Dubai is a very feasible location for great business opportunities. This is due to its easy policies on taxation, the great connections with customers that it offers and uncomplicated regulations. These great features make it one of the best choices for entrepreneurs and investors all over the world. To establish a company in Dubai, one is required to have a business license. However, the initiative (Initiative of Instant License) by the Dubai government has made the process of obtaining a license easier which has consequently made business operations easier and more efficient.
What is an Instant License?
As the name implies, a digital license is processed almost immediately you apply for it via an e-portal. It was an initiative started by The Dubai Department of Economic Development (DED) in 2018 to promote the UAE’s economy by attracting fresh and new investors into the market and making the process of obtaining a license less complicated and faster.
What are the advantages of obtaining an Instant License?
- It takes lesser time to obtain an instant license.
- Getting an instant license does not require you to get a tenancy contract commonly referred to as Ejari.
This will enable you to start your business operations as soon as you can and test the waters without having to spend a lot of money. The primary license will have ‘Dubai Municipality’ registered as your office address and your business will be allowed to commence business activities using the license for a year after which a registered commercial lease contract must be presented and all legal documents needed for the company formation obtained.
Who can obtain a Dubai Instant License?
Every type of company except private-public shareholding entities can request a Dubai instant license.
What are the procedures for obtaining a Dubai instant license?
The following are steps that must be taken to get a Dubai instant license in Dubai:
- Get an application form
- Pick a business activity
- Pick a trading name
- State the total share capital of the company
- Submit the required documents
- Pay the fees
What are the documents required to obtain a Dubai Instant License?
The documents required for a Dubai Instant License include:
- Passport copies of all the shareholders
- Emirates ID and copies of residence visa
- NOC from current sponsor/employer (if required for the foreign shareholder)
- Copies of the local sponsor’s ID and passport
To learn more about Dubai Instant Licenses, visit Dubai Business Setup