In order to secure an economic license for conducting business in the emirate of Abu Dhabi before moving forward with your residency permits, foreign investors may apply for an Abu Dhabi Virtual License from any location outside the United Arab Emirates.
Scope of business
You can obtain a license to conduct business in any of the following 13 economic sectors:
- maintenance and installations
- retail trade
- leasing services
- health and entertainment events
- management and provision of the supporting services
- wholesale trade and
- import and export.
Type of company
You can choose to set up either a Limited Liability Company (LLC) or a Sole Proprietorship LLC and own 100 per cent of your business.
Fees for applying is AED 1,000, in addition to federal fees which are determined according to the activity selected and the legal form.
A news article has more in-depth information by clicking here and reading more about it.
Dubai Economy, in collaboration with other government agencies in Dubai, has launched the Dubai Virtual Commercial City (VCC) program which will authorize entrepreneurs and freelancers from all over the world to set up a virtual business in the UAE even if they do not do not stay in the UAE. This means that a person can do business in the UAE without a residence visa or residence permit. All he has to do is apply for the virtual business license.
For a person to obtain a Virtual Enterprise license, they must:
(1) Not reside in the UAE
(2) Be a taxable citizen of one of the eligible countries
(3) Conduct business activities worldwide, regardless of location, in the predefined sectors with a focus on creative industries, technology and services.
All virtual companies will automatically have access to DubaiStore.com, an online bazaar suitable for all companies registered with Dubai Economy. A more in-depth information about this virtual license in Dubai UAE to do a business setup can be found by clicking here.
Our experts at Dubai Business Setup will offer you a free consultation if you require and will help you through the above process seamlessly. Contact us here and we will be at your service instantly.