Many UK entrepreneurs now have a business licence in Dubai and thriving businesses. Thanks to its investor-friendly environment, Dubai is favourable for the growth and development of UK enterprises. Business-friendly conditions like fewer entry barriers and better technological developments make the city a winning prospect.
If you wish to start your business in Dubai, the first and foremost step is to get a business licence. A business licence is one such requirement that every business entity must get. In fact, Dubai issued over 72,000 business licences in 2021. It assures that no one engages in unethical commercial activities, and appropriate rules, safety measures, and standards are followed. So, find out more about getting a business licence in Dubai.
What Are the Benefits of Starting a Business in Dubai?
There are numerous UK businesses operating in Dubai. Here are some of the benefits of starting a business in Dubai.
- Dubai has rapidly-growing technology and a supportive administration. So, establishing a company and getting a business licence in Dubai would involve almost negligible paperwork.
- The recently-launched NextGenFDI project partners with local entities, including Dubai Internet City, Dubai South and DMCC, aiming to expedite the business setup process even more.
- Dubai mainland and free zones allow numerous business activities. On top of that, Dubai added 98 new economic activities in 2021 to keep up with the changing specialised business models.
- The recently announced ‘Dubai Global‘ project promises to provide companies with logistical help as they grow into over 30 countries worldwide.
- Dubai is strategically located at the junction of East, West, North, and South. This way, it connects manufacturers, producers, and suppliers worldwide. Your licensed business can leverage this advantage.
- The seaports and airports in Dubai are in excellent connection to the rest of the world. This simplifies logistics even further.
- Aside from technological infrastructure, Dubai provides excellent public transit, telecommunications, and other facilities. In reality, the UAE Digital Economy Strategy prioritises more digital transformations in the future.
- Your licensed business will have no trouble getting the required visas. The UAE has been reforming its visa norms to suit UK entrepreneurs.
- As per research by Coursera, the employees in UAE have the best business skills globally. Moreover, the country’s current reforms can strengthen its talent pool. So, the labour market can be beneficial to your licensed business.
- You can have 100% ownership of your licensed business if located in one of Dubai’s free zones.
- Businesses in the Dubai mainland and free zones are not required to give a part of their capital and profits as taxes.
What Are the Documents Required to Get a Business Licence in Dubai?
All businesses that make revenue through their products and services must obtain a business licence in Dubai. The business licence will make your business a law-abiding enterprise committed to ethical business activities.
You will need to submit certain documents for the business licence. ENsure that the documents are accurate and valid. This would make the application process as quick as possible. Following are some of the required documents:
- Copies of passports and visas
- Two passport-size photographs
- Entry visa and stamp pages
Shuraa UK’s consultants can provide you with a detailed list of required and supplemental documents to be presented to the relevant authorities. Moreover, your business may need additional approvals from certain government authorities. Shuraa UK can assist you in getting the required approvals as well.
How to Get a Business Licence in Dubai?
Once you have all the relevant documents, you can apply for a business licence. Applying for a business license in Dubai involves the following steps:
1. Decide the Business Activity
The first step in getting a business license in UAE is to select a business activity. The country allows a vast range of business activities. Moreover, it takes a lot of time and consistent hard work to get your business running. Therefore, choose a business activity that you can carry out confidently.
2. Register the Name
The name of your business will reflect its personality. So, choose an appropriate name for your business. Avoid using blasphemous or obscene words. Also, don’t use well-known corporate names and acronyms. Furthermore, check if the name you want to use is available. Then, register the name with the concerned authorities.
3. Decide Your Company Structure
It’s crucial to have a proper company structure in place. A suitable company structure is important when it comes to your business’ success. Moreover, it ensures that responsibilities are perfectly defined.
So, select a suitable structure for your business. The structure could be a sole proprietorship, a Limited Liability Company (LLC), a public or private partnership or a branch of a foreign or GCC company.
4. Choose a Location
Select a business location in Dubai based on the benefits and opportunities you want to reap, along with your budget. You have options of setting up your business on the mainland or in a free zone.
Also, choose a suitable office space for your business. Every type of facility has its own distinct characteristics and advantages for various businesses. Besides, you’ll also have to consider whether to buy or lease it.
5. Apply for the Licence
Free zone inspection patrols can examine if a business’s operational activities and services match the activities registered in the issued licence. So, apply for the appropriate licence as per the business activities you will carry out.
Then, submit the necessary documents and pay the licence fee. The experts from Shuraa can help you in the best possible ways to avoid any confusion over the type of licence or fees. They can help you choose from a wide variety of licences based on your business activities.
6. Get Your Licence
You can get your business licence after you successfully complete all the steps. Once you have your business licence, you can conduct subsequent business activities, like contacting suppliers, day-to-day operations, marketing campaigns, etc.
What Is the Cost of Getting a Business Licence in Dubai?
Factors like your business activity and the licence type affect the business licence cost. Thus, this makes the business license in Dubai cost variable. So, coming up with an exact figure is challenging. However, as an estimate, the licence fee starts from AED 12,000.
The Shuraa UK branch’s professionals will help you determine the exact pricing of a business license in Dubai. Also, they will make sure that you spend wisely.
Start Your Business With Shuraa
The Shuraa UK Branch will help you throughout the entire process of getting a business license in Dubai. Moreover, we can help you with any requirement related to setting up your business in Dubai. We can also customise business setup solutions specifically for your business. Get in touch with us right away!