Dubai is always known for taking advanced initiatives to establish visionary leadership in the world of business. One such initiative is an instant trade license in Dubai. According to the stats, the number of instant trade license owners in Q1 2020 reached 1,746 in UAE. This indicates more and more entrepreneurs prefer this process today.
An Instant License in Dubai reduces human interaction through automated licensing procedures and makes it easy to access a business license within a few hours. With an instant license comes a guarantee that entrepreneurs can start their business activity immediately after securing the license. They can complete the remaining requirements of the trade license, such as paperwork and approvals from relevant legal departments.
Therefore, if you wish to start a business in Dubai but don’t want to spend too much time completing the registration process, you must apply for an instant trade license in Dubai. And to do that, you must know the required documents, the process and the costs involved. So, let’s start with getting you acquainted with the benefits.
What are the Benefits of Instant trade License in Dubai?
There are numerous benefits of applying for an instant trade license in Dubai. A few prominent ones are as follows:
- The application process is conducted online and is straightforward.
- The application process only takes a few minutes to complete.
- The complicated process of a tenancy contract or Ejari for a physical office is optional.
- You are allowed to work from a virtual space for the first year. Moreover, you get time to settle down and find an office during the first year of operation. You can then shift your office to a physical space in the next year.
- There is little paperwork.
- Waste no time in acquiring additional approvals or requests
- The business setup formalities are cost-effective
- Applying for an instant license is considered one of the best ways to explore the Dubai markets and analyse growth probability and feasibility.
What are the Eligibility Criteria to Get an Instant trade License in Dubai?
An instant trade license can be obtained for four business legal forms – limited liability company LLC, sole proprietorship and civil company. Furthermore, keep in mind that instant licenses in Dubai may only be granted for operations that do not need any external authorisation. Companies that require approvals from Dubai Municipality, the ministries or any other department cannot apply for an instant licence.
What is The Process to Secure an Instant License in Dubai?
To obtain an instant license in Dubai, you have two options. Either you can submit an application through the DED e-services platform or partner with an authorised service centre or business consultant. Here’s what you need to do if you want to submit an application for an instant license in Dubai via the DED e-Services platform:
- Visit the Shuraa London Branch office.
- Choose a legal type or company structure: LLC, LLC-SO, Civil Company, or Sole Proprietorship.
- Select the business activities you wish to operate from the list of options provided by the DED.
- Take a decision on the shareholding structure for your business corporation.
- Decide on and submit at least three possible trade names for your company.
- Decide on the share capital of your business corporation.
- Fill in the remaining necessary details as directed and complete the application form.
- Attach the necessary documents.
- Once you submit the application, you will receive a payment voucher on your registered email ID.
- Pay the required one-time instant license fees, and you will receive your license.
- You can begin trading right after you receive your trade license from the Department of Economic Development.
Note that if your company participates in any type of commercial activity, you should join the Dubai Chamber of Commerce and Industry. Moreover, you must purchase an establishment card from the General Directorate of Residency and Foreigners Affairs (GDRFA) (addition charges). Also, receive 3 work permits from the Ministry of Human Resources and Emiratisation for workers (MoHRE)
What are The Required Documents to Get an Instant License in Dubai?
If you choose to apply through outsourced service centres, you need:
- Passport copies of all partners.
- Original Emirates ID and Residence visa copy
- No Objection Letter from current employer
- In case you apply for a General Trading license in Dubai, you need to apply for DED e-services and obtain a Dubai Smart Pass ID.
- Submit the slip of your registered trade name and selected business activities. Additionally, share the details for the commercial registry, all business partners and managers.
If you choose to apply through E-Services, you need:
- You do not need any additional documents
- Visit the concerned legal department with your original ID to create an account on the Dubai ID Smart pass (if you don’t have an existing account)
- Submit your trade name registration certificate and selected business activities. Additionally, present the details of the commercial registry, all the business partners and managers.
What is The Cost of an Instant Trade license in Dubai?
Recently, the Dubai Economy reduced the amount of an instant trade license cost in Dubai by over 90 per cent, from 3,000 AED to 250 AED. This includes the cost of trade name registration. Moreover, the new fee for Dubai trade license cost will apply at the time of renewals for the existing license holders. If you are new to Dubai, you will also need to consider the visa application cost for you and your dependents.
Connect With Shuraa UK
If you’re a British citizen who wants to establish a business in Dubai without spending too much time completing the legal formalities, an instant trade license in Dubai is the best option for you. However, if you’re new to the process, it is best to partner with a business consultancy to ease the process for you.
Business setup consultants at the Shuraa UK branch can help you acquire an instant trade license within a few minutes. We have prior experience and can complete all the necessary formalities on your behalf in no time. Hence, while we seamlessly take care of the registration process along with other legal formalities, you can focus on planning and other essential tasks.
We will do everything from gathering important documents to acquiring permission and approvals to getting your instant license at affordable service rates. All we need from you is to call us, share all your business details, some personal information, and your requirements, and we will take care of it all.