How to get an instant license?
Business Registration and licensing (BRL) in the Department of Economic Development(DED) launched a new concept called Instant license for quick start your commercial /professional business setup in Dubai. Dubai is known as the business hub in the Middle East, attracted by businessmen from all over the world. To cater to the needs of today's world, this instant license service is more cost-effective and convenient. You can register and issued a trade license in Dubai within a day. Normally, acquiring a trade license is a hectic deal, it takes lots of time and cost, and physical space, warehouse with a valid tenancy is mandatory. This makes your deal costly for an investor to find a suitable physical space. The main advantage of an Instant license, the investor can apply for a license without the requirement of the physical entity. The majority of trade license can be obtained within minutes and you don't need to submit the documents for licenses(memorandum of association and office tenancy contract signed) and conduct business for a grace period of 12 months.
Instant license concept is launched by UAE government in 2018 to enhance the efficiency of DED services in Dubai and boost the market economy of UAE by attracting new investors to start their venture.DED issues license depends on the company activities,instant license will have Dubai municipality registered as the business addresses ,it does away with trade name and initial approvals for primary activites.You can smoothly conduct your business without lease and constitutional documents during 1 year period.After getting the license,ministry of labour will give approval after checking the company has sufficient commercial space for hiring employees.The company should obtain Memordanum of Association to convert power to manager to open bank account transcation.
Eligibility for obtaining Instant License
There are certain criteria for obtaining instant license,they are available with some legal structure
- Limited Liability company for multiple shareholders
- Single limited Liability company for single shareholder
- Sole proprietorship
- Civil company
One important thing to consider that instant license is only issued for individual shareholders,cannot possible for corporate shareholders.51& of local partnership is provided for UAE national and 49% for an single or number of individuals in case of an LLC.Instant license doest really requires any other external approvals for setting up a business in Dubai.Those who have valid UAE residence visa and ID card are eligible for applying Instant license and they cannot process the application through digital portal.Instant license once issued is eligible to have a number of 2 investor visa and its validity is maximum 3 years and 3 employment visa with 2 years validity.
Procdure for applying Instant License
- Select your entity form
- Choose your primary business activity from the available list of DED service
- Determine the structure of business shareholder
- Choose trade name for your business and set share capital
- Submit application with required documents(passport copy of partners,residence visa,emirates id,NOC,local sponsor id copies,dubai smart pass id)
- Make payment(payment voucher and sponsorship fees should be paid )
- Issuing of instant license
Benefits of Instant License
- Quick and faster process of issuing license
- Less documentation
- can start trade and conduct business immediately
- Moa does not require for 1 year grace period
We have hands on experience in providing the best DED service in UAE to improve your business activity and provides a great opportunity to explore and discover the UAE economy.