Dubai is one of the most developed, extensive, and diversified region in the UAE that offers a myriad of business opportunities for local and international investors. In addition, the Dubai government has been consistently focused on developing the region’s business setup and operations environment in a bid to retain global competitiveness by packaging the city as the ideal place to work, visit, and live. In light of this, Dubai attracts numerous foreign investors and business people who hail from India and other parts of the world annually. Due to an influx of Dubai business setups, the Business Registration and Licensing sector introduced the instant licensing service to ease the business registration process for investors in Dubai. However, without assistance from a Dubai business setup company, the process of acquiring an instant trade license would be daunting.
Instant license service
The instant license service facilitates acquisition of a trade license in as little as 1 day. The registering company is not required to provide a lease contract and a memorandum of association during the initial trade license application. Instead, they are required to attach the documents during renewal of the trade license. Online applicants are not required to provide any documents. However, applicants who opt for other application channels must produce; valid passport copies of all business partners and managers, copy of residency visa and NOC issued by sponsors of foreign applicants, visiting visa copies for foreigners, and at least one business partner must visit Dubai in person.
Process of obtaining instant license
The procedure begins with selecting a legal form and a business activity. Add all business partners and their personal details in the legal form and classify their capital share amounts or profits and loss distribution agreements based on the legal form you choose. Note that, the trade name you indicate in the legal form must be reserved through the new trade name reservation system or as an automatically generated trade name that has a reservation number. The business capital value should be indicated under the company commercial register data while the remaining fields are filled automatically. Though the electronic registration method does not require any documentation, an option to upload an electronic memorandum of association will be availed with an option to skip the step. You must make the required fees immediately for a payment voucher to be issued.
Summary
An instant trade license issued upon successful completion of the application process after which, you are free to perform your selected business activities within the UAE jurisdiction. But, since the instant license service is relatively new, it is wise to work with a Dubai business setup company that understand how to fill both online and manual applications. This way, you are guaranteed of acquiring your instant trade license within minutes since the chances of making errors during the application will be eliminated.
Hassan