The Instant License is also known to investors and entrepreneurs as a trade license that can be accessed by individuals who want to conduct either professional or commercial business activities or are thinking of a free zone business setup in Dubai. The Instant License can be acquired within a few minutes. However, to obtain an instant license, you don’t have to submit the office tenancy contract or even the memorandum of association to the DED in Dubai. This is an excellent scope that is doled out to the Government so investors can invest in a company set up in Dubai. The Government offers them a grace period of a year for business operation.
Instant License and Its Benefits
The procedure involving the acquiring of a mainland trade license in UAE can be an elaborate and tedious one, based on the company activity that you have chosen, the preparation time of paperwork, etc. Apart from this, the issuance of a license demands a tenancy contract. The businesses can reap several benefits with the Instant License, which runs inclusive of:
- Issuance of license within minutes
- Instant opportunity to conduct business activities and trading.
- Lesser paperwork
- The cheap and inexpensive initial year of business
- Scope to explore and learn about the Dubai market
- No need for a Memorandum of Association for the initial year of business.
- The first year of business doesn’t need Tenancy of Contract or Ejari.
Who Can Acquire or Obtain Instance License?
Any business which doesn’t need external approval for their activities can get eligible for an Instant License. However, the professional businesses with particular activities and even the trading companies demand external approval and don’t stand worthy of obtaining Instant Licenses.
The legal structures that are eligible for Instant Licenses are:
- Civil Company
- Limited Liability Company
- Sole Proprietorship
- One Person LLC
Paperwork and Information Needed for Instant License Application
Individuals applying for Instant License via outsourced service centres will need:
- Photocopies of passports of all the partners- the partners are required to mark their presence during the procedure of official application.
- Photocopies of Emirates ID and Residence visa
- NOC issued either by the employer or the present sponsor (if need be, for international shareholders).
- Photocopies of Emirates ID and Local Sponsor passport
- Investors applying for General Trading License in UAE would be required to acquire Dubai Smart Pass ID through applying for DED e-services.
- Details regarding partners and managers, commercial registry, trade activities followed by trade name.
Applying for Dubai Instant License and How?
Given that you would be working with a free zone company setup specialist win UAE when applying for instance license, the procedure of acquiring the Instant License takes just about four steps in Dubai.
Determine Your Business Activities
The first thing to do when establishing your company in UAE is to determine the business activity that you wish to undertake. The integral thing to keep in mind when determining the business activity is to ensure that your selected activities are following those present on the DED list. The Instant License can be obtained by more than 2,000 activities as decided and mentioned by the DED, encompassing every imaginable industry, so you can ensure to choose one that favours you.
Select A Name for Your Business
The next integral step to undertake before applying for an Instant License is to pick a name for your business. There are a handful of factors to bear in mind in the second stage. A lot of these factors don’t even count or are accepted in any other part of the world. Ensure that you must adhere to a stringent guideline of giving a name to your business. To put it in simple words, you must stay away from all kinds of offensive language and steer clear from naming your business after a popular organisation.
Creating Your License Application
To create your Instant License application, you can do it through an e-channel portal or even online or by going to a service centre. The procedure isn’t difficult and it shouldn’t take more than five minutes with minimum paperwork needed.
Making Your Applications for Visa
You would also require a residency visa to work in Dubai and so will your employees. With the correct guidance and support, the application process for a visa can be crystal clear. Most of the company setup in Dubai formation professionals can help and assist you with this part along with the license application. Being the owner of a UAE business license, you can choose to get others’ visa sponsored and this can be your housekeeper, or your domestic worker, your child, your parent, or even your spouse.
You would have to offer the following information, as your application requires:
- Commercial Registry
- Business name
- Partners and managers
Instant License: How Much Does It Cost?
This covers the license issuance, fees for trade name reservation, initial approval followed by application. The fees are based on the activities but roughly start from AED 9,000.
It is imperative and a necessity to have a local sponsor for all types of mainland licenses in the UAE. The sponsor fees however are reliant on the individual agreement that you have with the respective sponsor.
If you have the rightful knowledge, then you can easily obtain the Instant License and the procedure wouldn’t even be tricky or daunting. However, you would need knowledge in advance to pull off the process required for obtaining an Instant License. Also, you have to understand and learn that the entire application process and free zone business setup is clear, straightforward, and non-complex for as long as you can complete the Instant License application on time and it is error-free.