A more innovative way to get your license is Instant License in Dubai, where you can start your business with a virtual address for the first year. This license is designed for startups to ease their paperwork and cut the time frame set by officials to get your business going. Entrepreneurs, Investors & traders can get access to start working legally in Dubai. This license was introduced by the ( DED ) Department of Economic Development in August 2017. The ultimate goal is to attract foreign investors and boost the economy of the United Arab Emirates.
An instant license in Dubai can be obtained within minutes without hassle or paperwork fatigue. With the help of Al Riyady Corporate Services, whether you are an Investor or a startup, we can help you get your business going within a short time, and you are ready to go with your business.
What is Instant License?
The Instant License is the best option for startups eager to start their business in the United Arab Emirates. This license can be used for the initial year of your business; while running your business, you can explore the UAE market. Set up your license after one year and get your physical address.
Which businesses qualify for an instant license Dubai?
The following mentioned can apply for Instant License Dubai,
- Single Limited Liable Company
- Sole Proprietorship
- Limited Liable Company
- Civil Company
Foreign shareholders living in Dubai with a valid visa and Emirates ID can also apply for an Instant License in Dubai (a UAE smart pass will be required for online application).
How to Get an Instant License Dubai?
You need someone who knows the process to apply for your Instant License. Al Riyady Corporate Services has got you covered as we have already processed 100s Instant licenses. We will help you get your Instant License by doing the right steps and avoiding the things that could cause trouble for our clients. You can also apply for the online e-service of the (DED) Dubai Economic Development Department.
Below are the steps to apply for your Instant License,
- Smartpass ID and login can be created via Emirates ID
- Choose your business structure (LLC, Civil, Single LLC, Sole Proprietorship)
- Choose a business activity from the list
- Choose any three trade name options
- Fill out the remaining form and generate a payment voucher
- Pay the fee
- License issuance
Create a Smartpass ID and Login
You can use your Emirates ID to create your smart pass ID, register yourself, and log into your account to further start the process for your Instant License.
Choose Your Business Structure
After logging in to your account, you must select your business structure: Limited Liable Company, Single Limited Liable Company, Sole Proprietorship, Civil Company, etc.
Choose Business Activity from the List
Business activity determines whether your business needs Mainland or is free. If your business type is Mainland, you must get permission to use the business premises from the Dubai Municipality.
Choose Any Three Trade Names
Use three different names for your business because officials will have other options if they reject one company name. The rejection is on that form if the business name is already in someone else’s use.
Fill Out the Form to Generate a Payment Voucher
Fill out the remaining form that needs your basic information and generate a payment voucher to process your Instant License application further.
Pay the Fee
After filling out all the forms, generate a payment voucher for your fees that you can pay online or visit the (DED) Dubai Economic Development Department to pay your fees physically.
License Issuance
Once your payment is submitted, you can get your license in soft or hard copy. That’s all, you can start your business right away.
Documents Requirement for Application of Instant License
The following are the documents that are required to apply for an Instant License:
- Emirates ID
- Valid Visa
- Emirates ID, Passport copies of local sponsor
- NOC from your current sponsor
Advantages of Instant License Dubai
The following are the advantages of getting an instant permit,
Approval of License within a day
- No hassle of paperwork
- No physical address is needed
- Get your license within minutes
- Easily applicable online
- Fewer charges for first-year
- Doesn’t require the registration of a trade name for first year
Disadvantages of Instant License
The following are the disadvantages of an Instant License in Dubai:
- This license is only designed for UAE and GCC Nationals
- Limited business activity
- Visa will be limited
- Alone responsible for legal things
- Banking limitations
Cost of Instant License
Instant License costs vary between AED 5000 and AED 28,000, including services, sponsorships, etc. Visit the (DED) Dubai Economic Development Department for more details.
Endnotes
An Instant License Dubai is the easiest way for startups to get their business going. Whenever they plan to start, they can get it going the same day. As it is easy to register and without needing any external approvals. Because of the Instant License initiative, many foreigners have moved to Dubai to start their businesses here, as Dubai will become the business hub in the coming years.
Here at Al Riyady, we are quite experienced with Business setup and consultation regarding your business setup inquiries. While we handle your paperwork, you can continue focusing on your business and get it going smoothly. We can help you get your Instant License. For other services like Corporate Tax, Bookkeeping, Bank accounts in Dubai, and Digital Marketing, you can get our help. Feel free to contact us for any details.