How to get an Instant Business License in Dubai?
Get an Instant Business License in Dubai
You might be aware of the fact that you need an appropriate trade license to start your business in Dubai. However, it takes at least four weeks to acquire a normal trade license for your business. This timeframe might be painful if you want to start your company in this lucrative city as soon as possible. If so, an instant business license in Dubai is the perfect trade license for you.
Are you interested in acquiring an instant or quick business license in Dubai? If yes, we recommend you be with us because we will provide the crucial information you need to get this license. In addition, we will give you an in-depth guide to obtaining this license to kick-start your business in Dubai.
Instant Business License in Dubai: Overview
We are sure you might be in a hurry to know the main process for obtaining an instant business license in Dubai. But you should initially learn the basics about the instant license before diving into the main process.
The Department of Economic Development (DED) in Dubai launched the instant business license in 2018. The main goal of this license is to boost the UAE economy by attracting new investors like you into the market, making it easier and quicker to obtain a commercial license in the Mainland UAE. This license is processed almost instantly through the digital portal, allowing a commercial license to be issued in five to ten minutes.
The instant business license is perfect for newcomers eager to start their business swiftly. This license allows you to spend your first 12 months adapting to Dubai’s lifestyle and culture.
During your first year in Dubai, you can refine your company’s trade name and handle your necessary documentation. Later, you can focus on your business expansion in the second year. You can explore Dubai, build a network, assess growth prospects, and refine operations effectively with the instant business license in this city.
Benefits of getting an instant business license in Dubai
You can enjoy a faster process of setting up a business in Dubai with the help of an instant business license. Apart from this, you can enjoy countless benefits with this license. The top benefits that you can acquire with the instant business license are listed below:
- A 12-month or one-year lease contract is not needed if you want to apply for an Ouick business license in Dubai.
- You can complete the entire process of applying for an instant business license in almost ten minutes.
- You can quickly access the market at the lowest price.
- You can virtually operate your business for the first year with a business license in Dubai.
- There is no requirement to notarize the Memorandum of Association (MOA) if you want to get the instant business license.
Eligibility requirements for an instant business license in Dubai
Indeed, you can simply and instantly obtain an business license in Dubai. However, you must meet a few eligibility criteria to acquire this license. We have outlined the eligibility requirements for an instant business license in this city below:
- Companies operating in the professional and commercial sectors are the only ones to apply for an instant business license in Dubai.
- Businesses involved in activities that don’t need extra approval or permission from departments or external authorities can apply for an instant business license in Dubai.
- Sole proprietorships, LLCs, or civil companies can also apply for an Quick business license in Dubai.
What documents do you need to apply for an instant business license in Dubai?
Like any other license in Dubai, you need several documents to apply for an instant business license in this city. Below is a list of the common documents you should gather to acquire this license:
- Your passport copies and passport copies of all the shareholders of your company.
- Your Emirates ID and a copy of your residence visa or visit visa
- Copies of your local sponsor’s passport and Emirates ID
What are the steps you should take to get an instant business license?
You need to follow several steps when applying for the Quick Business License in Dubai. The following is the list of the essential steps to get a business license in Dubai instantly:
1. Create a Dubai Smartpass.
Initially, you should develop a Dubai Smartpass ID to get your business license in Dubai. You can use the online e-service of the Department of Economic Development for a simple and easy licensing process. Using the e-service platform, you will need your Emirate ID to create a Dubai Smartpass ID and log in to this platform.
2. Choose your business activity.
After creating the Dubai Smartpass ID, you should choose business activities for your business to get your Quick business license in Dubai. Your chosen business activity will determine whether you are eligible for this license. The DED has consented to many activities that are acceptable in the region. Therefore, you should select one or more business activities as per your requirements.
3. Confirm a jurisdiction.
Next, you should select a jurisdiction as per your business requirements. You can enjoy many benefits, like zero customer tax, no currency restriction, and more, by selecting Dubai Free Zone. In contrast, you can deal with foreign and regional markets by choosing the mainland.
4. Select a legal structure.
To apply for the Instant Business License, you can choose only a few legal structures, like an LLC, a sole proprietorship, or a civil company. In addition, you should consider the share capital and shareholding orders when choosing a legal structure.
5. Select the company name.
Next, you should choose a company name adhering to the UAE naming guidelines. While selecting the company name, you should ensure you opt for three potential names without religion or initials.
6. Submit the application.
After deciding on your company name, you should submit the application for an business license in Dubai. At this point, you should consider several factors. We recommend you consult Flyingcolour Business Setup to get help submitting this application.
7. Open a corporate account.
Next, you must open a corporate bank account in any bank in the UAE. With the instant business license, you can open a corporate account to manage all transactions.
8. Get a visa.
Lastly, you should get a visa to relocate yourself to Dubai for your business operation. With this license, you can apply for an employee or family visa.
How can Flyingcolour Business Setup help you?
You can boost the process of starting your business with an instant business license in Dubai. From creating a Dubai Smartpass to getting the visa, Flyingcolour Business Setup can help at each step to get your instant business license. Our experts can clear up all your doubts about this license.
To learn more about starting an instant business license in Dubai, book a free consultation with one of the Flyingcolour team advisors.
Please note that this article was published on 31/05/2024 by the federal policies and updates at the time of writing. For the latest info please talk to our consultant.
