Establishing a business in UAE is not as easy as it sounds. There are countless legal documents and non-stop queues but, with the initiation of an instant trade license scheme, investors can now apply and obtain a trade license within 24 hours. Trade license is an essential document for any business as it legally sanctions companies to run business in UAE. The license makes your business a legal entity. The documents required are - Memorandum of Association, Tenancy Contract, etc. However, the instant trade license process does not require the documents mentioned above. The point to be noted is, this is applicable only for those businesses that do not need external approvals (means, consents from RTA, MoHp).
Benefits of Instant License
● The process of application and issuing of the license is complete within 24 hours
● It is quick and cost-effective
● Can start a business with immediate effect
● No hassle of submitting multiple legal documents (MoA, Tenancy Contract)
Applicants can apply for the license either through the Department of Economic Development (DED) in Dubai or through various service centres. The documents vary as per the platform applicant chooses to apply for the license. The process through DED is truly hassle-free as you only need the following documents for application:-
● Investor’s id proof is required to create an account and obtain a UAE Pass Id. If applying through service centres, you will have to submit the following documents:
● UAE residence/visit visa copy as well as Emirates id of all foreign partners
● Passport copies of all partners
● No Objection Certificate from the current sponsor of residence
● Passport copy and Emirates id of the local sponsor
Following are the steps that you will need to follow for the application process of instant trade license in Dubai:
● Visit the DED e-services website and select the Instant License option
● Login using UAE Pass ID, or you can also log in as a guest
● Choose your business activity type based on the services you provide or products you deal in
● Select the most suitable shareholding option followed by any three trade names
● Provide the share capital included in the business
● Fill the necessary application forms
● Submit the required documents as mentioned above
● You will be issued a payment voucher which you can use to make the payment and obtain the license immediately
Are You Confused and Want a Professional Help?
If you are looking for an instant trade license and unsure how to apply and obtain it, you must hire a professional business setup consultant who will help you in the entire process. A professional is aware of all the procedures, rules, and regulations. It is easier for them to approach the right departments for approvals if required. Though an instant trade license does not require too many documents yet, you must be prepared with all the options for the process. In 2021, if you want to establish your business in Dubai and you want it quickly, you can follow all the above tips and obtain it instantly.