Known for stunning skyscrapers, Dubai has firmly established itself as a global leader in innovation, and also as a hyper-connected, pro-business hub between the East and the West. Providing unrivalled access to the world’s biggest economies, Dubai attracts a large number of businesses to invest. For investors and businesses, Dubai has:
- Special Economic Zones (SEZs) with 100% foreign ownership
- Tax free policies
- Low-cost set up and renewal of structures
- Full repatriation and profits
Apart from conventional businesses, Dubai attracts young entrepreneurs to convert their ideas into reality and shape their dreams in an ever growing global market. . If you have a business idea, Dubai could be the place to implement it.
But, for that, you will need to obtain a license, issued by the authority in Dubai. It is the most pressing concern for those who want to start a set up here.
What is Business License and Why Do You Need It?
Business License is basically a legal statement that allows you to operate or set up your business/company in a country. Some of its benefits are:
- It provides legal identification to the company/organization
- It helps establish and maintain accountability of the commercial proceedings
- It protects the public health and ensure complete safety
- It allows the company to get benefits from the government
Types of Licenses Issue in Dubai
- Professional License: This license is required for professionals, service providers, artisans, repairing services, craftsmen and abounding more.
- Industrial License: This license is issued to a company that involves in manufacturing or industrial work.
- Commercial License: This license is issued to a company that involves in any type of trading.
- General Trade License: This license is required for exporters, traders and importers.
Steps to get Business License in Dubai
The DED (Department of Economic Development, Dubai) is the government agency which issues companies local business license in Dubai. The department operates from different locations to ease and make the process simple and less time-consuming. You just need to follow these simple steps:
- Request the DED Department with original documents
- Describe the category for the profession, business, commercial and industry
- Complete the paper work for all the connected business (Almost 10 actions exist for each license)
- Give your business a legal status in the UAE
- Get necessary approvals from other authorities
- Decide a company name
Find a premises to give your business a physical location requirement for business ownership in Dubai
Every (foreign) business or investment in Dubai or UAE requires at least 51% shareholding by UAE nationals. It is an important regulation that no business should overlook it.
So what are you waiting for? Fix your appointment today with Maven Business Consultancy, one of the leading business consultation service providers that helps you obtain a business license in Dubai or UAE.
Call +00971-55-679-1998 to book your appointment today!