Dubai has a lucrative market and offers numerous business opportunities for entrepreneurs and investors across the world. Many businesses have set-up their company in Dubai because of world class facilities including its infrastructure, cosmopolitan work space and skilled labour.
Dubai mainland is a prime location where private business entities are permitted by the Dubai Economic Department to operate commercial businesses. Businesses can work in a range of industries whether it is hospitality, automotive industry or luxury goods. The different types of licenses the DED issues are commercial, industrial, tourism and professional licenses.
Setting up a company in Dubai mainland requires a service agent or shareholder to act as 51%. The shareholder can be an individual or a company. Another mandatory requirement is office space. Although all this may seem too much to handle along with the problems of the business itself, it doesn’t have to be that way. AYS Consultancy, not only helps setup your business in the UAE but helps if successfully take off.
To obtain a mainland license the business must have a tenancy contract with a landlord to get the initial approval. There is a 5% annual office rent that will added to the trade license in the form of market fee. There is a new initiative however put forth by the Department of Economic Development which is referred to as instant license. This is for businesses that don’t require office space. The 5% annual rent will be directly paid to the DED instead.
Some businesses many require approvals from authorities other than from the DED. For example, businesses that conduct transport activities need approval from the Ministry of Interior, and businesses that offer legal consultancies must obtain approval from the Ministry of Justice. Business activities that are under the control of the DED will not require additional licensing approvals.
Here’s a list of documents businesses need to submit to obtain the final approval from DED.
Once all documents have been submitted, businesses will be issued a transaction number or payment voucher. This can be used to check the status of the business license online. When the license is ready, the authorized document clearing agent can be contacted, else, you can pay at the bank, post or law firm which will issue the license to you.