If you are interested in starting a business in Dubai, you will want to know the different types of Business license in Dubai available to you. There are free zone licenses, trade licenses and offshore company licenses. You can also learn about the capital requirements for each type of license.
Free zone licenses
Free zone business licenses for foreigners in Dubai are a good way to start a business in the UAE. These zones offer tax breaks, world-class facilities, and easy-to-understand licensing procedures. You can also take advantage of the country’s robust financial infrastructure.
The first step to get a free zone business license is to decide on your business activity. For example, if you plan to sell commodities or provide services, you can apply for a general trading license. But if you plan to manufacture or import goods, you may want to apply for an export or import license.
The cost of obtaining a free zone General Trading License in Dubai will depend on the package you choose and the number of services you require. A free zone license usually includes visas, visa sponsorship, and a smart office. However, depending on the zone, additional approvals may be required.
When registering your free zone company, you should hire a local service agent. He or she is responsible for handling the necessary paperwork and ensuring that the license is issued on time.
Trade licenses
If you want to start a business in Dubai, you will need to have a trade license. These permits are issued by the government of the United Arab Emirates, and they allow you to legally carry out certain activities. You can choose from six types of licenses depending on your company’s activities.
Before you can get a license, you must determine what type of business activity you want to conduct. This will help you determine the best type of license to acquire. For example, if you plan to start a business that deals in tourism, you will need a trade license.
You will also need to establish a legal structure for your company. You will need to fill out a form with the DED, and you will need to pay a fee. The cost will depend on the type of business you are planning to carry out.
The Department of Economic Development is the authority responsible for issuing trade licenses in the UAE. They also issue professional and industrial licenses.
Offshore companies
In Dubai, there are various types of business licenses that are available to foreigners. The nature of your economic activity will determine what type of license you need.
If you are planning to set up a business in Dubai, you will need to apply for a trade or professional license. You can also establish a company in one of the Free Zones. These zones offer a wide variety of benefits to both residents and non-residents.
Depending on your goals and the type of license, you can also start a non-profit organization or a branch office. A branch office is a legal entity that performs business under the same name as the parent company. It can solicit orders to be performed by the head office.
When you set up a business in the UAE, you must register with the Federal Tax Authority. Once the business is established, you must keep records of everything that pertains to the company.
Share capital requirements
Share capital requirements for foreign business licenses in Dubai vary depending on the structure of the company and its location. Usually, a minimum amount of share capital will be required for the company to be registered. This may be deposited into a corporate bank account.
However, there are also free zone companies that do not require a minimum share capital. The share capital of these companies may range from AED 50,000 to AED 200,000. These companies can open branches in the various free zones. They can also conduct their business in other GCC markets and international markets.
If you are looking to open a company in Dubai, you can contact a company formation agent to assist you. These specialists can help you register a limited liability company in Dubai. In addition to this, they can help you obtain a representative office or branch in the UAE.
Conclusion
There are many federal bodies and institutions that you must liaise with before you can get your company up and running. In addition, you need to make sure that the name you choose is permitted for use.
