Instant Trade License Dubai, UAE
One of the useful initiatives called “Instant Trade License” introduced by the UAE government that helps businesses to get their commercial license within five minutes by following just one step.
The DED (Department of Economic Development) simplifies the traditional licensing process and makes it easier for investors to start a business in Dubai. The Instant Trade License provides the facility to secure a commercial or professional business license in just a single step within 5 minutes with no necessity of a company’s lease agreement or location for the initial business year.
What is the traditional process to get a trade license?
Traditionally, it took 1 to 3 months or even more time to get a trade license in Dubai, based on the activity and requisite decided by the Department of Economic Development. Also, businesses or professional groups were required to show their lease agreement for the workplace that made it a lengthy process.
What are the Benefits of Instant trade License?
- No need for a rental contract for one year
- Easily accessible
- Saves time
- Cut down lengthy paperwork
- Reduce Licensing Cost
- Allows reviewing the market before investing a large amount.
Who is entitled to an Instant Trade License?
All business entities can apply for an Instant trade license, apart from public or private shareholding firms. It can also be offered to foreign shareholders having an official UAE residence visa along with UAE ID. However, without applying for a United Arab Emirates Smart Pass, the foreign shareholder entities cannot complete the Instant trade license online application process.
What are the Terms and Conditions to Get an Instant trade License?
- No documents desired to complete online applications. Remember, only General Trading licenses are applied via the e-services platform of the DED.
- In case you apply via other application channels, then an individual must have a legal UAE visa and anyone of the investor or shareholder in the entity must be physically present at the time of applying for a license.
What are the documents required to fill the Instant trade License application?
- Passport copies of all associates
- Official Business Name Certificate
- Official First Agreement Certificate
- Rental agreement attested by Ejari and permitted by Dubai Municipality
- For Private and Public Shareholding entity, Partnership business, Individual firm, and LLCs, the Memorandum of Association is required.
- Passport copy & Emirates ID of local supporter or sponsor.
- Approvals from authorized administration (based on the type of business)
What are the steps to follow for applying for an Instant Trade License in Dubai?
- Select the official according to your business such as Sole Proprietorship, Civil Company, or LLC.
- Select the right business activity as defined by the Department of Economic Development in Dubai.
- Indicate the associate’s share in the investment and allocate their profit and loss ratio in the firm.
- Provide the trade name for the company, if you have it already, otherwise, there will be an automatically created trade name emerges out as a number.
- While filling the online application, you only need to add the business’s whole investment worth. The remaining fields will be automatically filled.
- After completing this whole process, the next would be to fill the payment voucher.
- After successful submission of payment, the instant trade license will be issued
Are there any more requirements to start a business in Dubai after getting an instant trade license?
After getting an instant trade license, you are eligible to do trade and execute business activities in Dubai, UAE. Remember, you need to renew the license after completing one year, so be prepared with all the essential documents required as per the standard of DED (Department of Economic Development).
Still not sure about the process, call PMC Solutions DMCC for help.
How we can help you?
PMC Solutions DMCC team assists you regarding complete legalities, business structure, and business formation process. We can prepare your documents, ensure you do everything right and act as your secure local sponsor to get the instant trade License in Dubai.
For Free Consultation contact PMC Solutions DMCC +9714 275 6718 Whats app +971 588 631 656 or email – firstname.lastname@example.org