The Process and Incredible Benefits of the Instant Trade License in Dubai
- March 29, 2023
- Posted by: axiom_admin
If you want to establish a company in Dubai but want to start your operations as fast as possible, Dubai introduced just the solution. Numerous opportunities in Dubai attract foreign business owners. The city offers a huge market for foreign investors seeking business setup opportunities. In identifying the market’s need, the Department of Economic Development introduced the Instant business license in Dubai. You can now easily apply for and obtain an instant trade license online using the Department’s e-service system. Learn everything about the process and unique benefits of getting an instant trade license in Dubai with us. We also boast the best business setup consultants that can help make the process easier. Axiom Mark is well-reputed for having only high-quality business setup services.
What is the Dubai Instant Business License?
The instant license makes it easier for entrepreneurs to attain a trade license and set up their businesses on the UAE’s mainland. Business owners can get a commercial or professional trade license in Dubai in just five minutes. The instant trade license is mainly for entrepreneurs who want to get started fast and maybe refine their trading name and organize other necessary documentation after that. With this new initiative from the government of Dubai, entrepreneurs can now take advantage of a quick and seamless entry into the market of their choice.
Instant Trade License Benefits
The Instant License is a one-step process that does not need the Memorandum of Association (MOA) and the rent contract for the first year. You submit these only upon renewal of the license.
The standard process of applying for a UAE mainland business license would take days due to the various documentation, government approvals, and other licenses or permits that may relate to starting the business. Now, with the instant trade license, business owners can get their trade license and be operational within a few minutes and with fewer requirements.
The benefits of the instant license are as follows:
- The application can be made in 5 to 10 minutes.
- You get same-day approval.
- You can start conducting business immediately.
- The Memorandum of Association is not necessary for the first year.
- The rent contract is not needed for the first year.
- The application can be made online or in person.
- You can work from a virtual space for the first year.
- There are fewer start-up costs for new businesses.
- You can begin small, work from home, and expand when ready.
Who can apply for the Instant Trade License?
You can apply for the instant license if your company has one of the following business structures:
- Limited Liability Company
- One Person LLC.
- Sole Proprietorship
- Civil Company
The Instant Business License Cost
The business owner will be issued a single payment voucher which includes the fees for initial approval, trade name reservation, and license issuance. The cost of the instant license varies depending on the company’s activity, but a fixed Market Fee of AED 500 applies to all business activities.
The Application Process
There are a few steps every business owner must carry out to apply for an instant license. Firstly, the owner must select the company’s legal type (business structure), choose the business activity from the list of available activities, and determine the company’s shareholding structure. Then the owner would have to propose and reserve a trade name depending on its availability, decide the company’s share capital, complete the necessary application forms, and submit the required documents. Subsequently, a payment voucher will be issued for the owner to pay. Finally, the business owner will receive the instant business license.
Once the trade license is issued, the business owner instantly becomes a member of the Dubai Chamber if the business engages in commercial activity. The owner would then apply for an establishment card from the General Directorate of Residency & Foreigners Affairs for an additional fee. Finally, the owner gets three employment quotas for employees from the Ministry of Human Resources and Emiratisation.
The Required Documents
If you’re applying using the DED’s service platform, all that’s required is your original Emirates ID. But if you are applying for the instant license through a Service Centre, Happiness Lounge, or Smart Lounge, the following documentation is required:
- Passport copies of all relevant partners and the business owner
- A copy of the UAE residence visa or UAE visit visa of foreign partner(s)
- A photograph of the owner holding the passport (for foreign investors)
Let Axiom Mark Help Make It Easy for You
Suppose you are not well-acquainted with how these applications go and are afraid to make a mistake while applying for the instant trade license or any other license. In that case, you can engage the services of our business setup consultants to help you get licenses with no hassle. Our business setup services are exhaustive and tailored to your specific needs. You can reach out to us today if you want an instant trade license in Dubai quickly and easily.