A firm in Dubai will be the right choice if your goal is to be successful in business. Countless men have established their businesses in Dubai and reaped huge benefits. The federal laws in the UAE are stringent regarding setting up a business here.
A business license in Dubai is compulsory for commencing business operations.
You can approach the authorities and submit the requisite documents for the establishment of your company in Dubai/ UAE. However, the drawn-out procedure may take some time to complete. In this blog post, we have included everything you need to know about business licenses in Dubai.
Which are the Authorities Involved?
The Department of Economic Development (DED) is the main authority for the issuance of a license in Dubai. There will be involvement of additional departments and ministries depending on the license you require.
The approvals from ministries, departments, and legal entities could be obtained by submitting the relevant documents in the prescribed format. A few types of businesses need a bank guarantee and additional fees before initial approval for business operations.
However, the businesses in the Free Zone area are different. The license for the same is issued by private agencies. Therefore, the procedures, regulations, and requirements are different.
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What is the Necessity of a Business License?
The business license creates accountability for your business. It stipulates the jurisdiction of operation and ensures that you are operating in an authorized area. The company will be monitored for unauthorized/ illegal acts and financial dealings during the business period.
Additionally, the license will enable the Dubai authority to affirm that you are not violating any rule of the land. And the business is not affecting public health. Your business organization, small or big, will also be registered in the government’s documents.
Type of Business Licenses
There are four types of business licenses in Dubai/ UAE.
A professional license is necessary for commencing businesses related to professional services. The profession may include, education, art, dance, and so on. Those, who are artists, models, artisans etcetera must obtain a professional license before setting up a professional academy in Dubai.
This license is compulsory for establishing an LLC. The commercial trade operations would be authorized through this license. The company must be registered under the Dubai Chamber of Commerce and Industry also.
Industrial licenses too must be registered under the Dubai Chamber of Commerce and Industry. This license permits you to set up production plants, manufacturing units, and similar firms.
It is for the companies operating in the tours and travel industry. This is subdivided into three, Outbound tour license, inbound license, and travel agent license.
Outbound Tour License: This license is necessary for carrying out both outbound and inbound tourist operations. The tourism firms with outbound tour …Read More