There exists a wide array of business licenses in the UAE that provides for exact investor needs. For this reason, the business within the UAE shows steady traction throughout the recent decades with more new firm setups. After all, the ease of many business license types in the UAE helps global investors launch a business well under given license types.
This results from UAE’s government efforts to present always business rules that appeal to investors, such as giving long-term residence visas. And this is in line with UAE’s aim of driving its economy towards greater heights by tempting more business people into its market. It provides a world-class structure on behalf of business setups.
Release of business licenses in the UAE
Before a business begins operation, it must first obtain a permit to do its chosen trade activity. The process and papers needed for getting a business permit can vary subject to the allowed level of the business and the action it aims to perform. The Department of Economic Development (DED) exists as the government bureau that issues the business license for mainland firms.
For offshore firms and those in the free zones, their own Free Zone Authority gives out their business licenses in the UAE. The license can be requested through DED’s website, but you can personally apply for it at DED’s customer service office. In the process, you may likewise need to obtain approval from relevant authorities, depending on the type of your business activity.
For instance, if you operate an insurance company, you may have to get the Insurance Authority’s approval. When your business is in the health care industry, you will need the approval of the UAE’s Health Ministry. And for companies belonging to the hotel segment, the support of the Tourism Authority is required in getting their business licenses in the UAE.
Types of business licenses in the UAE
This is a minor license issued to owners of arable land and livestock farms, besides those engaged in the breeding and capturing fish in or from marine and inland waters. Organic farming is a popular business type in Dubai since 2016. Perhaps, this is because the Ministry of Climate Change and Environment (MCCE) takes care of investors keen on opening a company in Dubai’s farming sector.
This is given to firms engaged in the trading of goods. Having this license allows firms to buy and sell goods in and out of the UAE. Also, there are many types of this permit in the UAE that cover exact business pursuits. For instance, when you are just focused on local market trading, you can request a UAE general trading permit.
For all import and export actions, there stays a license that you'll have to get from its related business license authority. There are exact UAE trade license types besides business action listing to buy and sell machines, PCs or laptops, cars, and building supplies.
So, the investor needs to select from the business licenses in the UAE that are exact to his action while listing the business with its free zone, offshore, or mainland. As a whole, these permits remain issued to business owners engaged in contracting or general trading of cars, chemicals, gold, precious stones, health care, oil and gas, publications and mass media materials, real estate, safety gears, spare parts, transport, and used furniture.
These are given to persons who do a craft by themselves to earn a living. This craft depends on manual effort, if not with the help of gears and machines, like blacksmithing, carpentry, and printing.
This is a new addition to the list of business licenses in the UAE, as freelancing is already famous worldwide. These permits stand focused on expert individuals engaged in the technology, media, entertainment, and art sectors who present their services as consultants on top of their full-time careers.
If you are a freelancer, you can get this permit from the Dubai Knowledge Park, Dubai Media City, Twofou54, among many others. Freelancer licenses exist issued to media and creative professionals, such as actors, animators, sound engineers, cameramen, content providers, copywriters, media specialists, among many others.
These licenses are given to factory owners of any type that manufactures products for selling. It is also issued to businesses engaged in industrial activities within the UAE. And just like most business licenses in the UAE, companies must hold a physical workplace. This license is usually needed for firms engaged in making animal feeds, carpets, dairy products, garments, meat products, to name a few.
All persons or firms using people's intellectual skills in the line of business are required to get this license to operate in the UAE. If there are at least two business owners, the business may register by way of a Civil Works company. This license covers tax, insurance, marketing, legal, management, computer, consulting, environment, and audit services. Still, it is also required from IT infrastructure and service suppliers, artisans, and many others. Hence, this license is issued to people whose work relies on their intellectual and mental skills, scientific talents, and academic achievements.
Among the business licenses in the UAE, this license is given to facility owners engaged in tourist events, such as travel agencies, hotels, restaurants, tourist camps, and cruise boat rentals.
When opening a new company, entrepreneurs have to make crucial decisions. And the first is on the business action to engage in because the required business license to operate is subject to the industry the business belongs to. Making this choice can be very confusing since more than 3,000 permitted activities are up for choosing in the UAE. Still, UAE keeps drawing more foreign financiers because of its excellent infrastructure and facilities offered.
Among the many business licenses in the UAE, those in the free zones top the list. This is because of its ease in company formation, the vast array of business actions, and the host of investor benefits given. So, if you need guidance in your company formation and business license, talk to the experts at HAM right away!