What is an Instant License?
The Instant License is a trade license available to those intending to carry out commercial or professional business activities and can be obtained within minutes. For an instant license, you do not need to submit following documents to the Dubai Economy (DED):
- Memorandum of Association
- Office Tenancy Contract
It is a great opportunity given by the government to invest in Dubai by providing a one year grace period to conduct business.
What are the benefits of an Instant License?
Generally, the process of obtaining a UAE mainland trade license can be quite long, depending on the company activity, document preparation time etc. Additionally, a tenancy contract / Ejari is mandatory for the licence to be issued. With the Instant License, businesses are able to take advantage of the numerous benefits, which include:
- License Issued in minutes
- Immediately trade and perform business activities
- Significantly less paperwork
- Cost-effective first year of business
- Opportunity to explore & discover the Dubai market
- Memorandum of Association not required for the first year
- Tenancy / Ejari not required for the first year.
Who is Eligible for an Instant License?
Any Company whose activities do not require external approval can apply for an Instant License. Trading / professional companies with specific activities require an external approval and are not eligible for Instant Licenses.
Instant Licenses are available for the following legal structures:
- Limited Liability Company
- One Person LLC
- Sole Proprietorship
- Civil Company
Note : A Person who requires a CID approval due to sanctions/restrictions in the UAE is not eligible for the Instant License.
What documents and information are required to apply?
Those applying through outsourced service centers will require:
- Passport copies of all partners – all partners must be present during the official application process
- Residence visa copy and Emirates ID
- NOC from current sponsor / employer (if required for foreign shareholder)
- Local Sponsor passport copy and Emirates ID
- Individuals applying for a General Trading licence in Dubai will need to apply for DED e-services and obtain a Dubai Smart Pass ID
- Details of Trade name, activities, Commercial registry, Partners & managers details.
Those applying through E-Services will require:
- The online process does not require any additional documents
- In-Person attendance with original ID to create an account on Dubai ID Smart pass (for those who don’t have existing account)
- Details of the Trade name, activities, Commercial registry, Partners & managers.
What is the cost of an Instant License?
- Payment Voucher: This includes the application fees, initial approval fees, trade name reservation fees and license issuance. The cost varies dependent on the activities but starts at approximately AED 9,000.
- Sponsorship Fees: It is mandatory to have a local sponsor (a National Service Agent (NSA) for Civil Business or Sole Establishment or a 51% local partner for LLCs) for any mainland license in the UAE- sponsor fees depend on your individual agreement with said sponsor.
- An investor can request for the establishment card to Dubai Immigration, once it is obtained, he or she can then apply for the residence visa.
- Instant License is ideal for investors who just need a license and visa in the first year, but do not want to open a bank account or start business operations in the first year.
How Affiniax Partners Can Assist?
Affiniax can assist you in obtaining your Instant License in Dubai and can advise the best Method and the right activities for your company formation. To know more about Instant License setup and the full breakdown of all the relevant costs, please get in touch with us at firstname.lastname@example.org.