BUSINESS LEARNING IN DUBAI-TYPES AND ACTIVITIES OF BUSINESS LICENSES
Over the years, Dubai’s business development and related services are gaining momentum with increasingly new company registrations being launched each year.
The UAE government continually implements entrepreneur-friendly policies such as Long Term Residence Visa, reducing some set-up fees, etc.
UAE aims to propel its economy to higher heights by attracting more investors into the UAE market and supplying business setups with world-class infrastructure.
UAE Free Sectors, Mainland and Offshore Companies
The Free Zones, Mainland, and Offshore give investors a whole host of options to choose from in UAE for the development of the company.
Depending on the essence of your company, chosen business activities and target audience. In the UAE you want to create your dream company in, you can choose which business jurisdiction.
There is a variety of business activities to choose from, whether you are developing your company in any of the three legal jurisdictions.
The reason for choosing the right business jurisdiction depends primarily on whether you only target international markets or whether you also consider UAE and other GCC markets for your business.
There are a variety of advantages, such as working in the local market, applying for government contracts, setting up your business anywhere in the UAE, no cap on employee visa quotas, the establishment of a limited liability company, etc.
While in the case of free zones, you get benefits like 100 percent foreign ownership, 100 percent profit repatriation, exemption from customs duties, world-class infrastructure, easy business formation, etc.
Types of Business Licenses in the UAE
The selection of the appropriate business license is of paramount importance and is one of the first steps in the establishment process of UAE companies. Business activities in the UAE are divided into four primarily commercial licenses.
The following are the most popular type of Business License available in the UAE.
Commercial License in Dubai
The commercial license for the companies involved in the purchase and sale of products is given at UAE. The Dubai Commercial License allows companies to trade within or outside the UAE.
A list of Foreign Trade Licenses for your specific business practices is available here.
• Publications and media materials trading
• Used Furniture trading
• Oil & gas trading
• Spare parts trading
• Gold & precious metals trading
• Trading in chemicals
• Trading in Automobile
• Safety equipment trading
• And many more
Professional License in Dubai
Every person or business affiliated with using the individuals ‘ intellectual abilities is expected to have a Professional License to operate their services in Dubai and the rest of the UAE.
If the owner is more than one person, the business enterprise may be registered as a civil works company.
List of business activities that come within the UAE specific category of Professional License.
• Consultancy & Services
• Insurance Consultancies
• Computer Consultancies
• Information technology Consultancies
• IT Infrastructure Consultancy
• Environmental Consultants
• Tax Consultancy
• Marketing Consultancies
• Management Consultancies
• And many more
Industrial License in Dubai
Industrial License is awarded for companies engaged in industrial and manufacturing activities in Dubai and the UAE. To grant an Industrial License it is mandatory for the organization to have a physical office in the UAE.
Specific types of Industrial Licenses available
• Garments Manufacturing License
• Meat products Manufacturing
• Dairy Products Manufacturing
• Animal & Birds Feed Manufacturing
• Carpet Manufacturing
• And many more
Freelance Permit
Freelancing has earned popularity in the UAE already. Dubai, Abu Dhabi, Ras Al Khaimah, and Fujairah Free Zones provide individuals with Freelance permits.
These permits focus on specialized individuals in the media, technology, art, and entertainment sector to offer their services on a consultancy basis, in addition to their full-time work.
Currently, Dubai Media City, Dubai Knowledge Park, Dubai Internet City, Ras Al Khaimah Free Zone Authority, Fujairah Creative Zone, Twofou54, etc.
The following artistic and advertising practitioners are given freelancer licenses.
• Actor
• Animator
• Audio/Sound Engineer
• Cameraman
• Content provider
• Copywriter
• Media Specialist
• And many more
Business License Issuing Authorities in Dubai /UAE
In Dubai, the Economic Development Department (DED) is a government agency that grants business licenses to Mainland companies.
It is the respective Free Zone Authority which issues the business license when it comes to free zones. The same goes for the types of offshore businesses too.
The entrepreneurs are faced with a number of important decisions when starting a new business. The first is, which business activity you will be trading under.
This depends on the industry in which you are dealing and the types of business activities that you wish to pursue.
Choosing the business activity can be quite confusing since there are more than 3000 approved activities to choose from in the UAE as per DED and the UAE free zone authorities.
Because of the excellent facilities and services available, Dubai continues to attract more and more foreign investors.
When you’re looking to start reaching the UAE and the world market by setting up your business in Dubai, the most sought after is the Free Zone business licenses.
Free Zones Business Licenses are popular with investors because of their ease of business forming, a wide range of business activities and a host of business benefits.
To know further on Business License types and Company Formation in the UAE, talk to our experts right away!
