How to get Business License

Dubai company formation

It is the process of registering a business in Dubai meeting the conditions by the government of UAE. There are many companies rising in Dubai to many locations to enjoy the business benefits in a safe manner. Apart from the business functioning certain things that have to be performed before the business registration are obtaining the business trade license for your business.

Based on the nature of business activities the license are issued for the further legal proceedings for the company formation.

Any business sin Dubai must have a trade license and this process can make simple with Corp roots consultants Dubai for your particular category. There are many business types like finance, consulting, health, printing, food trade etc. Let us see the details below to get a solution for the question  How to get Business License? in Dubai

Basically 3 categories of licenses in Dubai for the company registration

1. Commercial License

It is applied for the company involving trading activities like both import and export by complete commercial oriented business

2. Industrial License

It is applied for the company undergoing production based works

3. Professional License

It is issued for the company types like service providers, professionals, artisans, and craftsmen.

To get business trade license for your company to do the business registration has to submit the supporting documents for your company to the Department of Economic Development. It is a government agency which is servicing to issue license documents for the business enterprises and they do their service in different locations.

Basic Requirements for business license

Approval process in Dubai

1. Business enterprises like banks and other financial institutions– get approval from UAE Central Bank
2. Manufacturing companies – need Approval from the Finance and Industry Ministry
3. Insurance and other relevant firms- need approval from the Economy and Commerce Ministry
4. Medical and pharmaceutical products – need approval of the Health Ministry
5. Gas or oil production, additional endorsements – need approvals from other government agencies
6. Dubai Chamber of Commerce and Industry also have some role in the business registration process

Requirements for business ownership

Companies in Dubai based on the business type need to request for the ownership rights about 51 percent to the shareholders as per the UAE government

The requirement of business ownership is an exemption for some conditions:

1. The companies will be in the Free Zones of Dubai.
2. 100% local ownership locations
3. If there is any company owned under Gulf Cooperation Council (GCC) who have entered enters into a partnership with another company wholly owned by UAE nationals.
4. 100% ownership for GCC nationals or entities is allowed
5. In professional companies in which total foreign ownership is allowed.
6. Branch office of a foreign company registration in the UAE.

Legal business structures

Business structure for your business in Dubai is ultimately your choice, there are basically few legal structures as per Federal Law

1. General Partnership
   2. Partnership in Commendments
   3. Public Shareholding
   4. Private Shareholding
   5. Joint Venture
   6. Share Partnership
   7. Limited Liability

Share partnership and Limited liability are most preferred and suggested for the small and medium sized companies