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    After a record third quarter, Dubai property sales are nearing Dh500 billion

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          What you need to do in order to own a business in the UAE?

          June 6, 2022
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          Are you a business owner or prospective entrepreneur looking to expand your business in the UAE? If you do want to start a business in the UAE, you can do it without having to relocate or even visit the country.

          The economic departments of Abu Dhabi and Dubai both offer virtual company licenses, which allow international investors to start a firm from anywhere in the world. The license, however, has specified conditions that must be met. If you’re interested, here are the specifics on each of these alternatives, as well as how to apply.

          Abu Dhabi Virtual Licence

          The Abu Dhabi Department of Economic Development offers a digital business license called the Abu Dhabi Virtual Licence (ADDED). The license is for investors and companies from outside the UAE, according to ADDED, and it does not require physical residency in the nation. These are the steps to take if you want to apply for an Abu Dhabi Virtual license:

          Step 1: Create a UAE Pass account

          The UAE government has released an app that allows users to access over 5,000 government services. You can still register as a user if you are not a UAE resident by completing these steps:

          1. Get the ‘UAE Pass’ app for your Apple or Android mobile.
          2. Open the app and select ‘Sign up.’
          3. If you don’t have an Emirates ID, the app will prompt you to create one (this is the identity card issued to all UAE residents). ‘No, I don’t have an Emirates ID’ option should be selected.
          4. Fill in your personal information, such as your name, birth date, and nationality.
          5. Enter your phone number (non-UAE numbers are allowed in the app) and email address.
          6. You’ll get a verification number on your phone and in your email, which you’ll need to enter.
          7. For the UAE Pass app, create a pin. Every time you access a government service and choose the option to log in using the UAE Pass, you’ll need to enter this pin.
          8. You can also use ‘facial recognition’ as a quick way to confirm your identity as a user.

          After you’ve created your UAE Pass account, you’ll be able to create your virtual license.

          Step 2: Register for the Virtual Licence

          1. Go to www.adbc.gov.ae/citizenaccess/CustomPage/InfoDeskAll.aspx on the Abu Dhabi Business Centre’s (ADBC) website.
          2. You will be given the option of utilizing your UAE Pass to log in. Simply press the button, and an authentication request from UAE Pass will be sent to your phone. After entering the verification pin, you will be taken to the ADBC dashboard.
          3. Select ‘Abu Dhabi Virtual license’ from the ‘Commercial licenses’ tab.
          4. Fill in the ‘economic name,’ which is the name of the firm you need to register.
          5. Enter your contact details.
          6. Choose the activity you’ll do. You can open a virtual license in Abu Dhabi in any of the following 13 economic areas, according to u.ae, the official UAE government website:

          – agriculture

          – manufacturing

          – repair

          – contracting

          – maintenance and installations

          – retail trade

          – transport

          – services

          – leasing services

          – health and entertainment events

          – management and provision of the supporting services

          – wholesale trade and

          – import and export.

          1. Make a digital copy of your passport and upload it.
          2. Review the information you’ve entered and click ‘Submit.’

          Step 3: Make the payment

          You will receive a text message and an email to finish the payment procedure once you have submitted the application. According to u.ae, the application fee for a virtual license is Dh1,000, plus federal fees that vary depending on the activity chosen and the legal form.

          The virtual license will be granted once you have made the payment.

          Also Read: Business visa for Dubai: How to apply for the five-year multiple-entry tourist visas

          Dubai Virtual Company Licence

          The Dubai Virtual Commercial City (VCC) programme was developed by Dubai Economy and other Dubai government agencies to allow entrepreneurs and freelancers from around the world to start a virtual firm in the UAE even if they do not live there.

          Who can apply for the Dubai Virtual Company Licence?

          To obtain a virtual company license in Dubai, an individual must:

          • must not be a resident of the United Arab Emirates.
          • must be a citizen or a ‘tax resident’ of one of the nations listed.
          • Conduct worldwide business activities in pre-defined areas such as creative industries, technology, and services, regardless of location.

          The approved list includes 112 countries, according to the Dubai Virtual Commercial City website. You can apply for a Dubai Virtual Company Licence if you are a citizen or tax resident of one of the approved nations.

          Here are the steps you must take:

          Step 1: Fill in the registration form

          You can find the registration form for a Virtual Company Licence on the Department of Economy and Tourism (DET) website – https://vcl.dubaided.gov.ae/anonymous/createapplication

          Fill in your personal information, such as your complete name, date of birth, nationality, and residency, and the trade name for the business you want to start.

          You’ll be asked to choose a business activity. The following are the permitted business activities for virtual businesses in Dubai:

          Computer programming, consultancy, and related activities:

          – Computer Systems & Communication Equipment Software Design

          – Electronic Chips Programming

          – Web-Design

          – Social Media Applications Development & Management

          – Cyber Security Architecture

          – Public Networking Services

          – Cyber Risk Management Services

          – Auditing, Reviewing, and Testing Cyber Risks

          – Managed Cyber Security Services Provider

          – Marketing Services Via Social Media

          Design activities:

          – Fashion Design

          – Jewellery Design

          – Design Services (interior design, garden design)

          – Calligraphers & Painters

          – Product Design

          Service activities related to printing and advertising:

          – Books Binding

          – Typesetting Services

          – Colour Separation Services

          – Design & Artwork Services

          – Greeting Cards Production & Distribution Services

          – Promotional Gifts Preparing

          Step 2: Upload documents

          After that, you’ll be asked to upload the following files:

          – Passport copy (with the passport valid for at least three months)

          – Proof of address.

          – Proof of tax residency (if applicable).

          – A recent photo on white background.

          Step 3: Wait for approval

          According to the Virtual Commercial City website, the approval procedure can take up to 30 days once the application is submitted.

          Step 4: Payment after approval

          After you’ve received license approval, you’ll need to finish the payment process.

          – Dh200 for trade name reservation

          – Dh680 per year for the virtual license

          – Dh300 for identification and validation

          (Licence renewal fees are Dh680 annually.)

          The virtual company license will be granted once you have finished the payment process.

          Tags: BusinessBusiness in UAEDubaiGuideOwn a Business in the UAEUAE

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