A new Dubai Instant company License ??

[talker]

Hello,
Is this a new type of license?
should I consider this before getting an FZE?
thanks

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On Tuesday, His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Prime Minister and Vice President of the UAE and Ruler of Dubai announced the launch of Invest Dubai – a digital platform for entrepreneurs looking to set up shop in Dubai.

The Dubai DED Instant Licence allows entrepreneurs to get a licence in 5 minutes with no pre-approvals. The Instant Licence allows entrepreneurs to start a business with no tenancy contract and no requirement for a bank account for 12 months. The licence is available to many categories of activities and four types of establishments – Limited Liability Company, One Person L.L.C, Sole Proprietorship and Civil Company.

The licensee gets an establishment card from the General Directorate of Residency and Foreigners Affairs along with three work permits for employees from the Ministry of Human Resources and Emiratisation once the trade licence is issued.

While this licence itself is not a new feature, the Invest Dubai platform allows you to check availability of the licence based on activities, number of partners and type of company. It also shows you the fee payable if you were to go for the licence.

 

[troubled soul]

https://invest.dubai.ae/
Here is the official website for that

and News article here

https://www.khaleejtimes.com/news/launch-your-business-in-dubai-in-minutes-all-you-need-to-know

 

[rowena]

Yes, it is a new portal, it looks promising. The portal allows freelance and sole establishment options for expats now.

 

[talker]

Yes, it is a new portal, it looks promising. The portal allows freelance and sole establishment options for expats now.

Thanks Rowena!
Do you think I’ll be able to get a residence with that?
What will be the main differences between this and an establishment with SHAMS free zone?

 

[Nicholas Van Orton]

Thanks Rowena!
Do you think I’ll be able to get a residence with that?
What will be the main differences between this and an establishment with SHAMS free zone?

As I see it, there won't be any tangible differences with respect to the current FZE/FZ companies/residency programs. They're just upgrading it to be 100% digital (bank account opening included) as part of their Smart City directive. If you set up a freezone co or as a freelance, the residency visa for 1 person should still apply.

NVO

 

[rowena]

Thanks Rowena!
Do you think I’ll be able to get a residence with that?
What will be the main differences between this and an establishment with SHAMS free zone?

They should provide visas since the type of incorporation(sole establishment) supports visa allocation.

SHAMS is not in Dubai, it is a different Emirate(Sharjah). They provide the same services but Dubai licenses are more reputable with the better online system(SHAMS does not have).

As I see it, there won't be any tangible differences with respect to the current FZE/FZ companies/residency programs. They're just upgrading it to be 100% digital (bank account opening included) as part of their Smart City directive. If you set up a freezone co or as a freelance, the residency visa for 1 person should still apply.

NVO

I don't think bank account opening is included but it shouldn't be hard to open a bank account with the Dubai license.

 

[bibing]

Didn't read the links yet.... Anybody have a ballpark figure to setup a company this way including a visa?

 

[bibing]

Tried to register but when I inserted the email address it gave me this error

 

[CaptK]

Didn't read the links yet.... Anybody have a ballpark figure to setup a company this way including a visa?

Ball park figure is 6K, you need to add ESR requirements and other costs so all in budget from 8K plus.
If you intend to live in the UAE then 6K is enough but of course your living costs will be at least 15K per year.

 

[Fred]

Didn't read the links yet.... Anybody have a ballpark figure to setup a company this way including a visa?

Let me know if you need any help forming a Dubai company with residence visa and local bank account.

 

[ceerock]

Let me know if you need any help forming a Dubai company with residence visa and local bank account.

what do i need to set up a company in Dubai?

 

[Fred]

Passport copy, passport picture and your desired company name.

Company formation is done within 2-3 days. All done online. The company grants you the Visa application that takes together with the medical test additional 1-2 days. After that you receive the emirates ID within 2-3 days and we are going to open you some business and personal bank accounts in local UAE banks. Everything on the government side can be speed up with extra $ called VIP or Royal service.

One time setup costs including all the small expenses are around 7.000 Euro.

If you want a longterm reliable setup in the UAE go with a Dubai company. In every point better then all the small emirates.

 

[Mr Gus]

Passport copy, passport picture and your desired company name.

Company formation is done within 2-3 days. All done online. The company grants you the Visa application that takes together with the medical test additional 1-2 days. After that you receive the emirates ID within 2-3 days and we are going to open you some business and personal bank accounts in local UAE banks. Everything on the government side can be speed up with extra $ called VIP or Royal service.

One time setup costs including all the small expenses are around 7.000 Euro.

If you want a longterm reliable setup in the UAE go with a Dubai company. In every point better then all the small emirates.

I am going to Dubai on the 8th of February to setup my company and residence and bank accounts, currently have requested pricing by some of the bigger international firms.

You sound very knowledgeable to me, could you PM me?

 

[Fred]

Send you PM. Always made good experience with meeting forum members in person here in Dubai.

 

[Gediminas]

SHAMS is not in Dubai, it is a different Emirate(Sharjah). They provide the same services but Dubai licenses are more reputable with the better online system(SHAMS does not have).

In reality, there is no real difference if you don't have plans to run the business locally in UAE.

 

[Fred]

In reality, there is no real difference if you don't have plans to run the business locally in UAE.

When it comes to the Visa there is. As most of the people want to live in Dubai or Abu Dhabi it's additional hassle if you ever need a service and have your Visa issued by let's say Fujairah.

If you plan to live in Dubai - company incorporated in Dubai is always better to sell tho the banks.

I get your point that there is no difference between a Ras Al Khaimah company on flexidesk or an Ajman company on flexi desk - both will be considered by the banks as the same type of po box company without any real substance in an Emirate without any real economy.

 

[Gediminas]

When it comes to the Visa there is. As most of the people want to live in Dubai or Abu Dhabi it's additional hassle if you ever need a service and have your Visa issued by let's say Fujairah.

Personally, at least so far, I have never faced any issues with that.

both will be considered by the banks as the same type of po box company without any real substance in an Emirate without any real economy.

The point is that most of this forum readers will have such a plan - entity in UAE, visa, and no plans for local substance (because their business is international). For such cases, it doesn't matter if you registered your company in Dubai or Ajman.

 

[rowena]

I have Dubai company+visa and a small emirate company. Dubai visa is always better because integrated with lots of online channels of Dubai also more reputable. Small emirates are always cheap but worse customer service and more paperwork instead of digital portals.

 

[troubled soul]

Totally Agree , Think Long term , UAE is complex structure country. Dubai is not ordinary state like other country.
If you want to live in Dubai, Do register company in Dubai freezone. If something is cheap ,There is a reason for that.
Hope You get my point.

 

[Mark Rucken]

When it comes to the Visa there is. As most of the people want to live in Dubai or Abu Dhabi it's additional hassle if you ever need a service and have your Visa issued by let's say Fujairah.

If you plan to live in Dubai - company incorporated in Dubai is always better to sell tho the banks.

I get your point that there is no difference between a Ras Al Khaimah company on flexidesk or an Ajman company on flexi desk - both will be considered by the banks as the same type of po box company without any real substance in an Emirate without any real economy.

Hello, thank you for information, very good.

I have a question, can a FreeZone company incorporated in any Emirate own propertly in Dubai (direct ownership of the property)? If yes, which Emirate do you recommend?