All companies are required to have a business license, regardless of where it is in the world or if it is an e-commerce or traditional brick-and-mortar shop. If you want to be able to benefit from owning a Dubai-based company without having to be in the emirate yourself, it’s possible through a virtual company license! A virtual company license allows an investor from around the globe to coordinate enterprise-related activities over the internet, including digital submission and document signing with the documents being considered legally binding within the UAE.
A virtual company license in UAE allows a foreign investor to open a corporate bank account in a UAE bank and gain e-residency.
How to Get a Virtual Company License in Dubai
To register your business with a virtual company license in Dubai, follow these simple steps:
Step 1: Determine your eligibility in acquiring the license
The license is only for non-resident investors and freelancers. Just like with the majority of the Dubai free zones, commercial licenses come with a list of permitted business activities. The virtual license mainly focuses on creative- services and technology industries.
Among the permitted commercial license activities and categories are as follows:
- Printing and Advertising
- Design and Artwork
- Preparation of Promotional Gifts
- Computer Programming, Coding, Consultancy, and all Related Activities
- Web Design
- Cyber Security Architecture
- Social Media Applications Management and Development
- Marketing Services Through Social Media
- Jewelry Design
- Fashion Design
- Design Services
In order to be eligible in acquiring a virtual company license in Dubai, you must not be a resident of the UAE. There are other requirements that must also be satisfied in order to apply for the permit. Among them is being a tax resident or citizen of a county implementing the Convention on a Mutual Administrative Assistance Related to Tax Matters. Countries eligible are the ones that share tax information about their citizens and residents, including United States, United Kingdom, China, Russia, and Canada.
Step 2: Select a business name
As you are registering a company in UAE, the policies on naming companies in UAE also apply and they are the following:
- The name of your business should not be in contradiction to the activity of your company. It must be in reflection to your business activities
- The name of your company shouldn’t be protected via copyright or be reserved by another business operating in UAE.
- The company name shouldn’t contain any indecent or obscene words and mustn’t be offensive to the public even when it is the name of a person.
- The name shouldn’t indicate the name of a God or a divine attribute.
- Some words are fully restricted like the name of a city, UAE, Districts, and UAE Airport Codes.
- Trade name can’t begin with Global, Middle East, International, etc. nor it can’t be translated.
- Companies are to utilize Google search in order to make sure the proposed name of the business doesn’t belong to others.
- The name of the business can’t partially or fully contain local or global government projects or active brands.
Step 3: Submit the requirements to the local authorities
With the formalities sorted out, the requirements can then be submitted with the help of a company formation specialist in UAE.
Requirements to acquire a virtual company license in Dubai are as follows:
- Duly completed application form including the name of the applicant in Arabic script (applicable to an individual whose past or current nationality is that of any Arab country), details regarding experience in Dubai (if the applicant has lived or visited UAE in the past), and details of whether the applicant has already owned or directed a UAE company in the present or in the past
- Recent photos on white background (shouldn’t be more than three months old)
- Tax residency proof (should provide evidence that you’re from an approved country)
- Proof of address (Official letter or utility bill no more than three months old)
- Passport copy (must be more than three months until expiry)
- Payment receipt for company license cost
Note: the cost for a virtual business license can be broken down into different components including AED 200 for the trade name reservation, AED 680 for a virtual license, and AED 300 for validation and identification.
Company Formation Specialists in UAE
To help ensure you complete the process of applying for a virtual company license in Dubai, seek the help of FAR Consulting Middle East’s team of business setup professionals. our team of company registration experts is passionate about addressing the needs of local and foreign investors. Apart from handling the processing of a virtual company license, our team can also assist in the formation of mainland or free zone business in UAE, open corporate bank accounts, and provide legal counsel on appropriate financial institutions that suit your unique business needs.