Running a business in the United Arab Emirates (UAE) is very lucrative. There’s a huge pool of talented workers in every business sector, and there is a fantastic digital infrastructure that business owners are able to plug into. This means businesses grow quickly with minimal capital or investment.
The UAE, most especially Abu Dhabi, is so business-friendly. That being said, it is worth pointing out the fact that you would have to go through a process if you wish to add or change your existing trade license in Abu Dhabi. In this article, we’ll help you tick a couple of legal boxes in order for you to expand your business.
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How to Add or Change an Abu Dhabi Trade License
To add activities or change activities covered in your Abu Dhabi-issued license to change, there are a few steps you need to follow in order to successfully do so and carry out new economic activities. They are as follows:
- Complete the application form for amending a trade license – you will have to secure the form for amending a trade license. If you want to request the form, contact the local licensing authorities or seek the help of experts on business setup in Abu Dhabi.
- Secure the approvals of relevant authorities – the approvals that you need will depend on the specific activities you wish to carry out in the Emirate. If a certain economic activity is closely regulated by a specific government department, then you will have to be approved first from that specific government body.
- Submit the supporting documentation – your application for amending your Abu Dhabi trade license will require a specific set of supporting documents. The paperwork that you need to acquire will depend on the type of amendment you need.
- Issuance of the newly amended trade license – as soon as the licensing authority in Abu Dhabi approves of your application, collect the new license.
Take note: fees for changing business activities in an Abu Dhabi trade license will depend on the activities applied for and the business sector you belong.
General Requirements for Changing Trade License in UAE
- Notary public attested contract annex – this applies in the case of changing the company’s legal form; changing the capital; modifying shares of stakeholders; sale and assignment; changing name of the manager on the license
- Local newspaper announcement both in English and Arabic – This applies in the case of transferring the license to industrial from commercial or to commercial from industrial; changing the company’s legal form; reduction of company capital; amending owners of a company; changing the name of the business
- Ministry of Economy Certificate of Registration – this applies in the case of changing manager’s name of a foreign business branch under a trade license; changing the name of the branch of a foreign company; changing the service agents for a branch of a foreign company; changing a foreign investor’s nationality in the license; changing the legal form of a branch of a foreign company
- Approvals of certain entities
- Existing trade license
- Completed application form
- Power of attorney
For further information on how to amend a business license in Abu Dhabi, call us today! FAR Consulting Middle East has seasoned business setup specialists in Abu Dhabi who can address your unique needs and requirements.
What is the Process of License Issuance for all Legal Forms and Activities?
- Obtain the initial approval
- Trade name reservation
- Obtaining of relevant authorities’ approval if necessary, depending on the economic activity
- Obtaining company Memorandum of Association
- Obtaining a service agent contract with an occupational license
- Rental or lease contract that is issued by a real estate regulator
What is Required in Order to Open a Branch of a Foreign Company?
In order to open a branch of a foreign company in UAE, there is a need to secure the following:
- File a registration
- Obtain initial approval
- Trade name reservation
- Passport copy of service agent
- Identity card copy of service agent
- Passport copy of the director
- No objection letter issued by the current sponsor of the director
- Governmental agencies’ approval, depending on the company’s activities
- The decision of the company’s Board of Directors in opening a branch in the UAE and appointing a director
- Memorandum and Articles of Association copy – must be duly certified by MOFA in UAE and UAE embassy in the company’s originating country
What are Commercial Activities?
Commercial activities are activities that require capital to be practiced. This includes retail and wholesale training, transportation, construction, communication, stockpiling, real estate, leasing, and financial intermediation. A commercial license will be required to perform any of the aforementioned activities. In order to complete the process successfully and ensure there are no delays or the risk for an application to get denied, contact a business setup team in Abu Dhabi.