A company license is the most important document to start a business in the United Arab Emirates. It is a permit to carry out business. The company license mentions all major activities that a company can carry out in UAE. Obtaining, renewing or cancelling a trade license can be a complicated process that requires expert knowledge.
The issuance, renewal and cancellation of company licenses are carried out by the licensing authority where the company is situated. Broadly, there are three company jurisdictions in the United Arab Emirates being:
Mainland
These companies in UAE are governed by the government licensing department of each Emirate. For instance, the process of issuance of licenses, renewals of licenses, and cancellation of licenses for mainland companies in Dubai are carried out by the Dubai Economy.
Free zones
There are over forty-eight (48) free zones locates in different emirates of the United Arab Emirates. Each free zone has its own process, requirements, and eligibility criteria for issuing renewal, and cancellation of licenses (including liquidation). One must accurately follow all these processes to achieve the desired result.
Offshore
UAE also has multiple offshore jurisdictions. Simply put, offshore companies are businesses that are registered in UAE but run outside of the country. Similar to free zones, different licensing authorities govern offshore companies in UAE. Each licensing authority has its own way of issuing, renewing, and cancelling a business license.
Sometimes external approvals are also required to setup a company. The licensing of business necessitates approval from authorities and certain ministries such as financial institutions and banks, insurance companies, Central Bank, Ministry of Economy and Commerce. Manufacturing businesses require the special consent from the Ministry of Industry and Finance, whereas medical and pharmaceutical products need approval from the Ministry of Health. For oil or gas production, there are several other authorities from whom you need approvals. Some major activities such as insurance and jewellery setups require a financial guarantee which is issued by a bank already operating in UAE.
The PRO’s at Kabayan Ehsan know at the back of their hand the eligibility criteria, required documents and paperwork required by any licensing authority or any external department in UAE. Our PRO’s assistive network at each licensing authority and external department ensures that your work related to company license is done sooner than promised.
Leave an inquiry on our website or call us for availing our company license service. We are always quick to respond.