Depending on the nature of the activity a business entity plans to undertake, one of these license categories will be issued:
1. Commercial License – to be issued to a company that will engage in any kind of trading activity.
2. Industrial License – to be issued to a company that will engage in manufacturing or any industrial activity.
3. Professional License – to be issued to service providers, professionals, artisans, and craftsmen.
- Issuance of licenses for banks and other financial institutions must have the approval of the UAE Central Bank.
- Issuance of licenses for manufacturing companies must have the approval of the Finance and Industry Ministry.
- Issuance of licenses for companies engaged in insurance and other similar firms must have the approval of the Ministry of Economy and Commerce, UAE.
- Issuance of licenses for medical and pharmaceutical products must have the approval of the UAE Health Ministry
- For companies engaged in gas or oil production, additional endorsements and approvals from other government agencies may be needed
In general, business registration in Dubai must have the involvement of the Dubai Chamber of Commerce and Industry.
Company Registration in Dubai: Requirements for business ownership
Every company set up in Dubai or elsewhere in the UAE is required to have no less than fifty-one percent (51%) shareholding of UAE nationals.
Company Registration in Dubai: Legal business structures
A major consideration in business registration in Dubai and the other Emirates is the choice of a business structure. The Federal Law defines the seven legal structures of business organizations, as follows:
1. General Partnership
2. Partnership in Commandments
3. Public Shareholding
4. Private Shareholding
5. Joint Venture
6. Share Partnership
7. Limited Liability
Company Registration in Dubai Procedure
Step 1. Decide who will be your UAE national partner – “Sponsor”
Step 2. Get a name and activity approval from Department of Economic Development (DED)
Step 3. Look for business premises and make a tenancy contract
Step 4. Make a Memorandum of Association (MOA) with the Sponsor and submit to DED
Step 5. Submit the MOA and the License application at DED along with the required legal documents and the tenancy contract.