How to Get an Instant Trade License in Dubai

Dubai is considered as one of the best destinations for establishing a new business or expanding the operations of an existing foreign business. The strategic location and investor-friendly environment of this Emirate attract millions of investors every year. According to the ‘2018 Top FDI Performers Report’ by FDI Intelligence, Dubai ranked no. 1 globally in terms of foreign investment. It is mandatory for every business to obtain a trade license before setting up a company in Dubai. Instant trade license facility was introduced in Dubai by UAE Government for economy boost.

What is An Instant Trade License?

Trade license also referred to as a commercial license is issued by the Department of Economic Development (DED) in Dubai. It is required for carrying out commercial activities such as import and export of goods, sale of goods and services. Professionals offering services in a specific industry are also supposed to obtain this license. From July 2017, the UAE Government has introduced the facility of instant trade license in Dubai for boosting the country’s economy. This will help entrepreneurs to obtain their trade license in just five minutes.

Advantages of obtaining an Instant Trade License

• Easy and Fast to obtain when compared to a general trade license that takes up to 5 working days. Instant trade license can be issued in just 5-10 minutes.
• Less paperwork.
• One can start business activities immediately after obtaining an instant trade license.
• Trade name registration is non-mandatory for the first year of operation.
• Memorandum of Association and Rent contract for the first year is not required at the time of applying. It can be submitted at the time of license renewal.
• Online or In-person application. 

Who all are eligible for an Instant Trade License in Dubai?

• Limited Liability Company
• Single Person LLC
• Sole Proprietorship
• Civil Company

Documents required for obtaining Instant Trade License

If you are applying through the DED’s e-channel portal:

Original ID for creating an account, for those who do not have a UAE Pass ID, they are supposed to create one before applying.

If applying through service centres, smart lounges, or happiness lounges:

• Passport copies of all license parties (partners and managers)
• UAE visit visa copy of foreign partners, If not having a residence visa
• A copy of residence visa and NOC from the current sponsor
• A copy of your visa

When you apply for an instant trade license, it requires a sound knowledge of the process and should be free from errors. If you are finding the process complex, it is recommended to seek help from a reliable company formation expert. Corpin Consultants can assist you in obtaining an instant trade license in Dubai. Contact us at +971 55 843 2911 or ek@corpinconsultants.com to know more.