Anyone in Dubai or in the UAE in general who would like to set up a mainland company is required to obtain what's called a Professional Licence. Which is one of the three types of trade licenses currently available - (Commercial, Industrial, Professional)
A professional license is a requirement for anyone who wants to offer professional services in the UAE. This license establishes that the skilled individual is fully legal and authorized to provide such services in any kind of profession. Individuals who want to work as freelancers must first obtain a professional license if they plan to legally offer their services to clients in the UAE. There are certain businesses that may fit in both commercial and professional licenses. That is why it is advisable to consult a business setup company such as ITQAN before applying for a trade license.
In addition, another benefit of having a professional license in Dubai is that it offers 100% ownership of their company to the foreign investor and there is no need to find a local sponsor, even though they are operating outside a free zone. Interested investors have the option to choose between these two legal entities: Sole Establishment and Civil Company for their new investment in Dubai.
While a professional license allows for 100% foreign ownership and 100% capital repatriation, the business must appoint a local service agent, who completes the legal formalities but does not hold any liability or authority over the business.
Professional license holders are able to offer their services in industries such as:
You will have to submit your license application, a brief outline of your business activities, what it entails and what it is about and the following documents to the Department of Economic Development (DED):
One of the main benefits of getting a professional license in Dubai is that it allows you 100% ownership of your business. On the other hand, businesses with a trade license are required to have a UAE national who will hold 51% shares in the business. Meanwhile, the foreign investor holds the remaining 49%.
ITQAN is a Business Consultancy with a focus on communication and providing creative business solutions to our partners. Setting up a company in the UAE has never been so easy and mastering it makes it easier. If you are looking for a business partner to facilitate your business formation in the UAE and launch your dream platform without any hassle, contact our team for assistance. Our team of consultancies, admins, and business associates will work with you to seek an insight into your business and adapt our solutions to your requirements. At ITQAN our work ethic lends us the advantage of being nimble on our feet; our team will be near you at all times to anticipate your needs, and offer solutions to steer and promote your business visibility.
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