THE INSTANT LICENSE06-03-2018
The Dubai Department of Economic Development (“DED”) has recently introduced a new type of “Instant License” to be issued to investors, The Instant License service introduces a mechanism whereby investors can obtain a license within five (5) minutes only.
Traditionally, obtaining a trade license may take up to six (6) months or longer, depending on the type of license, DED’s required approvals and set of requirements. Additionally, by acquiring an Instant License, you are exempted, from the requirement of obtaining a lease agreement (i.e. an office space) during the first year of incorporation. It is noted that DED will require a lease agreement to be registered along with the Ejari Contract upon renewal of the license only.
About Instant Licenses
· Service Description: Applicants shall personally present themselves before one of the DED Service Centers or TLG can apply on your behalf.
· Availability: The Instant License is only available for UAE nationals and expats who hold a UAE residency visa.
· Legal Form: The Instant License Can be obtained for several types of legal entities, such as Limited Liability Companies (“LLCs”), Sole Proprietorship, and Civil Works Companies. However, Private and Public Shareholding companies will not be able to benefit from this service. Further, Instant Licenses cannot be obtained for types of companies which would require external approvals.
· Activities: Applicable to all types of activities licensed by DED.
How Can TLG Help?
The requirements mentioned above may vary on a case by case basis. Certain individuals and companies may not be eligible to apply. TLG’s Contracts, Corporate & Commercial Division would be pleased to provide you with detailed information regarding Instant Licenses, assessing each individual’s and company’s specific qualifications and applicability for the same, completing all required paper work, and ensuing timely and efficient completion of the process of obtaining the Instant License on your behalf.
If you are interested in obtaining an Instant License, have any questions, or require legal advice on DED’s new initiative, please do not hesitate to contact us.