Different forms of business licenses and registrations in Dubai
If you are thinking about Company formation in Dubai and UAE then you have to take care of some points which are essential.
The basic requirement for all business activity in Dubai is one of the following four Categories of licenses.
Commercial License – this license can be classified as a general license for any types of commercial businesses in the city. In most cases, this is related mostly to business that deals with trading (e.g.: imports, exports, etc.)
- Professional License– this license is released to individual businesses that offer a specific service, mostly related to crafts, profession, and the likes.
- Industrial License– an industrial license is issued to corporations that deals with manufacturing of goods or anything related to industrial enterprises.
- Branch office of a foreign company – These licenses are all released by the Dubai Economic Department (DED). However, licenses for some categories of business/trades involve permission from respected ministries and other authorities, for example, banks and financial organization needs an approval from the Central Bank of the UAE. Insurance organizations and related firms need an approval from the Ministry of Economy and Commerce, manufacturing need an approval from the Ministry of Finance and Industry, lastly, pharmaceutical and medical products need an approval from the Ministry of Health.
More specific procedures will apply to businesses dealing in oil or gas production and related industries. Practicing some business activities (e.g. jewelry and insurance) requires the submission of a financial guarantee issued by a bank which operates in Dubai.
Overall, All commercial and industrial businesses in Dubai should be enrolled with the Dubai Chamber of Commerce and Industry.