Professional License In Dubai - 10 Zone

By Author: Siddhumenega
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Professional License In Dubai:

Professional companies are usually partnerships that can offer professional services, such as most consultancies, media, craftsmen & artisans, and accounting.

These companies cannot engage in commercial activities. The main feature of a Professional Company is that 100% foreign shareholding is permissible (very few exceptions); however, this form of a company can be formed only by an individual or a group of individuals (corporate shareholding is not allowed). These companies can bid for Government contracts, as opposed to free zone companies, which are usually not allowed to do so. Businesses can be registered anywhere in the mainland; a wide range of choice - from the lanes of old Deira to the shining towers of Business Bay.

What activities can be carried out with a Professional License in Dubai?

A Professional License can have consultancy activities, such as marketing consultancy or management consultancy, artistry, crafts, Information technology, or media-related activities.

Click below to download a list of consultancy activities allowed under a Professional ...
... License in Dubai.

All DED Consultancy Activities:

A Professional license can be registered on a desk space as well. However the desk space allows for only one employee visa apart from two investor visas. Most startup licenses prefer to start initially with a desk space, and then shift to a full office once the business is more well established.

Click here to enquire about desk space packages for professional licenses in Dubai.

Who can be the owners of a Professional License in Dubai?

The legal structure of the license can be Sole Establishment (if one Partner) or Civil Company (If two or more partners). The UAE National will have no shares in the License but will only act as a Service Agent, i.e. a liaison between the entity and Government departments such as the Ministry of Labour.

Only individuals can be shareholders in a Professional License.

Does a Professional License in Dubai need a manager?

Every license has to appoint a manager. The name of the manager will be on the license and he/she is responsible for the day-to-day activities of the company.

The manager of the License would have to take an exam in the American University of Dubai (AUD), the cost of which is AED 2,100. It is an online multiple-choice-questions-based test and is a 100-mark test. 60% is the passing criteria.

Is there a minimum capital required for a Professional License?

There is no minimum capital for a Professional License in Dubai. However, it should be mentioned in the Memorandum of Association.

Trade names:

The trade name of a Professional License in Dubai will have to mention the activity of the firm. There are a few regulations on permissible trade names for companies licensed by the Dubai DED. You can read our blog post about selecting a trade name for your company, for more details.

Advantages of setting up a company in Dubai mainland:

In 20 years, Dubai has become an attractive business destination for investors and companies that want to operate in the high-growth markets of the Middle East, Asia and Africa. Here are some of the advantages of company formation in Dubai.

Growing Economy:

Dubai has been successful in terms of economic growth, and in diversifying away from oil. Sectors such as trade, logistics, transportation, finance, services and tourism account for almost
75% percent of Dubai’s GDP.

Favourable Investment Climate:

Dubai’s Department of Economic Development (DED) has been instrumental in driving Dubai’s economic agenda. Their initiatives in making doing business in Dubai easier, and strong Government support, have resulted in Dubai being attractive to both local and international investors.

Free Zone network:

Dubai has more than 22 Free Zones that attract investors from all over the world. These are organized into clusters and provide one-window clearance for businesses that setup and operate. Investors have 100% ownership of their assets, along with no restrictions on repatriation of profit and capital.

Tax friendly:

There are no personal or corporate income taxes. This enables companies in Dubai to deploy their capital and earnings to expand their businesses, and attract good talent from all parts of the
world.

Geographic Location:

Dubai is located between Asia, Europe and Africa, a gateway to over 2 billion people.

Excellent Infrastructure:

Dubai has an excellent network of roads and highways, a world-class Metro system and exceptional ports and airport facilities.

Access to a pool of Human Resources:

Companies operating in Dubai have access to a multicultural pool of talent from across the world. The local Emirati population is highly educated and seeks more active participation in the private sector.

Security:

The UAE has had a politically stable climate since inception. Dubai is known as one of the most tolerant, prosperous, secure and safe societies in the world and is ranked as the top Middle Eastern city in Mercer’s Quality of Life Index.

How to apply for a Professional License in Dubai?

The process of applying for a Professional License in Dubai is as follows:

Select business activity:

Find a UAE National to act as service agent

Decide the distribution of the shareholding, the profits and losses among the partners and other operational modalities.

Reserve of a new trade name. Click here to know more details on acceptable trade names.

Sign the Partnership Agreement in the Dubai Courts. Click here to access a draft Partnership Agreement.

Rent office space in Dubai. You can choose from business centre desk options as well.

Pay the DED fees and obtain the Professional license.

Contact us today to speak to our consultants who can guide you through the process.

Costs of a Professional License in Dubai:

The cost of a Professional License in Dubai starts from AED 25,000, and depends on the activity chosen, and office space that the company rents. Investors now have the option of setting up such a license with a desk space as well. Additional costs include the registration of the company with the Ministries of Immigration and Labour and visa costs.

Click here to download a fact sheet that details the main details and costs incurred in setting up a Professional License in Dubai mainland.

Advantages of a Professional License in Dubai:

Easy setup – The license can be set up within a few days, sometimes even in a few hours, if you meet the required criteria. You can set up such a license with a desk space, unless more visas are required.

Cost-effective – Unlike many free zones, the Dubai company is economical, since you do not need to commit to a large office space in the first year.

Flexibility of doing business – Unlike free zone companies, Professional companies in Dubai can do business anywhere in the UAE, and in other countries as well. The company can also enter into agreements with Government entities.

Range of locations – Unlike a free zone, which is a designated area, you can set up a Dubai Professional License company in any area of Dubai, including Deira, Bur Dubai, Business Bay and anywhere else on the Dubai mainland.

Options for multiple visas – Dubai companies allow for unlimited visas when setting up on the mainland. The number of visas allowed depends on the office space taken, which is usually calculated at 80 square feet per visa. In some cases, the DED is flexible on this allocation, for example in instances where the Dubai company has a large outdoor sales force.

Sponsor of dependents – The Professional License company can apply for multiple visas for their employees, and the shareholders and employees can sponsor visas for their dependents - spouse, child, parents, maid, cook etc.

A mainland company in Dubai can open bank accounts anywhere in the UAE and operate in a tax-free environment, with 100% repatriation of profits.

We provide turnkey solutions for setup in Dubai, including providing a UAE National sponsorship and desk/office space options. Speak to one of our experts who can guide you through the process of setting up a Professional License in Dubai, today!

Check For Update: https://10zone.ae/professional-license-in-dubai/

I'M Siddhumenega from Bangalore, India. Working as a Content Writer