According to the Dubai Trade Organisation, there are now well over 105,000 formally registered companies spread across Dubai’s economic landscape, and, over the past three years, this flourishing city in the United Arab Emirates has had multiple quarters of double-digit increases in the number of trading businesses.
Contrary to popular belief, Dubai’s economy is not exclusively reliant on oil production, as evinced by the fact that less than 5% of the city’s GDP is derived from natural gas exports. As a point of fact, the real estate sector, tourism industry, manufacturing niche, and other contemporary segments comprise the lion’s share of Dubai’s wealth, much like every other modernised, 21st century city.
Upwards of 100 shipping lines and 80 airlines link Dubai to the global commercial scene, which is why the city is able to put forth a diversified, lucrative opportunity for a wide range of entrepreneurial endeavours, but you have to understand the regulatory requirements governing local businesses in order to maintain regulatory compliance and long-term sustainability.
This brief report will summarise the requisite documentation and certification process that you have to adhere to in Dubai.
The Compulsory Documents and Paperwork
When it comes time to institute or renew trade license in Dubai, there are three primary credentials that must be addressed and established:
- A lawful Tenancy Contract and Ejari, which ensures that you are compliant with regard to the laws and norms concerning residential rentals and building occupancy.
- An official Typed DED Renewal Form that is filed with Dubai’s Department of Economic Development. This document outlines your business activities, trade name, and other essential aspects of your organisation.
- Up-to-date Copies of Passports from all of the partners, associates, and administrators operating within the confines of your company.
This might seem like an ostensibly exhaustive, time-consuming collection of prerequisites, but you should understand that the Department of Economic Development has recently established intuitive online gateways that enable you to seamlessly and affordably complete the licensing process. With this notion in mind, it’s in your best interests to coordinate your registration procedures with a resourceful entity that specialises in administering the requirements on your behalf, especially if you haven’t handled these sensitive legal matters in the past.
Outsourcing Your Licensing Obligations
The logistical impediments that arise during license renewals can leave you and your cohorts feeling overwhelmed from a financial and an operational standpoint, but you can eliminate these complications easily by linking up with a local team of advisors and facilitators who understand the legal and regulatory workings within the UAE.
Regardless of your firm’s field of focus, you can avail yourself of guided licensing support by partnering with an Administration and PRO specialist, which is far easier and more cost-effective than attempting to establish an in-house taskforce to address your certification needs.
Therefore, be sure to visit the website of an administrative authority, and read through the three-step licensing process before scrolling down and filling out the call-back request form. Almost immediately, you’ll be able to begin check-marking all of the mandatory aspects through a transparent, easy-to-understand progression with your liaison.