Now Reading
Dubai reduces instant licence fee by over 90 per cent to Dhs250

Dubai reduces instant licence fee by over 90 per cent to Dhs250

For existing licence holders, the new fee will apply at the time of renewals

Dubai Economy has reduced the fee for instant licences by over 90 per cent, from Dh3,000 to Dh250.

For existing licence holders, the new fee will apply at the time of renewals.

An instant licence can be obtained for four legal forms of businesses – limited liability company LLC, single member LLC, sole proprietorship and civil company.

Dubai Economy said that in Q1 2020, 550 instant licences were issued by its Business Registration and Licensing (BRL) division.

Read: Dubai Economy issues 4,692 instant licences to date

Among these, 73 per cent were commercial licences, while 27 per cent were issued to professionals.

The service which the government introduced in 2017 enables businessmen to obtain a commercial license within five minutes, offering ease in conducting businesses in the emirate.

Furthermore, it helps businesses secure their commercial licence in a single move for the first year without having a company’s lease or location.

Read: UAE’s Ministry of Economy reduces fees for 94 services

The instant licence offers the added option of an electronic memorandum of association (eMOA), in addition to procuring the license and entry in the Dubai Economy commercial registry.

Licensees are even given instant membership to the Dubai Chamber, an establishment card of the General Directorate of Residency & Foreigners Affairs as well as three work permits for employees from the Ministry of Human Resources & Emiratisation post the issuance of the trade licence.

The number of instant licence owners in Q1 2020 reached 1,746, with men accounting for 88 per cent of the overall total.

“The Instant Licence service reduces human interaction through automated licensing procedures and easy access to a business licence,” Dubai Economy said via a statement on Twitter.

“It guarantees that entrepreneurs can start their business activity immediately after the licence is secured, and then complete the remaining requirements of the licence, such as approvals from other relevant government entities,” it added.

You might also like

© 2020 MOTIVATE MEDIA GROUP. ALL RIGHTS RESERVED.

Scroll To Top