IndustryNews

Dubai Slashes Instant Licence Fee From AED 3000 to Just AED 250

Dubai Economy has reduced the fee for instant licences by over 90 percent, from Dh3,000 to Dh250. A press statement issued on Monday said the same fee will apply when the instant licence is renewed.

An instant licence includes four legal forms – Limited Liability Company, One Person LLC, Sole Proprietorship, and Civil Company. Business owners can obtain online a general commercial licence, which includes general trade activity, in addition to activities that do not require external approvals and are permitted for both citizens and residents.

Furthermore, the licensee is given membership in Dubai Chamber instantly, an establishment card of the General Directorate of Residency & Foreigners Affairs (GDRFA) as well as three work permits for employees from the Ministry of Human Resources and Emiratisation (MoHRE) once the trade licence is issued. The registration of ‘Native’ workers in the MoHRE is an added feature of the Instant Licence.

Nimish Goel, the partner at WTS Dhurva Consultants, said the reduction in instant license fees and online application will give impetus for individuals and start-ups to commence its business venture in the region. “The Dubai government has taken all possible measures in terms of reduction in fees, customs duty refund, and deferment of taxes to support local businesses in the UAE. The measures taken will reduce the cost of doing business, provide necessary liquidity and business continuity during these tough times,” said Goel.

The instant licence service reduces human interaction through automated licensing procedures and easy access to a business licence. 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 said the Business Registration and Licensing (BRL) sector in Dubai Economy issued 550 instant licences during the first quarter of 2020. Around 73 percent were for commercial category and 27 percent for professionals. The report showed that the number of instant licence owners during Q1 2020 reached 1,746, with men accounting for 88 percent.

The nationals of UK, South Africa, Saudi Arabia, Egypt, Jordan, India, Pakistan, China, Sudan, and the Philippines were the top entrepreneurs who secured the most instant licences.

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