Starting a company in Dubai just got more convenient with a virtual business license coming into the picture. The virtual business license is a joint initiative of Dubai International financial center, Dubai economy, Smart Dubai, General Directorate of Residency and Foreigners Affairs, and Supreme Legislation Committee. Dubai Virtual Business License allows investors, entrepreneurs, and freelancers from all around the globe to set up their businesses in the UAE without having to stay in the country. People from over a hundred countries are qualified to apply for the newly launched virtual company license in Dubai. This business license will allow the holder to start a company in any of their chosen business sectors, namely, technology, media and entertainment, and even in the creative industries such as design, etc., and many service sectors.
Continue on to understand more about how you can get the new virtual company license in Dubai.
Eligibility Guidelines For the Virtual Company License In Dubai
- Virtual Business License cannot be allotted to residents of the UAE or anyone planning to live in the country shortly
- The person wishing to become the owner of the virtual business in Dubai needs to be a tax-paying and law-abiding citizen from any of the hundred and one approved countries.
- Only some business activities are acceptable for the holder of a virtual company license. Business activities that are either service-based, such as consultancies or retail-oriented activities, are a few of the approved activities.
It should be fair to point out here that business owners in Dubai who choose to start a virtual business in the UAE are subject to corporate or income tax in the country of origin. Besides that, the company will also be subjected to VAT if the revenue of the virtual company in Dubai surpasses a hundred dollars per annum. If this happens then, the virtual business license holder will have to register the business with the UAE’s federal tax authority.
How To Apply For The Dubai Virtual Business License
Follow the steps provided below to apply online for a virtual company license in Dubai:
1. Register Your Company
To start the process of registration of your virtual company, visit the Dubai Virtual Commercial City’s official web portal, fill the application form according to their stipulated requirements, and give all the necessary information that they may require. At this stage, you will also have to provide your trade license name to the concerned regulatory authority and explain the business activity that you plan to carry out to them in detail.
Read more: How to Obtain an E-commerce License in Dubai?
2. Upload Your Documents
Following are the documents needed to apply for a virtual company license in Dubai:
- A photocopy of your passport (with more than three months validity)
- Proof of physical address (any utility bill or official letter, not older than three months)
- Documentation of tax residency (if you are not from any of the approved 101 countries)
- A recent passport-sized photograph with a white background (should be current or not older than three months)
3. Track The Status Of Your Application
The authentication process will start as soon as your application is submitted to the authorities. The Dubai Government will carry out a thorough background check. The authentication process typically takes three weeks to around a month. Once the process is concluded, you will receive an email of confirmation of the approval or rejection of your application.
4. Pay The Dues For The Virtual Business License
After triumphantly validating your identity and verifying your passport at the government office and other concerned authorities, you are required to pay the charges for your Dubai Virtual Company License. You can pay the dues through VCC’s official payment portal present on its website, provided by the Dubai Government, or you can submit it by hand through a bank transfer or via a check. This Virtual Business License fee depends on the legality of the license. The total expense rendered of the virtual company license is eight hundred fifty dirhams, that is, six hundred and fifty dirhams per year for the virtual business license and an additional 200 dirhams for the company’s trade name.
Need a Hand?
Reach out to KWS MIDDLE EAST in case of any queries or for more information regarding the virtual company license in Dubai. Our business setup consultants can assist you with the entire process and are well-versed in other aspects of business incorporation in the UAE. Be it Dubai Mainland or Free Zones. We can help you establish a business setup in Dubai.
Contact us today and book your commitment-free call with us today!
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