Introduction of Business in Dubai

The Most basic requirement for all business activity in Dubai is one of the following three categories of licence:

• Commercial licenses covering all kinds of trading activity in Dubai ;

• Professional licenses covering professions, services, craftsmen and artisans in Dubai

• Industrial licenses for establishing industrial or manufacturing activity in Dubai .

These licenses are all issued by the Dubai Economic Department. However, licences for some categories of business require approval from certain ministries and other authorities: for example, banks and financial institutions from the Central Bank of the UAE; insurance companies and related agencies from the Ministry of Economy and Commerce; manufacturing from the Ministry of Finance and Industry; and pharmaceutical and medical products from the Ministry of Health.

More detailed procedures apply to businesses engaged in oil or gas production and related industries.

Practicing some trade activities (e.g. jewellery and insurance) requires the submission of a financial guarantee issued by a bank operating in Dubai.

In general, all commercial and industrial businesses in Dubai should be registered with the Dubai Chamber of Commerce and Industry.

Fifty-one per cent (51 %) participation by UAE nationals is the general requirement for all Dubai-established companies except:

• Where the law requires 100% local ownership;
• In the  JAFZA(Jebel Ali Free Zone)  DIC(Dubai Internet City) Dubai Airport Free Zone,Dubai Media City or the  (DIFC) Dubai International Finacial Center  
• In activities open to 100% AGCC (Gulf Cooperation Council) ownership;
• Where wholly owned AGCC companies enter into partnership with UAE nationals;
• In respect of foreign companies registering branches or a representative office in Dubai;
• In professional or artisan companies where 100% foreign ownership is permitted.

Posted by winston wambua , Senior Business Consultant at Adam Consulting

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