Establishing a business in the United Arab Emirates is a dream that most of the entrepreneurs and people in industry see. UAE is now considered as a breeding ground for entrepreneurs due to the various advantages and the numerous benefits that the country and its government provide. The government is constantly evolving and understanding the changes that are happening in the business environment and why the changes and amendments are required. These changes will allow businesses to flourish more and contribute extra to the economy of the country.
With the development of the economy of the country in mind, the Government of Abu Dhabi has introduced a license named as the Tajer License, which will help in the business set up in Abu Dhabi. This license initially allowed the Emiratis to establish a business without having to rent a physical office in the country. This license had almost 100 types of companies under is purview. This Licence was introduced in the year 2017 to reduce the cost to be paid for establishing a company and to increase the ease of doing business.
Recently, Abu Dhabi Department of Economic Development (AD DED) has made changes to the Tajer license and has expanded the scope of it. This license can now be obtained by all the residents of the UAE and even the GCC nationals. The department also increased the number of commercial activities for which the Tajer license can be obtained to 1,057.
The Tajer Licence is also known as a Trader License and can be obtained by a company without presenting the Articles of Association or the lease contract. There are many different types of legal business structures that allowed under a Tajer license. These legal structures include
- One-Person company for all the Emiratis and GCC nationals
- A Limited Liability Company (LLC) for all the residents of the country
It is to be noted that to form an LLC or to obtain a sponsor for establishing a branch of any company, any foreigner still needs to take help of a local partner or any firm.
This step has been taken by the government to diversify the economy of the country. This license will also encourage entrepreneurs and people in business from all over the world. The license will allow more and more companies to come into the country and focus on various businesses. This will enable the country to shift its focus from the revenue of the country from the hydrocarbon industry to the multiple sectors.
The “Golden Package”
The scope of this license was increased because of the very high demand for the license. The Golden Package is a new assortment of services that the Abu Dhabi Business Centre of the Abu Dhabi Department of Economic Development (AD DED). This package allows the companies to conduct various commercial activities, seven main categories, which are:
- Service and Operations
- Business and Contracting Commerce
- Consultancy and Design
- Sales and Maintenance
- Productive Local Families
- Transportation and Management
This license was so simplified that the concerned government department has to issue 1,800 such licenses in the first six months of commencing such service.
This Licence will also help the presence of a business in social media and will help them grow in the market. It will help the new companies to acquire licenses and will also provide a one-stop shop for gaining al the required permits and licenses in the country. This license will allow companies from all over the world to come to UAE and then grow their business and will help the companies to conduct transactions, do import and export businesses and also will help in opening a bank account in the country. Such a license will help bring the government and departmental organizations to your side of the court.
Abu Dhabi will obtain huge benefits and will significantly amplify the speed of business incorporation and will also provide various benefits. If you too want to reap the benefits of the Tajer license, do contact our business setup consultancy to get more details on the various services provided by us. In case of any query do contact us – we will be happy to help you.