Abu Dhabi, the capital of the UAE, strives to develop and organize businesses to contribute to the sustainable economic development of the nation, and the Abu Dhabi Chamber of Commerce and Industry works continually on promoting investments in the Emirate.
Today, we are going to talk about one of the most in-demand licenses in Abu Dhabi – Instant License.
The Instant License initiative from the Department of Economic Development (DED) is a service whereby businesses can secure their commercial license in one-step within five minutes without having a company's lease or location for the first year only.
What is Instant License in Abu Dhabi?
Last year, the government of Abu Dhabi launched a new licensing scheme that grants business registration approvals almost immediately, without the need for a physical location. Abu Dhabi Instant License offers access to free zone and investment licenses in the Emirate with broader licensing categories.
The initiative has been launched by the Department of Economic Development (DED) to accelerate investments in the private sector. Abu Dhabi has set a target of nurturing the private sector's contribution to the GDP of Abu Dhabi's from the current 32 per cent to 37 per cent by 2021.
The initiative is part of 'Ghadan 21', a three-year programme declared in June 2018 which commenced in January 2019.
Procedure to Obtain an Instant License in Abu Dhabi
There are a few steps involved in obtaining an instant license. They are –
- Choose a legal structure for your Abu Dhabi business
- Choose a business activity from the list of available Instant License DED activities
- Determine the structure of shareholding of the business, including a company manager
- Choose three business name options
- Determine the total share capital of the business
- Complete all critical application forms
- Submit required documentation
- A payment voucher will be generated
- Pay fees
- An instant license will be provided
Documents Required for Obtaining an Instant License in Abu Dhabi
The following documents are needed to complete the Instant License application:
- Passport copies of all shareholders – all the shareholders must be present during the official application procedure
- Residence visa copy Emirates ID
- NOC from current sponsor/employer (if required for foreign shareholder)
- Emirates ID and Local Sponsor passport copy
- Individuals applying for a General Trading license in Dubai will need to use for DED e-services and obtain a Dubai Smart Pass ID
What is the Cost of Instant License in Abu Dhabi?
These costs are usually charged by consultants but may vary depending on your need.
- Payment Voucher: This includes the application fees, initial approval fees, trade name reservation fees and license issuance. The cost varies depending on the activities.
- Outsourced Centre Fee
- Sponsorship Fees: It is compulsory to have a local sponsor (a National Service Agent (NSA) for Civil Business or Sole Establishment or a 51% local partner for LLCs) for any mainland license in the UAE, sponsor fees depend on your agreement with them.
How can Commitbiz Assist you?
Commitbiz Management Consultant can assist you to obtain your Instant License in Abu Dhabi and can counsel the best approach and the right activities for your particular incorporation. Our experts can also act as your secure local sponsor / local partner for the instant license to make sure that you fully own and control the company. For more information on Instant Licenses in Dubai or Abu Dhabi or any company setup matter in Dubai or Abu Dhabi, please get in touch with us.