Starting a business in the UAE has never been easier. With recent improvements to the licensing process, entrepreneurs can now secure a business license in as little as two working days.
This guide breaks down each step from selecting your business activity and jurisdiction to submitting documents and opening a bank account to help you navigate the process smoothly and efficiently. Whether you’re a first-time founder or expanding into the UAE, here’s how to get started the right way.
Select Your Business Activity
Picking up an activity is the first step in setting up a business, and Fanar helps in picking up the specific activity to make sure application processes for the business licenses are easy to navigate. The business could fall under commercial, industrial, professional, or tourism banners, which means all types of licenses are available in the UAE. Choosing one that fits the acceptance criteria comprehensively is critical, as it defines the scope of the business as well as preset boundaries for control mechanisms.
Fanar seeks to assist novice entrepreneurs who do not know much about bespoke licensing by ensuring that all supporting materials are properly organized for the application on the very first attempt.
Choose the Location of Your Business (Jurisdiction)
In addition, you need to determine the emirate of the UAE in which you want to start doing business. The location selected by you will influence the business’s organizational form and its scope of activities. The main jurisdictions in the UAE include:
- Mainland: Allows you to trade both within the UAE and internationally. This option offers the greatest flexibility.
- Free Zones: These zones provide benefits like tax exemptions, 100% foreign ownership, and simplified import/export processes. However, businesses in free zones can only operate within the zone or internationally.
- Offshore: Ideal for businesses that plan to operate outside the UAE.
Fanar will assist you in selecting the best location for your business, explaining the benefits and limitations of each jurisdiction to help you make an informed decision.
Prepare the Required Documents
With your business activity and location selected, the next step is gathering the necessary documentation.
Typically, the required documents include
- Passport copies: Clear copies of the passports of the business owners.
- Visa status: Proof of your visa or residency status in the UAE (if applicable).
- Proof of address: A utility bill or tenancy contract that shows your business location.
- Business plan: Some business licenses may require a brief description of your business plan.
Fanar Advisor offers a checklist to help you gather all the necessary documents and ensures that everything is in order before you submit your application.
Reserve Your Business Name
Choosing a name for your business is an important step. Your name must comply with UAE regulations avoid names that are offensive or too similar to existing brands or government organizations.
Fanar Advisor can help you choose a name that adheres to these rules and manage the name reservation process, saving you time and effort.
Submit Your Application for the License
Now that everything is ready, you can submit your application for the business license. This involves
- Filling out the application form: You’ll need to complete a form that matches your business license type. Fanar will help you with this process to ensure that all details are accurate.
- Submitting the required documents: Along with the application form, you will need to submit documents like passport copies and the reserved business name.
- Paying the fees: Fees will vary based on the type of license and the location chosen.
Fanar will assist you by reviewing your application, ensuring all documents are in place, and helping you submit them without delays.
Get Your License
Once your application is processed and approved, you will receive your business license. The best part?
With Fanar Advisor, you can receive your license in just two working days! A license is one of the fastest processes in the world, allowing you to begin your operations as soon as possible.
The license grants you official permission to operate within the UAE. If you choose a free zone or offshore location, you’ll also receive a company registration certificate.
Open a Bank Account
Once you have your business license, the next step is opening a business bank account. A business account is essential for managing your company’s finances.
To open an account, you’ll need the following documents:
- Your business license.
- Passport copies of the business owner(s).
- Proof of address.
Fanar Advisor can help you open a business bank account with one of the UAE’s top banks, making the process easier and faster.
Apply for Visas
If you intend to hire employees or need a visa for yourself, the next step is to apply for the appropriate visa. The UAE offers several types of visas:
- Investor visa: For business owners.
- Employee visa: For hiring staff.
- Golden visa: For Partners & Investors.
Fanar Advisor can help you apply for the correct visa based on your needs and assist in the process of bringing your team to the UAE.
Conclusion
Obtaining a business license in the UAE within two working days is possible with the right guidance and support. Fanar Advisor simplifies the process by helping you choose your business activity, select a location, gather the necessary documents, and submit your application efficiently. They can even assist with bank accounts and visa applications, making the entire business setup experience hassle-free.
Ready to start your business in the UAE? Contact Fanar Advisor today to get your business license and take the first step toward a successful venture!
