Virtual Company License in Dubai is gaining popularity even after the work-from-home trend during the pandemic is diminishing and people are getting back to regular office work. Many investors choose Dubai for registering their Virtual Companies due to the enormous business benefits.
A virtual Company License in Dubai enables investors to remotely set up a company in Dubai and start working from anywhere they want to. The biggest advantage of the Virtual Company License in Dubai is, it does not require an office space.
Investors can easily obtain a Virtual Company License in Dubai without taking physical office space. They can work remotely with the Virtual Company License from anywhere in the world.
Investors from around the world can come to Dubai and get their virtual Company License. There are numerous business activities in the field of creativity, media, marketing, consulting, etc., that remote working is the best suited for.
All such business activities can be conducted in UAE using the Virtual Company License in Dubai.
What is a Virtual Company License in Dubai for?
The Virtual Company License is for foreign entrepreneurs, investors, and startups who are waiting to settle in Dubai. Alternatively, it is also for those who want to explore the business opportunities in Dubai by operating from their home country.
Virtual Company License will enable freelancers and business people abroad to have access to a regulated e-commerce platform and easily work with Dubai–based companies and explore new market opportunities.
Benefits of Having a Virtual Company License in UAE?
It helps entrepreneurs who work remotely from other nations to expand their reach to the UAE market and leverage the exceptional opportunities the UAE offers. Over the past few years, the demand for Virtual Company Licenses in Dubai has been growing.
The Investors will have numerous benefits from obtaining a Virtual Company License in Dubai. It will help them to easily start operating the business and expand the business operations. The absence of office space requirements while registering for the Virtual Company is a highlight.
So, entrepreneurs can remotely register their company and obtain a Virtual Company License in Dubai. Similarly, there are many business benefits for investors in setting up a Virtual Company in UAE.
Following are some additional benefits for entrepreneurs from obtaining the Virtual Company License in Dubai.
- Low costs and no administrative burden to start and grow your company
- Access to business opportunities in Dubai
- Access to new customers, markets and investment opportunities
The Virtual Company License is a joint initiative of Dubai Economy, Dubai International Financial Centre, General Directorate of Residency and Foreigners Affairs (GDRFA), Smart Dubai, and the Supreme Legislation Committee.
The Virtual Company License in Dubai is focused on three main sectors: Creative industries, Technology, and Services. It is eligible for non-resident individuals to register a company and obtain a Virtual License without an office space.
Virtual Company License in Dubai and Tax Implication
The investor must be from a country that has a Double Taxation Avoidance Agreement (DTAA) Treaty signed with UAE and have agreed to share tax information about their citizens and residents.
Also, by obtaining a virtual Company License in Dubai, the investor is not a tax resident of UAE. Hence, the taxation policies of their home country will be applicable to the revenue earned in the UAE.
The Virtual Company License in Dubai is a gateway to explore the new market and interact with the UAE marketplace by being in your home country. Here is how you can apply for the Virtual Company License in Dubai.
Applying for a Virtual Company License in Dubai
There are 3 steps in applying for the Virtual Company License in Dubai.
Step1: Choosing the Business Activity
There is an extensive list of permitted activities for the Virtual Company License in UAE. Your business activity must fall into any of those listed categories to be qualified for the license.
Virtual Company License owners who are non-residents will have tax implications in their home country. For tax-saving purposes, the entrepreneur can settle in the UAE and make the country their base for all business operations. (They will have to register a new company and take a UAE resident visa)
You can check with our consultants for the detailed activity list.
Step 2: Company Name Approval
The company name has to be submitted to the authorities. There is a strict guidelines for the naming conventions. Our consultants will assist you in choosing the right naming for your company.
Step 3: License Application
As part of the License Application, one must submit the following documents
- Passport Copy
- Proof of Address
- Proof of tax residency
- A recent photo on white background
- Completed application including your name in Arabic.
- Any previous association with UAE (Previous residence visa, employment details, etc)
For any query on the Virtual Company License process, talk to our experts right away!
Alternate Business License Types Available in the UAE
Social Media Influencer License in Dubai
The National Media Council (NMC) acts as the regulatory authority and issues a Social Media Influencer License in Dubai. They provide two types of Permits for Social Media Influencers to indulge in promotional activities with various brands in the UAE.
There are two options to get a media license as a social media influencer in the UAE
1. Get an Individual License from the NMC
Obtain a trade license from the economic department as a commercial entity willing to do business in UAE. Then get an individual license from NMC.
The license will enable you to freely post and promote blogs and vlogs. You can establish your influencer marketing channel into a full-fledged business with this license type.
2. Get into a Contract with an NMC Certified Agency
Get a contract with an NMC-certified agency, it includes a few costs but would be a cheaper option.
It will be almost like working with a large agency, it might hamper your creativity throughout the process. The agency will be having its own set of requirements, guidelines, and operations.
Freelance Permits are now available in many Free Zones based in Dubai, Abu Dhabi, Sharjah, and Ras Al Khaimah. These Permits allow specialized individuals in the media, technology, and education sectors to offer their services in UAE.
Freelancer Permit has helped to boost diverse skills in the UAE market. The Freelance Permit issued by Free Zones of UAE is a game-changer. For the younger generation who wish to be entrepreneurs of the future, it is the perfect way to enter the world of business.
Freelance Permits can be obtained from Twofour54, Dubai Media City (DMC), Dubai Knowledge Park (DKP), Dubai Internet City (DIC), Dubai Development Authority (DDA), and Ras Al Khaimah Economic Free Zone Authority (RAKEZ)
To know more, read: Freelance Options Available in UAE
For any further assistance on Virtual Company License in the UAE, give us a call right away!
Contact: Aurion Business Consultants