Virtual Company License in Dubai-Quick Facts

Happy news for all entrepreneurs planning to set up their business in Dubai! Dubai economy has recently announced the launch of ‘virtual company license’ enabling non-resident investors and freelancers to set up their business in Dubai without having a residence visa. This initiative inclines with the third article of the 50-year charter announced by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE for building a virtual commercial city in Dubai.

What is A Virtual Company License?

A virtual company license will enable investors to register and manage a business without residing in Dubai or the UAE. It meets the international legal standards thereby investors can easily perform all business-related activities digitally including document signing and submission.

Advantages of  A Virtual Company License

• Less administrative and business setup costs
• Complete Online access to your company anytime anywhere
• Explore exciting business opportunities in Dubai
• Meeting new customers, markets and generating investment opportunities
• Enrollment in virtual companies’ directory

Eligibility Criteria for Virtual Company License

• Applicants cannot be residents of Dubai or the UAE.
• Owners of virtual companies in Dubai must be either nationals or tax residents from any of the approved countries mentioned in VCC’s official website.
• Only business activities from the predefined sectors mentioned in the website can set up a virtual business in Dubai. These sectors include printing and advertising, computer programming, consultancy and related activities; design services in the fields of fashion, jewellery, and interior design.
• All applicants are subject to a background check by Dubai Government authorities

Steps to Apply

• • Visit the Dubai Virtual Commercial City’s official website and fill up the company registration form. Enter your name, contact details, date of birth, passport information and previous experience in Dubai, if any. Mention the trade license, name of the company and the intended business activity.

Upload the documents listed below:

• Passport copy (with more than 3 months till expiry)
• Proof of address (any utility bill or official letter, not more than 3 months old)
• Proof of tax residency (if you are not from the approved countries)
• A recent photograph with white background (not more than 3 months old)
• Once the application is submitted, the Dubai government authorities will perform background verification within a month. Once it is completed, the applicant may receive an email notification with the approval or rejection status.
• Soon after receiving the approval, the applicant must make a personal visit for identification and passport verification.
• After validating the identification, the applicant can pay the cost of virtual license via ePay, the VCC’s official payment gateway.

With the introduction of this virtual company licensing initiative, there will be a drastic rise in the number of business setups in Dubai. If you are residing in the UAE and planning to set up your business in Dubai, Corpin Consultants can make the entire process easier for you. Call +971 55 843 2911 or drop an email to info@corpinconsultants.com to know more about our business setup services.