The backbone of commercial, professional, and industrial business in Dubai is the Department of Economic Development. A one-stop solution for aspirants looking to offer their business services in the UAE is a DED professional license in Dubai.
From Financial Consultancy to a Printing Firm, you can offer various services. If you have apt knowledge about the procedure, the process to secure a professional license from DED is pretty straightforward.
Getting in touch with legal advisors at Startup Zone can loosen up all your worries. Our experts handle all the legalities and paperwork so you are free to focus on other growth-related activities.
What Is A DED License?
The legal permit to carry out all your business activities mentioned in the license is known as a DED License. After the successful evaluation of your application, the Department of Economic Development issues the license.
The DED license or commercial license can be applied based on your business requirements. Collaborating with Startup Zone can help you obtain the right license with the easiest process.
The Steps To Follow To Secure A DED Professional License In The UAE
1) Legal Entity
You must determine the type of legal entity and then apply for a professional license in Dubai. This license empowers you to set up your service agency or sole proprietorship with 100% foreign ownership.
While submitting the list to the DED, you need to list down all the activities you wish to carry out. Any issue with your activity approval list will be reverted back to you.
2) Trade Name
The second step is to reserve a legal trading name for your venture in the UAE. All the naming convention guidelines before finalizing the list of desired business names must be followed by the applicants.
Any derogatory terms or words that hurt the sentiments of a community or religion should not be used as a name.
3) A Local Service Agent
An LSA(Local Service Agent) can help you get a DED License in Dubai without any equity in your company. The adequate assistance with documentation, licensing and translation work can be provided to them.
Meanwhile the LSA will not have any legal ownership in your business. Partnering with Startup Zone will help you set up your business at a nominal cost.
4) Obtaining A Business License
DED mainland business setup procedure can be proceeded once all the above steps are complete. All the required documents and certifications for the DED Evaluation must be submitted. If there is no discrepancy in your business then the license will be provided smoothly.
5) Bank Account
To open a corporate bank account is critical for managing your monetary transactions. Do not forget to choose a reliable bank that offers high-class banking services and long-term benefits. We at Startup Zone suggest the best banks after analyzing business model and transaction frequency.
How Much Does A DED License Cost?
The cost of a DED License depends on your business activities along with the region of company formation. In Dubai, a DED professional license usually costs around AED 7,000 to AED 15,000. The said amount includes the DED license, trade name, administrative services, and other costs.
In Dubai, the cost of a commercial DED license is higher since you need approval for more business activities. The number of visa applications also differs in these licenses. For DED Dubai Company Formation license, you can expect anything between AED 11,000 to AED 35,000. Best part is that you can enjoy complete business ownership with both these licenses.
Top 3 Benefits Of DED Dubai Company Formation
The lucrative marketplace and advanced infrastructure in Dubai offers multifold business benefits. The top benefits include:
- The DED Dubai company formation gives you access to the local market
- 100% foreign ownership is the best part about launching
- The DED provides diverse business opportunities by maintaining more than 200 permissible business activities.