We know that Dubai has one of the most remunerative markets that deliver several offers and provide a good result. It entices businessmen all over the world, but to discover a dream of specifying a business in Dubai, investors have to transfer to the same place as has been the case commonly.
Recently, Dubai has formed several offers for investors to set up a business that can be utilized nearly from outlying locations. This offer saves the commitment of relocation for an investor and on the other hand, needs minor assets resembling the standard path of forming the business.
To set up a virtual company in Dubai, you make an application for a virtual company license in Dubai. This license can help investors set up a business and run it with virtually or no need to relocate to the country. A virtual company license in Dubai permits businessmen to take out diverse actions like presenting and marking documents electronically and it will be permitted within Dubai.
What is A Dubai Virtual Company License?
The Dubai commercial license is a type of license that permits investors from all over the world to utilize all business activities online, like document signing and digital proposal, and have them be lawfully mandatory in the UAE. Recently, a new guideline has occurred that allows the start of a new firm in Dubai and no need to buy a home there, for foreign entrepreneurs.
The program’s inventors announced that the new virtual trade hub will draw a minimum of 100,000 businesses from all over the world and they set a goal for this project, to uphold Emirates’ position as one of the highest 10 FDI. This project permits investors that come from all over the world to utilize digitally in Dubai or do not need to visit the city. Also boosts business confidence and delivers many new limits for Dubai’s and the UAE’s ambitions & growth.
Requirements For Obtaining A Virtual Company License in Dubai
There are some requirements for acquiring a virtual company license in Dubai.
- The United Arab Emirates residents are not allowed to make an application for a virtual company license.
- In Dubai, virtual firm landlords must be residents of one of the 101 countries that have been accepted.
- In Dubai, only predefined business activities are allowed to settle a virtual firm. The services activities are connected to printing and publicity, consultancy, computer programming, and jewelry designing styles.
In Dubai, the virtual business owner needs to know that their business will still be counted toward corporate, private, and social taxes of the country, where they were established. In the United Arab Emirates, if your virtual business earning increases more than $100,000 then your business will have to pay 5% Value Added Tax in the UAE. It’s necessary that a Dubai virtual commercial license owner record the company with the UAE Federal Tax Authority.
How to apply For A Virtual Commercial License in Dubai?
The foreign company owners must make an application for a virtual commercial license, to establish a virtual business in Dubai. The process for applying for a virtual company license is given below-
1. Register the Company- To start the virtual commercial license process, first you have to go to the official website of Dubai Virtual Commercial City. After this, you have to finish the online company registration. Here you will deliver personal information like name, contact information, date of birth, passport information, and all information submitted is necessary. Along with this, you must have to deliver the company trade license name and business activity.
2. Submit the Required Documents- After this, you have to present all the essential documents. These are some documents that must be uploaded online to get a virtual company license-
- Photocopy of Passport
- Evidence of address
- Evidence of tax residency
- A recent photograph of the company owner with a white background
You have to make sure that all the delivered documents are not older than 3 months and passport validity is more than 3 months.
3. Tracking the Application- After the submission, the information delivered in the application will be sent for authentication and this verification is done by the Dubai government through the background check. This virtual company license verification process takes a few weeks or months, so you have to be sure that you deliver the correct information and documents. After the verification, the lessor will obtain an email from the government that clears their approval or rejection.
4. Identity Verification- After the permission, you must visit VFS Global for identification and passport confirmation. You have to schedule a VFS Global visit in advance on their website.
5. Payment for the Virtual Commercial License- After finishing all the instructions, you have to pay the Dubai virtual company license fees. The cost of this license will be delivered through VCC’s official payment portal, ePay which is organized by the Dubai Government. The total cost for a virtual license in Dubai is according to the license validity that you selected in the online company registration procedure.
All the foreign entrepreneurs are excited to start a business in Dubai and utilize it remotely. It is all possible with the virtual company license that allows entrepreneurs to establish a company in Dubai without visiting and also permit business to operate at low cost in one of the world’s most growing and luxury cities.
