Dubai is the best place to start a technical services company. Because it has the best intentional location across the world. The UAE is a hub that connects Asia and Europe for the trade market. Starting a company with a technical services license in Dubai is very easy but everyone is not clear about the procedure. So, for those who want to know how to get a technical services license in Dubai Mainland. Here we brought the process and a few things which are important to understand.
There are two main zones where you can obtain a technical services license in Dubai. One is the mainland and the other is the free zone. Both the zones have their own advantages and disadvantages. People always prefer Dubai, if they want to go to UAE for business establishment. Dubai has been selected because of the easy procedure of company setup. In Dubai, the company enjoys full repatriation of income and capital along with reduced tax police.
Technical Services License in Dubai Mainland
If you want to start a technical services license in Dubai local market which is the mainland. Then you require a local partner to establish such a company. The governing authority for such a company is Dubai DED (Department of Economic Development). And also note that the local sponsor’s stake in the company will be at least 51%. And you will get only a 49% share in the business as an overseas partner.
How to Get a Technical Services License in Dubai Mainland
Now that you know about the activities covered. Let’s jump in and find the best way for your company to set up a technical services license in Dubai.
Getting a technical services license is relatively simple. And when working with a company building expert, this can be achieved in certain simple steps.
To start, this is worth engaging with a company establishment expert which can guide you during the entire procedure, making sure that your application is free of errors. Instead, here’ how the steps break down:
1. Select the Location
Decide the location where you can want to set up the business. The business jurisdiction is paramount. It should be selected based on the type of business activity you have planned. So, the optimum product can be achieved. Choose Dubai mainland or free zone jurisdiction and proceed. Dubai mainland company formation and free zone company formation have benefits over others.
2. Choose a Trading Name
The federal authorities have a set of rules regarding the trading names of entities in Dubai. You have to follow this while selecting the company name. You can forward at least three options. Check if the name has been already registered by another entity. In that case, the authority would reject the application.
Remember that the authority in Dubai does not accept names that reflect political and religious leanings. The abbreviation of your name is also unacceptable. Although, you can use the complete version of your name as a business name. Please read the terms regarding the trading name before deciding the name.
3. Obtain Initial Approval
The Department of Economic Development is the authority to issues business licenses in Dubai. You can get the initial approval to start the process for issuing a technical services license in Dubai.
4. Complete the Documentation
The documentation part will comprise the preparation of MOA (Memorandum of Association), filling up of application form for a business license in a specified format, preparation of Article of Association, NOC from the current employer, and other necessary documents.
5. Issuance of Technical Service License
You require to submit the complete application with all the required documents and approvals for the issue of a technical services license. You can start operating your technical service business setup in Dubai after the receipt of the business license.
Documents Required for Technical Services License in Dubai Mainland
The necessary documents required for a technical services license in Dubai are:
- Duly filled application form in the specified format
- Copy of passport
- Passport size photograph
- Notarized Memorandum of Association
- Notarized Article of Association
- No Objection Certificate from the current employer.
Benefits of Technical Services License in Dubai Mainland
- The technical service license in Dubai is 100% tax-free. So, there is no corporate and no income tax.
- You are permitted to offer your services to all types of companies in the UAE.
- There is no minimum capital need for a mainland license
- If you receive your technical services license then you can apply for a government project as well.
- You have complete permission to work in Dubai local market.
- There is no currency restriction on technical services license in Dubai mainland.
- There are no limits to getting work visa
- You can choose your office space in any part of Dubai
- This will empower you 100% to repatriate your capital and income
If you looking for a technical services license in Dubai mainland. Then, above we mentioned the entire process that will help you in getting such a license.