Dubai boasts a dynamic and inclusive economy, enabling businesses to operate on a global scale. The inaugural Virtual Company License, introduced by the Deputy Ruler of Dubai, Sheikh Maktoum Bin Mohammed Bin Rashid Al Maktoum, is a pioneering initiative resulting from the collective collaboration of Dubai Economy, Dubai International Financial Centers (DIFC), General Directorate of Residency and Foreigners Affairs (GDRFA), Smart Dubai, and the Supreme Legislation Committee.
Catering specifically to three pivotal sectors (creative industries, technology, and services), The Virtual Company License presents a distinctive avenue for foreign entrepreneurs to establish a business in the UAE without the requirement of physical residency.
Virtual Corporations in Dubai are exclusively registered for individuals residing outside the Emirates, as the owners of such corporations must be citizens or tax residents of specific nations.
An innovative regulation known as the "Virtual Company License" or "Virtual Commercial License" allows foreign business owners to establish a digital presence in Dubai without the requirement of physical relocation. Consequently, holders of Virtual Company Licenses can efficiently handle all business-related tasks digitally, including document signing and submission, with the assurance that these digitally signed documents are recognized as valid in the UAE.
The virtual company license in Dubai is accessible to citizens of approximately 120 nations with which the UAE has Double Taxation Avoidance Agreements (DTAA). Moreover, the UAE aims to incorporate 100,000 businesses into the virtual city through this initiative.
Establishing a virtual office in Dubai offers a myriad of advantages for businesses. The following are key highlights:
Overall, a virtual office can be a great option for businesses of all sizes, especially those that are looking for a cost-effective and flexible way to operate.
Applicants from 101 countries are permitted to apply for a Virtual Company License in Dubai. The eligible countries comprise:
Non-eligible countries include:
Prior to applying for a virtual company license in Dubai, it is essential to delineate the business activities you intend to undertake. It is crucial to note that these activities will be executed remotely. Therefore, the selection of a business activity should align with your skillset, capabilities, and financial resources.
There exists a specific roster of business activities authorized under a virtual company license, categorized into three main groups. The following is the list of business activities sanctioned under a virtual company license in Dubai:
To Establish A Virtual Business In Dubai, Business owner must apply for the Virtual Company License. The application process for the Dubai Virtual Company License is outlined below:
Embark on the journey of opening a business in Dubai by partnering with Smart Zones® UAE. Our adept company formation specialists will guide you through the business license application and setup process, liaising with relevant government and municipal authorities on your behalf.
Initiate the registration process for the virtual company by visiting the official website of Dubai Virtual Commercial City. Complete the online company registration form, providing details such as your name, contact information, date of birth, passport details, and any previous experience with Dubai. Additionally, enter the trade license name and define the intended business activity.
Upload the required documents for the Virtual Company License, including a passport copy (with more than 3 months until expiry), proof of address (utility bill or official letter not exceeding 3 months old), proof of tax residency (for non-approved countries), and a recent photo on a white background (not exceeding 3 months old).
Upon submission, the information undergoes authentication through a background check by Dubai Government authorities. This verification process typically takes a month, so accuracy in the submitted information is crucial. Receive an email notification of either approval or rejection after the screening process.
Following approval, visit VFS Global in person for identification and passport verification. Pre-book the visit through their website or by sending an email to bookappt.vccdubai@vfsglobal.com. A service charge of EUR 75 (AED 300) + applicable taxes in the selected country must be paid for this step.
After successful identification validation at VSF Global, pay the Dubai Virtual Company License cost through ePay, the official payment gateway provided by Dubai Government's Smart Dubai. The fee is calculated based on the selected license validity in the online company registration form.
Remember that the process may vary depending on your chosen jurisdiction and business activities. Consulting legal and business experts familiar with Dubai's business setup landscape is highly recommended.
Looking for a seamless business setup experience? Trust Smart Zones® Dubai to pave the way.
To be eligible for a virtual company license in Dubai, entrepreneurs must fulfill specific prerequisites:
Submitting incorrect documents can lead to immediate rejection. Our consultants at Smart Zones® UAE ensure you have the right documents, avoiding any complications in the process.
Documentation necessary for a virtual company license in Dubai includes:
Submitting incorrect documents can lead to immediate rejection. Our consultants at Smart Zones® UAE ensure you have the right documents, avoiding any complications in the process.
The expenses associated with acquiring a virtual company license in Dubai varies based on various factors, including the nature of the business activity and the duration of the license additional You can contact Smart Zones® UAE for a more accurate estimate. Below is a detailed breakdown of the costs involved in obtaining a virtual company license:
The Virtual Company License in Dubai is a pioneering initiative that enables foreign entrepreneurs to establish businesses in the UAE without physical residency requirements. Introduced by Sheikh Maktoum Bin Mohammed Bin Rashid Al Maktoum, it caters to creative industries, technology, and services.
The Virtual Company License allows foreign business owners to establish a digital presence in Dubai without physical relocation. Holders can handle all business tasks digitally, benefiting from recognition of digitally signed documents as valid in the UAE. The license is exclusively for individuals residing outside the Emirates.
Establishing a virtual office in Dubai offers cost-effectiveness, flexibility, a professional image, and access to resources. It provides a more affordable and flexible option for businesses, allowing them to work from anywhere and maintain a professional image without a physical office.
Applicants from 101 countries, including the USA, UK, Canada, India, and Saudi Arabia, are eligible for a Virtual Company License in Dubai. Non-eligible countries include Afghanistan, Egypt, Iran, and Thailand.
Business activities permissible under a Virtual Company License in Dubai include services like design and artwork, computer programming and consultancy, and creative design such as interior and fashion design.
The application involves partnering with Smart Zones® UAE, registering the company online, uploading required documents, tracking application status, confirming identification at VFS Global, and paying the license cost through the official payment gateway.
To be eligible, applicants must not be UAE residents, be foreign citizens from approved countries, engage in predefined sectors, abide by home country regulations, and be subject to 5% VAT if annual revenue exceeds $100,000.
Required documents include a passport copy, a utility bill or official letter as proof of residency, tax residency certificate, phone number, and a recent passport-size photograph against a white background.
The cost involves trade name registration (approximately AED 700), virtual company license (approximately AED 1800 per year), and identification/passport validation (approximately AED 300). Costs may vary based on business activity and license duration.
Want to know more, talk to Smart Zones® Dubai advisory team they will be happy to help. Ready to invest in your future?