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Dubai: Abu Dhabi’s virtual business license allows investors or entrepreneurs from outside the UAE to apply for a UAE business license from anywhere in the world.
The virtual driver’s license will be officially launched by the Abu Dhabi Department of Economic Development (ADDED) for non-resident foreigners in 2021, and the entire application process will be completed online through Abu Dhabi’s official government service platform “Tamm”.
What is Abu Dhabi Virtual Business License?
According to ADDED, the virtual license covers 13 economic sectors. In these industries, if you file to become an LLC (limited liability company) or sole proprietorship, you also have the option of owning 100% of a business.
These are the economic sectors available for virtual licenses:
1. Agriculture
2. Manufacturing
3. Repair
4. Contracting
5. Maintenance and Installation
6. Retail
7. Transportation
8. Service
9. Leasing service
10. Healthy recreational activities
11. Management and provision of supporting services
12. Wholesale trade and
13. Import and export.
Each of these economic sectors encompasses a number of business activities such as ‘tax advisory services’, ‘web design’, ‘television production’ and ‘event management’.
According to “Tamm”, entrepreneurs can add up to six business activities on one license. However, before you can start applying for a license, you need to set up a “UAE Pass” account. UAE Pass is the national digital identity for UAE citizens, residents and tourists. Creating a visitor account on the app is a simple process. If you are a Gulf Cooperation Council (GCC) citizen or resident, you can use your national identity card or your passport details to complete the process.For a step-by-step guide on how to complete your UAE Pass account setup as a UAE tourist, use this link.
How to Apply for Abu Dhabi Virtual Business License
After setting up your UAE Pass account, you can visit the “Tamm” platform – www.tamm.abudhabi and follow the steps below:
1. Under the Government Entity Services tab, select Department of Economic Development.
2. In the “Economy” category, select the service – Request for Issuing Economic License (Virtual License)
You will then be guided through a step-by-step process to set up your business license. Processes, documents and costs may vary slightly depending on the type of business activity you choose.
However, according to “Tamm,” there are some basic steps that all applicants should follow, regardless of their business activities. all these are:
1. Select the legal type of business – sole proprietorship or limited liability company (LLC):
sole proprietorship Refers to a business license that allows one person to own 100% of a business. Since it is a business license, it allows individuals to collaborate with other businesses as well as individuals.
limited liability company (LLC) Is a company formed by contract between 2 and 50 people. The LLC license is issued by the emirate’s economic department and it has no restrictions on where to trade in the UAE (unlike a free zone company).
2. Find your business activity:
You can find a list of business activities for foreigners through the “Tamm” portal: https://www.tamm.abudhabi/services/business/ded/search-and-view-activities?lang=en
“Business activity” is a general term referring to any activity carried on by a business.
2. Registered business name:
Next, you must reserve a trade name for your business. If you have a name and want to know if it is already used by another company, you can access this link from “Tamm”: https://www.tamm.abudhabi/services/business/ded/tradename-search/home? lang=en searches for existing product names. It is important to remember that Abu Dhabi businesses have ADDED authorized trade names and are required to follow certain guidelines.
5 criteria for choosing a business name in the UAE:
According to u.ae, the official website of the UAE government, a business name must meet the following criteria to be approved by the UAE economic sector:
1. Follow the business structure acronym (legal form of the company) eg: LLC, EST, PJSC, PrJSC.
2. Does not violate public morals or national public order.
3. Eligible activity type and legal status of the company or business entity.
4. Do not contain the name of any religious or governing body, nor the name or logo of any external body.
5. Not registered before.
3. Enter the contact information:
You must then enter their personal details including their full name, mobile number, email address and nationality.
4. Mandatory documents:
Regardless of the business activity you choose, each applicant must submit two main documents:
• Copy of valid passport
• A recent passport size photo.
After submitting your license application, you will receive a transaction number from “Tamm” to check the status of your application. You will be able to track the progress of your application by visiting this link: https://www.tamm.abudhabi/services/business/ded/application-status/landing
ADDED will review the application and approve or deny the permit application.If the application is approved, you have to pay the fee online and you will receive the official virtual license through the “Tamm” website – www.tamm.abudhabi
If you want a detailed step-by-step guide on how to start a business in the UAE, click here.
Fees for Abu Dhabi Virtual Business License
According to the Tamm website, the cost of “issuing a virtual license” is Dh790. However, you need to factor in the additional cost of the federal service charge, bringing the total up to around Dh1,000. However, it is important to note that the final cost may vary slightly depending on the number of business activities you add on your license (you will need to pay Dh100 for each additional activity) and the “legal type” you choose.
effectiveness
The license is valid for one year.
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