Dubai manifests the meaning of limitless business opportunity. Where one lives or works will not limit innovation, creativity or ambition. The Dubai Virtual Commercial City has launched a new possibility through catering the chance to register and manage a business offsite, digitally, and completely online without the need to a UAE residency or of Dubai. Opening the gates to a future of possibilities allowing entrepreneurs to operate your business anywhere around the globe.
The Virtual Company License will avail the possibility of doing business in Dubai digitally. Furthermore, there would be no need to be a resident, and according to the highest international legal regulations and standards. Holders of those licenses will be able to manage all their business-related activities, not limited to document signing and digital submission. Moreover, the signatures are legally binding in the UAE.
The initiative is part of the 50 year charter of The Vice President and Prime Minister of the UAE and Ruler of Dubai, H.H. Sheikh Mohamed Bin Rashid Al Maktoum, executing his vision of building a virtual commercial city with unlimited opportunities for all the innovative entrepreneurs.
Who qualifies for the license?
The Virtual Company License is a Dubai International Financial Centre business setup solution and a joint initiative among Dubai Economy and Dubai International Financial Centre (DIFC), (GDRFA), Smart Dubai, and the Supreme Legislation Committee. It focuses on three main subdivisions:
- Creative industries
- Creative technology
- Creative services
-Those who qualify for the license are the verified non-residents
Verified non-residents are the only category allowed to register a company. They have to be:
- The owners of the companies
- Nationals of countries that have implemented the Convention on Mutual Administrative Assistance in Tax Matters
- Tax residents of those countries that share tax information about their citizens and residents.
-Top Nationalities that qualify:
- Saudi Arabia
- North Americas
- South Africa
- Uganda, Brazil
- Other countries on the eligible list are available on the initiative-dedicated website.
Based on the map released by the respective authority Yemen, Oman, Sri Lanka, Thailand, Venezuela, Algeria, and Egypt are some of the countries that do not qualify for the license.
– Benefiting Freelancers
The Virtual Company License avails unmatched possibilities for freelancers worldwide with an access to a regulated e-commerce platform. Moreover an easy proximity to work with Dubai-based companies. In addition to exploring new markets, possibilities, and investment channels digitally.
What activities are availed with this license?
Printing and advertising-related activities:
- Books Binding
- Typesetting Services
- Color Separation Services
- Design & Artwork Services
- Greeting Cards Production & Distribution Services
- Promotional Gifts Preparing
Programming, consultancy and relevant activities:
- Computer Systems & Communication Equipment Software Design
- Electronic Chips Programming
- Social Media Applications Development & Management
- Cyber Security Architecture
- Public Networking Services
- Cyber Risk Management Services
- Auditing, Reviewing and Testing Cyber Risks
- Managed Cyber Security Services Provider
- Marketing Services Via Social Media
Creative Ventures of Design:
- Fashion Design
- Jewelry Design
- Interior Design
- Garden Design
- Calligrapher Design
- Product Design
IBG Dubai has the most futuristic and modernly equipped team that set a new bar for excellence. With a lot of excitement and enthusiasm, regarding Expo 2020 and the new virtual initiative Dubai has steady feet on the ground and an eye on the future. IBG opens the gates wide open for future investors, and the persisting ambitious business owners. Get in touch with the best in the market for the right consultancy today. Know more and be ready, the future is here and IBG is all you need!