For any business that is based on providing a service rather than trading a specific product, then it is likely they will need a professional License, issued from the Department of Economic Development (DED)
In setting up a professional firm, 100% foreign ownership and sole proprietorship are permitted. In order to set up a professional company set up in Dubai, the local service agent is required, especially when it comes to obtaining the documents such as licenses, immigration visas and the labour cards.
What is a Professional License?
This type of License is given to individual entrepreneurs who provide professional license activities i.e. services of any kind. These can be business service providers designers, artists, etc. However, the enterprise needs to be owned by a single person to obtain a professional license in Dubai. If the ownership rests with more than one person then the organization will be considered a civil corporation.
Features of a Professional Company Setup in Dubai
You will get 100% Ownership
A UAE National will be appointed while remaining absent from your business activities
An annual amount has to be given to the agent or a turnover of the profits
A professional company can only engage in non-commercial activities
Need Help Setting Up?
The entire process of setting up of your professional company in Dubai can be managed by Exsolution:
- Approvals and Permissions
- Partnership Agreements and the MOA
- Trustworthy Local Service Agent
- Assistance in opening bank accounts
- Suitable Office Premises