What is a Virtual Business License?
The Virtual Company License allows foreign investors to open a digital business in Dubai, without being a resident of the UAE. The virtual company owners will be able to manage all of the operations and document processing digitally. The E-signatures will be legally binding in the UAE and the highest international legal standards will have to be maintained.
What are the benefits of Virtual trading license?
This virtual business license is an opportunity for investors to access Dubai’s growing market while saving resources that would be otherwise needed to set up onshore operations. The license aims to enhance investor confidence as well as the economic competitiveness of the UAE. The initiative is also designed to enable the business activities of entrepreneurs residing in eligible foreign jurisdictions. The jurisdiction’s eligibility is determined by its ability to share tax information in order to tackle global tax evasion and money laundering.
- Low start-up & running costs, contact us to get a quote
- Low administrative burden when starting your company
- Access to Dubai’s customers, markets, and investment opportunities from across the globe
- Membership in a virtual companies directory
- Provides freelancers with access to Dubai’s companies
Why operate in Dubai?
The UAE ranks in the top 5 out of 63 counties in IMD business school’s World Competitiveness Rankings. In 2019, the UAE ranks 1st globally in terms of business efficiency as a result of high productivity, digitization, and SME-friendly initiatives.
What are the Terms and Conditions of the Virtual License?
- You must reside outside of the UAE
- Virtual companies are subject to corporate, personal, and social tax
Taxation is determined by the company’s country of origin or residence. The virtual company is also subject to international tax agreements based on the location of activities.
The virtual company must provide a full public registry of the owners’ names, this information will be shared with tax authorities and legal jurisdictions as per request.
- The license does not guarantee physical access to the UAE
There is no guarantee that visit or residence visas will be provided to any members of the virtual company. Contact us to receive future updates regarding Virtual Business Owner Visas or alternative solutions.
- Bank account opening will be at the discretion of the UAE’s commercial banks
- The virtual license requires background checks by Dubai authorities
- The legal form of the business will be of a sole proprietorship
The company will not be subject to the local ownership, director, auditor or service provider requirements
- If the company’s yearly revenue exceeds USD 100,000, then tax registration will be necessary
The value-added tax (VAT) is 5% in the UAE, however, there is no income taxation on non-financial entities.
- The licensing process includes measures against money laundering and tax evasion.