- 1 What are the business activity UAE that allow foreign ownership?
- 2 A foreigner can own full ownership of a commercial company in the UAE
- 3 Business Activity UAE Types
- 4 How to find your Business Activity in the UAE
- 5 Trade License Activity List in the UAE
- 6 Benefits of Obtaining a Trade License in UAE
The Business Activity UAE has been recently modified by The UAE government for its new commercial companies and paved the manner to increase foreign ownership for expatriates in specific business sectors. The economic sections in the United Arab Emirates have assigned more than 1,000 business activities for commercial and industrial sectors to foreigners. Here is what you need to know about business activity UAE types and where you can find them.
What are the business activity UAE that allow foreign ownership?
There are thousands of business activities that allow foreigners to have full ownership of their companies, and help foreigners easily set up such companies. Local economic sections in Dubai and Abu Dhabi have made a list of activities that help you contract down the perfect type of business you can set up. Apart from the limited activities listed within the UAE commercial companies law and its executive resolves.
A foreigner can own full ownership of a commercial company in the UAE
Earlier, foreign investors were limited to owning 49 percent shares at maximum in a Limited Liability Company (LLC) working as an inshore UAE business. Based on the commercial companies Law in 2015. The UAE government modified the law by issuing Federal Law in 2020 for commercial companies and canceling the requirement for some commercial companies to have a major Emirate share owner or agent, according to the UAE official information portal.
Some companies are excluded from those regulations that have government ownership or work in the strategic sector, such as oil expedition, drilling, or water desalination. Including, companies that conduct business activities as checked by the executive regulations of the law.
You can read: UAE work visa
Business Activity UAE Types
There are four types of trade licenses in the UAE to apply for, depending on your business activity. Those investors in purchasing or buying goods will need a commercial license. A company that wants to contract manufacturing activities in the UAE will need an industrial license and require a professional license to provide services. Also, there are business activities that require Tourism License. Trade license must include all the activities you wish to undertake clearly when applying under the main company license.
Read more: UAE visa for engineers
How to find your Business Activity in the UAE
Project owners can apply for commercial licenses and commercial activities online, and they can also visit government departments, while Dubai Economy and Tourism (DET) has released a list of more than 1,000 business activities that allow one hundred foreign ownership percent. Including general trade, jewelry, luxury watch trading, and contracting.
Here are the industries in which you can operate full foreign ownership business in Dubai:
- Mining and Quarrying
- Accommodation and food service activities
- Trading and services
- Transport, storage, and communication
- Social and personal services
- Real Estate Renting
- Extra-Territorial Org and Bodies
- Health and Social Work
- Electricity, Gas, and Water
- Financial Intermediation
Also, there are more than 3,000 commercial and industrial activities for persons and foreign companies have been registered according to the Abu Dhabi Department of Economic Development (ADDED). The Abu Dhabi Business Center (ADBC) also allows entrepreneurs to find activities through its website.
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Trade License Activity List in the UAE
According to the Dubai Economic Department (DED), Dubai trade license activities list, industrial, commercial, and professional activities are as follows:
|Contracting and Building Works
|Aircraft and Train Spare Parts
|Amusement Tools and Supplies
|Packaging Materials and Paper
|Beauty Baby Care Requisites
|Auto Spare Parts Trading
|Building Materials Trading
|Cinema and Theaters
|Consumer Stores Group
|Domestic Gas Distribution
|Exchange and Financial Services
|Fuel and Petroleum Products
|Medical Eye Test Glasses
|Mechanical and Engineering
|Electronic Equipment Rental
|Pets Nursery and Trading
|Ships and Boats Trading
|Vehicles And Motorcycles
|Block and Building Stones
|Appliances and Machinery
|Carpet and Mats Manufacturing
|Casting of Iron and Steel
|Cotton and Metal Nets
|Coating, Insulation, and Seals
|Fish Canning and Freezing
|Fodder and Fertilizers
|Glass and Chinaware
|Lenses Cutting, Glass Repairing
|Goldsmith and Gold Repairing
|Manufacture of Batteries
|Tobacco and Cigarettes
|Pipes and Wires
|Steel Tool Manufacturing
|Real estate Business
|Oil Business Activity
|Tires and Rubber Products
|Business Aviation Association
|Car Registration and Transfer
|Combing and Upholstery
|Petrol and Water Consultancy
|Information and Marketing
|Documents Destroy and Store
|Facilities Management Group
|Government Liaison office
|Hospitals and Recovery Houses
|Institutes and Education
|Ladies and Kids Salons
|Printing and Publishing Services
|Sewage and Cleaning Services
|Typing and Translation
|Social Work Activities
|Special Purpose Firm
|Separate Professional Activities
Benefits of Obtaining a Trade License in UAE
There are a set of advantages to getting a Trade business license as the UAE requires:
- Zero tax program with no personal or corporate tax for doing any business. A business person who is holding a trade license in the UAE does not pay taxes on income or profits.
- Recruitment is free of trouble and limitless availability of employment visas with no restrictions on applying from the Ministry of Labor. The investment or employment visa holder can also sponsor parents, spouses, maids, and children.
- Fewer limitations on a minimum capital requirement. It is not required to show a bank guarantee compulsory or deposit the share capital in the bank. Also, it is allowed the repatriation of whole capital for Emirates UAE companies.
- The easy establishment process to set up a company in UAE is a direct process, where procedures can be done in 3-4 working days if the entire documents are in place and prepared.
- Perfect Infrastructural Facilities provide spaces with flexible rent plans, an ideal place, and suit environment for businessmen to do their business in the best way possible.
Which business activity is booming in UAE?
New Company Formation (LLC) becomes easy with business Services in the UAE Mainland Free Zones and Offshore PRO Services. UAE Free Zone company, an established online platform for Global Resources, is designed for entrepreneurs.
What is the business environment in the UAE?
The UAE presents a favorable business environment. Unified First class infrastructural facilities with professional expertise and business services give the UAE priority over other countries. The UAE is ranked 16th globally, according to the World Bank Report of Doing Business 2020.
What are the 4 types of business activities?
The basic operating business activities are sales, administration, marketing, and customer service. These business activities have a part of the normal operation that affects income and profits monthly, quarterly, and annual. As well as, Investing and Financing Business Activities.
What are General Trading License Activities?
A General Trade License provides business trade activities of importing, exporting, and re-exporting products in the UAE such as:
• Food products.
• Stationery and school supplies.
• Electronics and tech supplies.
Business Activity UAE provides an efficient and fast business setup for foreign investors to start up and conduct businesses in the UAE. While UAE nationals and experts are dedicated to providing the best customer support service experience, to help you run your business, from Opening Bank Account, Digital Marketing services, and PRO services.