A professional company in Dubai operates by provisioning intellectual services to the public. The partners of a professional company hold qualifications and practice professions inclined towards giving the solution required as claimed by the professional company.
Examples can include a law firm, a medical clinic, accountancy firm, architecture firm, consultancy services firms amongst the others.
A shareholder of a professional company in Dubai has to have specific qualifications to participate in the professional company’s services.
Dubai and other emirates of UAE have an explicit guide on conducting professional companies, considering the sensitivity of the service. There are specific exams to designate professional company ownership. Also, the government keeps a keen observation on the assets, websites, advertisement marketing tools, and other public-facing offerings of such professional companies.
Features of a Professional company in Dubai
- Expatriate shareholders can own 100% shares of professional company
- A UAE national is required as a service agent in the professional company
- UAE national does not supposedly hold any share in the company
- As a service agent, the UAE national receives fixed annual charges
- There is no requirement for minimum share capital
- For proof of qualification and position; a degree, experience, and relevant certificates are mandatory for shareholders of a professional company in Dubai
- A civil company is formed with more than one shareholder in professional companies
- It is mandatory to rent an office and obtain Ejari
- Professional companies can also serve as limited liability legal structure by adding a UAE national as a 51% shareholder. Here, the company will be designated as LLC and the expatriate investor can hold a maximum of 49% of shares only.
Professional Trading License
Professional service providers operate through certified trade licenses in Dubai. These professional licenses are issued to service providers and artisans. The Department of Economic Development (DED) handles all activities in concern with acquiring a professional license in Dubai.
Cost of Acquiring Professional Company License
Cost of the professional license in Dubai is approximately AED 10,310 which includes:
- Fees for Professional license
- Service agent charges
- Trade name charges
- Market charges (based on the tenancy amount)
- Charges for Administrative service
- Charges involved in Government cultural
- Charges for Local taxes, etc.
Documents Required: Professional License in Dubai
- Details submitted in DED’s application form to obtain the professional trading license
- Passport copy of owners or partners
- The naturalization book copy of local partners’ (Jinsiya)
- No-Objection Certificate from sponsors for foreign investors if the expat is already on an employment visa
- UID number of a shareholder is required if on a visit visa
- A copy of transit/visit visa of foreign partners
- Initial approval from the relevant authorities, based on the type of activity to be undertaken (e.g., the Municipality, RTA, National Media Council, etc.)
Why Business Setup Worldwide?
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