Podcast
Questions and Answers
What is the maximum number of shareholders allowed for a company as per the license requirements?
Which type of company is referred to as an LLC?
What is the minimum capital share required to establish a company?
How long must the Business License (BL) be valid in order to proceed with any service?
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Which system is used primarily to check company details?
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What is the cost of a standard license?
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How many working days does it take to process an IC application at the lower cost?
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What is the total cost for a license upgrade?
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Which type of visa has a processing time of 3-4 working days?
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What is the duration of validity for an IC renewal?
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Study Notes
License Details
- Maximum number of managers: 4
- Maximum number of directors: 4
- Maximum number of Activities: 5
- Maximum number of Shareholders: 50
- Maximum number of UBOs (Ultimate Beneficial Owners): 4
- A shareholder is classified as a UBO if their stake is at least 25%
- Maximum number of Visas: 20
- Minimum capital share: 1000 AED
- Business License (BL) must be valid for at least 45 days for processing
- Emirates ID (EC) must be valid for at least 15 days for processing
Customer Journey
- Departments involved in the application process:
- LQ (Pre-sales)
- Sales
- Accounts
- Compliance
- Operations 1 (Verification)
- Operations 2 (Release)
- AS: Customer service to contact client for missing documents
Systems
- ERP Front and Back End: Used to check tasks and notes
- Zoho CRM: Used to check company details
- Zoho Desk: Used to check tickets and send emails
- SMS Email: Used to send internal emails
Package Types
- Media: Includes only media activities
- Standard: Includes any activity (not limited)
Company Types
- LLC: Limited Liability Company
- Branch
Documents Included With Every License
- Business License
- Share Register
- Memorandum of Association
- Certificate of Formation
- Occupancy document
- Activity description page
Price List, Validity, and Duration
- Media License: 5750 AED, 1 year validity
- Standard License: 6875 AED, 1 year validity
- License Amendment: 2200 AED, N/A
- Visa Allocation: 1600 AED, 1 year validity
- Immigration Card (IC): 640 AED, 3 working days processing, 2 years validity
- IC Amendment: 605 AED, 5 working days processing, N/A
- IC Renewal: N/A, 2-3 working days, N/A
- EC Renewal: 1355 AED, N/A, N/A
- License Upgrade: 2200+1125 AED, N/A, N/A
- Employee Visa + EID: 3690 AED, 3-4 working days, 2 years
- Investor Visa + EID: 2530 AED, 3-4 working days, 2 years
- Flexi Desk: 375 AED, N/A, N/A
- Change of Status (COS): 700 AED
- Fast Track: 525 AED, 1-2 working days, N/A
- E-visa details reissuance: 1680 AED, N/A, N/A
- E-visa rectification: 205 AED, N/A, N/A
- E-visa resubmission: 405 AED, N/A, N/A
- Employee Residence Visa (RV) cancellation: 630 AED, 3-4 working days, N/A
- Employee Entry Visa (EV) cancellation: 630 AED, 3-4 working days, N/A
- Residence Visa Transfer (RVT): 855.75 AED, 3-4 working days, N/A
- Absconding: 5025 AED, 10-15 working days, N/A
- Re-entry Permit: 315 AED for the first 180 days and 100 AED for each succeeding month, 4 - 6 working days, N/A
- Pre-Approval: 630 AED, 10-15 working days, N/A
- Media Activity: 1000 AED, N/A, N/A
- Standard Activity: 2000 AED, N/A, N/A
- Corporate Letter: 200 AED, 1-3 working days, N/A
- SHAMS Employee List: 367.50 AED, N/A, N/A
- Attestation: 350 AED, 2-3 working days, N/A
- MOA (Memorandum of Association): Free, 1 working day, N/A
Re-Entry Permit
- Allows residents who have stayed outside the UAE for more than 6 months to re-enter the UAE.
- Can be applied for after staying outside the UAE for 6 months.
- Applicant must enter the UAE within 30 days of approval date (Entry Permit: 60 days, Re-entry Permit: 30 days).
- Applicant must provide a valid reason for staying outside the UAE and supporting documents.
- Cannot be submitted if residence visa is less than 30 days valid.
- Requirements: Valid Passport copy, valid RV, valid EID, proof or reason for staying outside.
Pre-Approval
- Due Diligence: DC/CP, Registered POC, valid BL, IC/EC validity
- Requirements:
- Pre-approval form filled by every stakeholder
- Proof of UID from all shareholders and managers
- Valid passport copy from all shareholders and managers
- Photo from all shareholders and managers
Company Formation Amendment
- Visa Allocation Amendment (Upgrade/Downgrade):
- Two types: Zero visa to visa upgrade and visa addition
- 2200 AED Amendment fees waived when upgrading VA
- Due Diligence: DC/CP, Registered POC, valid BL, PA (If required)
- Requirements: VA BR
- Company Name Amendment:
- Due Diligence: DC/CP, Registered POC, valid BL, company name availability, EC/IC
- Requirements: BR, Declaration form
- Activity Amendment:
- Due Diligence: DC/CP, Registered POC, BL validity, current activities list
- Requirements: Activity BR, additional activity documents
- Shareholder, Manager, Director Amendment:
- Due Diligence: DC/CP, Registered POC, valid BL, SH/M/D count
- Requirements: SH/MGR/DR BR, SOS, PP copy, visa and EID
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Description
This quiz covers the essential details and steps involved in the business license application process, including necessary documents, departments involved, and system utilization. Test your understanding of the requirements and procedures for establishing a business license efficiently.
