The UAE market is growing, and so is your business setup in Dubai. Mainland license generally requires a sponsor, but you can make the business your own, without a sponsor.
Benefits of Converting Your License Without a Sponsor
Your business, your share, and your profits – all go to you. And we can easily convert your existing mainland license without the need for a sponsor. Know the benefits of such a conversion.
More control over your business: When you have a sponsor, they have a certain amount of control over your business. This can be limiting, especially if you want to make changes to your business plan or operations. By converting your license without a sponsor, you will have complete control over your business.
No need to rely on a sponsor: If your sponsor is unable to fulfill their obligations, it can hurt your business. By converting your license without a sponsor, you will not have to worry about this.
Increased credibility: Having a mainland license without a sponsor shows that your business is credible and successful. This can give you an advantage when bidding on contracts or attracting new customers.
Requirements for Converting Your License Without a Sponsor
To convert your license without a sponsor, you require local market knowledge, which can be brought to your business with the help of business setup consultants in Dubai. With their help, you can easily get the following requirements:
Minimum share capital of AED 500,000: This is the amount of money that you must invest in your business to qualify for a mainland license without a sponsor.
Local presence: You must have a physical presence in the UAE, such as an office or a representative.
UAE-based bank account: You must have a bank account in the UAE that is in your name or the name of your business.
Approval from the Department of Economic Development (DED): You must obtain approval from the DED before you can convert your license without a sponsor.
Process for Converting Your License Without a Sponsor
The process for converting your license without a sponsor is as follows:
Submit an application to the DED: You can submit your application online or in person at a DED office.
Provide the required documents: You must provide the DED with some documents, including your passport, visa, trade license, and proof of financial solvency.
Pay the relevant fees: There are some fees associated with converting a license without a sponsor. These fees vary depending on the type of business you are running.
Wait for approval: The DED will review your application and approve or deny it within a few weeks.
Obtain a new license: If your application is approved, you will be issued a new license without a sponsor.
We help you convert your mainland business license without a sponsor
A&A Associate will help you seamlessly throughout the process and provide you with:
Notarised Amendment to Memorandum of Association.
Notarised Share Transfer Agreement
How will we help you?
Get the initial Approval from DED.
Assistance in Notarization of Share Transfer Agreement & Amendment to MOA.
A license will be issued in 3 to 5 working days.
Fee payable to DED & expenses towards notarization shall be additional.
Convert Existing Mainland License Without Sponsor – AED 3,000
Physical presence is required.
Initial Approval from DED
Assistance in Notarization of Share transfer Agreement & Amendment to MOA
License will be issued in 3 to 5 working days.
Fee payable to DED & expenses towards notarization shall be additional