One of the main documents which authorizes and entitles to engage in particular types of business in the UAE is license. The license of the company determines legal status of corporate entity and objects of companies.
Licenses are issued by the Department of Economics in specialized license department or in the administration of relevant free trade zone. License authorizing to perform commercial activities or other type of business shall be renewed annually.
Company license
License shall contain the following main information:
- The name of the licensing authority and the Emirate where the company is registered;
- Full name of the company;
- Validity and date of issue of the license;
- Director details;
- Other terms and conditions of the license.
Most licenses in Ras Al Khaimah do not require additional permits and approvals, and are issued within short period of time.
Any activities related to tourism, health care, transport services and other regulated areas are subject to licensing procedure with additional approvals.
Licenses are issued in free trade zones of the Emirates depending on the place of incorporation of a company. License fee may depend on legal status of the company, its line of business, price of leased office, etc.
Important to note – license regulations apply to Ras Al Khaimah onshore companies only. Offshore companies do not require any license.
