To renew a trade licence the following documentation is required:

1. A signed copy of the terms and conditions
2. A signed price list
3. A signed application form
4. A signed office lease agreement (if applicable)
5. The Shareholder’s updated documents (passport and visa copies)

To apply for a visa renewal the following documentation is required:

1. The signed visa application form
2. A passport copy (holding 7 months’ validity with 3 empty pages) with UAE residence visa
3. The original medical fitness test report showing negative results for the tested diseases
4. A copy of the Emirates ID card renewal registration form
5. A copy of the valid company licence
6. A copy of the valid Establishment / Immigration card
7. A signed employment contract
8. A copy of a University degree (if applicable, attested, and translated)
9. Passport photographs (white backgrounds, passport sized, and high resolution)

The licence renewal process will take 2-7 working days to renewed.

A new visa application will require 2-6 weeks whilst a visa renewal will require only 5-15 working days to complete. It should be noted that these timeframes are approximations only and may be expedited. Visa issuance can be delayed or rejected due to Government security approvals.

A dependant’s visa will require approximately 1-3 weeks to process.

It should be noted that this timeframe is an approximation and may be expedited. Visa issuance can be delayed or rejected due to Government security approvals.

To change your company name you must first come up with a new suggested company name and we will seek approval from the licensing authority/jurisdiction. Upon availability of the name and the approval an advert must be placed in a local newspaper notifying this change (a legal notice of company name change). We also require signed amendment forms and all of the original company documents must be returned.

To sell your company you will need the Immigration pre-approval of the new owner(s), to return all original company documents and have a signed sale of shares forms between the buyer and seller.

It should be noted that other requirements may be applicable subject to jurisdiction of incorporation or application. Requirements are subject to change from time to time with or without prior notice. Please speak to a member of the Relationship Management Department to find out more.

Once your establishment card is issued you will need to contact your Visa Consultant. They will guide you through the process and collect the necessary documents.

As of right now it is not possible to transfer your company to a different free zone. However you can set up a branch of your existing company in a different free zone.

In order to open a UAE bank account you will need to provide the following documents:

• The original corporate documents that you have received from Virtuzone
• CV of Shareholders and Directors
• A business summary
• Additional documents may also be requested

Opening a UAE bank account is free of charge if you do it on your own. However, each bank has its own requirements when it comes to maintaining a minimum monthly balance. We can also help you set up your bank account. To learn more about our Bank Account Opening services

Yes, but only if you are not structured correctly. At Virtuzone we offer comprehensive advice on company structuring and can implement a few mechanisms to ensure you always remain in control of your business.

If your local partner is a natural person, then an heir will inherit the 51% share in your business. It is then up to that person if he or she wishes to continue in the same manner as nominee shareholder or if they wish to negotiate new terms or be more involved in the business. At Virtuzone we offer a corporate nominee shareholder solution that can protect you in the event of the passing of a local partner.

Virtuzone offers a market leading 30-day notice period without penalty if you wish for us to transfer the shares to a new partner while under our sponsorship. However, if you have a natural person as your local partner it is your responsibility to negotiate exit terms at the time of exit.