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Great question! The local service agent (LSA) agreement and local sponsor system are two key aspects of setting up a business in the UAE. The LSA agreement applies to certain types of licenses, like professional licenses or branches of foreign companies. The LSA, who must be a UAE national, is paid a fixed fee to act as a representative for administrative dealings with the government. They don’t own a part of the company or receive any commission or profits. The local sponsor system, on the other hand, applies to LLCs. A local sponsor must own 51% of the company.

Renewing your business license in Dubai involves a few key steps. Firstly, you need to ensure that your tenancy contract is valid for at least three more months from the date you apply for renewal. Then, you’ll need to complete a renewal form and gather the necessary documents, which often include attested authorization and approval letters, photographs of all business partners, as well as the payment number for renewal fees. Once all these are in order, you submit them to the DED. After your application is approved, you can pay the renewal fees and your license will be renewed.

It depends on the type of business you’re setting up. If you’re establishing a Mainland company, you’ll need a physical office space as per the regulations of the DED. However, if you’re setting up a free zone company, many free zones allow for flexi-desk options, which is a more cost-efficient alternative to a full-time office space. Alternatively, there’s the option of a virtual office. A virtual office in Dubai allows entrepreneurs to conduct business without needing physical premises.