Table of Contents
Frequently Asked Questions
What is the Islamic Economics Researches & Studies licence and what activity code does it use
The Islamic Economics Researches & Studies licence is a formal commercial licence issued in Dubai under Activity Code 7220.99. It falls within ISIC Division 72, covering Research and Experimental Development on Social Sciences and Humanities.
It permits structured research, analysis, and advisory work focused on Islamic economic principles, Sharia-compliant finance models, and related policy studies. Holders may also organise seminars, workshops, and training linked to Islamic economic thought.
Who is the Islamic Economics Researches & Studies licence designed for
The licence is designed for academic researchers, Islamic finance consultants, think tanks, Sharia advisory firms, and institutional research units that need a formal commercial footing to operate within the Islamic economy.
It is equally suited to corporate research departments, NGOs, and government-linked bodies that commission or produce Sharia-compliance studies and economic impact reports.
What activities are not permitted under this licence
This is not a financial services licence. It does not permit fund management, investment advice, or banking activity of any kind.
Businesses requiring those functions must seek separate authorisation from the Central Bank of the UAE. Attempting to conduct regulated financial activities under Activity Code 7220.99 would place a business outside its licensed scope.
What is the size and significance of the global Islamic economy for licence holders
The global Islamic economy is valued at over $3.6 trillion, according to the State of the Global Islamic Economy Report. Dubai sits at the centre of this market, with UAE government strategy actively embedding Islamic finance and Sharia-compliant research into national economic planning.
Banks, sovereign wealth funds, and multilateral bodies consistently require credible Islamic economic research for product development, compliance frameworks, and policy positions — creating a substantial and ongoing pipeline of demand for licensed research and advisory firms.
What are the main steps to set up an Islamic Economics Researches & Studies licence in Dubai
The process involves six core steps. First, choose your jurisdiction — mainland via the DED or a free zone such as Meydan. Second, reserve your trade name through the relevant portal. Third, prepare incorporation documents including passport copies, a business plan summary, and a No Objection Certificate if currently visa-sponsored in the UAE.
Fourth, submit your application citing Activity Code 7220.99 explicitly. Free zones typically process applications within 3–5 working days. Fifth, obtain the licence and open a corporate bank account, applying for visas as needed. Sixth, register for corporate tax with the Federal Tax Authority, which is mandatory for all UAE entities.
What is the difference between setting up on the mainland versus a free zone for this licence
Both the mainland (DED) and free zones such as Meydan offer 100% foreign ownership following the UAE's 2021 ownership amendments. The key practical differences relate to market access, cost structure, and operational flexibility.
Mainland licences provide full access to the UAE domestic market and are better suited to firms serving local government or corporate clients directly. Free zones like Meydan offer cost-efficient packages that suit solo operators and small research firms, though direct mainland trading may require a local distributor or additional approvals.
What corporate tax obligations apply to a business holding this licence
All UAE entities, including those holding the Islamic Economics Researches & Studies licence, are subject to the UAE's federal corporate tax regime. The rate is 9% on taxable income above AED 375,000; income at or below that threshold is taxed at 0%.
Registration with the Federal Tax Authority is mandatory regardless of turnover. Businesses should factor compliance costs — including accounting and filing requirements — into their setup planning from the outset.
Why is Dubai specifically advantageous for Islamic economic research and advisory businesses
Dubai's position as a regional headquarters city for multinationals, financial institutions, and sovereign entities creates a consistent demand for Sharia-compliance advisory and Islamic economic research. This demand is structural, not cyclical, and is reinforced by UAE government strategy that actively supports Islamic finance and knowledge economy operators.
Sector-specific incentives are outlined by Invest in Dubai, and World Bank data confirms the MENA region's expanding Islamic finance sector as a long-term driver of specialised research demand — a trend that shows no sign of reversing.
Islamic Economics Researches & Studies License in Dubai
Dubai sits at the centre of a global Islamic economy valued at over $3.6 trillion, and the Islamic Economics Researches & Studies licence (Activity Code 7220.99) gives researchers, consultants, and institutions a formal commercial footing to operate within it. This guide covers what the licence covers, who it suits, how to set it up, and what it costs — drawn from direct experience with the UAE's regulatory framework.
Key Stats at a Glance
| Activity Code | 7220.99 |
| Activity Name | Islamic Economics Researches & Studies |
| ISIC Category | Research and Experimental Development on Social Sciences and Humanities |
| Global Islamic Economy Value | $3.6 trillion+ (State of the Global Islamic Economy Report) |
| UAE Free Zone Options | 40+ free zones across Dubai and the UAE |
| Corporate Tax Rate | 9% on taxable income above AED 375,000 — Federal Tax Authority |
What This Licence Covers and Who It Is For
Activity Code 7220.99 falls under ISIC Division 72 — Research and Experimental Development on Social Sciences and Humanities. It permits structured research, analysis, and advisory work focused on Islamic economic principles, Sharia-compliant finance models, and related policy studies.
The licence is designed for academic researchers, Islamic finance consultants, think tanks, Sharia advisory firms, and institutional research units. It is not a financial services licence. It does not permit fund management, investment advice, or banking activity. Those functions require separate authorisation from the Central Bank of the UAE.
Permitted Business Activities
- Conducting and publishing Islamic economic research
- Providing studies and reports on Sharia-compliant economic models
- Advisory services on Islamic economics to corporates, governments, and NGOs
- Organising seminars, workshops, and training linked to Islamic economic thought
Business Activities List
Explore Over 2,500+Market Context and Commercial Opportunity in Dubai
The UAE is a designated global hub for the Islamic economy. Government strategy actively supports Islamic finance, the Halal industry, and Sharia-compliant research infrastructure. This is not incidental — it is embedded in national economic planning, and the institutional demand that follows is substantial.
Banks, sovereign wealth funds, and multilateral bodies require credible Islamic economic research to underpin product development, compliance frameworks, and policy positions. Dubai's role as a regional headquarters city creates a consistent pipeline of corporate clients needing Sharia-compliance advisory and economic impact studies.
Invest in Dubai outlines sector-specific incentives relevant to knowledge economy operators. Separately, World Bank data confirms the MENA region's expanding Islamic finance sector as a structural driver for specialised research demand — a trend that shows no sign of reversing.
Free Business Setup Cost Calculator
Calculate NowStep-by-Step Licence Setup Guide
The process is more straightforward than most financial or professional services licences. Here is how it works in practice.
- Step 1 — Choose your jurisdiction. Mainland (DED) or free zone. Meydan Free Zone suits solo operators and small research firms with cost-efficient packages and 100% foreign ownership.
- Step 2 — Reserve your trade name. Via the DED e-Services portal or your chosen free zone's portal.
- Step 3 — Prepare incorporation documents. Passport copies, a business plan summary, and a No Objection Certificate if you are currently visa-sponsored in the UAE.
- Step 4 — Submit your application. Cite Activity Code 7220.99 explicitly. Free zones typically process applications within 3–5 working days.
- Step 5 — Obtain the licence and open a corporate bank account. Apply for investor or employee visas as required once the licence is issued.
- Step 6 — Register for corporate tax. Mandatory for all UAE entities under Federal Tax Authority guidelines.
Mainland vs Free Zone: Key Differences
| Factor | Mainland (DED) | Free Zone (e.g. Meydan) |
|---|---|---|
| Foreign Ownership | 100% (post-2021 amendment) | 100% |
| Market Access | Full UAE market, government contracts | Primarily international; local via distributor |
| Office Requirement | Physical office mandatory | Flexi-desk options available |
| Setup Speed | 5–10 working days | 3–5 working days |
| Best For | Locally-focused research and government advisory | Internationally-oriented research operations |
Dubai Trade License from AED 12,500
Get Your LicenseCosts, Visas, and Ongoing Compliance
Free zone licence packages for this activity typically start from AED 12,000–18,000 per annum, inclusive of the establishment card. Mainland costs vary depending on office space commitments and DED fee structures.
Visa allocation depends on your office space tier and free zone rules. Most small research firms operate comfortably with two to six visas. If you are scaling a team, confirm the visa quota with your chosen free zone before committing to a package.
Ongoing compliance obligations are standard:
- Annual licence renewal
- Audit requirements for certain entity types and sizes
- VAT registration if annual turnover exceeds AED 375,000
- MOHRE registration if hiring staff on the UAE mainland
There is no sector-specific regulatory body governing pure research activity under code 7220.99. This is a meaningful distinction from financial advisory functions, which require oversight from the Securities and Commodities Authority or the Central Bank.
Conclusion
The Islamic Economics Researches & Studies licence is a clean, low-friction entry point into one of Dubai's most strategically supported knowledge sectors. Setup is straightforward, regulatory overhead is minimal compared to financial services licences, and the commercial demand — from banks, governments, and multilateral institutions — is real and growing.
The UAE's institutional commitment to Islamic economy leadership means this is not a niche play. It is a well-supported sector with long-term policy backing and a client base that spans the region and beyond.
Use the cost calculator to estimate your setup budget, or speak directly with a Meydan Free Zone adviser to confirm the right structure for your research operation.
References
- Federal Tax Authority (tax.gov.ae)
- Central Bank of the UAE (centralbank.ae)
- Invest in Dubai (investindubai.gov.ae)
- World Bank (worldbank.org)
- DED e-Services portal (eservices.dubaided.gov.ae)
- MOHRE registration (mohre.gov.ae)
