Challenges to set up a business in Dubai, UAE

company formation in duubai

Set up a business in Dubai, UAE is a challenging processing. There are many aspects of company setup in UAE including, resident visas, legal requirements and license registrations that must be addressed before you begin to start business operations like customer need and product creation.

Benefits for company formation / Business Setup in Dubai:

  • No income tax
  • Low property transaction cost
  • No property tax
  • No corporate tax
  • No wealth tax
  • No capital gains tax
  • Ease of access to home and corporate finance

The common challenges are,

  1. UAE company ownership

The LLC Company formation in Dubai, UAE Compels on a partnership with a UAE national. The investor will only be allowed to have 49% of the possession in the company, while 51% of stakes will be owned by the UAE national.

  1. Find out the business Partner and investment

The importance of setting up a business, the budget and business partner is highlighted. The first one is finding a perfect partner who would own the major stake in the company.

  1. Building an organized working flow

To build a complete organized workflow. It is not uncommon to find relatively large organizations with workflow management systems that aren’t fit for purpose

  1. Manage Revenue

Managing income is crucial; the UAE can give opportunities of widening your business, it can be similarly risky. It was accounted for by the Association of Chartered Certified Accountants that 82% of startups fail as a result of poor cash flow management. While setting up a business in UAE there are different banks financial institutes that may approach you offering a credit or possibly you could be anxious to contribute or spend more than your ability.

  1. Consideration of the Communication & Culture values

UAE, Dubai is an Islamic country; set up a business in Dubai will be different from starting it in your own country. The level of business communication is distinctive in each world; in like manner UAE takes a formal approach and certainly are constrained. Likewise, men and ladies are imparted at various levels. Emirati culture is the sole of current UAE and Islam assumes an important role in people’s daily life.

company set up in UAE

How to set up a main office in Dubai, UAE?

Company Setup in Dubai

Setup a representative office or branch company in Dubai or anywhere around UAE, the business development team will guide you through the process of business setup in Dubai.UAE Provide various benefits of setting up a company.DCCA (Dubai Creative Clusters Authority) is responsible for the registration and establishment of companies in the Free Zone Business Communities.

Documents required to set up a company in UAE

  • Passport copy of the Manager
  • Financial statements for the last two years
  • Passport copy of the local service agent
  • Company profile
  • Parent Business formation certificate duly attested from the UAE embassy in the home country of the parent organization.
  • NOC letter in favor of the Manager from the sponsor, if he is a resident of the UAE

What you need to do to setup a business in UAE

  1. Investors fill an application

The investors are required to fill an application form with the ministry of economic and commerce.

  1. Take consent from the Economic Department

The ministry of economic will sent the application form to the UAE government for consent.

  1. Take approval from UAE foreign companies committee

The economic department forwarded the application to the foreign companies committees with the ministry of economic and commerce permit letter.

  1. Take the license from the ministry of economic and commerce

After the approval of the UAE Foreign companies, the ministry of economic and commerce provide the license of the company.

Company Setup in Dubai

Company registration in Dubai, UAE

Company Formation in UAE

Company registration in Dubai, UAE requires a permission and trade license from different law agencies and the state government for setting up your business. If you’re aiming to put one up in the city then here are some legal facts and terms you need to acquaint yourself with before you get started.

Three categories of licenses issued in Dubai to register a company

  1. Commercial License
  2. Industrial License
  3. Professional License

Commercial License: This license is issued to a company that will engage in any kind of trading activity.

Industrial License: This license is for those companies that will engage in manufacturing or any industrial activity.

Professional License: This license is issued specifically for service providers, professionals, artisans, and craftsmen.

Documents Required for Professional Firms

  • Company profile
  • Passport copy of the local service agent
  • Financial statements for the last two years
  • NOC letter in favor of the Manager from the sponsor, if he is a resident of the UAE
  • Board resolution for establishing a branch and to appoint the manager for the same
  • Financial statements for the last two years

Company Setup in Dubai

Free zone Company in Dubai, UAE

Free zone Company in Dubai, UAE

UAE free zone company formation is a very risk process, which varies from one free zone to the other. A free zone is also alternatively known as a duty-free zone, tax-free zone or a free economic zone.

UAE free zone company benefits

  • 100% guarantee of repatriation of capital and profits.
  • 100% free transfer of funds
  • Easy recruitment procedures
  • The investors get 100% percent.
  • The investors get ready-made factories, warehouses, offices and licensing procedure.
  • There is no tax liability on corporate gains and any kind of personal incomes through the registered business.
  • 100% repatriation of capital and profits

The Free Trade Zones have been set up with the specific purpose of facilitating investment. The free zones vary in their focus, set up costs and paperwork needed. But the basic requirements are the same.

Which factors to consider choosing a UAE Free Zone?

  • Licenses
  • Location
  • Free Zone prestige
  • Infrastructure and facilities

company setup in dubai

AUDITORS IN UAE

Auditors in Dubai

Nam Accounts is a one of the best auditing firm in Dubai, UAE.Nam Accountants assist our clients to accomplish their goals by providing highest quality services in accounting, audit and related professional services in UAE. As an Auditors in UAE.The auditing is dividing into three types,

  1. Internal audit
  2. Statutory Audit
  3. Other Non-statutory Audit

The company management is responsible for the appointment of an external auditor. The main benefits of choosing right auditor is,

  • External audits assess its risk-management policies.
  • External audits help to deter fraud.
  • An external audit helps an organization to assess the state of its business
  • Appointing the right external auditors will ensure a thorough task of the company.

audit firm in dubai

Documents required for LLC Company formation in Dubai, UAE

LLC Company Formation in UAE
LLC means Limited Liability Company; it is a popular legal structure for setting up local business. LLC company formation in Dubai, UAE requires a minimum of 2 and a maximum of 50 shareholders in order to run the business.

Advantage of LLC company formation in Dubai, UAE

  • No taxation for LLC Company Dubai.
  • A Dubai LLC formation offers unrivaled access to the Dubai government business and the local UAE economy.
  • It is easy to open global corporate bank accounts followingLLC Company Setup in Dubai.
  • The liability of the company is limited to the company only, means if any loss arises to the firm the partners are liable to the extent of their share of capital only and their personal assets will not be attachable.
  • LLC Company investor gets an investor visa

Required Documents for LLC Company formation in Dubai, UAE

  • Manager’s Passport copy
  • Investor’s passport copy
  • Trade name reservation for LLC Company.
  • Memorandum of Association duly attested from the public notary.
  • Initial approval from Dubai Economic Department
  • Local Sponsor’s passport copy

LLC Company Formation in Dubai

How to Set Up a Company in Dubai?

Company Setup in Dubai

Setting up a new business or set up a new office in Dubai  UAE can be a complicated procedure. Your requirements are the key aspect in processing your case of Business/Company Setup in Dubai. There are many different options depending on the type of business you wish to incorporate and you may have already received conflicting advice on which setup is best for you.

Some types of company formation in UAE:

  1. Free zone Company formation
  2. Private Shareholding Company formation
  3. A general partnership company formation
  4. Joint Venture Company formation
  5. Public Shareholding Company formation
  6. Limited Liability Company (LLC) formation

The company formation is divided into two key factors, one is onshore company formation and another one is offshore company formation.

Advantages of Dubai Business setup

  • Zero taxation
  • strong economy
  • No restrictions on recruitment
  • No currency limitation
  • Low import duty
  • No currency limitation
  • Zero minimum capital requirement

Documents Required for Professional firms/company set up in UAE

  • Company profile
  • Passport copy of the Manager
  • Board resolution for establishing a branch and to appoint the manager for the same
  • Parent Business formation certificate duly attested from the UAE embassy in the home country of the parent organization.
  • Attested copy(from UAE Embassy) of organization memorandum/articles of association
  • NOC letter in favor of the Manager from the sponsor
  • Financial statements for the last two years
  • Local service agency agreement duly notarized in the UAE courts
  • Passport copy of the local service agent

Company Formation in Dubai

Offshore Company Formation in UAE

offshore company formation

Dubai Offshore company formation is one of the best methods for asset and tax savings. The Offshore company formation in Dubai, UAE ensures a special status for those companies that are formed under the jurisdiction.

Benefits of offshore company Registration

Dubai company setup can also be used for in free zone companies and for international trading activities. The Dubai offshore company formation has some benefits. Some of them are listed below,

  • Reduce risk
  • Manage risk
  • Maintain privacy
  • Protect assets
  • Reduce costs

Types of Company Registration

There are different types of registration available for offshore company formation in UAE. We can suggest the best offshore company registration suitable for your business.The types are,

  • Offshore Trust Registration
  • Offshore Company Registration
  • Offshore Partnership Registration
  • Private Foundation Registration

Reasons for Using Offshore Companies for Business

  • Reduced taxation
  • Free remittance of profits
  • Access to tax treaties
  • Foreign investment inducements
  • Government cooperation
  • Availability of offshore experts
  • Customs and duty exemptions
  • Tested legal systems

free zone company formation

Offshore Company Formation in Different way

Offshore Company Formation can be of three types,

Offshore Company Formation in Dubai:

If you want to open Offshore Company in Jafza – under Jebel Ali Free Zone Offshore Companies, allows the formation of an offshore Company by individuals or corporate bodies, as a non-resident company, having a corporate legal entity.

Offshore Company Formation in Dubai:

Offshore Company Formation in RAK, UAE:

Offshore company formation in RAK has a simple but detailed process. The Rak Offshore Company Formation allows any non-resident individual or corporate to open a in RAK as an offshore entity.

ffshore Company Formation in RAK, UAE:

Offshore Company Formation in JAFZA:

An Offshore company formation in Jafza free zone is a lot of legal complexities and documentation. If you are searching for Jafza offshore company formation in Dubai, then we as business advisors can do this job for you with full professionalism and as per your satisfaction.

Offshore Company Formation in JAFZA

Read more visit: http://www.namaccountants.com

 

 

AUDIT FIRMS: DUBAI, UAE

Audit Firms in DubaiNam Accountants help our customers fulfill their goals by giving highest quality services in audit, accounting, bookkeeping and related services. As the best auditing firm in Dubai and as a business set up specialists, we provide a solution for the Company set up, LLC Company Formation, Business setup in DMCC Dubai, company formation in UAE, company formation in free zones, branch, representative offices, offshore, free zones or mainland companies. We understand that expert way to deal with the customers’ necessities in an exceptionally responsive and with individual regard for each customer is profitable to our common achievement.

We are proud to announce that we are one of the top most in

Audit and assurance

The Auditing in the companies can be divided into three types, it depends on the owner of the business hat which sort he requires for his organization.

  • Internal Audit
  • Statutory Audit
  • Other Non-Statutory Audit

Auditors in Dubai

Internal Audit

This auditing service which gives independent assurance that an organization’s risk management, internal control processes, and governance are operating effectively.

Statutory Audit

Statutory Audit is same as any other audit. It conducted to ensure that all the financial details of the company are perfect without any scam.

Non-Statutory Audit

This includes auditing of non-corporate entities such and associations. It is a process of review and verification of a company’s business and it is not required by any law or statute.