Tag: Company formation in DMCC Dubai (page 1 of 2)

DUBAI EXPO 2020- A WINDOW OF OPPORTUNITY

DUBAI EXPO 2020- A WINDOW OF OPPORTUNITYDubai is getting set to play host to the world between 20 October 2020 and 21 April 2021. These dates mark the start and end of the Dubai Expo 2020 – an extravagant event that will serve as a confluence of ideas and expected to be attended by 25 to 30 million people from around the globe 70% of which will be innovators and investors from over 180 countries.

What is Expo?

It is a global destination for millions of people to share ideas, showcase innovation, encourage collaboration and celebrate human ingenuity. They are organised every five years and last for six months.

The first World Expo was held in 1851 at London’s Crystal Palace and was known as The Great Exhibition of the Works of Industry of All Nations. It displayed about 100,00 objects showcasing the inventions from the industrial revolution.That was called the Great Exhibition of London and showcased the innovations and inventions of the industrial revolution.

The Dubai Expo 2020 is organised by BIE (Bureau International des Expositions), a global intergovernmental organisation in charge of overseeing and regulating World Expos, since 1931.

 

The Expo 202o offers a unique opportunity for those considering company setup in Dubai. This is the first expo that will be hosted by the Middle East, North Africa and South Asia and the infrastructure added by it is predicted to add 1.5% to Dubai’s GDP over a 6 year timel

Opportunities Everywhere

Many global economic experts predict that nearly three hundred thousand new jobs will be created in Dubai by the time the Expo opens up for the world, with 90% of the jobs being created from 2018 to 2020. This simply means a massive increase business opportunities in Dubai in the following sectors:

➔ Skilled and unskilled labour – The Expo is expected to have a cascading effect on the job market, and human resource business opportunities on all sectors are expected to rise in tandem.

➔ Real estate – The massive influx of people into Dubai is expected to cause an exponential boom for the established names in the construction business. The massive demand is also expected to pave the way for many new entrants in this sector.

➔ Services – Service field businesses such as travel agents, legal advisors, and law firms such as legal consultants for company formation in Dubai as well as medical practitioners and hospitals will continue to be in demand.

There might not be a better time to start planning for business setup in Dubai than just before the Expo 2020.

 

The Boom During The Expo

Some of the businesses expected to have improved opportunities during the Expo are:

★ Printing and packaging – The Expo is expected to place an increased demand on supplementary businesses like the printing and packaging industry resulting in phenomenal growth during the Expo period.

★ Media and advertising – All kinds of advertising and media operations will see a massive boom during the Expo.

★ Hospitality – The unparalleled number of visitors will fuel a tremendous growth in the hospitality industry.

★ Travel Agency – The high number of foreign visitors will provide a massive opportunity for the travel agents of UAE.

 

The Expo 2020 is also expected to act as spur for the tourism industry. The many Small and Medium Enterprises (SMEs) in Information Technology can use this as an opportunity to popularise an idea they have or a bring in a new application that could potentially lead to its mass adoption. Artists and designers will be able to showcase their collection to a very diverse market. Freelancers like writers, software developers, gamers will be able to find new collaborations. Expo 2020 will generate at least a million jobs indirectly.

 

The Boom After The Expo

 

Long after the Expo is over it will continue to feed Dubai’s economy, several new projects commissioned during the Expo will find completion and those sectors that will continue to receive the results:

  • Human resource services – Many cutting edge companies and enterprises visiting Dubai will choose to stay back and initiate their business operations in UAE. This opens an opportunity in the Human Resource Sector to supply the required resources for these industries.
  • Construction – The large scale infrastructure projects will provide a spike in Dubai’s construction sector as well as create additional metros, roads, power plants and lead to the reclaiming of land for development.
  • Energy & Water – The demand for energy and water will increase rapidly due to the increased business opportunities.

 

With the theme of “Connecting Minds, Creating The Future” Dubai Expo 2020 pays homage to the strategic location of Dubai as the ideal connector between East and West. Dubai Expo fosters an ideal environment for entrepreneurs all around the world to collaborate and come up with new ideas to make the world a better place.

 

International companies looking to set up a business in Dubai ahead of 2020 are urged to seek assistance from a local company formation expert with relevant knowledge and experience of company formation in Dubai and its many Free Zones. Make the most of this chance and start your company in Dubai to become a part of the success story of the Expo.

 

Get in touch with  an established business setup consultant in Dubai who can help you obtain requisite permits and permissions for any venture you are interested in launching in Dubai. Most well-known agencies provide company setup in Dubai mainland as wellnes.

For more details  visit:                                                                                                                          http://www.namaccountants.com/company-formation.html                                                                                                  or                                                                                                                                 contact  : +971-558876440

 

Company Formation in Dubai Silicon Oasis

Company Formation in Dubai Silicon Oasis

Dubai has long caught attention due to its favorable conditions for entrepreneurs looking to make it big. Each of the UAE’s free zones also offers a set of distinct advantages that differ from one to the next. For company formation in Dubai Silicon Oasis Free Zone (DSOA) which, along with the headline benefits listed above, also affords business owners a host of support services and an affordable, fast and straightforward setup process. 

Business Setup in Dubai Silicon Oasis: This free zone is heart of Dubai when you want to the best markets of the Middle East, North Africa, Asia and the Indian subcontinent.

  1. Convenient set up :A major factor behind its popularity is convenient setup service. The free zone offers fast-track business licensing with the entire application process taking no more than seven days – license and lease agreements are usually issued within just two days of submitting your legal documents and payment. Licenses start from just AED 18,700.
  2. Many options for doing business and license: It describes itself as helping to ‘facilitate and promote modern technology based industries. DSOA issues service, trade and industrial licenses to companies from all Department of Economic Development (DED) listed industries, plus IT.
  3. Flexible setup and office options :While taking some form of office or desk space is a mandatory requirement, Dubai Silicon Oasis offers a broad range of setup options so you won’t feel tied down. Flexi-desk package allows entrepreneurs use of its state-of-the art business facilities on an ad-hoc basis and it can come with a maximum of three visas.

 

  1. Sufficient visa options :They allow three visas and taking office or warehouse space enables you to set up with multiple visas. The only caveat being the more visas you wish to apply for, the more space you’ll be required to take.
  2. Sponsor dependents for their visas: As well as applying for plenty of visas for your employees, it’s also very straightforward to sponsor your dependents for their visa applications as well. Whether you require a visa for a spouse, child, maid or driver, the process is four straightforward stages. Keep in mind, however, that the sponsoring process is usually slightly easier for men than women.
  3. Set up with multiple shareholders: Setting up a free zone establishment in DSOA allows you to go it alone and maintain sole control of your business. If, however, you wish to set up with a partner – or partners – you also have that option. For that, Dubai Silicon Oasis allows you to establish a free zone company with anywhere between two and five shareholders.
  4. Auditing and book keeping requirements: These requirements make it one of the most respected free zones among banks and other professional institutions. However, while auditing and bookkeeping is mandatory, that’s not to say it’s excessive. All businesses registered in the free zone must simply submit yearly books and undergo an annual audit.

There are a number of steps that need to be undertaken, some complex, some less so. The first thing to do is choose your business activity. From here you can decide on your company name, complete and file your registration paperwork with the relevant authorities, open a bank account, and apply for any visas that may be required.

For more details visit : http://www.namaccountants.com/free-zone-company-formation/dubai-free-zone/dubai-silicon-oasis.html

 

 

Company formation in Dubai

Company Formation 

Company formation is the process of legally incorporating a business as a limited company or LLP at Companies House. Upon formation, a company becomes a legal individual with its own rights, responsibilities and liabilities.The process is also referred to as ‘company incorporation’ and ‘company registration’.

When you incorporate a limited company, it becomes an individual ‘person’ in the eyes of the law. Incorporated businesses are completely separate from their owners in terms of finances, liabilities, contractual agreements, and ownership of property and assets.

 

How easy is it to register a company in Dubai?

In most cases, the Dubai Company Act requires a foreign investor to have a local partner who will own the majority interest. The only places investors may incorporate fully foreign owned companies are the Dubai free zones. The company registration requiremts will be different from case to case because of the type of company one chooses to open in Dubai. According to the Company Law, investors may set up the following types of companies in Dubai:

  • – limited liability companies,
  • – private and public joint stock companies,
  • – partnerships,
  •  branch offices,
  • – subsidiaries,
  • – free zone limited liability companies,
  • – free zone establishments.

For those seeking a simpler form of doing business in Dubai, the sole proprietorship could be an appropriate choice. Depending on the selected type of company and licensing requirements, the registration procedure with the Dubai Companies Registration Office will take several days.

 

Points to be kept in mind before incorporating a business.

  1.  Select a local sponsor, a UAE national for local business startupThere are plenty of business opportunities available in Dubai, as well as in the other Emirates of UAE. However, if you really want to start a business which must exploit the potential of Dubai then you need a locally registered LLC business.

    A UAE national must be taken as a 51% partner who is called a local ‘sponsor’. A local company provides the freedom to locate the business anywhere in the city. For a business startup in Dubai, this is a boon because it affords the best choice of locations to suit your budget.

  2. Select a Free Zone if you wish to own your business 100  Free zone Company in Dubai, UAE                Keep in mind that the only way for a business startup in UAE to start without taking a UAE national acting as your partner is to locate your business in one of the Free Zones.For a business startup, Free Zones offer three great advantages
    • 100% ownership
    • Speedy startup
    • Duty-Free customs boundary.
  3. Select a Location that optimizes suitability, convenience, and costs.  You need to set up your business in an area that is most profitable for your business or most convenient to your business. If you are planning a Free Zone company then you must make the selection based upon the criteria of distance, costs and if it is suitable for your product, business model, and trade requirements.
  4.  Confirm your Visa eligibility and requirementFor a business startup in the UAE, a visa permitting you and employees to live in UAE is essential to run your business.

    Visas are allowed for almost all businesses.

    However, their number varies according to a variety of criteria such as the size of the office, nature of the business, the category of the employee or the investor.

  5. Hire a registration agent to take you through the process of business startupHiring a business advisory firm to register your business startup may be your best option.A company registration agent will do many things for you:
    • Advise you on the right license and jurisdiction that meets your objectives
    • Prepare documents including legal documents
      – Company registration (Package)
      – Visas
      – Amendments
      – POA
      – BOD resolutions
    • Submit physically to banks, authorities
    • Monitor completion of jobs
    • Help you open a bank account
    • Facilitate and solve problems with your bank, legal issues, your jurisdiction
    • Trust and fiduciary services
    • Act on behalf of clients
      Accounting & Bookkeeping
      – Nominee
      – Bank operation in a limited way on instructions
      – Signatory
      – Manager                                                                                                                                        Simply put, a company incorporation agent will help you to maneuver through the legalities involved in starting a new business in the United Arab Emirates.                                                               visit:                                                                                                                                  http://www.namaccountants.com                                                                                                  or                                                                                                               contact us : +971-558876440

All about Dubai Silicon Oasis (DSO)

company setup in Dubai

Dubai Silicon Oasis Authority (DSOA) could be a free zone that’s 100%-owned by the govt. This free zone is formed with a purpose of supporting the business expansion of the country. As different free zones within the UAE, there’s quite a list of advantages for the businessmen who prefer to establish their business within the Dubai Silicon Oasis.

Dubai Silicon Oasis spans around 7.2 million square meters. There are referred to as pillars in Dubai Silicon Oasis that are divided supported the facilities for industrial, commercial, education, living residences, and public facilities. The world has the essential things that businessmen would wish once it comes to utility infrastructure.

Types of Company that You Can Set Up in Dubai Silicon Oasis      

The below data discusses the categories of a company that you will form within this free zone. Though the Dubai silicon Oasis company setup price isn’t mentioned, the specified capital quantity is which will offer you an idea of how much you must prepare whereas planning to build your business.

  1. Branch

The Dubai Silicon Oasis permits any company that is established within the UAE or in different elements of the planet to own their branch be registered during this free zone. The need is that the character of the activity of the branch which will be established within the area should be the same as its parent company’s nature of the activity. There’s no minimum needed capital in establishing a branch.

  1. Free Zone Establishment

In establishing a free zone institution, there’s only 1 shareholder. It is a private or a non-individual/corporate. This type of company incorporates a liability status. The minimum needed capital to determine a Free Zone Establishment is AED 100,000.

  1. Free Zone Company (FZC)

A free zone Company, on the opposite hand, includes a minimum of 2 shareholders. It is non-individual(s)/corporate. Similar to the FZE, there’s a limited liability standing for Free Zone Company. The minimum needed capital to establish an FZCO is AED 100,000.

 

Guide To Setup Your Company in Dubai

company set up in dubai

We assist you to begin your business at your finest destinations in UAE. Dubai is one in every of the developed emirates that is appropriate to begin your business. Once a year in Dubai attracts several entrepreneurs from everywhere the world. all of them are stuck on the most questions” how to set up a Business in Dubai, UAE”. Here at all Time Business Setup give you the varied types of Business Setup in Dubai with award-winning service. The most factors are that you simply will begin your own business only with the help of one of the Business Setup Consultants to induce the Business Setup Services, native support areas in UAE.

Advantages

  • Low property transaction cost
  • Setups for Free Zone & Offshore
  • Ease of access to home and corporate finance
  • No capital gains tax
  • No corporate tax

Top 10 Benefits of Starting Business In UAE Free Zones

Company Setup in Dubai

UAE free trade zones have been set up to entice worldwide organizations to this part of the world and give them a bother free condition for manufacturing, exchanging and giving services. Setting up a business is speedy and modest, and taxes are either negligible or non-existent.

The UAE has 37 free zones with nine new ones being created. Segments extend from products exchanging, wares, education, health care, information technology, and fund to business services, media, vehicles, and environment.

  1. 100% free transfer of funds
  2. 100% foreign national owner ship
  3. Liberal bank account opening and maintaining
  4. Long term leasing options available at great terms to investors
  5. Easy availability of legal, housing, immigration, labour and other facilities
  6. 100% repatriation of revenue and profits
  7. Documentation is less and more foreign investors
  8. Exemption from personal taxes as well as import and export taxes.
  9. Offers UAE residence visas
  10. Business confidentiality is strictly maintained

 

What are the things consider while setup a business in Dubai, UAE

Company Setup in Dubai

Company Formation in UAE can be a daunting process for new investors. Setting up a new business or company requires a lot of different aspects. All these vital things should be considered to keep away from any hurtful results. Because of the developing business market of Dubai, the setup of new business or company in Dubai is always encouraged however you need to follow the rules and regulations. Apart from the residents, the market of Dubai offers innumerable chances to the people of foreign countries as well to invest and set their new business or company in Dubai.

Important points that should be considered while setting up a business or company in Dubai:

  1. Consider the eligibility and Visa requirement
  2. Choose the right sponsor.
  3. Consider free zone if you want 100% ownership.
  4. Select suitable location.

         1. Select suitable location:

Choosing the most reasonable area for your business in Dubai can be a precarious task. Your business can’t develop at a proper pace if your customers and clients can’t contact you. Besides, they chose area must outcome beneficial for the idea of your business. On the off chance that you are thinking about a free zone for your organization, the choice must be founded on the thought of cost, separate and other reasonable conditions for your product.

  1. Consider free zone if you want 100% ownership

Remember that there is just a single way through which you can have 100% responsibility for business and this restricted is to have your business situated in the free zone. However, the determination of this decision will rely on upon the idea of your business. Another purpose of the thought is that the buy and purchasing in the free zone can be somewhat costly yet there are some advantages like speed in beginning up to the process, 100% ownership and client’s limits without duty fee.

  1. Choose the right sponsor

There are a few laws that should be taken when it comes to setting up a company or business in Dubai. There are a lot of chances that enables you to contribute and begin the business but still if you have to start a business, you can likewise consider having a UAE national as an accomplice. He should be a partner in your business of around 51% which is the reason he will be considered as a neighborhood support. In a few circumstances, there is a predefined expense that should be paid to the support.

  1. Consider the eligibility and Visa requirement.

For beginning up a business, you have to consider the way that you and your representatives must have the allow to live and work in Dubai. Despite the fact that the visas are accommodated each kind of business, however, the criteria may shift as indicated by the size and the idea of your business. If you are setting up a local business, the visas will be worked with the assistance of your local sponsor.

 

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

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