Tag: Company formation in Dubai

Documents required for Company Formation DWC Dubai

The DWC free zone also includes Al Maktum International Airport, which once completed will have the capability to handle 12 million tons of annual cargo capacity and 160 million passengers. This makes DWC free zone an extraordinary multimodal project that supports a number of activities in aviation, logistics, commercial, residential, exhibition, humanitarian and leisure-related businesses.

company formation in dubai

DWC free zone company formation is the demand of most of entrepreneur. DWC free zone is a strategic enterprise of the Government of Dubai that is set to be biggest and a leading global trade, aviation and business hub. DWC free zone is an extension of Dubai’s legacy as a connection point between the East and the West. It is recognized as one of the most ambitious and unique projects of its kind in the world and it cover the 140-square kilometre area next to Jebel Ali Sea Port.

 

Registering a business in DWC has numerous benefits for companies such as 100% foreign ownership, tax emption along with being a part of history as Dubai World Central aims to become a global logistics hub. Nam Accountants has streamlined the processes for our clients setting up in DWC and deliver timely managed solutions.

 

The Business Centre, which is right at the entrance of DWC, gives businesses the opportunity to establish in a large hub. The infrastructure has been designed with a view to facilitate business operations.

 

Business Incentives:

No Capital requirement

100% Foreign ownership

100% Tax Free environment

No corporate tax

 

Documents required for Company Formation in DWC Dubai

To establish a DWC free zone company, the following documents must be submitted to the DWD free zone authority:

 

* A completed form – registration & licensing application (Dubai world central)

 

* Clear and valid passport copies (preferably in color) of any individual listed as a shareholder, director, general manager and company secretary in the application form.

 

* A certified copy (true copy) of the certificate of incorporation, valid certificate of good standing or valid trade license if it is a corporate shareholder.

 

* If the person handling the application and signing the declaration at the end of the registration & licensing application form is not named as a shareholder, director, general manager or company secretary in the application, then a notarized power of attorney or signed board resolution (if the shareholder is a corporate entity) will be required from each shareholder, confirming that the person handling the application is properly authorized to act on behalf of the shareholders.

 

* 2 copies of the memorandum of association and the articles of association of the DWC free zone company, bearing the name of the company to be incorporated and signed by all shareholders, noting their names, addresses and respective shareholding.

 

* Last but not the least, the applicable fee.

 

For more information on registering a DWC company please contact our specialist business advisers at info@namaccountants.com & + 97150 9683237 who will provide complete assistance.

 

 

LLC Company Formation Dubai

LLC Company Formation in Dubai

Along with low taxes and a thriving business environment, Dubai’s straightforward company formation process is a major reason why so many international entrepreneurs flock to do business here.

The business license application process is both fast and affordable and there are many great benefits to doing business in this part of the world. As well as a favourable tax environment – on both personal and corporate incomes – the UAE also boasts a strategic global location and a thriving community of business savvy entrepreneurs.

If this sounds appealing, there are a few things you need to know before you start your business here. For one, you need to be aware of the different company types that can be formed in Dubai. The most common, and the one that we’ll cover here in detail, is the LLC.

 

In short, an LLC is a company that benefits from an entirely separate legal identity to its owners. It is an independent entity established in the UAE mainland that can be owned by one or more shareholders. There are many benefits to forming a mainland LLC including direct access to the UAE marketplace and low start-up and running costs.

 

If this sounds appealing, below is everything you need to know about   LLC company formation in Dubai.

 

LLC company formation: a wealth of opportunity

 

One of the biggest benefits of forming an LLC in Dubai is that you can establish your business anywhere across the mainland. While you are required to lease official business premises when forming an LLC, it is entirely up to you where you do this. Perhaps your business needs a prestigious address? Or maybe a warehouse near the airport would be more suitable? The choice is yours.

 

With an LLC mainland set up, you’re also completely free to trade directly with the local UAE market. Mainland LLCs are also able to carry out government work, which is a rather lucrative business here in the UAE.

 

LLC company formation cost

 

Contrary to popular belief setting up an LLC in Dubai is not usually any more expensive than establishing a business in a free zone.

 

There are several costs involved – fees for the license itself along with setup fees. There is also a fee payable to secure a local sponsor. In all, you should expect the cost of forming an LLC in Dubai to be in the region of AED 50,000. There is then a fee payable every year to renew your business license.

 

A simple, straightforward setup

 

Setting up an LLC in Dubai is not just affordable, the process is incredibly straightforward too.

 

To get started, you simply need to register with Dubai’s Department of Economic Development (DED). This is an incredibly simple process that usually only takes around an hour and a half. As with all applications in the UAE, it’s advisable to work with a company formation expert during this process to ensure everything is completed and filed correctly.

 

You have the choice of forming your LLC alone or with a business partner or partners. An LLC can be established with up to 50 shareholders which can be companies or individuals.

 

Flexible company formation

 

Another major benefit of forming an LLC is greater flexibility.

 

When forming an LLC in Dubai you are free to choose from any of the 2,000-plus business activities as set out by the DED. These include everything from potato trading to business consultancy. It is even possible to combine multiple activities under a single business license.

 

LLCs are also incredibly flexible when it comes to expanding. As you are free to set up anywhere in the mainland, you are also free to move and expand as your business does. You have the option of applying for more and more visas as your business grows too.

 

There is no maximum cap on visas, but generally speaking, it is possible to apply for one employee visa per 100 sq.ft. of space. There is some leniency to this rule if you are operating a business with many remote workers.

 

The process for sponsoring dependants for their visas is just as straightforward. As the owner of a UAE LLC, you’ll also qualify for an investor visa. This allows you to sponsor the visa applications of your spouse, any dependant children or family members and any domestic staff. Again, as with applying for your business license, it is a good idea to work with a company formation expert at this stage to ensure your application runs smoothly.

 

LLC company formation in Dubai

 

Once you’re familiar with the formalities and the benefits of establishing an LLC, the next step is to understand what’s involved in setting one up. There are several key steps to this process.

 

Step one: Choosing an activity

The first thing to do when setting up a business in Dubai is to decide on the business activity or activities you wish to undertake. While there are thousands to choose from, it is vital that you pick the ones that best suit your business. Carrying out activities not listed on your license can lead to regulatory difficulties and even fines. A company formation expert with a knowledge of UAE license types and activities can work with you at this stage to advise on the best ones to suit your needs.

 

Step two: Choosing a name

A difficult task anywhere in the world but here in the UAE, it comes with a few extra complications. Some of the UAE’s business naming conventions are simple common sense (no offensive or blasphemous language) while others may take a little working around. For example, if you wish to name your business after yourself, you can only do so if you include both your first and last name. You must also avoid reference to known organisations (such as ‘CIA’ or ‘church’). Finally, and most importantly, you must check that your chosen name is available to be registered.

 

Step three: Finding a sponsor

Previously when setting up in the mainland, foreign entrepreneurs would have to work with a local sponsor who would hold a 51 percent stake in the company. However, this is no longer the case. Foreign ownership of mainland companies is now permitted in most sectors. There are, however, some exceptions. These include banking and finance, water and electricity provision, telecoms, pilgrimage services, printing and publishing, and medical retail.

 

Step four: Applying for your license

With most of the vital admin out of the way, you are free to apply for your business license. To make your application you will need to provide the DED with a number of documents including your passport and visa copies and shareholder information. The whole process takes around three weeks. With your license in hand, you can apply for visas for you, your employees and your dependants.

 

That’s all there is to it. A simple yet hugely important four-step process. Working with a company formation expert here can help you to avoid any delays in your application and ensure your UAE LLC is up and running in no time.

Nam Associates Group is a cross-border advisory firm focusing on providing financial consultancy and advisory services . We  can assist you in registering and securing ongoing compliance by advising you on the changes as per the DIFC regime and helping you with the incorporation of a company as per new law. For further information, you can visit http://www.namaccountants.com/

or

email at Info@namaccountants.com

 

 

These UAE residents can get long-term visa

These UAE residents can get long-term visa

The decision aims to maintain the position of the UAE as a country having optimal business environment.

 The UAE Cabinet on Saturday approved the recently announced long-term visa system, which includes 10-year residency visa for investors and specialists and five-year visa for exceptional students.

The decision of the Cabinet will facilitate visas for investors, entrepreneurs, specialized talents, researchers – including their spouses and children – and create an encouraging environment for the growth of business for investors, entrepreneurs and professional talents.

The decision includes the terms and conditions for obtaining long-term visas for all the above-mentioned categories as well as outstanding students to attract talents in all vital sectors of the national economy. The visa benefits for the family ensures a cohesive social structure that will create a stimulating environment for stability and growth. Here are the categories and specifications”

These UAE residents can get long-term visa

1. INVESTORS (10-year visa)

Two categories of investors benefit from this, and the decision includes provisions to grant them the visas.

Investors in a property of a value of Dh 5 million or more will be granted a residence for five years, while investors in public investments through a deposit, an established company, business partnership of Dh10 million or more, or a total investment of not less than Dh10 million in all areas mentioned as long as non-real estate investments [ not less than 60 per cent of the total investment[ will be granted a renewable residency visa every 10 years.

The Cabinet decision outlines the following conditions for both categories:

>The amount invested shall be wholly owned by the investor and not loaned, and should be proven by supporting documents

>Investment retention for at least three years

>A standard financial liability with a financial solvency not exceeding Dh10 million

> The long-term visa could also be extended to include business partners, provided that each partner contributes Dh10 million, the spouse and the children, as well as one executive director and one advisor.

However, the decision allows investors to enter the country for a six-month period, multiple entry, to apply for the long-term visa requirements.

2. OUTSTANDING STUDENTS

The decision also includes provisions for granting a 5-year visa to outstanding students with a grade of at least 95 per cent in public secondary schools in public and private schools, and a distinction of at least 3.75 GPA upon graduation from universities within and outside the country. Benefits include families of the outstanding students.

3. ENTREPRENEURS

Entrepreneurs will be granted a 5-year visa with a possibility for upgrading to an investor’s visa provided they meet the requirements. The decision also includes the terms to grant long-term visa to two categories of entrepreneurs; having a previous project with a minimum of Dh500,000, or having the approval of an accredited business incubator in the country.

The benefits of the entrepreneurial visa include entrepreneurs, partners, three executive directors, spouse and children. The entrepreneur is allowed entry into the country for six months, multi-entry visa period, with renewal for another six months.

4 SPECIALISED TALENTS (10-year visa)

The decision also includes provisions for granting a 10-year visa for specialised talents and researchers in the fields of science and knowledge for doctors, specialists, scientists, inventors. As well as creative individuals in the field of culture and art. The visa’s advantages include the spouse and the children.

All categories are required to have a valid employment contract in a specialised in fields of priority for the UAE, and the conditions for each category are defined as follows:

>Scientists:

– To be accredited by the Emirates Scientists Council

– Holders of the Mohammed Bin Rashid Medal for Scientific Excellence.

>Creative individuals in culture and art

– Accredited by the Ministry of Culture and Knowledge Development

>Inventors

– Obtain a patent of value added to UAE’s economy with the approval of the Ministry of Economy

>Exceptional Talents:

– Those who have exceptional talents that are documented by patents or scientific research published in world-class journals

>Executives:

– Owners of leading, well-known and internationally recognised companies

– Holders of high academic achievement, professional experience, and position (Example, an engineer in a rare specialty with a university degree and working in a private company in the UAE). The inclusion of this category aims at maintaining current competencies and attract new competencies

Criterion for doctors and specialists

Requires at least 2 of the conditions mentioned below:

1. Holder of a PhD degree from one of the top 500 universities in the world

2. Holder of an award or certificates of appreciation for the work in the applicant’s jurisdiction

3. Contribution to a major scientific research related to the work of the applicant

4. Published articles or scientific books in distinguished publications in the field of work of the applicant

5. Membership in an organisation related to the work of the applicant, which requires excellent work to accept membership

6. A PhD degree in addition to 10-year professional experience in the applicant’s field of work.

7. Specialisation in areas of priority to the UAE (additional requirement for the doctor)

Strategic Business Plan

A determined entrepreneur must have a concrete business plan. With it, an entrepreneur knows the potential challenges in the business and providing effective business solutions. And, whenever you struggle in running your business, there is an overall direction and plan in place to follow or refer back.For startups, it is always helpful to have a company formation expert with relevant experience in strategic business planning working alongside you. They can help start your business on a positive note by recommending the most appropriate jurisdiction.

So read on. And, know the benefits of getting a formation agency with the knowledge in effective strategic plans.

 We can suggest you the best offshore registration suitable for your business and can also help you through all the legal complications that can occur in the offshore registration process.

A strategic business plan is essential for offshore company startups. Know the benefits getting a company formation agent with strategic planning skills.

Why Consult a Company Formation Agent for a Strategic Business Plan

Strategic planning can be an effective process in putting a new company abroad. Before registering a business offshore, make sure you also have better business solutions to help you in managing your company.

Always bear in mind that besides foreign companies, it is also important to consider local businesses. So, by tapping on a reliable formation specialist, you can come up with an effective business strategy. This will enable your business to outshine your competitors once you start business activities.

Now, how can you find an agent to help you create an effective strategic plan for your offshore business? Well, this guide will help you choose the right expert for your business needs.

Choosing a Company Formation Agent for Startup Business Plan Solutions

A reliable formation agency is not the only expert in registering a company. They also have the skills to provide effective business solutions, especially for offshore business startups.

Here are the top three qualities of a formation specialist that startups should look out:

Professional Knowledge and Expertise

This is the best quality of a company formation expert. They are fully aware of the local laws of the land. They know the trend and business condition of a particular jurisdiction. So, that makes them a perfect candidate to become a consultant for strategic business plan solutions.

Facilitation Skills

Since they have the knowledge and expertise in the laws and governing policies, they can easily guide you the different process of setting up a company abroad. Thus, a formation expert can immediately identify an issue and provides quick solutions.

Experience

Company formation agents have gone through the same experience as yours. Their actual experiences and interaction with the locals have honed them to become a specialist in helping entrepreneurs set up a new company. What’s more, they can easily help you find the right individuals for your corporate needs.

Get Offshoring Right With A Trusted Formation Agency

Clearly, starting a new business abroad is not all about earning more profits outside your location. It is also about providing the right product and/or service of a certain jurisdiction.

It may sound cliché. But, it would be ideal to have a strategic plan first before putting up an offshore company. So, tap on to the most trusted formation agency today.