Tag: Company formation in DWC Dubai

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

 

 

Reasons To Start Your Own Business In The UAE

 Reasons To Start Your Own Business In The UAE

 

Why Choose Dubai As An Investment Location?

The Dubai economy enjoys a competitive combination of cost, market and environmental advantages that create an ideal and attractive investment climate for local and expatriate businesses alike. In fact, these advantages not only rank Dubai as the Arabian Gulf’s leading multi-purpose business center and regional hub city, but they place it at the forefront of the globe’s, dynamic and emerging market economies.
Dubai, with its ancient commercial and seafaring traditions, has long been recognized as the Middle East region’s leading trading hub and has emerged as its key re-export center. In more recent years, the Emirate has become a major venue for a number of growing, profitable industries and activities .

 

Political And Economic Stability: Dubai is part of the UAE which is a low-crime and politically-stable country. Also, the UAE enjoys financial and monetary stability. Its well-developed, sophisticated banking system features ,extensive credit facilities and ample liquidity. The Emirate’s emerging capital markets are built on a basis of leading-edge technologies and sound regulatory systems. The government has a long, consistent commitment to pro-business, liberal economic policies including the protection of intellectual property rights. The UAE benefits from stable and harmonious industrial relations. Finally, there is a well defined, sound legal framework for business and a clear set of ownership rules. Foreigners are permitted ownership rights of up to 49% for limited liability companies established within the Emirate of Dubai and up to 100% for professional companies, branches and representative offices of foreign companies and free zones enterprises. All of these factors reflect positively in Dubai’s being assigned an investment grade rating for fixed income investment by Moody’s Investors Service.

 

Large, available workforce

One of the biggest struggles when starting up any new enterprise is finding the right people to work with. Dubai wins again. Its liberal and cost-effective labour laws, along with its desirable working location, make it both easy and – perhaps most importantly – rather affordable, to recruit employees from almost anywhere in the world. The ease at which expatriate workers – who make up a staggering 90% of the city’s labour force – can enter and exit the UAE also makes it easier for businesses .

Ease of starting your own business

New markets, new consumers, the rise of Internet technology – Dubai is a land of booming opportunities.

A recent survey by HSBC revealed that Dubai is ranked second-best city in the world after Singapore for expats looking to start a business. The survey highlights that the UAE’s entrepreneurial environment, job prospects and better salaries as primary factors attracting expats from across the world.

“Despite the volatility in the global economy and insecurity in job markets, the UAE’s diverse business landscape and its position as a hub in the Middle East means that it continues to be an attractive destination for expats from across the world,” .

No Taxation. 

The UAE’s economy in general is considered to be the most liberal and most diversified in the region. Dubai applies NO TAXATION policy for almost all types of business activities with exception of branches of international banks, hotels and major oil and gas companies. The following taxes are NOT applied in Dubai:

  • Personal income tax;
  • Capital gains tax;
  • Value-added tax;
  • Withholding tax;
  • Corporate tax.

Dubai Free Zones.

 Free Zone is a designated tax-free area, where foreigners can set up and do business in Dubai with full ownership and without partnering with a local emirati partner or agent. All Free Zones vary from one to another and offer licenses in various sectors. For example, there is a Free Zone for healthcare providers (Dubai Healthcare City or DHCC); there is a Free Zone for educational and training institutions (Dubai Knowledge Village); there is a Free Zone for media companies (Dubai Media City), there is a Free Zone for financial institutions and services providers (Dubai International Financial Center or DIFC) and many others. There are more than 20 Free Zones currently operating in Dubai itself.

Residency Visa.  

If you have a company in Dubai and in other Emirates of the UAE in general, you will be eligible to get a UAE Residency Visa for yourself, your family members and for your expatriate employees. Having a UAE Residency Visa will give many benefits such as:

  • you can open a current account in UAE Banks
  • you can lease an apartment for long-term basis
  • you can enter/exit to/from UAE multiple times
  • you can get visas for other countries  more easily as a resident in the UAE.

 

Logistics and Infrastructure

Dubai enjoys the position of a significant player in international trading and transport logistics. It has the advantage of its inherent strategic location on the globe. Dubai is in the middle of far east and Europe and situated at the crossroad of international trade between east and west. Due to its geographical location, Dubai is considered to be the gateway to the world’s most progressive markets, including Africa, India and china.

 

  • Air

Dubai offers immense facilities in air transportation and air cargo. Dubai has two airports Dubai international airport and Dubai World Central (Al Maktoum International Airport). Dubai international airport is one of the busiest international airports in the world. It has world’s largest cargo hub known as cargo village, most of the cargos for Asia & Africa are using this cargo village. Dubai world central is operational but it is still in developing phase. DWC is located in Dubai south district which is also future home for expo 2020 site. Once completed and start operation in full capacity it will become world’s largest airport and multi-model logistic hub with the capacity of 160 million passengers and 12 million tons of cargo per year. DWC is an integrated project of six clustered zones Dubai logistic city, commercial city, residential city, aviation city and the golf city. Dubai logistics city is one of the largest industrial submarkets under construction. According to the latest research from cluttons, international real estate consultancy it has already attracted a number of high-profile players including integrated national logistics, emirates, sky cargo, Aramex etc. DWC has one more speciality. It has world’s only 7- star airport terminal for private aviation.

  • Sea

Dubai’s Jebel Ali port is the largest port in the middle east, it is likely to become the biggest container port in the world. The government of Dubai and DP world are working on the expansion plan of Jebel Ali port. According to the official statement, the current plan will multiply the total capacity of Jebel Ali port by seven, making it world’s biggest port, surpassing the ports of shanghai and Singapore. India and china are using it as a logistical hub for their African ventures. Due to its strategic location port is providing market access over 2 billion people across six continents. It is a gateway for over 90 shipping services connecting 140 ports in the world. The strategic geographical location and facilities made it the busiest port in the middle east, according to a research report revealed by arabiansupplychain.com based on statics of 2015. Port Jebel Ali is linked to Dubai’s express-way system and to the Dubai international airport cargo village. The rapid transportation facilities available in Dubai made it possible to achieve ship-air and air-ship connectivity in four hours. Dubai has two more ports Port Rashid and Al hamriya.

  • Land 

Dubai has one of the best road infrastructures in the world. According to world economic forum’s travel and tourism report (2013), the UAE has been rated second best in the quality of roads. Dubai is known for wide roads with disciplined traffic and centralised monitoring system by high-tech cameras and radar. The Dubai metro is world’s largest automated driverless train system, with more than 70 Km of magnetic tracks. The government is working on an extension of the metro route and connecting metro to expo 2020 site. Soon Dubai will enjoy connectivity with 1200 km long Etihad railway network. This network will connect all major population, trade and industrial zones across UAE. This will fulfil freight & passenger needs. Dubai will be connected with GCC rail network also. GCC railway is 2,117 km long rail network this will connect all six countries of gulf corporation counsel. Transportation of goods will become easy for UAE, Saudi Arab, Kuwait, Qatar, Bahrain, Oman. The Dubai government is developing 500 Km road network and 120 multilevel interchanges by investing $ 12 billion. The development work is expected to complete before expo 2020.

Local culture and heritage
Although Arabic is official language; English is the most widely spoken language in business rooms.  The company is hospitable and is ranked safe place to work.
You get a chance to enjoy the delectable local cuisine and Arabic culture in forms of art, music and architecture.

Before we conclude, we‘ll do a bonus section on major UAE cities which you can eye for a business setup.

  • Dubai: It is the most cosmopolitan city in all of UAE, tourists from all over the world visit Dubai for its shopping experience.
  • Abu Dhabi: Home to the richest, it is also the most planned and organized business center in UAE,
  • Sharjah: Sharjah airport international freezone is a premier freezone which attracts foreign investors.
  • Jebel Ali: It is a freezone on the western side of Dubai. Readymade facilities like business parks, office spaces are available for the customers.
  • Fujairah: The Fujairah freezone is an upcoming one and is attracting shipping and transport companies from all over the world.

So, are you excited to start up your own venture in the UAE?  If yes, then prep up your business idea and get in touch with international business consultant in UAE ,Namaccountants -who have guided thousands of business owners for successful business setup in this region.

With Namaccountant team’s international business men and local Middle Eastern exposure, you can rest assured that your business setup is taken care of.

Have more questions on how to go about?

Write to us at  Info@namaccountants.com

 

 

 

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

 

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

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