Tag: Company formation in Jebel Ali Free Zone

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

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

 

Benefits of Doing Business in Dubai Free Zones

Company formation in Dubai airport free zone

Free zone company formation in Dubai UAE is a complicated process. The Free Trade Zones have been set up with the specific purpose of facilitating investment.

The company set up in the free zone territories is not subject to business companies Law. Free Zones in Dubai and UAE are thought to be outside the ward of UAE and are under the rules and regulations of the concerned free zone. The organizations under the Jebel Ali Free Zone are in charge of keeping up the rules and regulations of the Jebel Ali Free Zone Authority.

Dubai offers excellent business open doors for investors from all around the globe for their Free Zone company development in Dubai. To the extent the standards and controls are concerned, Dubai gives the most liberal workplace and simple free zone company setup methods. Business Link goes about as one-stop solutions for the financial specialist accordingly decreases the hassles to investors and completes everything the quickest possible way.

Key benefits of Free Zone Company set up in UAE:

  • No personal income or capital gain taxes
  • 100% Foreign Ownership
  • No corporate tax for 50 years and can be renewable for an additional 50 years
  • 100% repatriation of capital and profits
  • Business confidentiality is strictly maintained
  • Attractive working environment
  • No restriction for doing more than one activity
  • No currency restrictions
  • Duty-free goods importing into the free zones
  • Excellent support services
  • Offers UAE residence visas
  • Liberal bank account opening and maintaining

 

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