INTRODUCTION COMPANY FORMATION IN DUBAI

Dubai has risen to be one of the top destination for business.  Today, business owners across the world have a unique attraction in opening a business in Dubai.  In this article, Nex Consultants would examine the open doors that exist in UAE and an ideal approach to utilizing them.

For the startup, Dubai is one among the few places in the world, where starting a business is an apt choice. According to the World Bank’s Survey, Dubai is ranked thirty-third of the simplest places to start up and do business, considering its rankings; we can safely say that starting a business in Dubai is going to be very attractive for start-up entrepreneurs.

While opening a business, it’s important to keep in mind that there are completely different rules and regulations, procedures, and charges involved with the different type of Business Setup Company in Dubai. It is important to know about types of company formation in Dubai prior to setting up a new business. They are likely free zone company, offshore company, Dubai Mainland Company and much more sub-entities.

Mainland Company in Dubai

Mainland Company means where your company registers outside the UAE free zones. Mainland companies are registered as local companies and it allows to engage business locally and internationally without any restrictions.  UAE LLC company, Establishments, Civil Companies, Professional firms come under mainland companies.   The time frame of your company set up will also depend on a great deal on finding the right local partner to become your business sponsor or local service agent. There are also different documents and licenses connected to establishing your office in the mainland so it will all depend on how diligent you are in completing those requirements.  Depending upon the business activity following below license can be register

Commercial License/LLC Company in Dubai – LLC Company in Dubai is to be issued to a company that will operate in any kind of trading activity and commercial activities.

Professional License in Dubai – Professional firm to be issued to service providers, professionals, doctors, artists, lawyers and craftsmen.  For setting up the company the owner must be qualified in relation to his/her the proposed business. For example, if you are setting up an engineering consultancy, in this case, you must have bachelor qualification in engineering.

Branch / Representative office in Dubai –  Branch and representative office allow 100% to the parent company. Branch or representative office allows the parent company to penetrate Dubai or UAE market in same brand name and same or related activity. Industrial License – Industrial license to be issued to a company that will engage in manufacturing or any industrial activity.

Benefits of setting up of Mainland Company in  Dubai – UAE

Able to carry out business in UAE and internationally

No currency restrictions in Dubai Mainland Company

Easy processing of employment visas in Mainland Company in UAE

You are free to choose office locations anywhere in UAE

Mainland company registration will provide 100% repatriation of capital and profits

Hassle free legal procedures to get the license and registration in Dubai

Free Zone Company

Business setup in UAE free zones it’s necessary to know FREEZONE company formation. Freezone company formation UAE are the business that 100 percent owned by the person who set it up. You don’t need a sponsor or an agent to act as liaison to manage the venture. There’s no restriction tying you down.

Business setup in UAE free zones it’s necessary to know FREEZONE company formation. Freezone company formation UAE are the business that 100 percent owned by the person who set it up. You don’t need a sponsor or an agent to act as liaison to manage the venture. There’s no restriction tying you down.

 Benefits of Free Zone Company in Dubai – UAE

100 % ownership for expatriates

Easy visas process and procedures

Tax exceptions for free zone companies

UAE Free zone company allows 100% repatriation of funds

Setting up a free zone companies are eligible to open multi – currency bank account in Dubai/UAE

Company formation in UAE free zone allows getting resident visas in UAE

UAE Freezone company allows local trading by paying 5% duty (through a distributor)

Free zone company is eligible for obtaining UAE Tax residency certificate

Offshore Company in Dubai – UAE

Offshore company formation in UAE allows 100% ownership and tax exemption for the shareholders. Confidentiality on shareholding structure, holding of assets and property on behalf of the company in UAE and abroad the UAE, the opening of multicurrency Dubai offshore bank accounts making hike demand the UAE offshore company registration.  Besides the traditional advantages of total tax /duty exemption, offshore companies established under the UAE regulations enjoy added benefits from U A E’s reputation for commercial transparency and it is strategic regional location.

Offshore company registered agents in UAE are acting as the authorized intermediaries for offshore company set up IN Dubai – UAE.   In UAE there are three offshore jurisdictions available for offshore company set up they are Jebel Ali offshore company or JAFZA offshore company or usually named as Dubai offshore company, RAKICC offshore company or RAK offshore company and Ajman offshore company.

Benefits of Setting up Of Offshore Company in UAE

100 percent ownership for UAE offshore company

Multi-currency bank account can be open in Dubai/UAE

100 percent confidentiality

0% Tax for UAE offshore companies

Less recurring charges

Can be liquidated anytime

UAE offshore are eligible to international business

Offshore companies can hold shares in UAE companies and abroad companies

Offshore company can hold properties in UAE and abroad

In UAE offshore companies can be register in three jurisdictions as follows;

 RAKICC Offshore Company (RAK Offshore Company):  RAKICC offshore company is registered under the Ras Al Khaimah International Corporate Centre. 100 % ownership and no physical presence are required for setting up of RAK offshore company. 100% tax benefits and the opening of a multicurrency bank account is the main attractive feature of RAKICC Offshore company.  Ras A Khaimah offshore company formation is combatively cheaper and incorporation is faster. RAKICC offshore company is exempted from all corporate and income tax (including VAT).

Ajman Offshore Company: Ajman offshore company is under the regulations of Ajman Free Zone Authority. Just like any other offshore jurisdictions, it offers a Zero Taxation System and the company’s confidentiality/privacy & security are kept intact (The legal address of the offshore company is the address of the registered agent).

JAFZA Offshore Company: The JAFZA Offshore company is commonly named as Dubai offshore company since it’s just because of the location of the registration authority. The licensing authority of Dubai offshore company is Jebel Ali Free Zone Authority. Dubai offshore company cannot conduct any commercial activity with persons or companies within the UAE. An offshore company may lead business exercises outside the UAE. A JAFZA Offshore company can also act as a holding company by way of acquiring shares in UAE mainland companies and other free zone companies, holding properties in Dubai and abroad as well as, subject to the applicable bank’s policy, open a bank account, pledge its shares, and secure loans and other financial facilities.

Nex Business setup consultants in Dubai providing company incorporation, market entry strategy, and accounting, consultancy services, and RAK offshore business Setup assistance in UAE. Nex spectrum of services covers all aspects of doing business in the UAE. While based in Dubai, we offer comprehensive services for company formation, accounting and advisory services across the region.