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Company formation is a commonly used term for the process of company incorporation. Other terms refer the same process are business setup, company registration.
Company formation in Dubai is a process to register a company in Dubai under United Arab Emirates (UAE) law in the department of Dubai Economic Development or Free zone (referred as free trade zone). This process requires paper work which defines the type of business or trade the company can do.
Dubai is a global hub for business and trade for a long time; it is also the most successful city in Middle East region. Forming a company in Dubai has several advantages.
The consideration for which a share in a Free Zone Establishment is issued may take the form of cash or non cash consideration. We don’t ask for bank letters to prove the minimum capital is paid up.
Registration of an offshore company is a recognized and effective tool for tax planning and assets protection. Offshore companies in the UAE stand out from other alternative jurisdictions that offer registration of offshore companies.
Registration of an offshore in the UAE gives foreign shareholders – legal entities and individuals – 100% ownership with full tax exemption. There are no requirements for minimum share capital, no restrictions on capital and profits expatriation, reliable mode of confidentiality, and a reliable and efficient banking system. Besides, the United Arab Emirates, in fact, being a tax-free country, do not fall under the category of “tax heavens” and have never been blacklisted by European countries as an offshore jurisdiction.
Apart from significant tax optimization, an onshore company in a Free Trade Zone can greatly minimize the cost of production and/or operational control of the operative business in the country. Due to the absence of corporate tax on most types of business activities and no income taxes, minimal deductions related to the payment of wages, the UAE are a very effective place to do business.
In addition to significant tax advantages, the UAE have well-developed infrastructure, cheap energy and favorable geographical position in the region. The Emirates are favored from other countries by progressive and friendly legal framework for doing business.
The uniqueness of onshore companies registered in the UAE Free Zones is that there are no taxes despite the fact that a company can have a real working office and actually be managed in the UAE.
In fact, on-shore company registered in the Free Trade Zones of the United Arab Emirates – is not offshore, but a full resident company with no taxes (except taxes on the oil industry and tourism).
Furthermore, a company that is registered in a Free Trade Zone allows its owner to get a resident visa of the UAE.
The company’s shareholders have over 15 years of joint experience in this business, including banking, financial and legal consulting in UAE.
There are more than 30 Free Trade Zones in the United Arab Emirates, where it is possible to register onshore or offshore companies for almost any type of business activity. In addition, each Free Trade Zone has its own specifics. When you choose a FTZ, it is important to understand the purpose of incorporation in order to foresee any misstep, which may subsequently lead to large financial losses. Besides, a dominant number of different issues related to the company activity (including its renewal) can be solved only by personal visit to the relevant authorities, which can be handled by our Advisors. In addition, even though you can save on professional services of a consulting company, there is a higher risk that you may probably choose not the best option for the company, its license type, permitted activities, the number of visas and different expenses. In this case, eventually, there is a higher probability that you will have to pay significantly more and to deal with some unexpected questions and challenges.
Time required for the incorporation of offshore companies in the UAE – around 2 working days.
Opening a bank account takes from one to three weeks, considering a period that a bank needs to activate internet banking system.
The time required for the opening of an onshore company varies from two to ten days. It usually depends on type and complexity of obtaining the license, and the set of documents submitted by the Customer.
One day. The rest of the steps to complete incorporation of your company will be performed by our Advisors.
No, you needn’t. Renewal of the company will be carried out by our Advisors for you.
The UAE has no income tax for individuals. As for the tax on corporate profits, it is charged only from banks and the activities related to oil industry and tourism.
Companies registered in the UAE Free Trade Zones are not subjected to corporate taxation There are no fees related to the payment of wages. In addition to the above, companies have significantly reduced paperwork with regards to invoicing, acts of completion, reporting to different institutions et cetera. No tax inspections, audits, any bribes or the risks that the company will stop working for some reason. If you properly organized your business, obtained the necessary licenses, feel free to make business!
Dubai is very diverse in all aspects of life. This diversity is affordable for people of completely different income and social statuses. This can be easily seen in a huge prices range. For example, a prestigious restaurant of the highest building in the world, Burj Khalifa, keeps very high, ”royal” price bracket. At the same time, another restaurant, with spectacular views on the musical ”dancing” fountain, can offer delicious food at very reasonable prices for you. The same principle is true for each emirate. When you arrive in the UAE, you will be able to choose from the most expensive to the cheapest market segments. But even the quality of the last ones will leave you more than satisfied.
The UAE is a multinational country and everybody speak English. It is perfect if you know English language at advanced level, you know how to write, read, and easily speak. However, even if you took only several language courses, you can come to the UAE without any hesitation. People here got used to different accents, and you will not feel that sort of inconvenience and discomfort that you usually come with communicating amongst English-speaking society, when you are always afraid that you say something wrong.
An important advantage in the UAE is that you can be served by people, who speak almost any language of the world at all basic services (shops, pharmacies, doctors, hairdressers, etc.).
The company’s shareholders, who have many years of experience in bank sector, legal and financial consulting, where confidentiality policy is an indicator of professionalism and absolutely essential part of business, incessantly have followed and continue following the regime of maintaining of absolute confidentiality of client information and embody the principle of this approach at all levels of our company.