company formation in Dubai free zones
Dubai has multiplied the reputation of a primary trading hub in UAE, because location of Dubai in the world is one of the important aspects of the charm of the Dubai. It offers to Global businessmen the most liberal operating conditions, tax exemptions, asset protection, complete privacy, and limited liability, in an offshore company formation in Dubai. The tax haven also offers wonderful promise to overseas businesses, as it has: Outstanding development route through which imports have doubled since 1990 and matchless strategies of liberalization. Wealthy marketplace located in one of the world’s ironic states that is spread and offers wide opportunities to traders and finance. No trade barriers, quotas, exchange controls (open market). High availability through air or water (around 90 airlines and 170 shipping lines)
Company Formation in Dubai might be a respectable idea if you have a finished plan and market analysis. You can do Dubai company formation in two types of authorities which is “Dubai mainland Company” or in any company formation in Dubai free zone. Both authorities offer different privileges subject on the nature of the corporate and its related actions. If you select Dubai mainland company formation, then you will need to record the company with Department of Economic Development, who will issue you a license for your new company formation Dubai. We are providing assistance for all kinds of company formation in Dubai.
Company Formation Procedure in Dubai
Company Formation in Dubai – Select a Business Activity
The first step for company formation in Dubai is to select a related class of business activity. There are almost two thousand business activities are available for company Formation in Dubai, which comes under different classification.
Company Formation in Dubai – Select a Legal Form for Your Business
The second step for LLC company formation in Dubai is to choose the legal form of your company as there are various legal forms of company setup in Dubai and it is always based on the business activity which you are going to choose for Dubai company setup. When you select a legal form of your company Formation in Dubai, you should always consider the activity, type of business and ownership options where we can assist you to choose this all.
Company Formation in Dubai – Select a Company/Trade Name
This is very important stage of company Formation in Dubai, where you need to choose the name of the company. At the time of choosing a company name you should follow company name guidelines
Company Formation in Dubai – Initial Approval Certificate
Now you are to start company setup in Dubai and you need initial approval. An Initial Approval is a No Objection from Government to start business in Dubai. Sole Establishment, Limited Liability Company, Civil Company in Dubai and Partnership Company can file the application by online. This Approval carrying legal type and business activities of the license and the validity of this approval is six months and it is not renewable for company Formation in Dubai
Company Formation in Dubai – Draft MOA and Local Service Agent Agreement, If Required
In the process of company Formation in Dubai, you have to prepare a Memorandum of Association or the local service agreement (LSA) depending on the legal entity partners. Local Service Agent agreements need to be executed with UAE Local National in case of Partnership Company.
Following Legal forms have to be drafted as Memorandum of Association (MOA)
- Limited Liability Company
- Simple Limited Partnership
- Private Shareholding Company
- Partnership Company
- Civil Company
- Public Shareholding Company
If you are going to setup a branch of an existing company, it will require MOA. But it is not required for Sole Establishment. Dubai company formation as a Branch of a Free zone Company, where UAE nationals own less than 51% of the company, or branch of a Foreign Company and or a civil company that has no UAE national requires Local Service Agent Agreement.
Company incorporation in Dubai – Establish Your Business Location
In order to business setup in Dubai all companies must have an address. The location should be approved by Dubai Municipality. If the partner of the company Formation in Dubai is a UAE National and have license for the location, then you can just add new business in the same address.
Company Formation in Dubai – Get License for Specific Business Activity
During the company Formation in Dubai, Some commercial activities need special supports from different gov’t departments. For example, a Hospital requires special approval from DHA (Dubai Health Authority).
Company Formation in Dubai – Get Business License
Now your company Formation process is almost done if all the above procedures have completed, you will get a business license within 1 – 7 days depending on the business activity and all other approvals.
Cost of Company Formation in Dubai
One of the most important steps in making a realistic business plan recognizes the initial costs of Company Formation Dubai. Tax free nature of Dubai is stunning to many tycoons, but it is very essential to save in attention the charges intricate in give out a new license in Dubai. The DED’s website offers a valuable tool which authorizes potential business owners to estimate the fees involved in business setup in Dubai.
If you are scheduling for company formation in Dubai free zones, you need keep in mind that each free zone has different Company setup procedures and fees. Number of free zones also requires that the investors have a least amount of capital if they are doing business setup or establishing the company or enterprise in the free zone as opposite to just opening a branch of an existing company. Another cost of starting a business in Dubai or company formation in a free zone where free zone is sponsoring your employees and providing them with the visas and paperwork to allow them to stay in the country.
Company formation in Dubai such as trading companies should also consider the future costs of importing goods to the country.