Company registration in UAE
Company registration in UAE
If you are faced with the question of opening a business abroad, the best option - the UAE and especially Emirates - Dubai. UAE economic policy conducive to attracting foreign investment, which give a powerful impetus to the development of the infrastructure of this state - built a large number of residential and commercial real estate, hotels, highways, shopping, entertainment and sports centers. All this increases the possibility of opening and expansion of your business, aided by legislation UAE - the absence of taxes and restrictions on import and export of capital from the country. Implementation of the World Exhibition "Expo 2020" in Dubai - a huge achievement and confidence in the UAE by the international community. The UAE has a great variety of legal forms of companies. Select the type of company it depends on your business.
In the UAE, there are three basic types of companies:
- UAE resident company with a local partner (LLC), which owns not less than 51% of the shares (restrictions on foreign capital - 49%, the opening of a local office with real employees, obtaining local licenses and requirements for the registration of the relevant work visas).
- The company registered in the free economic zone of the United Arab Emirates (entitles you to obtain a residence permit in the UAE not only for the company's founder, employees and their families. 100% foreign ownership, the possibility of owning real estate in the UAE).
- Offshore Company in UAE (but not for doing business inside the UAE and no residence permit, but are allowed to open an account at a local bank and registered office in the UAE).
Resident Company (LLC) is a general jurisdiction in the UAE, which allows it to carry out its activities throughout the country. These companies (outside Free Zones) are created only with the involvement of the citizen UAE partner company - which owns not less than 51% of the shares, or service agent not owning shares in the company, but represents its interests in Emirates. Those companies may operate throughout the country and provide professional services.
Advantages of a resident company (LLC) of the Emirates:
- Total absence of customs disputes in the export of goods
- 5% rate on the import of basic goods
- The opportunity to participate in public tenders.
At the opening of a resident company - BISA FZE will pick your local partner to make the founding documents, so that your business has been well protected. If you want to open in the UAE branch of your company, which operates out of the United Arab Emirates, you are entitled to the full 100% ownership of the branch actions, but in this case, you must enter into a contract with a service agent who will represent your company in government of UAE.
IT IS IMPORTANT TO KNOW: In Dubai, the company can have only one license (several options) and one office (the area which is defined by the owner of the company, depending on the required number of work visas for the operation of the company) and one bank account (which is open to the company license). You can open multiple accounts on this license in other banks or outside of Dubai in the UAE. If you want to register a company in Dubai, which would have more than one license, you need to have a license for each office.