COMPANY INCORPORATION IN DUBAI
Any new company that wants to be incorporated in Dubai has to follow the rules & regulations and tedious procedure before they can register their company. It is a difficult process, hence one has to ensure every process is followed in the right and appropriate manner.
Before an individual decides to start a business in Dubai they must do thorough research on every aspect about the business activity they choose to undertake. An individual must ensure that they comply with all the business licensing requirements in Dubai.
One has to get a trade license which is mandatory before starting any business activity in Dubai. The government authority which is responsible for issuing these local Dubai company licenses is called the Economic Development Department which is based in different locations across Dubai.
The different types of trade licenses issued in Dubai are as follows
- Commercial Licenses which are issued to companies that are engaged in trading activities.
- Industrial Licenses which are issued to companies that are involved in manufacturing.
- Professional Licenses are issued to companies which work as service providers, and individuals such as professionals, artisans, and craftsmen.
DIFFERENT TYPES OF COMPANY INCORPORATION IN DUBAI
- Limited liability companies
- Private and public joint stock companies
- Partnership firms
- Branch offices
- Free zone limited liability companies
- Free zone establishments
LIMITED LIABILITY COMPANY(LLC)
A Limited Liability Company is a company where the liability of the shareholders is limited to their capital. The maximum number of shareholders in an LLC in Dubai is capped at 50 with a minimum requirement of at least 2. Except for insurance, banking, or monetary investment, an LLC company can conduct any business activity in Dubai.
An onshore company is a business arrangement which is formed and managed within the jurisdiction of the company. The multiple advantages of creating an onshore company are
- Favorable tax regulation policies for companies operating outside of the jurisdiction
- Access to a broad network of tax treaties/developed business/banking and supporting sectors, etc.
The registration of the onshore company in U.A.E. is extremely important and beneficial to a business owner. Usually business owners conduct their business by operating out of their native place, but with an onshore company, a business owner can easily have a working office to manage this efficiently.
An Offshore Company is a legal business entity that is created and managed outside the jurisdiction of the company.
BENEFITS OF SETTING UP A COMPANY IN DUBAI FREE ZONE
- 100% exemption from taxes on personal or corporate income.
- Complete ownership for an investor regardless of his or her nationality and domicile.
- 100% repatriation of capital and profits.
- Total exclusion from all applicable import and export duties.
- Total exemption from all corporate taxes for 15 years, with an option to renew for a further 15 years, with no requirement of deposit of capital.
DOCUMENTS NEEDED TO REGISTER A COMPANY IN DUBAI
- The articles of association of the company must contain information about the shareholders, directors and business activities of the company.
- Translated and notarized copies of the passports of the shareholders and the directors of the company have to be provided for the registration process.
- Duly completed forms which are issued by the Trade Registrar.
- The registration process in Dubai can be complex, hence it is advisable that an individual seek the assistance of an expert company registration company such as ACE ALLIANCE to help you proceed with your registration.
Our team of tax and legal experts at ACE ALLIANCE will answer all your questions and queries about Company Incorporation in the Dubai. Our team will help you with the entire process of filing till the registration process is completed. Our team will also help you any formalities or compliances that need to be addressed after the registration process of incorporating a company in Dubai.