Business Setup Services in the UAE
Who We Are
Business Setup Worldwide is a professional company providing business set up services in the heart of UAE, Dubai. We offer a broad range of services to help foreign investors and international companies establish their presence in the region. We understand the local market, technical expertise, requirement and knowledge to start your business cost effectively and in appropriate time. From determining the right kind of company, trade license to hiring personnel for your free zone, offshore or LLC, ensuring efficient utilization of your resources, assets, time and money.
Why does a business need Business Setup Service in UAE?
UAE in the last few decades has become an important point of international trade. UAE has one of the highest numbers of investments regarding business setup. UAE offers all then incoming business the advantages of a highly developed economy along with the competitive business environment. At the same time, it is easier for the international investor to benefit from Business Setup Consultants and their local knowledge of administration, legal procedures, and connection. As time is an important instrument along with money, it is favourable for the business owner to utilize their time in building up the client relationship rather than get stuck in operational issues.
How does the process work?
Setting up a business in UAE is a very structured procedure, starting with the kind of business setup suitable for the firm. The following are the type of business setups that UAE offers:
UAE has seven Emirates, and the mainland consists of all the business entities which are directly registered under each Emirates government and its authorities. The commercial activities are restricted to the geographical areas. Each of these regions is a representation of the local government policies, the legal structure of its most developed economy.
Dubai Mainland Setup
Commercial area permitted by the DED (Dubai Economic Department) to foreign entities to operate business functions.
To enhance the private sector business, Sharjah economic department created this open trade market for international companies.
Abu Dhabi Mainland Setup
Abu Dhabi Economic department actively participates in the formation of business registration of the most commercialized areas other than Free Zone.
Free Zone Setup
Free Zones are commercialized areas to support economic reform. These economic zones are created to attract foreign investors to invest and set up businesses, have no taxes and can have 100% of the firm, unlike mainland areas. Customs privileges make the free zones the most favourable locations in the Middle East for international operations. Business Setup Worldwide provide professional services and expertise in the formation of companies in all free zones of UAE including:
- Sharjah Airport International Free Zone (SAIF Zone),
- Jebel Ali Free Zone Authority (JAFZA),
- Dubai Airport Free zone Authority (DAFZA),
- Hamariyah Free zone Authority,
- Ajman Free Zone Authority,
- Ras Al Khaimah & Fujairah free zone Authorities.
UAE provides the privilege of creating offshore companies to foreign business owners. Incorporation of an offshore company for a foreign investor can be used for various purposes. Offshore companies are used as a holding company to hold interests in other firms in different jurisdictions, to hold trademarks, copyrights and other intellectual property rights, as well as for licensing of franchises. Income tax is not levied on the gain from an offshore company.
Advantages & Disadvantages of Business Setup in UAE
UAE opens great prospects and opportunities for the establishment of business. Minimal crime rate, no taxation, the stability of the current national currency, proposals for residential and commercial properties for their purchasing and renting, and the perfectly organized infrastructure are some of the benefits that make the United Arab Emirates attractive for the setting up of a new business or expanding the existing one.
Some of the advantages are:
- No corporate taxes on the gained profits for legal entities;
- No income taxation for business owners and employees.
- Simplified financial reporting system.
- Interest protection of the foreign business owners.
- UAE LLC offers unrivalled access to the wider UAE economy
- The investor becomes the partner in the company
- The investor gets the investor visa under which he/ she enjoys the investor’s status in the Emirates along with his/her family
- The investor has the option to commence branches
- The investor can manage the business without the day-to-day interference from the local partner
- The assets and capital created will be in the name of the company and not in the name of the local, national partner.
- Easy to open global /local corporate bank accounts and avail credit facilities.
Although there are limited disadvantages, however, bureaucracy creates some operational hassles such as:
- Foreign ownership restrictions, 51% of the shares must be officially registered under the ownership of the Local partner;
- Access to bank accounts by the local partner.
- The official registration of the side agreement is not possible
- For business operation, full POA of the local partner
- As per UAE jurisdictions, the Local partner has the right to claim 51% ownership of the company’s shares.
- A Free Zone Company is not allowed to trade directly with UAE domestic market. The Free Zone Company can undertake local business only through the locally appointed distributors. The customs duty of 5%is also levied for the local business.
We at Business Setup Worldwide provide you most efficient and appropriate solution for your business establishment. Our presence in UAE for many years has made us specialists in the area of business setup. Our connections go beyond the boundaries of UAE to establish a profitable venture; in short, we are a one stop shop for your operational requirements. Our knowledgeable team and experts come with decades of experience and proper connections, thus reduce your overall time from approaching us to starting up your venture in this region. If you would like to know more about UAE Business Setup, kindly write to us at [email protected] we will be happy to support/ take any of your queries.