What are the advantages of a business setup in a UAE Free Zone? Why is it attractive to register my company in a Free Zone?
Company Registration in a free zone is attractive for the following reasons:
- 100% foreign company ownership
- 100% repatriation of capital and profits
- Exemption from all import and export duties
- No corporate tax
- No dividend tax
- Abundant and inexpensive energy
- Competitive labor costs, skilled work force and easy, recruitment procedures
- One place for all administrative services
- On-site customer’s inspection
- Companies registered in a Free Zone can operate 24 hours a day
How many days do I need to spend in the UAE to register a company and to open a bank account?
One day. The rest of the steps to complete incorporation of your company will be performed by our Advisors.
What are the real business advantages of the UAE, including logistics, manufacturing etc.?
- Minimal cost of production and operational control of the business.
- No corporate tax on most types of activities and no income tax, absolutely little deductions related to the payment of wages.
- Along with significant tax advantages, the UAE has an extensive logistic infrastructure and cheap energy. It also has a fortunate geographical position in the region and can be favorably compared with progressive and friendly legal framework for doing business.
How comfortable is it to live and work there?
The United Arab Emirates is a unique combination of opportunities for business and recreation. Some of the prominent areas include entire business areas, financial districts with a modern stock exchange, great stadiums, theaters, museums and amusement parks. Modern logistics, manufacturing facilities in the Free Economic Zones, well-developed all business and social infrastructure make UAE a fantastic place to live and work.
I am only aware of English; does language create barriers in UAE?
UAE is a multinational country and English is widely spoken across the country.
People might have a different accent but that does not create a language barrier.
Obtaining residence permit in the UAE.
One of the most important factors in the further successful development of UAE is a liberal policy of the area which allows foreigners to lives, work, or just visit the country. UAE have created such conditions for life and work that no one feels like a foreigner in this country.
What are the roles and responsibilities of a company secretary?
The company secretary is considered as one of the stakeholders of a company. The role of a company secretary is to ensure:
- Company records are properly maintained
- Company remains compliant to statutory requirements.
- The company secretary is also responsible for preparing the Annual General Meeting’s minutes, a
- Assist in filing changes in and other compliance matters indicated under the Companies Act.
What is an Annual General Meeting?
The Annual General Meeting or AGM is an annual meeting attended by stakeholders of the company. During the AGM, the company director is required to present the company’s accounts which should reflect the genuine and accurate financial standing of the enterprise.
What are the procedures under the company license renewal?
- Collect the license renewal documents for office space
- Organize the required insurance certificates from the owner's insurance companies
- Submit the required documentation and authority fee payment
- Provide the audited financial statement
- Renew the applicable business licenses and certificates
- Conduct correspondence and meetings with the authority
What are the procedures which come under AGM fulfilled by the company secretary?
Preparation of AGM:
- Inform and agree with director to set up AGM
- Coordination with all shareholders of AGM
- Coordination with auditor
- Draft of standard minutes
- Draft of shareholder resolution
- Participation in AGM
- Coordination with directors and shareholders for the signatures
- Finalize minutes and shareholder resolution
- Filing minutes and audited accounts with the authority