FAQs

Subsequent to choosing an activity and the type of legal structure for your company, for starting a business in Bahrain, the necessary approvals from the concerned sector regulators are required. When all requirements are submitted, and conditions are met, a Commercial Registration (CR) is issued by the Ministry of Industry and Commerce. Commercial Registrations must be renewed annually.

100% foreign ownership is allowed in setting up a business in Bahrain. Sector-specific and/or company type restrictions may apply.

After obtaining the required approvals and submitting the requisite documents, it would generally take 1 to 5 business days for the company to get registered in Bahrain.

A resident director/partner/manager/legal representative is required only if the company under consideration is a representative or branch office.

The corporate tax in Bahrain is 0%. Companies in Bahrain are not required to file annual tax returns.

There are no restrictions on where a Bahrain company can operate. Bahrain provides access to the Middle East and the GCC states, and has bilateral trade arrangements with 43 countries.

Dubai is a secure place for investment and living. Expatriates constitute a majority of the population.

A minimum capital of AED 300000 (USD 81,810) is required in Dubai.

 a) Ascertaining the category/categories (Trade, industrial and/or professional) and type of business activity/activities to be practiced.

 b) Register the trade name of the business.  

c) Submit the company registration application and the proposed company name to the Department of Economic Development (DED) for an initial approval.

d) Notarize the company’s Memorandum of Association.

e) Leasing premises and contact the counter of the Planning Department of Dubai Municipality in order to verify that the said premise is suitable for the business.  

f) File company documents with the Department for Economic  Development (DED) and obtain trade license and the Chamber of  Commerce and Industry  

g) Creation of a name board.

h) Apply for establishment card at the Ministry of Labor

i) Register native workers with the Ministry of Labor

j) Register native workers with the General Authority for Pension and Social Security

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

One day. The rest of the steps to complete incorporation of your company will be performed by our Advisors.

1. Minimal cost of production and operational control of the business. 
2. No corporate tax on most types of activities and no income tax, absolutely little deductions related to the payment of wages.
3. 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.

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.

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.

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.

This depends on the type of your entity. For someone operating an offshore company, a virtual office is acceptable. A physical office premises must be leased if someone intends to conduct business within the UAE.

RAK FTZ requires the companies in its jurisdiction to obtain trade or business license before undertaking any activity. The license issued by RAK FTZ is subject to yearly renewal, for which the company should submit their audit reports.

A company in RAK is 100% tax free, allows 100% foreign ownership (in case it is in a Free Trade Zone), 100% repatriation of capital and profits, long term corporate tax exemption, and economical rental office spaces.

You can register a Free Zone Establishment (FZE) or a Free Zone Company (FZC). An FZE has only one shareholder while an FZC can have between 2 to 5. Foreign companies can also register a branch if the parent company has existed for more than 1 year.

(i) Copies of passports of shareholders, directors and managers (if applicable),

(ii) Incorporation forms,

(iii) Brief project description,

(iv) Company M&AA, and (v) Bank deposit showing minimum share capital of USD 30,000

No. Neither a resident director nor a resident shareholder is required for registering a company in RAK. Companies registered in the Ras Al Khaimah Free Zone can be 100% foreign owned.

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.

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.

• 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

Preparation of AGM:

• Inform and agree with director to set up AGM
• Coordination with all shareholders of AGM
• Coordination with auditor

AGM Event:

• 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

The memorandum should be written in English language.

Amendment of license is possible; we can help you with any changes you may require to make such as adding activities, shareholders, etc. (subject to approval).

UAE nationals/ Emiratis or companies owned by UAE nationals (100% ownership) are appointed as local service agents.

The process depends on the jurisdiction of each of the Emirates where the business is being setup. However, if the security checks have been cleared and the application fee and all supporting documentation are present and correct, the registration and licensing process can be completed within as little as one day.

The minimum capital of an LLC company will be AED 300,000 (each share is AED 1). If the capital is AED 1,000,000 or more, then a proof of money is required.

The same is possible, but the different location will be a branch of the main company in a different Emirate. The activities in the license are subject to the approval from the Economic Development Office. For setting up of a branch, incorporation documents of the parent company will be required.

Construction or any business activity which needs to be operated in the local market is not welcomed by the free zones.

100% control of all the financials belongs to the owner and the decisions on how they are used or invested. We provide the data, and the all the approvals are from the owner for invoice payment to vendors and signing the cheques.

We are experts in accounting and bookkeeping. We assign duties to our staff according to their skills and qualifications. We have also put in place appropriate controls to ensure the accurate and timely processing of all accounting data. Finally, we have a developed a system of procedures that apply to all clients. So if your usual bookkeeper is unavailable, another member of the team can quickly step into his or her place and immediately get up to speed with your needs.

It will probably cost less than what you are spending right now. We do not belong to your payroll. Hence the employee costs, hiring, recruiting, training, desk space and telephone costs are something which you don’t have to pay. Business Management Consultants does take care of the requirements.

Data confidentiality, copyright, and privacy are taken very seriously at Business Setup Worldwide. We ensure that any client related information is not published, distributed, sublicensed, sold or disseminated to third-party at any cost. Additionally, we make our employees sign confidentiality agreements, service-level agreements, & non-disclosure agreements at the onset of every project to ensure complete safety of our client's data.

We leverage the best communication technology to ensure that our finance and accounting services team is consistently available by phone, e-mail, Skype and chat to answer your queries and address your requirements at all times.

Business Setup Worldwide can work in close collaboration with your existing team and help you leverage on:

I.    Compliance and Controls

II.    Best Accounting Practices

III.    Timely Closing & Reporting

IV.    Technical & Complex Issues

V.    More Management Time

VI.    Impressing Potential Investors

Filling a patent application in UAE will protect seven Emirates namely Abu Dhabi, Dubai, Sharjah, Fujairah, Ras-Al-Khaimah, Umm-Al-Quwain, and Ajman.

Yes, it is mandatory by the patent law to apply to both English and Arabic languages

Certificate of Incorporation is an official document which attests the legal existence of the company issued by a competent authority in the applicant’s country or an extract from the commercial register. However, it is possible to submit the Articles of Association for Universities, and Government entities instead of a certificate of incorporation and all of these documents should be duly legalized.

Official search from the Patent Office is not possible.

It is possible and highly recommended. A registered trademark confers you to use the right to use your brand not only in the real world but online as well. So in case, a domain name conflict arises you will be in a dominant position to defend your brand.

Power of attorney from the applicant dully legalized.

a)    Deed of assignment from the inventor to the applicant duly authorized.

b)    Extract from the Certificate of incorporation from the applicant duly sanctioned.

c)    Certified copy of the priority document.

An individual’s cost of living is all dependent on their particular lifestyle and family situation. However, the cost of living in Abu Dhabi is relatively high. Expat salaries for highly skilled and senior-level management jobs are usually high, and it’s worth noting that salaries are tax-free. Accommodation and education will be the two most prominent monthly expenses for expats living in Abu Dhabi.

In Abu Dhabi, at least 2 directors are needed for company registration. A Free Zone company can have 1 director.

Only 1 shareholder is required to register a business in Abu Dhabi.

There is no minimum capital requirement.

There is no compulsion to hire a UAE National or a local in a Free Zone.

A dissemination license is required if a business intends to publish a print book, print magazine, newspaper or broadcast a satellite or terrestrial television channel or radio station. Please contact our team for further information on a dissemination license.

This depends on the type of business activity and logistics requirement to support the business. We at Business Setup Worldwide understand the client requirement and accordingly suggest the Free Trade Zone for business setup.

1. Masdar City
2. Abu Dhabi Ports Company
3. Abu Dhabi Airport Free Zone
4. Khalifa  Industrial Zone
5. Zones Corp
6. Twofour54

There is no minimum capital requirement if you are merely setting up a branch of your company. However, for establishing an LLC, the minimum capital requirement is AED 50,000.

1. 100% foreign ownership
2. Lower government fees
3. No custom duties on goods entering / leaving the zone
4. No corporate taxes.

1. Reserve company name
2. Preparation of documents of incorporation.
3. Obtain lease agreement for an office
4. Register with the Abu Dhabi chamber of commerce
5. Relevant license

There is no restriction in establishing a branch of any company inside the Free Zone.

A legal business entity in Ajman Free Zone can be one of Free Zone Establishment (FZE), Free Zone Company (FZC), Branch of a foreign Company (BFC), and Branch of a UAE Company (BLC).

There is neither any corporate tax nor personal income tax levied in Ajman. In addition, there are no requirements for a business in Ajman to prepare annual financial statements or tax returns for authorities, making it easy to manage.

AFZA allows 100% foreign ownership and is free from all types of taxes. Trade licenses are issued within 24 hours. Investors have 24 hours accessibility to their offices without any complications or security procedures.

Licenses issued by the free zone are valid for commercial operations inside the Ajman Free Zone and cannot be used to establish businesses in other emirates, but can be used to sell goods to other emirates through distributors.

For companies or new institutions that fall under the classification of Free Zone Company (FZC) or Free Zone Establishment (FZE), the minimum capital required is AED 183,500, or USD 50,000.

Yes, to set up a business in Ajman a valid physical address is mandatory for your business/office in Ajman. The minimum space required is 550 square feet. This is a prerequisite for opening a company in Ajman.

Having a local partner or a sponsor who is a UAE citizen is not a requirement, according to current policies and conditions. The investor is considered the exclusive owner of 100% of the business including freedom of residency on personal guarantee.

For companies or new institutions that fall under the classification of Free Zone Company (FZC) or Free Zone Establishment (FZE), the minimum capital required is AED 183,500, or USD 50,000.

Licenses issued by the free zone are valid for commercial operations inside the Ajman Free Zone and cannot be used to establish businesses in other emirates, but can be used to sell goods to other emirates through distributors.

AFZA allows 100% foreign ownership and is free from all types of taxes. Trade licenses are issued within 24 hours. Investors have 24 hours accessibility to their offices without any complications or security procedures.

All types of lawful business operations are allowed. Weightage is givento not the size but the type of business to be established, which is mainly light & medium industry, trading and service sectors, subject to the approval of Ajman Free Zone authority.

Company formation in Bahrain is the process of registering a business at Bahrain Investors’ Center (BIC). As a result, the business becomes a distinct legal entity.

Subsequent to submission of requirements to sector regulators, a Commercial Registration (CR) is issued by the MoIC. Commercial Registrations must be renewed annually.

100% foreign ownership is allowed in setting up a business in Bahrain. Sector-specific and/or company type restrictions may apply.

Bahraini and GCC nationals are permitted to own land in all areas of Bahrain.Non-nationals and foreign companies are permitted to own property and real estate in new developed areas.

After obtaining the required approvals and submitting the requisite documents, it would generally take 1 to 5 business days for the company to get registered in Bahrain.

If someone wishes to register a business in Bahrain with the company registrar, they would need to appoint only 1 shareholder.

Accounting and bookkeeping services include, broadly, account management, financial reporting, budgeting and International Financial Reporting Standards (IFRS) implementation.

The Company Affairs Directorate at the Ministry of Industry and Commerce (MOIC) licenses and registers auditors, auditing firms and accounting/bookkeeping firms.

Absolutely. Proper accounting and bookkeeping practices right from the start can help measure the financial position of a company, safeguard it against frauds and facilitate decision making.

Auditing and assurance services include operational, statutory & compliance audits, due diligence for M&As, corporate governance, financial projections, risk & actuarial assurance, and related services.

Assurance services help companies attain their business objectives by providing continuous reporting and mapping of commercial and financial issues, thereby enabling strategic decision making.

We help our clients oversee successful financial transactions and deals, and create value through acquisitions, disposals, mergers, and restructuring. We can assist a company in both strategy and implementation.

Company secretarial services include services like holding company statutory records, maintaining shareholders’ register, and filing audited financial statements.

Registering a business in Bahrain involves notarizing required documents, reserving a name, registering a local office address, and publishing the details in the official gazette.

No. Resident directors/shareholders would not be required while registering a company in Bahrain.

To register a business with the company registrar in Bahrain, only 1 shareholder is required. That is the minimum number of shareholders to register a company.

Secretarial services are required to make sure your company is compliant with the regulations of Ministry of Industry and Commerce, Kingdom of Bahrain.

Secretarial services aid in mitigating and minimizing possible operational risk to a company by ensuring that regulatory standards are duly met.

Yes, intellectual property needs to be renewed. A patent or a trademark can be renewed. Depending upon whether the IP is a patent or trademark, the period after which it needs to be renewed is 15 years (subject to certain conditions) and 10 years, respectively.

IP registration in useful in many ways, like protection of market share by not letting others use the same concept/idea, licensing the IP to third parties for commercial returns, selling the IP for a specified sum, using the IP to raise equity for business operations.

The validity of a patent registration is for 15 years only. It can be renewed for 5 years given that the patent is of special significance and the income realized from it during the original term is not considerable relative to the expenses incurred.

There is a 60-day period, after filing, open for filing an opposition to a trademark. An opposition to the registration of a trademark should be prosecuted before the Registrar by an authorized agent or the proprietors themselves within the prescribed period.

A trademark registration is valid for 10 years from the date of filing the application for it. Subsequent to 10 years (after filing the application), a trademark registration is renewable for periods of 10 years each.

Copyright protection lapses, usually, 50 years after the death of the author. If the book, painting, photograph, radio/television programme or softwareisa jointly owned intellectual property, the patent lapses 50 years after the death of the last surviving author.

No, 100% foreign ownership is allowed in the Free Zones. However, most Free Zones require that the General Manager is a resident of the U.A.E. We are happy to assist you with a resident visa post application for setting up a business in Dubai.

In most cases to qualify for and to hold a license, the company must be in possession of a valid lease for office space, warehouse space, or development land. Most Free Zones require businesses to operate from the Free Zone and have a physical presence. Dubai is an attractive place to live due to its tax reforms.

In Dubai either you can set up a business in mainland or offshore jurisdiction. For a company in Dubai region, a local sponsor/ UAE national is required to own a part of your business. In the case of a free zone, the business owner can hold 100% of the company shares but can operate in the limited geographical region. An offshore business, on the other hand, will allow you to safeguard your wealth and assets. However, trade is restricted, and you can only receive a certificate of incorporation and not a trade license.

Company formation in Free Zones can take anywhere between 3-10 days, where as an offshore company can be established within 48 hours if the right documentation and resources are available. Mainland company formation, business license and registration depend on the necessary paperwork and documentation requirement.

A trade name is required to establish an LLC or a mainland company. Along with trade name, the business owner/ investor have to obtain some approval related to the products or services. Memorandums of Association of the enterprise have to be submitted with a lease contract and another necessary document in DED.

There are certain trade restrictions, for example, a Free Zone company cannot trade directly with the UAE market. So a local distributor has to be appointed. Employees with a visa from the specific free zone company are expected to work from the company’s offices or building in the particular free zone. A customs duty of 5% is also applicable in the case of local business.

We at Business Setup Worldwide provide specialized bookkeeping and accounting services; we meet all your accounting requirements. Outsourcing is a very cost effective way of reducing the hiring and training expenses of the accountants in an organization.

We provide accounting solutions unique to the client’s requirement. The scope of coverage could include whole accounting aspect for the entity to specific functional areas in accounting. The service could be performed onsite or offsite depending on the requirement for service delivery, information security, logistics, and deadline.

The accounting assistance agreement term is for one year (financial years) and later can be renewed after review of your new requirements. Contracts are very flexible, e.g. one or two days every week, monthly, quarterly, half-yearly or annually. We will meet the needs of your business as per your requirement.

You are assured of a dedicated professional accounting service to help make the most of your business.

Owners do not lose control because they will have more time to make informed decisions on all the financial aspects post accounting bookkeeping are done. As an investor you will be able to focus and plan instead of reacting to business events.

It can include almost everything an in-house accounting department does or as little as you would want, and provide more effective financial information that can benefit the growth of your company.

• Accurate Guidance
• Fast Track Process
• Valued Connection
• Professional Market Experience

This depends on the type of your entity. For someone operating an offshore company, a virtual office is acceptable. A physical office premises must be leased if someone intends to conduct business within the UAE.

RAK FTZ requires the companies in its jurisdiction to obtain trade or business license before undertaking any activity. The license issued by RAK FTZ is subject to yearly renewal, for which the company should submit their audit reports.

A company in RAK is 100% tax free, allows 100% foreign ownership (in case it is in a Free Trade Zone), 100% repatriation of capital and profits, long term corporate tax exemption, and economical rental office spaces.

RAK Media Free Zone comes under the mandate of Emirate's Investment Authority and issues licenses for a company setup to animation studios, television channels, computer graphics houses, media establishments, studios for audio-visual productions, etc.

RAK Investment Authority is a sought-after free zone for companies belonging to real estate, manufacturing, mining, tourism, trade and commerce, construction, food processing, warehousing, and maritime services.

A company in Sharjah requires a minimum of 1 director. This director may not be a resident of Sharjah.

If you are establishing a FZE or an FZC, the minimum capital requirement is AED 150,000 or US $41,000, but there is no minimum capital required if you are setting up a branch of a foreign/local company.

No, there are no restrictions to importing and exporting of goods as long as it is in accordance with your license. No duties are imposed on goods imported and/or exported from within the Free Zone.

A company in Sharjah does not have to pay any corporate tax. Additionally, companies in Sharjah are free to repatriate all profits and capital from the United Arab Emirates. Moreover, if a distributor wishes to sell within the UAE, a custom duty of 5% is levied.

All foreign companies in Sharjah are obliged to submit annual returns, and are required to have their financial statements audited annually, according to corporate law.

For filing a trade name, one should select one that has not already been booked by another investor and one that does not violate the instructions and conditions. All requisite documentation must be submitted to Department of Economic Development.

Yes, a company in Sharjah can be 100% foreign-owned, provided it is incorporated in the Sharjah Airport Free Zone.No, a resident director is not mandatory for forming a company in Sharjah.

Setting up a company in the Sharjah free zone requires a minimum capital of AED 150,000.It takes an average of 13 weeks to register a company in Sharjah.

A company in Sharjah does not have to pay any corporate tax. Additionally, companies in Sharjah are free to repatriate all profits and capital from the United Arab Emirates. Moreover, if a distributor wishes to sell within the UAE, a custom duty of 5% is levied.

The benefits of operating from SAIF Zone are tremendous. It allows 100% foreign ownership, exemption for personal and corporate income tax with 25-year contract remedies for final rent. Licences are issued on the same day.

The licence issued from SAIF Zone is valid for operating your business only inside the free zone territory. You cannot use this license to set up a business in any of the other Emirates. It can however be used to sell goods to other emirates, at a fee.

All types of industrial activities are allowed with the exception of leather and tanningindustries, manufacturing & packing of all types of pesticides and battery factories, andall types of materials that lead to ozone layer depletion.

In Abu Dhabi free zone, a company can be incorporated as a Free Zone Establishment (FZE), Free Zone Company (FZC) or branch of a local/foreign company.

Abu Dhabi free zone provides for 100% foreign ownership, 100% repatriation of capital and profits, exemption from taxes, no import tariffs, and no currency restrictions.

To register a company in Abu Dhabi free zone, only 1 director is required. This is one of the great benefits of setting up a company in a free zone in Abu Dhabi.

In Abu Dhabi Airport Free Zone, a company can be incorporated as a Free Zone Establishment (FZE), Free Zone Company (FZC) or branch of a local/foreign company.

Abu Dhabi Airport Free Zone provides for 100% foreign ownership, 100% repatriation of capital and profits, exemption from taxes, no import tariffs, and no currency restrictions.

To register a company in Abu Dhabi Airport Free Zone, only 1 director is required. This is one of the great benefits of setting up a company in a free zone in Abu Dhabi.

In Kizad, a company can be incorporated as a Free Zone Establishment (FZE), Free Zone Company (FZC) or branch of a local/foreign company.

Kizad provides for 100% foreign ownership, 100% repatriation of capital and profits, exemption from taxes, no import tariffs, and no currency restrictions.

To register a company in Kizad, only 1 director is required. This is one of the great benefits of setting up a company in a free zone in Abu Dhabi.

In Masdar City, a company can be incorporated as a Free Zone Establishment (FZE), Free Zone Company (FZC) or branch of a local/foreign company.

Masdar City provides for 100% foreign ownership, 100% repatriation of capital and profits, exemption from taxes, no import tariffs, and no currency restrictions.

To register a company in Masdar City, only 1 director is required. This is one of the great benefits of setting up a company in a free zone in Abu Dhabi.

In twofour54, a company can be incorporated as a Free Zone Establishment (FZE), Free Zone Company (FZC) or branch of a local/foreign company.

twofour54 provides for 100% foreign ownership, 100% repatriation of capital and profits, exemption from taxes, no import tariffs, and no currency restrictions.

To register a company in twofour54, only 1 director is required. This is one of the great benefits of setting up a company in a free zone in Abu Dhabi.

The time frame of your company setup depends a lot on finding the right local partner and the diligence with which requirements of documents and licences are met. It should take between 3 to 6 weeks for the entire company formation process.

Yes, for a person relocating to the UAE after company incorporation, it is mandatory that one obtains an employment and residence visa. A UAE visa is applicable in this case.

Setting up a mainland company in the UAE means you cannot have 100% ownership of your business. You would need to find a UAE national to be your local sponsor, allowing you a maximum of 49% foreign ownership in your company.

A mainland business setup in the UAE brings along with it several advantages, like there is zero taxation, zero minimum capital requirement, no restrictions on recruitment, no currency limitation, low import duty, and a robust economy.

Yes, a physical presence is a must for business setup. Having an office space on rent or lease is compulsory for most of the government licences as they are processed only subsequent to your submitting your lease agreement.

There are plenty of options sans restrictions for a mainland business setup in the UAE. Few of the prominent places to rent an office are Sheikh Zayed Road, Business Bay, Deira, Bur Dubai, Al Quoz and Al Quasais.

An offshore company, also known as non-resident company, is a business entity which does not indulge in any substantial business activity in its country of origin.

An entrepreneur looking to avail tax benefits applicable in a region, while maintaining anonymity, should go for setting up an offshore company.

To register an offshore company in Ajman, one would need the passport copies and address proofs of the directors and shareholders, bank reference letter, and CV of the shareholder.

To form a JAFZA offshore company, it requires merely 1 shareholder, who need not be present there in person.

An offshore company in Dubai allows for 100% foreign ownership, is exempt from corporate and personal taxes, and imposes no restrictions on repatriation of capital.

Though UAE offshore companies are typically incorporated to benefit from local banking services and no tax, it is possible to have a bank account elsewhere in the world.

RAK FTZ requires companies in its jurisdiction to obtain trade or business licence before undertaking any activity. The licence issued by RAK FTZ is subject to yearly renewal, for which the company should submit their audit reports.

A company in RAKEZ is 100% tax free, allows 100% foreign ownership, 100% repatriation of capital and profits, long term corporate tax exemption, exemption from import and export duties, and economical rental office spaces.

No. Neither a resident director nor a resident shareholder is required for registering a company in RAKEZ. Companies registered in the Ras Al Khaimah Free Zone can be 100% foreign owned.

A company in RAKEZ can be a Free Zone Establishment (FZE) or a Free Zone Company (FZC). An FZE can have only 1 shareholder whereas an FZC can have between 2 to 5. Foreign companies can open a branch in RAKEZ provided the parent company is over 1 year old.

For registering a business in RAKEZ, one is required to submit copies of passports od shareholders, directors and managers, incorporation forms, a project description, company M&AA, and requisite bank deposit, to RAKEZ free zone authority.

RAKEZ is home to several business towers, executive residences, customized real estate for leasing, has advanced communication facilities, and already built warehouses and industrial units with necessary equipment and furniture.

RAK Media City requires the companies in its jurisdiction to obtain trade or business license before undertaking any activity. The license issued by RAK Media City is subject to yearly renewal, for which the company should submit their audit reports.

No. Neither a resident director nor a resident shareholder is required for registering a company in RAK Media City. Companies registered in the Ras Al Khaimah Free Zone can be 100% foreign owned.

A company in RAK Media City can be a Free Zone Establishment (FZE) or a Free Zone Company (FZC). An FZE can have only 1 shareholder whereas an FZC can have between 2 to 5. Foreign companies can open a branch in RAK Media City provided the parent company in over 1 year old.

A company in RAK Media City is 100% tax free, allows 100% foreign ownership, 100% repatriation of capital and profits, long term corporate tax exemption, exemption from import and export duties, and economical rental office spaces.

RAK Media City offers licences for film production, music & entertainment, marketing and advertising services, web designing, software development, digital media and consultancy for human resources, accounting, auditing, etc.

For registering a business in RAK Media City, one is required to submit copies of passports od shareholders, directors and managers, incorporation forms, a project description, company M&AA, and requisite bank deposit, to RAK Media City free zone authority.

For an offshore company in RAK, a physical office is not required. A virtual office is enough if a company has to function as an RAK ICC.

To form an RAK offshore company, it requires merely 1 shareholder, who need not be present there in person.

The license issued from Hamriyah Free Zone is valid for operation only inside the free zone territory. It cannot be used to set up a business in any of the other emirates.

As a provider of an ideal business environment, service providers (lawyer, accountancy, business consultancy, etc.), traders and manufacturers will certainly find a place in the free zone.

If you are establishing an FZE or an FZC, the minimum capital requirement is AED 150,000, but there is no minimum capital required when setting up a branch of a foreign/local company.

Hamriyah Free Zone provides competitive incentives and unique opportunities to establish a business in a tax free environment, full company ownership, exemptions from all commercial levies and repatriation of capital and profits.

Hamriyah Free Zone laws do not require a UAE national to hold shares in locally incorporated entities. Thus, such entities can be wholly owned by foreigners. Moreover, there are no restrictions on the repatriation of capital or profits from the nation.

Companies in HFZA have access to 14 meter deep water port and 6 meter deep inner harbor, land for lease for investor development, and pre-built warehouses, factories and office units for lease, among other benefits.

The benefits of operating from SAIF Zone are tremendous. It allows 100% foreign ownership, exemption for personal and corporate income tax, with 25 year contract remedies for final rent.

The License issued from SAIF Zone is valid for operating your business only inside the free zone territory. You cannot use this license to set up a business in any of the other emirates. Goods however may be sold to the other emirates.

If you are establishing a FZE or an FZC, the minimum capital requirement is AED 150,000 or US $41,000, but there is no minimum capital required if you are setting up a branch of a foreign/local company.

All types of industrial activities are allowed with the exception of leather and tanning industries, manufacturing & packing of all types of pesticides and battery factories, and all types of materials that lead to ozone layer depletion.

SAIF exempts the companies established in the free zone from all commercial taxes. However, as certain activities are allowed only in the free zone, customs duty applies when a free zone entity wishes to sell their product onshore UAE.

SAIF zone has international and local telephone lines services, fax, email, and internet services available at competitive charges. Also, it has a shuttle bus service provided at nominal charges from the zone to the city centre 5 times a day.

Filling a patent application in UAE will protect seven Emirates namely Abu Dhabi, Dubai, Sharjah, Fujairah, Ras-Al-Khaimah, Umm-Al-Quwain, and Ajman.

Yes, it is mandatory by the patent law to apply to both English and Arabic languages.

Certificate of Incorporation is an official document which attests the legal existence of the company issued by a competent authority in the applicant’s country or an extract from the commercial register. However, it is possible to submit the Articles of Association for Universities, and Government entities instead of a certificate of incorporation and all of these documents should be duly legalized.

Official search from the Patent Office is not possible.

It is possible and highly recommended. A registered trademark confers on you the right to use your brand not only in the real world but online as well. So, in case a domain name conflict arises you will be in a dominant position to defend your brand.

The documents required forfiling a patent application are:

• Power of attorney from the applicant dully legalized
• Deed of assignment from the inventor to the applicant duly authorized
• Extract from the Certificate of incorporation from the applicant duly sanctioned
• Certified copy of the priority document

The complete process of company incorporation in Cyprus, including incorporation, bank account approval and corporate internet banking approval, takes 10 weeks on an average.

No, the director of an LLC in Cyprus need not mandatorily be a resident of Cyprus.

The corporate tax in Cyprus is 12.5%. Also, there is no capital gains tax or withholding tax on dividends paid to a non-resident person or company.

Netherlands has a corporate income tax rate of 20% on the first 200,000 euros of taxable profits, and 25% over profits exceeding that amount.

There is no minimum share capital for opening Dutch limited liability company. To register a public company, one is required to deposit 45,000 euros as share capital.

The most important documents required to incorporate a company in Netherlands are the Memorandum and Articles of Association.

An address, termed as ‘registered office’, is required to form a company in India. However, there is no requirement for location, minimum area, etc.

A private limited company has few compliance requirements. Therefore, generally where there is no requirement of raising of finances through a public issue and the ownership is intended to be closely held by limited number of persons, a private limited company is a good option.

The minimum paid-up capital to incorporate a private limited company in India is INR 100,000 (about 1550 USD).

Depending upon the workload of the registrar, it can take around 2 weeks to register a company in India.

All directors and shareholders must provide identity and address proof, as well as a copy of the PAN card (for Indian Nationals) and passport (for foreign nationals). Furthermore, a No Objection certificate must be submitted by the owner of the registered office premises.

The director of a company must be at least 18 years of age. There is no upper limit on the age of the director.

Memorandum of Association (MoA) is a fundamental document for company incorporation. It suggests the name, the state of registered office, the liability of the shareholders and the capital by which it is willing to start the business. The activities of the company are bound by the MoA and it is likely to attract penalties if goes ultra vires.

Articles of Association (AoA) is an internal document for the company which defines the matters relating to conducting the business of the company, procedure and limitations of altering the structure of the company.

An Indian company can be registered with 1 or more foreign nationals as its directors. As per Companies Act 2013, in case of a private company with only 2 directors and both of them foreign nationals, at least one of them has to be a resident in India for a period of at least 182 days in the calendar year.

It takes at least 45 days if all documents needed are sent to SEC and other government institutions. This is on the assumption that no government delays will occur in the process.

Yes, you need to remit USD 200,000 into a Philippines bank account as part of the process to incorporate your company here in the Philippines. The money can be withdrawn after the release of the Securities and Exchange Commission (SEC) certificate.
If your company is considered as an export market enterprise (i.e. more than 60% of your revenue or output is exported from the Philippines), then you are not required to put up $200,000.00 as paid up capital. The minimum paid up capital for an export market enterprise is only Php5,000.00. However, if your company is considered as a domestic market enterprise, and subject to the foreign investment negative list, then you are required to invest US $200,000 for you to be able to set up a 100% foreign owned company. Please take note though that foreigners are not allowed to engage in retail business (as this is reserved for Filipinos) unless they are investing $2.5 million.

A tax of 10-15% is levied on the fund you declared to repatriate out of the country.

The Philippine Economic Zone Authority (PEZA) is attached to the Department of Trade and Industry and is tasked to promote investments, extend assistance, register, grant incentives to facilitate the business operations of investors in export-oriented manufacturing and service facilities inside selected areas throughout the country. It is proclaimed by the President of the Philippines as PEZA Special Economic Zones.

A foreign national entering the Philippines to engage in a lawful occupation is issued a work visa. Dependents of the principal holder include the spouse and dependent’s unmarried children under the age of 21 years. Other visas that may be applicable to the foreign employee depending on the nature of the business of the Philippine corporation.

The registration process including the opening of a bank account and application with government agencies normally takes 8-12 weeks. Securities and Exchange Commission (SEC) registration alone can be completed within only 2 weeks.

A representative office, when compared to an ROHQ (Regional Operating Headquarters in the Philippines) is an investment vehicle that only allows representation of an office in the Philippines which limits its activities to deal directly with clients of its head office located in the Philippines and only provides information dissemination about the company’s products / services and quality control. A Representative office, therefore, is a cost center that should not be fully subsidized by its parent office and may not derive income from the Philippines. To maintain the same, an inward remittance of USD 30,000 must be remitted to the Philippines for operating expenses. On the other hand a ROHQ is allowed to derive income in the Philippines by providing qualifying services to its branches, subsidiaries, or affiliates in the Philippines and other foreign markets. An ROHQ is prohibited from offering its products or services to enterprises other than its branches, subsidiaries or affiliates.

For services offered only to the enterprises’ branches, subsidiaries or affiliates, ROHQs are taxed 10% of taxable income compared to the 30% tax of Domestic Corporation and resident and non-resident foreign corporations. Enterprises may avail of tax incentives, depending on their proposed business activity.

It is necessary to register and obtain a licence from the Local Government Unit to legalize your business in the city or municipality where you intend to locate your business.

Business permits expire on the 31^st of December (unless permits are issued on a quarterly basis) and must be renewed annually. Renewal is every January, depending on the city or municipality where the office is operated.

Corporations are required to file quarterly income tax returns (and pay the corresponding tax) together with an accompanying financial statements including an Income Statement. Monthly VAT returns will require a supporting schedule of income and expenses.

A private limited company, or Sendirian Berhad (Sdn Bhd), needs a minimum of 2 directors to be set up. The maximum number of directors for it is 50.

Yes, a person of foreign citizenship can incorporate a private limited company in Malaysia without needing a business visa.

Yes, a foreigner can own all the shares of a company in Malaysia without any local partners.

Yes, foreigners may own up to 100% of a Nigerian business, except in the maritime sector.

The number of members in a private limited company in Nigeria can range from 2 to 50.

The corporate income tax rate in Nigeria is 30%, assessed on a preceding year basis.

The difference lies in scope: federal incorporation gives a business increased business name protection, wider rights to conduct on business, and the freedom to carry out business in multiple provinces. The downside of federal incorporation, compared to a provincial one, is the additional cost and paperwork it ensues.

A Canadian limited liability company is suitable for most types of business activities, and is the general entity of choice for most entrepreneurs wanting to start a company in Canada.

To form a company in Canada, only 1 shareholder and 1 director are called for – with no restriction on their respective nationalities.

No, there is no particular requirement in the Companies Ordinance as far as the office address, director or company secretary for a Hong Kong company are concerned.

If your documents are in order approved, the entire process, including getting your Certificate of Incorporation and Business Registration Certificate, can be completed within 1 hour.

There is no requirement for the minimum amount of a company’s paid-up capital under the Companies Ordinance in Hong Kong.

Yes, a resident director is mandatory to incorporate a company in Botswana.

The corporate income tax (CIT) rate in Botswana is 22%. However, a reduced rate of 15% applies to manufacturing and financial services companies (having approval from the Ministry of Finance).

Company setup in Botswana takes around 50 days – starting from the time the application is submitted and all supporting documents are furnished to the Ministry of Trade and Industry.

The standard corporate income tax (CIT) rate in Vietnam is 20%. However, businesses in the oil and gas industry are subject to CIT rates from 32% to 50%, depending on the location and project conditions.

Yes, foreigners are allowed to own 100% of the shares of their business in most industries. However, for certain specified industries, company setup is allowed only in a joint venture with a Vietnamese individual or corporate entity.

A JSC in Vietnam is a good option if an entrepreneur or company is planning to conduct business with multiple partners or is looking to finance the company via the issuance of equity.

The corporate income tax rate for a business in Georgia is 15%.

In Georgia, the standard VAT rate is 18%, except for services of tour operators, exports, electrical power, international shipping activities or transfers of gold to the National Bank of Georgia, which don’t attract VAT.

There is no minimum paid-up capital requirement for setting up an LLC in Georgia. Moreover, an LLC in Georgia can be registered with only 1 director and 1 shareholder, both not necessarily local residents.

In Switzerland, the corporate tax depends on the canton a company is situated in. The total tax burden for a business can range from 11 to 25%.

Yes, a company incorporated in Switzerland must have a registered office based in the country.

A corporate account in a Swiss bank can be opened by submitting the Articles of Association (AoA) and the business registration documents as proof. Additionally, a minimum share capital, depending upon the company type, must be deposited in the account.

A global business (GB) company in Mauritius is an entity which proposes to conduct business activities outside Mauritius. It is regulated by the Financial Services Commission.

A GBC1 (offshore company) requires a minimum of 1 shareholder and 2 directors, while a GBC2 (international company) requires a minimum of 1 shareholder and 1 director, to be set up.

The corporate tax in Mauritius is 15%. However, GBC1 (offshore) companies are entitled to a foreign tax credit, bringing their maximum effective tax rate down to 3%.

The standard corporate tax rate in Lithuania is 15%. Moreover, small companies having less than 10 employees and annual turnover less than €300,000, can apply for a tax rate as less as 5%.

The minimum share capital required to start a company in Lithuania is €2,500 for a private limited liability company and €38,000 for a public limited liability company.

A private limited liability company in Lithuania requires 1 shareholder and 1 director, each of any nationality, and a paid-up share capital of €2,500.

That depends on the kind of business activity the company would be carrying out. Activities pertaining to healthcare, dentistry or architecture require a license, and those in banking, insurance or aviation require special permission, before they can be formed.

Although people can choose from among several types of companies for incorporation in the US, the most commonly preferred types are limited liability companies (LLCs) and corporations.

Yes, a foreigner can own a company in the United States. The procedure for a foreign citizen to form a company in the US is the same as that for a US resident.

Depending upon the type of business structure you choose and state you form your business in, it can take anywhere from 1 day to 4 weeks to incorporate a company in the US.

In the USA, a company can patent its idea by applying for a utility, design or plant patent at the United States Patent and Trademark Office (USPTO).

In the USA, if there is a dispute between two parties over a trademark, whoever used it first commercially shall own its right, even if they did not register it first. One can trademark a name (that has not already been trademarked) by registering it at the USPTO.

In the USA, one can register for the protection of copyright through the Copyright Office. The registration of copyright is not compulsory but is required if one wants to file a lawsuit for the infringement of copyright.

In Greece, a limited liability company can be registered within 3 weeks, with just 1 shareholder and 1 director.

A stock corporation in Greece can be formed by a minimum of 2 individuals or corporate entities, with a minimum share capital of €60,000.

The corporate income tax in Greece is 29%. Foreign companies in Greece are taxed only on the income that is generated in the country.

Incorporation costs amount to over QAR 30,000 in the first year. Annual company costs amount to over QAR 5,000 from the second year onwards. The average fee for Qatar engagement is above QAR 100,000, including the company's incorporation, bank account, office address, and director residency.

An entity wholly or partially foreign-owned and derives income from sources in Qatar is taxable at 10%.

In Qatar, a foreign investor must have 1 or more local (Qatari) partners to start a business, with the latter’s share being at least 51%. However, non-Qatari persons can directly invest in agriculture, industry, healthcare, education, tourism, exploitation and development of natural resources, energy, or mining.

The corporate income tax rate in Oman is 15%.

To start an LLC company in Oman, at least 2 shareholders, 1 director and a minimum share capital of OR 150,000 is required.

If all documents and other prerequisites are in order, company formation in Oman takes about 8 to 10 days.

Corporation income tax in Tanzania is a tax levied on corporation taxable profit for all companies registered and/or doing business in the country. The current corporation tax rate is 30%, with the exception of new assemblers of vehicles, tractors and fishing boats, for whom it is only 10% for the initial 5 years from the commencement of operation.

The value added tax (VAT) rate in Tanzania for the supply and import of goods and services is 18%. The VAT rate for the export of goods and certain services is 0%.

Yes, it is a statutory requirement for a company in Tanzania to have a physical registered office for communications and service of notices.

A Belize offshore company does not have to pay taxes on earnings from abroad (revenues, dividends, capital gains, or earned interest).

If you wish to set up a business in international trade, you can go for a Belize offshore company. It is ideal for asset protection, tax saving, and confidentiality.

 For setting up any company in Belize, you would mandatorily require the following:

• A company name
• A registered agent
• A director

The standard corporate tax rate is 19%. There is a special tax of 15% imposed on dividend income of local tax resident entities from non-resident entities (unless subject to participation exemption).

For setting up a limited liability company (LLC) in Czech Republic, the minimum share capital required is just CZK 1.

If all documents and other legal formalities are in place, company registration in Czech Republic shouldn’t take more than 2 weeks.

Yes, at least 1 resident director from the European Economic Area (EEA) is required to set up a limited liability company in Ireland.

The standard corporate tax rate in Ireland is 12.5% for trading income and 25% for non-trading income.

If all documents and formalities are in place, company formation in Ireland takes place within 5 days.

Accounting is the process of interpreting, classifying, analyzing, reporting and summarizing financial data whereas bookkeeping is the process of recording the financial transactions.

IFRS stands for International Finance Reporting Standards. Earlier it was known as IAS (International Accounting Standards). It was established to maintain a transparency and stability throughout the financial world. This would help foreign investors to understand business prevailing in different countries.

In Greece, a company may follow International Finance Reporting Standards (IFRS) or Greek Generally Accepted Accounting Principles (GAAP).

The initiate the process or get started, just contact us. Our business experts will guide you through the entire accounting process. Once engaged, we will perform the necessary processes and help you in dealing with accounting and bookkeeping services.

In Greece, one may choose to incorporate a company as one of the following legal entities:

• Limited Liability Company
• Branch of a Foreign Company
• General Partnership
• Limited Partnership
• Private Capital Company

WIPO refers to the World Intellectual Property Organization. Established in 1967 and headquartered in Geneva, is one of the specialized agencies of UN, promotes creativity and delivers IP Protection Services to provoke individuals and businesses to innovate.

In Greece, the intellectual property protection for the following types of creations may be sought:

• Copyright and related rights
• Patents and utility models
• Trademarks
• Plant varieties
• Topographies of semiconductor products
• Business methods
• Supplementary protection certificates for pharmaceuticals
• Biotechnological inventions
• Industrial Designs

Greece offers 3 types of patent claims:

• Product Claims
• Production Claims
• Swiss-type claims for the pharmaceutical industry

Greece offers three levels of trademark registrations: National, Community, and International level.

Creatives under the categories of music, audiovisual works, computer programs, literary works and TV/radio broadcast can be protected under piracy/copyright infringement in Greece.

Yes, an unregistered trademark can be licensed in Greece.

No, there is no restriction on the transfer of currencies in Greek jurisdiction.

Yes, a physical office is mandatory for forming a wholly owned foreign company in Myanmar.

For a private company, transfer of shares is restricted, and the number of shareholders may range from a 2 to 50. Public companies must have a minimum of 7 shareholders.

The different between a branch office and a representative office is that the former is allowed to invoice and required to fill annual tax returns annually.

While a partnership is not considered a separate legal entity from its partners, a limited partnership provides for a certain degree of limited liability, with one general partner and other limited partners.

The private limited company is the most relied upon the business structure in Singapore. It is a dynamic and scalable business structure that is conducive to the growth of a business.

Annual accounts must be prepared and submitted to the Inland Revenue Authority of Singapore, and the Accounting and Corporate Regulatory Authority (ACRA), within 18 months from incorporation, and every 12 months subsequently.

The intellectual property governing bodies in Vietnam are:

• The National Office of Intellectual Property (NOIP)
• The Vietnam Chamber of Commerce and Industry (VCCI)
• Vietnam Customs

The National Office of Intellectual Property (NOIP) is an agency which acts as the chief coordinator for intellectual property rights in Vietnam, under the umbrella of the Ministry of Science and Technology.

The agencies/organizations responsible for the different types of intellectual property rights in Vietnam are:

• Copyright Office of Vietnam: For copyright and related rights
• National Office of Intellectual Property (NOIP): For industrial property
• Plant Variety Protection Office: For rights to plant varieties

A word or a set of combination of words, numerals, shapes, letters, symbols, drawings, and a combination of all these are the different types of trademarks that can be registered in Vietnam.

Scent and sound are the two types of things that cannot be registered as trademarks.

Banknotes of a union, federal district, state, municipality, territory or any country; titles and coins are trademarks which are not eligible for registration.

In Vietnam, trademarks are classified into two types – local trademark and international trademark.

WIPO refers to the World Intellectual Property Organization. It is a global forum which promotes innovation and creativity for the economic, social and cultural development of all countries with the help of a balanced and effective international IP system.

 It takes around 2-3 working days for company registration in Belize.

IBC stands for International Business Company. It is a corporate vehicle that drives international financial transactions. It delivers a simple and fast incorporation process with the help of modern technology. IBC Registry can complete the company registration process in Belize within an hour.

In Belize, fixed assets like property and land are subject to tax rates ranging from 1-12%.

 Violation of any exclusive right held by a copywriter is called copy infringement.

The different types of trademarks are:

• Collective marks
• Certification marks
• Multi-class applications

A trademark in Belize is valid for ten years from the registration date.

A trademark in Belize is valid for 10 years from the date of registration.

The procedure for availing a trademark in Belize involves the submission of the following documents:

• Power of Attorney signed by the applicant
• Details of trademark
• Copy of the image being registered
• Intended classes of registration for the trademark

The validity period of a patent in Belize is 20 years.

 No, once the validity of a patent in Belize expires, it cannot be renewed.

 The minimum cost of a patent right in Belize is $450.

Patent Cooperation Treaty (PTC) is an international patent law treaty conducted in 1970 for filing applications to protect inventions.

The following can’t be held under a Belize copyright:

• Titles and names
• Ideas
• Works by the Belize government
• Works without facts
• Fashion designs

 The required documents for company registration in Belize are

• Copy of passport or individual ID
• Address proof (utility bill, bank statement, personal address, etc.)
• Recent bank statement or reference letter
• A business plan
• Curriculum vitae

University Quality Assurance International Board (UQAIB) issues a license to operate universities in Dubai Academic City.

DuBiotech offers full exemption of personal, income and corporate tax for 50 years.

For a company to be incorporated as an FZ-LLC in DuBiotech, a minimum paid up capital of AED 50,000 is required.

For the setting up a branch in DuBiotech, no minimum capital is required.

For performing manufacturing and production activities by various segments under DuBiotech, a minimum capital of AED 300,000 is required.

LEED refers to Leadership in Energy and Environmental Design. It is a green building rating system which provides a framework for developing efficient, cost-saving and healthy green buildings.

The Nucleotide Complex is a highly effective and safe as it has been designed as per the Class III biosafety standards and has biological safety cabinets and exhaust systems along with sterilized high-grade stainless steel mechanical equipment which prevents contamination and highly ensures a hygienic environment.

DuBiotech has been established in accordance with the Food and Drug Administration (FDA), the World Health Organization (WHO) and the International Council of Harmonization (ICH), and hence works according to their respective international standards.

The infrastructure of the Dubai Design District consists of three phases. The first phase is dedicated to offices, studios and work units; the second to fashion events and exhibitions; the third to hotels, luxury retail, and food & beverages.

Dubai Design District offers exemption from corporate tax for the first 50 years.

A freelancer permit is a type of business entity or license given to freelancers which give them the privilege to run a business in their own birth name instead of a brand name. This permit remains valid for one year.

For setting up a Free Zone Limited Liability Company (FZ-LLC) in D3, the incorporator first needs to submit an application to the creative zone for provisional approval. Once the application is reviewed and approved, the incorporator must submit the required legal documents for company registration followed by signing of the lease, personnel sponsorship, and collection of the lease and finally the incorporator shall obtain customer confirmation letter and needs to do the settlement of payments.

The minimum share capital required for establishing a limited liability company in Dubai Design District is AED 50,000.

The license fee in Dubai Design District (D3) is AED 15,010, along with AED 3,510 as one-time registration fee. The license fee may vary depending upon the type of segment and activity opted by the company.

The cost of office space in Dubai Design District varies depending on the type of office and the view one is choosing. In general, the cost ranges between AED 110 per sq. ft. to AED 165 per sq. ft.

Yes, there is a deposit amount for office space in Dubai Design District, and is normally equal to 3 months' rent.

Phase 1 of Dubai Healthcare City deals with health and medical education.

Phase 2 of Dubai Healthcare City is an expansion of the earlier phase that enters into wellness to complete the cycle of care. It is built with an aim of delivering and blending the benefits of tourism with medical tourism.

The duration of medical tourist visa in Dubai is 3 months.

Yes, a medical tourist visa in Dubai can be renewed up to two times.

Centre for Healthcare Planning and Quality (CPQ) is an independent body in Dubai established in 2004. This regulatory body is responsible for licensing healthcare providers in order to maintain the best practices and deliver healthcare benefits effectively and efficiently.

Obtaining a license to operate in DHCC involves four steps:

• Submission of initial and essential documents (application, CV, business plan, passport and visa)
• After rigorous review process, a provisional approval letter will be issued that states the rules, regulations and restrictions
• The healthcare operators will build the premises designs keeping the guidelines provided by based on the International Healthcare Standards, approved by Dubai Healthcare City Authority – Regulatory (DHCR)
• DHCR would conduct awareness sessions. Once the requirements are met, a clinical operating license is issued

Yes, both these licenses can be obtained online.

No, Dubai Healthcare City doesn’t permit to carry out any manufacturing activity.

The minimum paid-up capital required for setting up a hospital in Dubai Healthcare City is AED 3,00,000.

Apart from the core services, the additional services in Dubai Healthcare City include:

• Visa application processing
• The Emirate Medical Fitness Centre
• Government Services
• Professional Licenses

No, you can’t. Dubai Healthcare City provides licenses only for new incorporation, and branch of a new or existing company.

Once the documents and fee are cleared, it takes only 48 hours to obtain a license in Dubai Healthcare City.

A commercial license in Dubai Healthcare City is valid for one year.

Dubai Healthcare City Authority (DHCA), is a governing body providing clinical governance with Dubai Healthcare City. It aims at establishing an ultimate healthcare destination.

Masaar is an e-service portal that is in line with SMART Dubai Initiatives to provide a wide spectrum of services. It helps in establishing start-ups, healthcare professionals, clinical licensing, etc.

DIFCA stands for Dubai International Financial Centre Authority that is responsible to control the strategic, overall development of Dubai International Financial Centre. Moreover, it has the authority of setting the rules and regulations for the centre.

Dubai Financial Services Authority (DFSA) issues a license to operate in DIFC.

DIFC is located at Sheikh Zayed Road. The centre is close to major hubs like Dubai International Airport (DXB), Jebel Ali Free Zone, Dubai Internet City and Dubai Media Centre.

DIFC has two divisions: DIFC Authority and DIFC Properties. DIFC Authority is responsible for business development and management. DIFC Properties takes care of the real estate sector.

Business hours for Registry Service are: 3pm - 4:30pm (Sun-Thu), 9am - 12:30pm (Fri).

Business hours for Government Service are: 8am - 3pm (Mon-Thu), 9am - 3pm (Sunday).

Company formation in DIFC involves the following steps:

• Get in touch with the Relationship Management team of DIFC to initiate the application process
• Once the application is done, you will be moved to the online registration process
• Upon submitting the essential documents, a Certificate of Incorporation and Commercial License will be issued

Cash payment is accepted only up to AED 20,000. Cheques issued only in AED are accepted. These must be addressed to DIFC Investments LLC – Collection Account. Payment by credit card is also an option, with a 2.5% service charge included. Payments by wire transfer is also accepted.

Dubai Financial Services Authority (DFSA) supervises 629 entities, 490 authorized firms, 121 DNFBPS, 16 regulated auditors, and 2 authorized market institutions.

DIFC holds almost 2000 active registered companies.

The primary sectors in DIFC include Banking and Brokerage Services, Wealth Management, Islamic Finance, Ancillary Services and Capital Markets.

Yes, you can easily get your business license through the DIFC portal.

The services offered by the DIFC portal include company registration & licensing, employee services, accessing company profile, change of address, online payment, etc.

GIFT stands for Gujarat International Finance Tech-City. It is the first smart city of India. In 2017, GIFT partnered with DIFC, with an aim to exchange views on finance and tech domain, and to boost the finance and banking industry in India.

DIFC-LCIA stands for Dubai International Financial Centre and the London Court of International Arbitration. The DIFC has got its own legal system approved by DIFC courts and also applies the common law.

The main objective of DIFC-LCIA is to promote and administer a flexible arbitration system and other alternative dispute resolution (ADR) proceedings for doing business in the Gulf and MENA region.

Master Community Declaration (MCD) is a document that states the rights and restrictions that a DIFC Investment LLC holds towards its owners. It is a blend of international and local best practices to ensure a transparent, and well-maintained financial community.

DIFC Wills Centre is a blended initiative made by the Government of Dubai and DIFC Dispute Resolution Authority that provides an opportunity to register for different types of will like Guardianship Will, Free Zone Company Will, Financial Assets Will and Full Will.

DFM stands for Dubai Financial Market. It is the stock exchange located in Dubai.

The UAE holds three stock exchanges: Dubai Financial Market (DFM), Abu Dhabi Securities Exchange (ADX) and NASDAQ Dubai.

DFSA Fin-Tech is a blend of financial services, business models with innovation and technology. The blend of finance with technology would help in establishing efficient financial markets to provide better business solutions backed by technology.

ITL stands for Innovation Testing License. This license helps fin-tech firms under Dubai Financial Services Authority (DFSA) to test and experiment with new products, services, and business models.

In order to obtain an ITL license, the following would suffice:

• The firm must involve innovation and use financial technology to carry out their business activities
• The firm must deal with business activities that involve financial services

To get an ITL license, the following documents are required:

• ITL application form
• A test plan that describes the business model in a clear way
• Service details that the model would be tested and be ready for regulation

The maximum income tax rate in Botswana is 25%.

The maximum VAT rate in Botswana is 10%.

GAAP stands for Generally Accepted Accounting Principles and is a collation of accounting rules and standards that are followed globally.

ACCA stands for Association of Certified Chartered Accountants. It was founded in the year 1904, with an aim of developing a body to accelerate the accounting profession for a better and transparent society.

Seniority is a blend of knowledge, experience, along with industry exposure. Experienced business experts will be able to guide your company in a much better way compared to a fresher.

Companies having a turnover of more than BWP 10 million, or possessing assets more than BWP 5 million, need to necessarily undergo an annual audit.

MyBICA is an online platform developed by Botswana Institute of Chartered Accountant (BICA) to introduce online membership with the aim of increasing the online traffic in this profession.

A license is an agreement made between a licensor and a licensee. The licensor grants partial or full rights to the license, and violation of any right would lead to payment of a fee.

An IP owner possesses two types of rights: moral right and economic right. Moral right is the power that whether the owner wants to disclose his/her intangible assets to the public or not. On the other hand, an economic right gives one the power to add a commercial value to these intangible assets by involving them in the daily business activities.

Violation of any exclusive rights held by a copywriter is called copy infringement.

WIPO stands for World Intellectual Property Organization. This governing body was established in the year 1967, which entered force into 1970. Its main objective is to promote intellectual property protection through cooperation between nations.

COSBOTS stands for Copyright Society of Botswana. It is a non-profit organization and is managed under the law of Botswana. It simplifies the process of copyrights through its collective management of copyright.

An intellectual property license in Botswana has to be renewed every 10 years.

GNFPO stands for Government Non-Profit Organizations. It deals with social, educational, professional, religious, health or any other not-for-profit purpose.

CICA stands for Canadian Institute of Chartered Accountants, is a non-profit organization which was established by the Parliament of Canada in the year 1902.

CPA handbooks are available in print form as well as electronic formats that can be easily downloaded.

The income tax in Canada ranges from 15% -29%.

When a business organization does not go under the audit process to review their financial statements, they prepare Notice to Reader (NTR) financial statement report. It is a financial compilation that offers no assurance on their financial statements.

Some of the trending accounting software includes FreshBooks, QuickBooks Online, Zoho Books, Saga 50cloud, and Saga Business Cloud Accounting.

Dubai Car and Automotive City Free Zone is located in Ras Al Khor, Dubai.

Businesses in DUCAMZ are involved in trading and re-exporting of used cars, agricultural machinery, heavy vehicles, bikes, jet skis, and other recreational vehicles.

Both these types of vehicles are sold in DUCAMZ:

• Left-hand drive vehicles
• Right-hand drive vehicles

The left-hand drive vehicles are exported solely to the local markets whereas the right-hand drive vehicles are exported to other countries as well.

DUCAMZ exports its right-hand drive vehicles to India, Pakistan, Yemen, Afghanistan, and few other African countries.

DUCAMZ offers various facilities for lease, including office space, warehouses, showrooms and workshops.

A minimum share capital amount of AED 100,000 is required for setting up a Free Zone Company in DUCAMZ.

Minimum 2 and maximum 5 shareholders are permitted in a Free Zone Company in DUCAMZ.

No, it is not mandatory to have a local partner to form a Free Zone Company in DUCAMZ.

The license fee for Free Zone Company formation in DUCAMZ is AED 5,500 per year.

The registration fee for a Free Zone Company is a one-time amount of AED 15,000.

The registration fee for setting up a branch office in DUCAMZ is AED 5,000.

No minimum capital is required for setting up a Branch Office in DUCAMZ.

The license fee for a branch office in DUCAMZ is AED 5,500 per year.

ISED an abbreviation for Innovation, Science, and Economic Development. It is a department of Government of Canada that helps in building a strong Canadian economy by focusing on innovation improvement and various other segments.

The following are not covered under Design Law:

• Any design that opposes public moral values
• The industrial design of integrated circuits
• Fashion
• Industrial designs that include flag or emblem of any country

CIPO stands for Canadian Intellectual Property Office.

Yes, with certain obligations, a trademark can be sold or licensed to a third party in Canada.

In certain cases, an opposition may last for more than two years.

After the payment of registration fees, the certificate of trademark registration in Canada can be obtained in between one and two weeks.

Canadian trademark registration fee comes around $450. $250 while filing an application, and $200 towards the end of the process upon registration.

No, copyright is not applicable to the protection of domain names.

No, a publication is not necessary to obtain copyright protection.

A copyright protection in Canada holds a duration of 50 years.

The registration process can be done online, via fax or mail.

Anyone can register a company in Australia. The only conditions are: the company must have at least one Australian resident director and a physical Australian address for the registered office of the company.

For Directors and Secretaries: Full name, residential address, and date and place of birth of each member.

For Shareholders: Full name, residential address, and number of shares acquired in the company.

General Information: The complete address of the registered office and principal place of the business.

Most applications are registered within 5 minutes as long as there are no errors and is not flagged by ASIC for manual review. Once your company is officially registered with ASIC, you will receive all certification and company documentation within 20 minutes.

An Australian Business Number (ABN) is a unique 11-digit number that identifies your business to the government and community. An ABN doesn't replace your tax file number, but it is used for various tax and other business purposes.

An Australian Company Number (ACN) is a unique 9-digit number is issued by the Australian Securities and Investment Commission (ASIC) purely for companies unlike ABN which is issued for all type of businesses.

Company registration cost in Australia varies depending on the type of company. But before registering a company, one must have an Australian Business Number (ABN), without which you cannot legally run a business. Obtaining ABN is free of cost. The next step is to register a business name, which costs $36 for one year and $84 for three years. The total registration fees include:

This is a number that Australian Securities and Investment Commission (ASIC) gives you and it is sent directly to the Registered Office within about 10 days of incorporation. It is like a pin number for your company and must be noted when you lodge some paper documents with ASIC.

A proprietary company is not required to have a secretary. If it does, they must live in Australia. A public company must have at least one secretary. They must live in Australia.

Public companies must hold an AGM at least once each calendar year in addition to other general meetings, except if they have only one member. A public company’s AGMs must be held within five months after the end of its financial year.

Goods and Services Tax (GST) in Australia is charged on each transaction in the supply chain, but registered businesses receive a credit for GST paid on purchases. As a result, GST effectively becomes a 10% tax on the retail price of goods and services.

No. In order for a business in Australia to charge GST, they must be registered with the Australian Taxation Office (ATO).

According to the Australian Taxation Office (ATO), a failure to lodge (FTL) penalty may be applied if you haven’t submitted the returns on the specified date. The penalties are calculated on the basis of the size of the entity.

For example, a small business entity is penalized by one penalty unit for each 28-day period the statement is overdue. If you are 42 days overdue, the penalty is calculated as 1.5 penalty units. For medium-sized entities, the penalty rate is multiplied by two. For large entities with a turnover higher than $20 million per year, the penalty rate is multiplied by five.

It is a tax paid by an employer on certain benefits that are provided to an employee, including the employee’s family and other associates. If you are a director of a company or trust, the benefits you receive may be subject to FBT.

For standard patent applications, examination process is a compulsory element and must be conducted if you want a patent to be granted on your application. A request for examination must be made within 5 years of filing your application.

No. It is only possible to convert an innovation patent application to a standard patent application prior to acceptance which takes approximately 4 to 8 weeks from filing.

Registered designs can be made enforceable by certification, and carry exclusive rights. Published designs do not give any rights.

The examination includes a search of prior art and checks against similar products/designs. If your design is found to be new and distinctive you will receive a certificate of examination.

One cannot register a copyright in Australia. Copyright protection is free and automatic from the moment your work is on paper, or disk, or otherwise put into “material form”.

Incorporation costs amount to over QAR 30,000 in the first year. Annual company costs amount to over QAR 5,000 from the second year onwards. The average fee for Qatar engagement is above QAR 100,000, including the company's incorporation, bank account, office address, and director residency.

The tax rate for oil and gas companies in Qatar is 35%.

A time gap of 3 years is provided to companies in Qatar to carry forward their business loses.

The different types of taxes exempted in Qatar include the following:

• capital duty
•  property tax
•  transfer tax
• stamp tax

Resident companies in Qatar must file their tax-return within 4 months after the end of the accounting year.

There are three arbitration centers in Qatar namely, Qatar International Center for Arbitration, QTF Tribunal, and arbitration centers in Europe or North America.

DTA refers to Double Taxation Agreement. It is a tax treaty that is signed between two or more countries to avoid double taxation from the source and residence country.

No, two activities cannot be carried out under one license in Qatar.

Till date, 58 Double Taxation Agreements (DTAs) have been signed by Qatar.

The corporate tax rate in Georgia is 15%.

The personal tax rate in Georgia is 20%.

The import tax rate in Georgia ranges between 0-12%.

The growing areas of investment in Georgia include Energy, Hospitality and Real Estate, Manufacturing, Regional Logistic Hub, Agriculture & Food Processing, and Business Process Outsourcing.

Georgia’s Value Added Tax is locally known as Damatebuli Ghirebulebis Gadasakhad.

DTA refers to Double Taxation Agreement. It is a tax treaty that is signed between two or more countries to avoid double taxation from the source and residence country.

The local currency of Georgia is known as Lari (GEL).

Georgian law now provides a protection for literature, art, science, and music works for a span of 50 years.

The National Intellectual Property Center of Georgia is known as Sakpatenti. It is an active partner of the United States and provides education to the public on IP Services.

Violation of any exclusive rights held by a copyright holder is called copy infringement.

The different types of penalties for intellectual property right (IPR) infringement include civil, criminal and administrative penalties.

International Patent Classification is a patent classification system that was established by the Strasbourg Agreement 1971 that provides a hierarchal system for classification of patents and utility models based on the technology that they involve. This system is used by more than 100 countries.

The fee for registering a Free Zone Limited Liability Company in DCCA is AED 3,500.

The fee for registering a branch in DCCA is AED 3,500.

Yes, a branch in DCCA can be converted into a Free Zone Limited Liability Company by paying a fee of AED 3,500.

Yes, an incorporator can increase or decrease the share capital in DCCA by paying an amount of AED 3,000.

In DCCA, a license is valid for 1 year, and can be renewed annually.

The cancellation fee of a license in DCCA is AED 1,500.

The re-issuance of a license in DCCA costs about AED 1,000.

DCCA operates 9 free zones:

• Dubai Internet City
• Dubai Outsource City
• Dubai Media City
• Dubai Studio City
• Dubai Production City
• Dubai Knowledge Park
• Dubai Science Park
• Dubai Design District
• Dubai International Academic City

DCCA guarantees 50 years of personal, income and corporate tax exemption.

DCCA is responsible for promoting Dubai as one of the world’s most attractive cities in terms of creative business by providing the regulation and by developing various policies and programmes in order to foster the cluster development.

The duration of a full-term patent in Ireland is 20 years, and for short-term is 10 years.

The duration before expiry of a publication in Ireland is 18 months.

The term ‘Patent Pending’ is particularly used on products to alert competitors stating that an application has been made to protect the invention.

The methods of payment accepted by the Patent Office in Ireland are by electronic means that includes online, electronic funds transfer (EFT).

It is a tax incentive tool that encourages innovation and gives the flexibility of a low rate corporation tax on profits made on IP assets.

EUIPO stands for European Union Intellectual Property Office.

The corporate tax rate in Ireland is 12.5%.

PAYE refers to Pay-As-You-Earn. It ensures an amount that an individual needs to pay as tax as a part based on their earning.

The different types of tax residency include ordinarily resident, domiciled and non-domiciled.

The different types of insurance available in Ireland include unclaimed life insurance policies, Motor Insurance, Personal Injuries Assessment, Insurance Protection on mortgages, and Private Health Insurance.

The national minimum wage in Ireland is €9.55/hour.

KEEP stands for Key Employment Engagement Programme. This is an initiative taken in order to facilitate the use of share-based remunerations by SMEs, with an aim to attract employee.

The standard Value Addde Tax (VAT) rate in Tanzania is 18%.

Tanzania doesn’t levy any export duties.

The income tax rate for a resident company in Tanzania is 30%.

The income tax rate for a non-resident company in Tanzania is 5%.

The filing of VAT return in Tanzania is supposed to happen on a monthly basis.

The duration of tax claim in Tanzania is 6 months.

The duration of copyright protection in Tanzania is the life of the author and fifty years after his/her death.

In Tanzania, an industrial design is valid for 25 years.

A patent document is a legal document submitted by an individual to hold a legal right on his/her invention. It is a pending document at the patent office that awaits the grant of the patent.

A patent is granted to an inventor for his invention. When it is granted, he becomes the sole owner of the invention that can be bought, sold, rent or hired.

To get an Inland Revenue Department (IRD) number in New Zealand, the following steps are to be followed:

• Complete an IRD application form
• Provide ID proof
• If any of your documents are in another name, you’ll also need to bring an original and a clear photocopy of a document proving your name change
• Verify your documents with any of the agents in NZ and they will forward your request to the Inland revenue
• You’ll get an IRD number within 8 to 10 working days

To start a Limited Liability Company in NZ, an applicant requires a minimum of 1 director.

There is no minimum share capital requirement for setting up a business in NZ.

No, it is not necessary to be a resident of NZ to set up a company in NZ. However, one needs to appoint a resident to the role of a director in the company.

It is a document issued by the NZ Company’s registrar who displays important details such as (i) company number, (ii) registered address, (iii) shareholders and director’s details, and (iv) current status.

To register a company in New Zealand, an applicant needs to pay NZ$150 to the Registrar of Companies.

The law does not require every NZ registered company to appoint a company secretary, however, appointment of company secretary by the Board of Directors is an important element of the governance structure.

FBT (or fringe benefit tax) is tax paid by a company or employer on non-cash benefits paid to employees. This includes shareholder employees. The usual fringe benefits are cars, low interest loans and the personal use of business assets. It is payable quarterly or annually for some employers.

Resident Withholding Tax (RWT) is the tax deducted on interest paid to New Zealand tax residents on their deposit accounts.

If your business is at, or will reach, the $60,000 threshold, then yes – you must register for GST in New Zealand.

It is a voluntary business-based savings initiative in NZ with many membership benefits. If a person is working, then he/she can contribute automatically from the pay. A contribution from the employer as well as the Government is also received.

No. In New Zealand, there is no system of registering a copyright work.

It depends on the type of copyright work, but generally speaking 16 years for works that have been put into production, and 50 years from the death of the author for other works.

The Intellectual Property Office of New Zealand (IPONZ) examines the application for a month and then communicates the results.

No, unfortunately once your trademark application is submitted, the fees are non-refundable. It is recommended to prepare thoroughly before submitting an application.

Dubai Gold and Diamond Park (DGDP) is located close to Dubai International Airport. It is an extension to Jebel Ali Free Zone.

Every year, about $19 billion worth of gold is traded in Dubai.

The volume of gold exported by the UAE is approximately 287 tonnes every year.

World Gold Council (WGC) is a management body that looks into market and development of gold industry worldwide. It deals with every single corner that comes into consideration of gold industry starting from mining to investments.

The commercial spaces offered in Dubai Gold and Diamond Park include retailing, manufacturing and office spaces.

Emaar Properties is one of the leading companies in Dubai that develops master-plan communities and have contributed a lot to the real estate sector in Dubai.

The varieties of jewellery in Dubai Gold and Diamond Park include different tastes of regions like Arabic, Asian, Western, European, etc.

The additional services provided by Dubai Gold and Diamond Park include transportation services, baby changing room, baby stroller and wheelchair, prayer rooms for men and women, dining hall, etc.

Dubai Gold and Jewellery Group (DGJG) and International Gemological Institute (IGI) set the standards for jewellery available in DGDP.

The space specifications for business in Dubai Gold and Diamond Park are:

• For Retail: 1, 000 - 7,000 square feet
• For Office: 500 - 5,000 square feet
• For Manufacturing: 333 - 1,900 square feet

There is no corporate tax for setting up a business in Dubai Gold and Diamond Park free zone.

The headquarters of Dubai Gold and Diamond Park is located in Sheikh Zayed Road, Dubai.

The business hours in Dubai Gold and Diamond Park are:

• Sunday to Thursday: 10 AM – 10 PM
• Friday: 4PM – 10PM

In Dubai Gold and Diamond Park, commercial space leasing is available for a period of 1-5 years.

The minimum capital required to set up a business in Dubai Gold and Diamond Park is AED 1,50,000.

There are about 350 companies currently operating in Dubai Gold and Diamond Park.

DP World FZE is the parent company under which the Economic Zones World operates as a subsidiary. The role of the company is to operate and manage the seaports and airports and to lease port equipment.

Currently, there are 3 free zones operating in Economic Zones World: Jebel Ali Free Zone, Dubai TechnoPark and Dubai Auto Zone.

Economic Zones World offers all the privileges of a free zone, such as 100% tax exemption, 100% foreign ownership, 100% repatriation of capitals and profits, 100% freedom for carrying out multiple businesses, minimum renewal fee, the flexibility of property ownership, etc.

Dubai Industrial City is suitable for multiple businesses sectors like food & beverage, metal, transportation, logistics, machinery, chemicals, etc.

TECOM Group, also known as TECOM Investments, is an industry-developer in Dubai that aims to establish business communities to make a significant contribution to the emirate’s GDP.

Dubai Industrial City houses more than 700 companies.

SCATA stands for Supply Chain and Transport Award.

Arabic is the official language of the UAE. Apart from that, English, Persian and Urdu are widely spoken.

Yes, Dubai Industrial City allows manufacturing activities. It holds nearly 320 manufacturing units.

Dubai Industrial City is located adjacent to Al Maktoum International Airport, and almost 28 km far from Jebel Ali Free Zone.

Industrial license in Dubai is issued by Dubai Department of Economic Development (DED).

Yes, to obtain an industrial license, one needs special approvals from the Dubai Municipality (DM).

An industrial license in Dubai covers the following manufacturing activities under it:

• Oil and Petroleum
• Metallurgical Engineering
• Steel Manufacturing
• Mats and Rugs Manufacturing
• Aluminium Manufacturing
• Gold and Precious Stones Manufacturing

Yes, Dubai Industrial City provides warehousing facilities. It has almost 7 million square feet of space dedicated only to warehouses.

Dubai Industrial City warehousing facilities are designed for cold, chemical, light and general storages.

Apart from its core facilities, the additional amenities in Dubai Industrial City include rest facilities for drivers, emergency medical facilities, parking area, unloading area, prayer areas, etc.

Dubai Industrial Strategy 2030 aims at developing the core industries along with the sub-sectors of the emirate. This would increase the GDP of Dubai by Dh 165 billion. This strategy aims to build Dubai as an industrial giant, contributing the maximum to the industrial sector and world’s economy.

The sectors targeted under Dubai Industrial Strategy are Trade, Logistics, Financial Services and Tourism.

Dubai Industrial Strategy covers 18 industrial areas.

The sub-sectors under DIS 2030 are Aerospace, Maritime, Pharmaceutical, Aluminium & Fabricated Metals, FMCG, Machinery, and Equipment.

Dubai Industrial City offers property options for commercial, residential, hotel and industrial sectors.

The different types of hotels that can operate in Dubai Industrial City include hotel apartments, mid-range business hotels, luxury hotels.

Dubai Industrial City provides industrial areas ranging between 2,50,000-3,00,000 square feet.

Dubai Wholesale City is a platform developed by TECOM Investments to provide a wide platform for retailers, wholesalers, traders who carry wholesale needs. It has been developed to ease out and cater to the needs of economic expansion.

The minimum paid-up capital required to incorporate a Free Zone Limited Liability Company in Dubai International Academic City is AED 50,000.

For incorporating a branch in Dubai International Academic City, no minimum paid-up capital is required.

Dubai International Academic City offers land for various purposes such as for building educational institutions, hotels, residential apartments, student accommodation and retail.

Dubai International Academic City permits activities like higher education, online university, educational service, non-academic service, freelancing, branch school, boarding school, and general services.

Dubai Internet City is a tech-hub built by TECOM Investments and is home to over 1600 businesses of all size. It also includes many Fortune 500 companies in its premises.

The license registration fee in Dubai Internet City is AED 3,520.

Dubai Internet City offers 5 different segments under service license, the cost per segment is AED 15,020 for the first year and for the second year as well.

Yes, a minimum share capital of AED 50,000 must be deposited to a Dubai Internet City (DIC) bank account or to the company’s bank account prior to the release of the company’s license.

The starting cost of exclusive desk rental in Dubai Internet City is AED 35,000.

The starting cost of executive furnished office in Dubai Internet City is AED 96,000.

The starting cost of unfurnished commercial office in Dubai Internet City is AED 190/sq. ft.

An exclusive desk rental in Dubai Internet City calls for at least 2 visas.

An executive furnished office in Dubai Internet City requires a minimum of 4 visas.

To set up a business in an unfurnished commercial office in Dubai Internet City, 1 visa per 80 sq. ft. is required.

The office deposit for exclusive desk rental in Dubai Internet City is AED 5,000.

The office deposit for executive furnished office in Dubai Internet City is AED 10,000.

Yes, the office deposit in Dubai Internet City is refundable after the termination of the contract.

A residence visa in Dubai Internet City is valid for 3 years.

DLC offers 5 types of licenses:

• Logistics License
• Industrial License
• Trading License
• Service License
• Education license

The cost for getting a license in Dubai Logistics City varies depending upon the type of license one is willing to take. An approximate cost ranges between AED 9,375 to AED 18,750.

The minimum capital amount required to start a Free Zone Limited Liability Company in Dubai Logistics City is AED 300,000.

Dubai Logistics City has a pre-built warehouse facility, custom-built units for freight forwarders, and a separate lane for heavy vehicle movement.

The procedure for setting up a company in DLC is as follows:

• Filing an application to the Free Zone Authority for approval
• Submitting the required legal documents for business registration
• Submitting a business plan
• Acquiring a business license
• Paying the necessary fees

A logistic license is a type of license that enables the license holder to handle products and logistics services such as distribution, storage, inventory management and transportation, order management, forwarding, sorting, and clearing within UAE.

The standard corporate tax rate in the Czech Republic is 19%.

The corporate tax rate for investment funds in the Czech Republic is 5%.

The time limit to submit corporate income tax in the Czech Republic is 6 months.

The personal tax rate in the Czech Republic is 15%.

DTA refers to Double Taxation Agreement. It is a tax treaty that is signed between two or more countries to avoid double taxation from the source and residence country.

The minimum capital requirement for a Joint Stock Company in the Czech Republic is CZK 2 million.

Dubai Maritime City (DMC) is located in between Port Rashid and Dubai’s Dry Rock World.

The floor spaces provided by Dubai Media City are:

• For workshops: 2800-9515 sq. ft.
• For warehouse: 5490 sq. ft.
• For Shops: 694 sq. ft.

Dubai Media City covers an area of 2.49 million square feet.

More than 320 companies are registered under Dubai Maritime City.

The ship lift capacity in Dubai Maritime City ranges from 3000 to 6000 tons of load.

SR Plot refers to Ship Repair plots that are located for easy access to wet and dry berths in Dubai Maritime City. It also provides ship lift facilities and an access to open sea.

Dubai Maritime Sector Strategy is a strategy build by Dubai Maritime City with an aim to focus on local clustering and to boost Dubai Maritime City as world’s largest maritime centre.

Dubai Maritime City incorporates six districts, including the Industrial Precinct, the Academic Quarter, the Marina District, the Harbor Residence and the Maritime Centre.

The different types of companies that can be incorporated in Dubai Maritime City are Free Zone Establishment, Free Zone Company, and Branch Office.

The minimum capital required is:

• Free Zone Establishment: AED 1 million
• Free Zone Company: AED 500,000

For both types of companies, the minimum number of shareholders is 2, while the maximum is 5.

The different types of licenses available in Dubai Maritime City are:

• Maritime Services License
• Management License
• Education and Research License
• Yacht Manufacture
• Repair License

At present, 1500+ companies operate in Dubai Media City.

The different business segments operating in Dubai Media City are:

• Advertising and Communication
• Business Information
• Event Management
• Event Support Services
• Freelancing
• Media and Marketing Services
• Media Support Services
• Media Consultancy
• New Media
• Non-Profit Association

Dubai Media City offers 5 types of licenses:

• Business Information Services License
• Consultancy and Retail License
• Event Leisure License
• Media Marketing Services License
• New Media Support Service License

Dubai Media City promotes activities like broadcasting, publishing, advertising, public relations, research, music and post-production.

The minimum capital requirement for setting up a Free Zone Limited Liability Company in Dubai Media City is AED 50,000.

For setting up a Branch in Dubai Media City, there is no minimum capital requirement.

The types of changes one could request for in a license in Dubai Media City are:

• Change of company name
• Change of business activity within the business sector
• Additional business activity
• Change of address
• Change of director
• Change of manager

Yes, a branch can be converted into a Free Zone Limited Liability Company in Dubai Media City by paying the requisite amount of fees.

The Government Service Operations (GSO) department of TECOM is responsible for carrying out visa services and issuing visas in Dubai Media City.

The different types of trademarks are:

• Collective marks
• Certification marks
• Multi-class applications

A trademark in the Czech Republic is registered for a period of 10 years.

WIPO stands for World Intellectual Property Organization. This governing body was established in the year 1967, which entered force into 1970. Its main objective is to promote intellectual property protection through cooperation between nations.

Yes, a trademark can be transferred. It can also be assigned, licensed, or used as an object of a pledge.

A copyright doesn’t cover the following:

• Titles and Names
• Ideas
• Works by the government
• Works without facts
• Fashion designs

The corporate tax rate in Hong Kong is 16.5%.

There is no Value Added Tax (VAT) in Hong Kong.

There is no Goods and Services Tax (GST) in Hong Kong.

There is no sales tax in Hong Kong.

There is no real estate transfer tax in Hong Kong.

The mandatory sources of Generally Accepted Accounting Principles (GAAP) in Hong Kong are:

• Companies Ordinance
• Hong Kong Financial Reporting Standards (HKFSR)
• Listing Rules

The aim of the new Companies Ordinance in Hong Kong is to provide a state-of-the-art legal structure for the incorporation and operation of companies in the country. The new Companies Ordinance has 4 objectives:

• Enhance corporate governance
• Ensure better regulation
• Facilitate business
• Modernise the law

In Hong Kong, a Limited Liability Company can choose any date it wants for accounting year end.

Yes, it is possible to change the year-end date for a company in Hong Kong, from both an accountant and a tax perspective.

The main business sectors in DMCC include Agro, Energy, Financial Services to Gold & Diamond, and Base Metals.

No, you don’t. DMCC offers 100% foreign ownership.

The different types of licenses issued by DMCC include:

• Trade License
• Service License
• Industrial License

The different company structures in DMCC are:

• Limited Liability Company
• Branch
• Subsidiaries of a Local or Foreign Company

Yes, you are allowed to act as the partner of more than a company in DMCC.

Yes, a shareholder can act as an appointing officer in DMCC.

All companies, except branch offices, in DMCC should have a minimum of 1 director and can have a maximum of 6.

Certificate of incumbency is a company’s document that confirms the identity of shareholders, directors, and officers, and is issued by the Company Registrar. This certificate can be presented in instances when the authority of certain director must be confirmed in writing.

License renewal penalties in DMCC differ according to the number of days a renewal is delayed:

• Between 1-30 days: AED 2,520
• Between 31-60 days: AED 5,020
• Between 61-90 days: AED 7,520
• Above 90 days: Leads to termination by the authority

No, financial statements are not required while renewing a license in DMCC.

The minimum ground area size required for a license in DMCC is 500 square feet.

JLT refers to Jumeirah Lake Towers. It is one of the fastest growing free zones in the UAE.

The minimum capital requirement to establish a company in Jumeirah Lake Towers (JLT) is AED 50,000.

The cost of a license in Jumeirah Lake Towers (JLT) is AED 32,030 (exclusive of office rent).

The minimum duration to obtain a license in Jumeirah Lake Towers (JLT) is 20 days.

Jumeirah Lake Towers (JLT) free zone has merged with DMCC, and hence DMCC issues JLT license.

The minimum share capital required for setting up a company in Dubai Outsource City is AED 300,000.

The activities permitted in Dubai Outsource City are:

• Information technology management
• Operations support
• Customer care
• Property management services
• Transaction processing
• Hotels and leisure facilities
• Regional headquarters
• Document management

The approximate cost of setting up a business in Dubai Outsource City with a trade license is AED 9,375.

The cost of setting up a business in Dubai Outsource City with a service license varies according to the different segments under service sector. The approximate cost ranges between AED 9,375 to AED 18,750.

The cost of setting up a business in DOC with a commercial license varies according to the different segments under the commercial sector. The approximate cost ranges between AED 9,375 to AED 18,750.

In Dubai Outsource City, business registration and establishment is granted by Dubai Technology and Media Free Zone Authority (DTMFZA).

Applicants looking for IP protection of a standard patent must make an application to the Hong Kong SAR Patents Registry.

Copyright law encompasses certain exclusive rights known as restricted acts. These give a copyright holder the right to:

• Copy a work
• Issue copies of the work to the public
• Rent copies of the work to the public
• Make copies of the work available to the public by wire or wireless means
• Perform, show and play the work in public
• Broadcast the work by wireless or cable
• Adapt the work

The Director of Agriculture, Fisheries, and Conservation is the Registrar of Plant Variety Rights and considers applications for plant variety rights.

If there are no deficiencies or opposition, the whole procedure takes about 6 months.

Yes, if the name or address of the owner appears in the trademark, it can be altered.

Dubai South Free Zone supports a wide number of activities such as aviation, logistics, exhibition, commercial, humanitarian, residential and other related businesses.

The cost of a smart desk license in Dubai South Free Zone is AED 39,900.

The cost of a permanent smart desk license in Dubai South Free Zone is AED 54,900.

The cost of a smart office license in Dubai South Free Zone is AED 49,900.

The cost of a permanent smart office license in Dubai South Free Zone is AED 95,000.

Dubai South Authority is responsible for the incorporation and issuing of license of businesses in Dubai South Free Zone.

The cost of obtaining a trading license in Dubai South Free Zone is AED 20,000 for two consecutive years.

The cost for obtaining a service license in Dubai South Free Zone is AED 10,000 for two consecutive years.

The cost of obtaining a commercial license in Dubai South Free Zone is AED 10,000 for two consecutive years.

The annual rent for a Smart Desk in Dubai South Free Zone is about AED 16,900.

The annual rent for a Permanent Smart Desk in Dubai South Free Zone is around AED 31,900.

The annual rent for a Smart Office in Dubai South Free Zone is around AED 26,900.

The annual rent for a Permanent Smart Office in Dubai South Free Zone is approximately AED 72,000.

The annual rent for a Permanent Exclusive Office in Dubai South Free Zone is around AED 112,000.

Dubai Studio City (DSC) is located in between the busy E11 and E611 highways, Al Qudra Road, and is near the Dubai International Airport.

Dubai Studio City occupies an area of 22 million square feet.

Currently, Dubai Studio City houses more than 275 companies in its premises.

TECOM Group, also known as TECOM Investments, is an industry-developer that aims in establishing business communities to make a significant contribution to the emirate’s GDP.

The different types of companies that can be formed in Dubai Studio City are:

• Free Zone Limited Liability Company
• Branch Office of UAE or Foreign Company
• Freelancer

Dubai Studio City license permit offers Commercial Permit and Freelance Permit.

To initiate the process of establishing your company in Dubai Studio City, the first step includes the submission of an application for approval along with the copy of the essential documents required for registration. The next step is to sign the customer confirmation letter, making registration payment, signing the Memorandum and Articles of Association (MAA), and signing the license agreement. Once this is done you will be provided a business license.

The registration fees for business setup in Dubai Studio City is AED 3,500.

The core businesses in Dubai Studio City include TV/radio broadcast, animation, filmmaking and support activities, theme amusement, music, etc.

The minimum duration required to set up a business in Dubai Studio City is 2 weeks.

Dubai Creative Clusters Authority (DCCA) is a blend of 9 clusters which aims to support the emerging creativity and innovation. It is built to stretch the size of the creative pool and build Dubai as the world’s creative hub.

Yes, a company in Dubai Studio City is required to submit an annual audit.

Yes, various multi-national companies like YouTube, CNN, BBC, Reuters, etc. have their offices in Dubai Studio City.

A trade license to operate a business in Dubai Studio City can be obtained by paying AED 15,000.

Dubai TechnoPark free zone is an innovation centre which aims to cater to the need for local as well as foreign investors who are willing to invest in modern technology and infrastructure.

In a Limited Liability Company in Dubai TechnoPark free zone, a minimum of 2 and a maximum of 5 shareholders can participate.

The minimum share capital required for a Limited Liability Company in Dubai TechnoPark is AED 300,000.

There are 6 types of branch companies that can be formed in Dubai TechnoPark:

• Branch of a Free Zone Establishment (FZE)
• Branch of a Free Zone Company (FZCO)
• Branch of a Foreign Company
• Branch of a Limited Liability Company (LLC)
• Branch of a Sole Establishment Based in the Emirate of Dubai
• Branch of a Gulf Cooperation Council (GCC) Company

Dubai TechnoPark offers a wide number of facilities such as:

• The Technology Core, offering the landmark building, the boulevard, the campus core and the R&D core
• The Mixed Use, providing mega mall, retail outlets, showrooms, business-class hotels and office buildings
• The Industrial Zone, providing showrooms, hotels, and office buildings

Dubai TechnoPark issues the following types of licenses:

• Industrial Activities License
• Professional Activities License
• Trading Activities License

Dubai TechnoPark focuses on the following economic sectors:

• Water Resource Management
• Development of Alternative and Efficient Energy Resources
• Environmental Resource Management

Apart from innovation and infrastructure, Dubai TechnoPark focuses on the following sectors:

• Life Sciences
• Sustainable Industrial Development
• Information and Communication Technologies
• Socio-Economic Knowledge

The lease period of an office in Dubai TechnoPark is 1 year, but it is renewable.

The lease period of land in Dubai TechnoPark is 15 years, and it is renewable.

The annual license fee in Dubai TechnoPark is:

• For Trading and Industrial License: AED 5,500 up to 7 products from one group, AED 9,000 for up to 12 products from 2 groups
• For Service License: AED 8,000

The Malaysian Financial Reporting Standard (MFRS) is usually followed by a business that has a holding company which is supposed to prepare group consolidated accounts which are compliant with the financial reporting standards set by the Malaysian Accounting Standards Board (MASB).

The Goods and Services Tax (GST) rate in Malaysia is 6%.

The corporate income tax (CIT) for a resident company in Malaysia is 24%.

The Malaysian tax year runs from 1st January to 31st December.

30th June every year is the deadline for filing a tax return in Malaysia for a self-employed entity.

Malaysia has Double Taxation Avoidance Agreements (DTAs) with 79 countries, along with a Tax Information Exchange Agreement with Bermuda.

Any person can apply for a patent registration, either alone or jointly with another person. The word “person” here is just not limited to natural persons, and also includes a company.

A utility innovation is an exclusive right which is granted for a minor invention which does not require to satisfy the inventiveness test which is essentially required for a patent.

A utility innovation in Malaysia can be protected for 20 years from the date of filing.

Non-patentable inventions in Malaysia are:

• Discoveries, scientific theories, and mathematical methods
• Plant or animal varieties or essentially biological processes for the production of plants or animals, other than man-made living microorganisms, microbiological processes, and the products of such micro-organism processes
• Various schemes, rules or methods for practicing business
• Methods for the treatment of human or animal body by surgery or therapy

The non-registrable industrial designs in Malaysia are:

• A method or principle of construction
• The designs of products depending upon the appearance of another product which forms an integral part of the product
• A product that is different only by the immaterial details or features
• The features of an article that are dictated solely by function

Copyright Notification is a scheme handcrafted by the Nigerian Copyright Commission to enable creators of certain copyright works or persons who have acquired rights in these works to give notice of their copyright to the Nigerian Copyright Commission or notice of any transfer of right thereof.

To apply for copyright notification in Nigeria, these steps may be followed:

1. The applicant must form in line with the instructions provided on it, and ensure that the declaration therein is endorsed before a Commissioner for Oaths or Notary Public
2. The completed application form with required copies of the work, which the applicant is looking for notification should be returned to the Commission’s office and accompanied with the required documents and evidence of payment of Notification fee of N6,000 (Six Thousand Naira)
3. Upon receipt of the form, the Commission processes the same and issues applicant with a Notification Acknowledgement Certificate

Since the works of a public performer, though original, but are not fixed in a tangible medium as required by the law, such works are not eligible for copyright protection. However, the Nigerian Copyright Act recognizes such works as performers’ right and gives such performer the exclusive right to control with respect to his performance: the performing, recording, live broadcasting, reproducing in any material form, and adaptation of the performance. A performance here includes dramatic and musical performance and live performance of literary recital or rendition.

All patent applications are made in the prescribed form. The form should be accompanied with the following:

• A Power of Attorney (if made by an agent)
• CTC of priority application where applicable
• Copy of Patent Cooperation Treaty (PCT) international publication (where necessary)
• A declaration signed by the true inventor that his name and address be mentioned in the application
• Prescribed fee

STRAP stands for Strategic Action Plan Against Piracy. It is an initiative of the Copyright Commission which ensures an intensified fight against piracy and protects IP rights with the use of a hologram security device.

No. A patent which has been granted in Mauritius cannot be enforced in another country and hence it is effective only in the Republic of Mauritius.

The Patent Cooperation Treaty (PCT) provides a forum where an inventor can look out for protection of his rights in various countries.

A name or a designation which identifies and distinguishes an enterprise is known as a trade name.

According to the Mauritian context, a collective mark is defined as “any visible sign designated as such in the application for registration and is capable of distinguishing the origin or any other common characteristics, including the quality of goods and services, of different enterprises which use the sign under the control of the registered owner of the collective mark”.

Yes. Under the Mauritian law, a computer program can be protected as a copyright since it is considered as a forming part of the literary work under the Berne Convention.

The Intellectual Property Development Plan (IPDP) is assisted by the World Intellectual Property Organization (WIPO), and seeks to ensure that the organizations involved in IP enforcement, including the potential users as well as generators of IP, have the technical capacity and know-how to use IP as a tool to promote research, innovation, investment and economic growth.

It takes around 2 to 3 weeks to start a company in the Republic of Yemen.

The minimum shareholders required to set up a Limited Liability Company (LLC) in Yemen is 2 and the maximum limit is 30.

The minimum incorporation fee to start a business in Yemen is $1000.

It requires around 1 to 2 weeks for opening a corporate bank account in Yemen.

It takes 3 business days to conduct a trademark search in Yemen.

Yes, any interested party may oppose the application.

A patent in Yemen can be protected for 15 years.

The novelty requirement for a design in Yemen to be valid is for it to have a new shape.

No, there is no system for copyright registration in Switzerland. Copyright protection arises as soon as the work is created.

No, there is no protection as such, provided that work is completed by a human being.

Switzerland doesn’t follow the work-for-hire concept. Therefore, the copyright remains with the person who has created the work.

Yes, there is a joint ownership concept under the Swiss law, according to which a copyright belongs to all the authors jointly.

There are no structured formats to be followed for a copyright license. However, it is better to provide a written agreement for evidence purposes.

There are certain industries like energy and telecommunication, which have restrictions when it comes to full ownership. But otherwise, there is no compulsion on having a local partner in Russia.

It takes around 2-3 weeks to complete the process of company registration in Russia.

Depending on the type of activity your company will undertake, there are industries that require applying for special business licenses.

Yes, a Russian company must have a local address which must appear in the records of the Trade Register.

Patents, utility models, designs and trademarks are available in Russia. They can all be obtained from the Russian Patent Office (Rospatent).

All types of objects can be protected except for functional objects, architectural, industrial, hydro technical, etc. and unstable objects like liquids and gases.

On an average, if the application is flawless, the procedure from filing to granting lasts from 10 to 12 months. The issue of any office action extends the procedure for about 4 months.

The standard VAT rate in Switzerland is 7.7%, and applies to most goods and services in the country.

International Financial Reporting Standards (IFRS) is an international accounting framework for the preparation of public company financial statements, and is followed by most countries.

Yes, the Nigerian accounting standards are framed after due consideration of laws, customs, and the business culture of Nigeria.

Yes, TP regulations were released in Nigeria in October 2012.

Any conflict between Nigerian Accounting Standards and International Accounting Standards should be resolved in favour of the Nigerian standards.

The general corporate tax rate in Lithuania is 15%.

Land tax in Lithuania is levied by city and district councils. It includes only tax payments on land.

No, joint audit is not valid in Lithuania.

A taxpayer can contact the Department of Taxpayers Services to obtain a tax clearance certificate in Oman.

An additional tax at 1% per month has to be paid in case of delay in tax payment in Oman.

A Value Added Tax (VAT) shall probably be introduced in Oman from 2019.

It takes 4-5 working days to conduct a trademark search in Oman.

No, a trademark can be registered in Oman for all goods and services.

No, a patent search cannot be conducted in Oman.

It takes 2-4 months to register a copyright in Oman.

There is imprisonment for a period not exceeding 2 years and a fine not exceeding OMR 2000, or either of these two sentences, for penalizing infringers in Oman.

Business Setup Worldwide will assist you with offshore company registration in Belize.

The benefits of Belize offshore company registration are

• Nil or low corporate tax
• Business confidentiality
• Minimum reporting
• Instant company incorporation
• Special provisions for asset protection

The process involves selecting a business activity, obtaining necessary licenses and permits, registering with the Ministry of Commerce and Industry, and obtaining a Commercial Registration Certificate.

Companies can be registered as a limited liability company, joint venture, a branch office of a foreign company, or sole proprietorship.

The minimum requirements include having at least one shareholder and a minimum capital requirement, which varies depending on the type of company.

Qatar has no personal income tax, and companies are subject to a corporate tax rate of 10%. Certain industries may be eligible for exemptions or reduced tax rates.

Yes, foreign companies are required to have a local sponsor or agent to register in Qatar. The sponsor or agent will be responsible for obtaining necessary licenses and permits and may also provide other services such as office space and administrative support.

Companies that are registered and operate in Qatar are required to file a tax return annually.

Qatar's tax return filing deadline is generally March 31st of each year.

Yes, penalties for late filing or non-compliance with tax regulations may be imposed. Penalties can include fines, interest charges, and suspension of business activities.