Business Setup Services in Dubai/ company setup in Dubai
Dubai / UAE MARKET
Dubai/ UAE is the Top leading and actual regional trading hub
for A to Z Business; it not only offers access to a market of outstanding potential
for overseas companies but also offers Each and all business. Among its key
characteristics are:
·
A growing market or
Developed Top Market– Dubai’s imports & export have more than doubled since
1992; regional best economic growth and liberalization is set to boost demand;
call 00447774715600 24/7 for your
required details
·
A prosperous market –
strategic location at the heart of one of the world’s richest regions;
·
A diversified market –
wide import requirements; opportunities for suppliers of most products;
·
An accessible market –
served by more than 170 shipping lines and 86 airlines; an open market – no
exchange controls, quotas or trade barriers. www.dubaibusinesskey.com
THE BUSINESS
ENVIRONMENT
UAE offers business sector all the advantages of a highly
developed economy. The infrastructure and services match the highest
international standards, facilitating efficiency, quality and service. Among
the benefits are:
·
Free enterprise
system.
·
Highly developed
transportation infrastructure
·
State-of-the-art
telecommunications
·
Top international
exhibitions and conference venue
·
High quality office
and residential accommodation.
·
Reliable power,
utilities etc.
·
First class hotels,
hospitals, schools, shops and Cosmopolitan lifestyle.
·
Inexpensive Workforce
and Easy Recruitment Procedures
Obviously, their economic development strategy has been
successful and the investment incentives, infrastructures, banking services,
insurances and political and social stability created an excellent business
climate.
UAE BUSINESS CLIMATE
Doing business in the UAE is very attractive due to the following
reasons
·
No personal income and
capital taxes
·
No corporate taxation
·
100% repatriation of
capital and profits
·
No currency
restrictions
·
Competitive import
duties (5% with many exemptions).
·
Modern efficient communication
facilities
·
Abundant and
inexpensive energy supply
·
Simple staff
recruitment procedures
·
Competitive freight
charges
·
Competitive real
estate costs.
·
Easy access to both
sea and airports.
We are Bari & Co Ltd
Advocate AND Consultants REGISTERED AGENT with the Dubai registry of RAK
Offshore and promoting UAE RAK companies (mainly used to open UAE bank
accounts, asset protection and for high confidentiality) (Offshore Company with Bank account No Need Travel) New Company,
Branch Company, Representative office, kindly review below information and let
us know if it interest you, we can arrange meeting to discuss it further.
NO CORPORATE TAX OR
PERSONAL TAX
WORKING HOURS AND
HOLIDAYS
The normal maximum working hours are eight per day or 48 per
week. However, these hours may be increased to nine daily for people working in
the retail trade, hotels, restaurants and other such establishments. Similarly,
daily working hours may be reduced for difficult or dangerous jobs. Many
businesses work on a two-shift system (for example, 8am – 1pm and 4pm – 7pm).
As in all Muslim countries, Friday is the weekly day of rest. Send email
to info@dubaibusinesskey.com
In practice, commercial and professional firms work 40-45 hours
a week and government ministries about 35. The weekend for office workers has
traditionally been Thursday afternoon and Friday (for government office
workers, Thursday and Friday), but a number of organizations have changed to a
five-day week with Friday and Saturday as the weekend. During the Muslim holy month
of Ramadan, normal working hours are reduced by two hours per day.
There are 10 days of public holidays (paid) in any year. The
employee’s annual leave is two days for every month if his service is more than
six months and less than a year. In every completed year of service after the
first, an employee is entitled to 30 days annual paid leave. This is in
addition to public holidays, maternity leave for women and sick leave.
We are Bari & Co Ltd
Advocate AND Consultants REGISTERED AGENT with the registry of RAK Offshore and
promoting RAK companies (mainly used to open UAE bank accounts, asset
protection and for high confidentiality) kindly review below information and
let us know if it interest you, we can
arrange meeting to discuss it further.
Advantages and Benefits
of RAK IBC:
* Low start-up Costs
* Absolute privacy,
confidentiality and protection of assets and information
* 100% foreign ownership
* Ability to maintain
bank accounts (Current Account) in the UAE
* Ability to issue
multiple classes of shares
* Limited liability
company
* Minimum one director
required
* Annual Audit Report
not required to be submitted to the Authority
* we are quick, the time
required for setting up an offshore company in RAK Offshore takes only 24hrs
and this effective set up is our success
* It does not require
the shareholder/director to be physically present in the UAE for incorporation
* No restriction on
nationalities
CURRENCY AND EXCHANGE
RATE
There are no exchange controls in the UAE and its currency, the
UAE Dirham, is freely convertible. The Dirham is linked to the US dollar, the
currency by which oil prices are measured. The exchange rate has remained at
AED 3.675 = US$ 1 since 1977.
LICENSING
The basic requirement for all business activity in UAE is one of
the following three categories of licenses:
·
Commercial licenses
covering all kinds of trading activity;
·
Professional licenses
covering professions, services, craftsmen and artisans;
·
Industrial licenses
for establishing industrial or manufacturing activity.
Some categories of businesses require approval from ministries
also: for example, banks and financial institutions from the Central Bank of
the UAE; manufacturing from the Ministry of Finance and Industry; and pharmaceutical
and medical products from the Ministry of Health; branch of foreign company
from the ministry of Economy and Commerce. More detailed procedures apply to
businesses engaged in oil or gas production and related industries.
OWNERSHIP REQUIREMENTS
Fifty-one per cent participation by UAE nationals is the general
requirement for all UAE established companies except:
·
Where the law requires
100% local ownership;
·
In the Free Trade
Zones where 100% foreign ownership is permitted;
·
In activities open to
100% AGCC ownership;
·
Where wholly owned
AGCC companies enter into partnership with UAE nationals;
·
In respect of foreign
companies registering branches or a representative office in Dubai;
·
In professional or
artisan companies where 100% foreign ownership is permitted.
PROCEDURES GOVERNING
THE OPERATIONS OF FOREIGN BUSINESS INTERESTS.
n practice, however, Dubai and the other emirates followed the
same general system, whereby foreign companies operated in one of three ways:
with a local sponsor, through a partnership with a UAE national or company, or
through a private limited company or public shareholding company incorporated
by Ruler’s decree. Since 1984, steps have been taken to introduce a codified
company’s law applicable throughout the UAE. Federal Law No. 8 of 1984, as
amended by Federal Law No. 13 of 1988 – the "Commercial Companies
Law" – and its by-laws have been issued. In broad terms the provisions of
the Law are as follows: The Federal Law stipulates a total local equity of not
less than 51% in any commercial company and defines seven categories of
business organization which can be established in the UAE. It sets out the
requirements in terms of shareholders, directors, minimum capital levels and
incorporation procedures. It further lays down provisions governing conversion,
merger and dissolution of companies.
LEGAL STRUCTURES FOR
BUSINESS
The Federal Law stipulates a total local equity of not less than
51% in any commercial company and defines seven categories of business
organization, which can be established in the UAE. It sets out the requirements
in terms of shareholders, directors, minimum capital levels and incorporation
procedures. The seven categories of business organization defined by the Law
are:
·
General Partnerships
·
Simple Limited Partnerships
·
Joint Participation
(Ventures)
·
Public Joint Stock
Companies
·
Private Joint Stock
Company
·
Limited Liability
Companies
·
Partnerships Limited
with Shares.
Out of these seven activities LLCs are more commonly used by the
foreign investors. Apart from these seven categories, FDIs are encouraged
through branches and Representative Offices of foreign companies and 100%
foreign owned Professional Firms.
100% foreign ownership is permitted in the UAE Free Zones.
Steps followed for a UAE Company Formation:
·
Licensing
·
Name & Activity
Approval
·
Company License
Registration with Article of Association (notarized in the court)
·
Assistance with
Funding of Paid up Capital for the New Company
·
Company Immigration /
Labor Approval
·
Arrangement of local
sponsor / Partners
·
Drafting of all Legal
Documents for the Company Registration. Assistance with Visas for Partners and
Employees
·
Assistance for
Business Offices
·
UAE
People can call on 00971 557573601 for Assistance in new Bank Account and UK
European 0044 777 4715600 Secure email qaiserbari@gmail.com
