Outlook on Company Formation in UAE

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Formation of a company is a process to incorporate a business and requires thorough knowledge of a country’s economy.

Ready to set up a business in UAE?

If yes, then considering this insightful decision, there are guidelines and a complete procedure to start a company in UAE.

Why UAE?

  • Income tax is not prevalent in the UAE
  • UAE has recently allowed 100% ownership for Foreign Direct Investment
  • UAE offers less compliance in comparison with other countries.
  • It is home to multiple free zones which have diverse benefits for foreign investors.
  • UAE is a technology-driven state with quality infrastructure.
  • Ease of transportation helps in reduced travelling time.
  • Dubai airport is flooded with tourists and investors to reserve a spot in its economy as its geographical location has positive benefits.
  • Immense support of UAE government along with strict jurisdiction ensures safe and sound living.

Yes, UAE is the strongest performer in overall MENA region and offers a series of benefits like multiple types of Visa’s making it easy to set up a business.

Types of company formation in the UAE

Mainland Company:
A legal entity under the Dubai Economic Department (DED) also referred to as an onshore company.
UAE national holds 51% shareholding in case of such companies depending on the type of activities.

Free zone Company:
Free zones are favoured for business operations as they allow 100% foreign ownership and also offers a variety of trading benefits. There are around 45 free zones in the UAE.

Offshore Company:
A company with no physical location and is owned by individuals and corporates and facilitates global trading. Offers enough flexibility and enhances the movement of wealth.

Prerequisites for company formation:

  • A strategic plan including the type of economic activity and its implications in the country will be a necessary step in business formation.
  • Hiring a local firm for incorporation and other financial services to avoid errors and penalties.
  • Obtaining required documents and getting a license for incorporation.
  • Renting/Buying an office space and starting the company officially after completion of legal requirements.

What is our role as a business setup consultant?

We cover the whole process of company formation including the following services –

  • Incorporation of the company with all the legal documents
  • Visa process for the investors
  • Support in leasing the office space and warehouses.
  • Guidance in registering the goods with the concerned authority.
  • Assistance in opening bank accounts.

We ensure the satisfaction of our clients and delivering good quality work is our utmost priority.

 

Please feel free to reach out to us at contact@choicepeers.com for further information and initiate the process to incorporate your company in UAE.

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