Dubai Corporate Formation
Dubai Corporate Formation Service
Hotline: 86-755-82143512, Email:email@example.com
Dubai corporate formation is also called Dubai company setup, Dubai business setup ,Dubai company registration , Dubai company incorporation, Dubai business establishment and Dubai business registration. Dubai Company Setup,or Dubai Business Setup, Dubai Company Registration, is a new choice for investors worldwide to set up business and make profits. For starters, Dubai is one of the few places on Earth where starting a business is a tedious task. If you’re aiming to put one up in the city then here are some facts and terms you need to acquaint yourself with before you get started.
Types of Dubai Companies
There are 2 categories of business you can set up in Dubai Free Zones:
Free Zone Company – are business that 100% owned by the person who set it up. You don’t require a sponsor or an agent to act as liaison to manage the venture. There is no restriction tying you down.
Offshore Company – this type of Dubai company registration refers to a business operating outside its boundaries. Example, a business in Switzerland opens up a similar enterprise in UAE.
Benefits of Dubai Corporate Formation
1. For Dubai Free Zone Companies
1.2Can be formed by only one individual
1.3You can open bank account in Dubai
1.4100% Secrecy maintained
1.6Less Renewal Charges
1.7Can be liquidated anytime
1.8You can do international business
1.9Can do multiple activities
1.10Can hold Properties
2. For Dubai Offshore Companies
The offshore possibility has basically been set up to cater for companies who need to have a regional "tax relief-invoicing-facility" - There is no minimum capital required and also no need to set up an actual office facility. The off-shore regulations have been issued according to new international standards and companies will have to register minimum one director per company, keep financial records and issue an annual financial report audited by a professional auditing company approved by the free zone. Each company must hold annual general meetings (possible also by proxy) and in short perform and act as a normal company.
Basic requirements for Dubai corporate formation
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;
1.In the Free Trade Zones where 100% foreign ownership is permitted;
2.In activities open to 100% AGCC ownership;
3.Where wholly owned AGCC companies enter into partnership with UAE nationals;
4.In respect of foreign companies registering branches or a representative office in Dubai;
5.In professional or artisan companies where 100% foreign ownership is permitted.
Procedures of Dubai Corporate Formation
2.Name & Activity Approval
3.Company License Registration with Article of Association (notarised in the court)
4.Assisstance with Funding of Paid up Capital for the New Company
5.Company Immigration / Labour Approval
6.Arrangement of local sponsor / Partners
7.Drafting of all Legal Documents for the Company Registration. Assistance with Visas for Partners and Employees
8.Assistance for Business Offices
9.Assistance for new Bank Account.
Business Licensing for Dubai Corporate Formation
The basic requirement for all business activity in UAE is one of the following three categories of licenses:
1.Commercial licenses covering all kinds of trading activity;
2.Professional licenses covering professions, services, craftsmen and artisans;
3.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.
Bank Accounts Opening in Dubai
The bank account in Dubai can be opened for your offshore or onshore company registered in Dubai or other Emirates of UAE (corporate account) as well as for the physical person – resident or non-resident of UAE (private account).
It is also possible to open bank account for foreign offshore or onshore company, (registered outside of UAE). Details – see account for foreign company.
Currency and Exchange Rate in Dubai
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.
Tannet Sercice of Dubai Corporate Formation
Tannet Corporation Formation Service Center is set up in Hong Kong,specializing in business outsourcing service of company registration, product registration, trademark registration and many other relavant services. If you have further queries, don’t hesitate to contact Tannet anytime, anywhere by simply visiting Tannet’s website www.tannet-group.net , or calling Hong Kong hotline 852-27826888 or China hotline at 86-755-82143422 or emailing to firstname.lastname@example.org .
Tannet is pleased to keep you posted anytime and anywhere. Therefore, we launched a series of mobile applications (Apps) for you. You can download our Apps via the following link or contact with us.