The whole world consider Emirate as a favorite place to set up their business specially in Free Trade Zones because they are tax free and companies don't have to pay any taxes, no income tax, no corporate tax, no transfer tax, and also foreigners can have 100% ownership. However, outside the Free Zones Local Partner will hold 51% share & Foreign Partner will hold 49% share in the capital.
By Registration your company you can obtain relevant visa, bank account, check and all other facilities to benefit your business. In order to set up a company in the UAE, all types of business must be licensed to operate in the UAE. Depending on the type of company, the new companies are registered with ministries of economy / economic departments, local chambers of commerce or free trade zones.
The Advantages of setting up your business in Dubai
- Free-enterprise system
- Highly developed transport infrastructure
- State-of-the art telecommunications
- Sophisticated financial and services sector
- Top international exhibition and conference venue
- Competitive real-estate costs
- No corporate taxes, no income taxes
- Stable and reliable legal system
- Competitive labour costs (working hours per week: 46 – 48 h)
- No trade barriers, no foreign exchange controls
- Free Zones with 100-per-cent foreign ownership and control
- Cosmopolitan western lifestyle combining with traditions
- First-class hotels, hospitals, schools, shops, etc.
- Very low criminal rates
Advantages of setting up business in one of the Free Zones
• 100-per-cent foreign ownership and control
• Renewable guarantee of no taxation
• No customs duties
• Flexible investment options
• Low labour and wage cost
• Efficient transport and distribution facilities, state-of-the-art infrastructure
The procedures for establishing a business in a Free Trade Zone are simpler and can be completed in a short time. Applicants must first fill out a questionnaire from the relevant Free Zone Authority. Having submitted the questionnaire, the company is given a UAE license application, planning documents, and a consumer request for electricity. Provisional approval is given along with a specimen lease agreement. After the company representative and the authority have met and finalized details of the project, the actual documents, which will include company or personal details, are processed. Once a legal presence has been established in the Free Zone, the business will need to lease premises or land and acquire an UAE operating license from the FZA. Different types of licenses apply in the different types of free zone, however, in general companies with trade and industrial licenses can only conduct business within the Free Zone or abroad. To sell their products in the UAE, a UAE official agent is required. Other types of UAE licenses available are service licenses (e.g. banking, insurance, air shipment etc) and national industrial licenses. For the former the services offered must be the same as those stipulated in the parent company’s license in the UAE or abroad. The share capital of a company applying for a national industrial license must be at least 51 per cent GCC and 40 per cent of the sale value of the product must be value-added. Licenses must be renewed every year.
In this website we help our clients by providing useful information about setting up their business in order to save time and money.
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