The UAE, and in particular Dubai, has been garnering a lot of media attention recently and for good reason. Dubai enjoys a central location between Europe, Africa and Asia, making it as a prime business destination for a variety of sectors. A five-hour flight from Dubai in any direction, will not bring one to any cosmopolitan city anywhere near as advanced as this city. Dubai’s highly regulated environment adheres to international best practices, while operating with zero personal and corporate tax rates, as well as 100% capital repatriation with no currency restrictions. This type of financial freedom is seldom found in such a highly developed business environment, therefore one can find numerous opportunities provided in the UAE and across a wide range of sectors. Dubai is a leading commercial center with a state-of-the-art infrastructure and outstanding business environment. Among the many reasons to make a base in Dubai and invest in the city are:
• Our professionals have more than 15 years of experience in company formation and bank account opening formalities. During this time we have been able to develop an internal network of specialists that remains unparalleled.
• Our company is a member of many international fiscal planning organisations. We provide tailor-made advice to our clients, fully integrating the latest laws.
• We are one of the most competitive incorporation specialist firms and we are committed to providing you with the best service at the most reasonable price.
1. Free Zone Entities – allow 100% foreign ownership of the companies, and are exempt from corporate and personal taxes for a specified number of years. These entities are not licensed to do business outside of the free zones. They are most commonly used to import/re-export or for industrial and/or manufacturing companies. Many service related companies also use the free zones as their base of operations.
2. Onshore structures are the most misunderstood structures in the UAE. They are the ones which garner a lot of attention due to the compulsory rule of having to nominate a ‘local sponsor’. In essence this is the exact same requirement that other countries have, for example Switzerland. This is only to ensure that there is a liable person, in the country, whom is able to provide answers and direction in any event where the foreign owner is unable or unwilling to assist. The limited liability company is set up with the local sponsor owning 51% of the shares, however, under companies law, the profits of the corporation need not be distributed in proportion to the shareholder holdings. In essence the local sponsor is paid a yearly fixed fee to use his name while the resident director/owner and the foreign owner manage and distribute the profits at their will.
3. The professional license, allows 100% of the shares to be allocated in the name of a foreigner and the local sponsor is only designated a ‘local service agent’ role. This entitles him to a yearly fixed fee for his role as a sponsor in the trade license. The owner of the license must be educationally qualified in the professional service, which they intend to provide.
4. A representative office license is also available to the incorporator; this allows the company to engage in marketing and gathering information on behalf of a parent company. In this case, there is a requirement to have a local service agent, who is not, however obliged to be a shareholder of the company.
All companies registered in the UAE require a physical office, we are able to assist you in finding an office or to arrange for a lease for the incorporation process.