Want to Know On How to Set-Up Business Company in UAE? #OFWTraveller
Dubai is one of the most developed cities of United Arab Emirates (UAE) and has become a major tourist destination because of manmade islands, tallest building and amazing skyline. Dubai government has taken several measures to promote businessmen around the world and there are several companies who are successfully doing business in UAE. After winning Expo2020, Dubai is on the rise and many investors are interested in setting up companies in UAE.
In order to set up business in Dubai, one has to go through several legal procedures and the most important aspect is to choose a legal form. In UAE there are more than two ways to establish company, Limited Liability Company (LLC) and Free Zone Company. LLC is the most commonly used legal form for businesses in which foreign investor has to choose a local business partner. A local business partner must be UAE national and holds 51% shares of the company, but it doesn't mean that he is eligible to take all the company decision, he acts as a silent partner and the company owner has complete authority to run the company as he desired. A local business partner helps investor in performing several legal agreements and visa sponsorship. Now the next step is to register a trade name which can be done with Dubai Economic Department (DED).
There are several forms and legal documents required to register a company in Dubai, most foreign investors are unaware of the UAE laws because of which they often face difficulties in setting up company in UAE.
Now as far as Free Zone Company formation concerned, in Free Zone Company businessman can have 100% ownership and there are several Free Zone areas defined by UAE government. The major benefit of establishing company in Free Zone is that it's a Tax Free Zone, also rules and regulations for the business are different, then LLC Companies. Now all the legal matters are quite complicated for the people who don't have any understanding about UAE laws. Most foreign investors prefer to hire business consultants or acquire reliable PRO services for company formation service. Company formation in UAE requires great deal of expertise and experience that's why it is really important to choose a reliable business consultant that can fulfill your all the requirements.
Supreme Pro is one of the most reputed business consultancy based in Dubai, which is providing reliable PRO services to various companies. If you are looking forward to set up business in UAE, you consult them as they are capable for providing various services such as LLC and Free Zone company formation, visa services, business solutions and DEWA services.
A good guide for those planning to migrate or work/planning to have their own business at UAE.
ReplyDeleteI think it's more ideal for large investors to hire the services of professional consultants to form their company to make sure that they will be following the complete regulations and legal policies of Dubai. It's such a hassle to miss out on important steps and documents.
ReplyDeleteI do know a brand that mostly exports its products to Dubai. Good country to work with they said. However thw brand wasn't based in Dubai. Dunno how much is it suitable for smaller firms.
ReplyDeleteThis is helpful for individuals who want to establish their business abroad. This is also true for other countries.
ReplyDeleteUAE is a booming economy. It would be a nice place for business. This really helps you start one there.
ReplyDeleteI didn't know this about Dubai, but then again this is expected since they have been developing their country for some time now. This is very good for business owners who would like to expand or those who are thinking of opening a business here.
ReplyDeleteDubai is one of the best developed cities in the world offering big growth opportunities. Good guide and tips for people who want to set up business there.
ReplyDeleteThis is just a great and helpful tips for those who intend to invest their money in this country.
ReplyDeleteAside from hiring a consultant, it's quite amazing how possible foreign investors can set up their own business in the land they aren't citizen in the first place. Now, no wonder why Dubai had its economic growth bloom.
ReplyDeleteGood guidelines for anyone looking to set up a business there. I don't think I will any time soon, but it's still an insight to be able to refer to these guidelines and compare with other countries...
ReplyDeleteVery useful article for the people who are planning to setup their business in Dubai. Will note down Supreme Pro consultancy name, I may need this in future.
ReplyDeleteIt does pay to know the ins and outs of setting up a business in a country before actually doing it. This is a great primer for those planning to set up a business in Dubai.
ReplyDeleteThis is very informative for those who plan to setup or start a business in UAE.
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