Notarizing a Power of Attorney in the UAE

Notarizing a Power of Attorney in the UAE

Power of attorney is a term used to define the delegation of one’s responsibilities to someone else. That person can be a friend, family member, a business associate, an employ or a professional such as a lawyer or accountant. Powers granted are to be specified on the Power of Attorney form.

Circumstances requiring Power of Attorney:

  • When authorizing your family member, friend or professional to handle your legal and financial affairs
  • When authorizing business associate, subordinate or employee to handle your financial and managerial affairs in your absence
  • When authorizing your family member or friend to handle your medical or personal affairs in times when you are seriously ill and are unable to make decisions by yourself.
  • When authorizing someone to perform certain tasks at a specified time, in your place.

Types of Power of Attorney          

Generally, Power of Attorneys can be classified into

General Power of Attorney:

It grants the individual a wide and unlimited range of authority over your financial, legal or personal matters.

Special Power of Attorney:

It allows you to define the individual powers that you are granting the agent, within a narrow scope.

This format can be used, for example, if you want your spouse to manage your personal finance or property, or your business associate to take care of your business affairs.

The first step to the formation of Power of Attorney:

The first step in appointing the Power of Attorney is choosing an agent or attorney-in-fact, the person who is going to act on your behalf. It is preferred that the person is from your inner circle of life, someone who you trust completely. Another factor to keep under consideration is that the person should be at least twenty-one years old. In order to prevent any misunderstanding or counter decision, it is advised to discuss the terms, roles, responsibilities, authorities, duration, and limitations with the agent beforehand.

Notarizing a Power of Attorney in the UAE:

In UAE, Power of Attorney is signed in the presence of the principle, i.e.; the person granting the POA. The POA is signed in front of Notary Public who then reviews it and stamps it declaring it a legal document. But this is done after the principal pays the applicable attestation fees. The language of the document should be Arabic in the original. And if it is in any other language, the Arabic translation should be attached alongside. In case, POA has been issued outside UAE, it has to be notarized, translated into English or Arabic and legalized by the UAE Embassy and Department of Foreign Affairs in UAE or from the Embassy or Consulate in UAE where it was issued from. After this, it has to be attested by the Department of Foreign Affairs in the UAE. Following documents are required, for a standard personal POA, at the time of notarization of POA in front of a Notary Public in UAE;

  • Original passport of the principal along with 1 copy
  • Three copies of the POA to be notarized
  • Original Emirates ID of the principal along with 1 copy (applicable for UAE residents)

It is mandatory to present the ownership documents of the property if the POA is related to a specific real estate or for on behalf of a company.


 

Top 10 Business Ideas in Dubai

Top 10 Business Ideas in Dubai

Dubai’s business environment is famous all over the world as well as an amazingly attractive tax regime zero percent on both personal and corporate incomes. The emirate is located in the perfect global location from which to trade with Europe, Asia, and North Africa and beyond.

Dubai is also acknowledged to be a hospitable environment for entrepreneurs with many encouragements and incubator schemes available to assist startups to thrive and grow. The emirate also habitually ranks within the top ten in the World Bank’s ease of doing business index. No doubt such an environment is home to great opportunities in everything from trading to tourism.

Consequently, if you’re looking to initiate new business in Dubai, here we are discussing 10 best business ideas in Dubai for your consideration.

  1. Restaurant

The UAE has more food and beverage channels per capita than anywhere else in the world. However, don’t let that put you off. The Emirates and Dubai in certain have a ravenous appetite for eating out. Around a third of residents eat out on average at least two to three times per week. What’s more, 17 percent eat out or order takeaway every single day.

This is one of the low-slung investment ideas on this list. You don’t require a massive initial amount to satisfy the appetite of Dubai’s army of diners. You could open a food truck, market stall or cafeteria.

  1. Events Company

Dubai is a global events center. In total, the emirate’s events industry is estimated to be valued more than AED 165m (USD 45m). This is only set to rise with Expo 2020 on the horizon. The chief event of this type is to be held in the Middle East.

There is plenteously of scope for business ideas within the events industry, from large commercial exhibitions and trade shows to private events like weddings and parties.

  1. Health and wellbeing

Dubai’s population is extremely health conscious. Therefore the emirate contributes enormously to a UAE health and wellness market with a value of almost USD 3bn which is the largest in the Middle East.

There is an adequate opportunity here for both healthcare and non-healthcare-professional. The health and comfort market is home to many subsectors. You could be a personal trainer, masseuse, or holistic therapist, or organize wellness programs or trade in vitamins and supplements.

  1. Construction

It may be an industry that needs a little more starting capital and the potential return can be massive.

In early 2017, Dubai was home to over 3,200 active projects, value an estimated USD 245bn. This figure has likely enlarged since in the run-up to Expo 2020, an event that has contributed some USD 42.5bn in construction projects.

  1. Freight and cargo

Dubai is extraordinarily well-connected by sea, land, and air, making it the ideal location from where to operate a freight or cargo business.

Fundamentally this business entails supporting manufacturers or traders with shipping their goods overseas. Setting up near the busy Jebel Ali port will definitely make your business attractive to the several Dubai businesses that ship products overseas every day.

  1. Transport

The residents of a thriving city want to get from A to B – and many need to get there in style. That’s what lends this specific business idea so much scope. You could activate a bike taxi service, right up to limousine hire and chauffeur (give somebody a ride) services.

Be certain to do your research first to get information about both the local area and the needs of its peoples. The demand for executive cars will be far higher in more or fewer areas of the emirate than others.

  1. Real estate

Dubai’s actual estate industry is famed for its inspiring returns. After a comparatively slow duration more or fewer areas in Dubai are returning yields of more than six percent, that’s higher than many major cities comprising London, Singapore, and Hong Kong.

There are other chances here too, outside of investment. The introduction of long-term visas, along with the relaxing of overseas ownership rules is likely to raise the number of emigrants in Dubai, which in turn enhances the demand for property management services.

  1. Cleaning services

While it may not sound trendy, cleaning is a vast business in Dubai. Not only is the emirate full of office buildings that need cleaning at the end of the working day, but there’s also frequent shops, restaurants, hotels, and bars that want to be kept in top condition.

Then there is the private sector. Dubai is home to numerous business expats who are happy to pay for the services of a company to keep their apartment nice and clean.

  1. Web development

Here we have one of the more profitable online business ideas in Dubai. Thousands of fresh businesses launch here every year and they all must have websites.

If you already have the obligatory skills then all you need is a laptop and an internet connection. If you are fresh to the craft, training courses are plenteous and reasonably priced.

  1. Day-care services

There’s one more service that Dubai’s hardworking emigrants are very much in need of and that’s day-care.

This specific venture may take a little time to acquire fully up and running as you’ll want to earn trust and build a customer base. Though, startup costs are negligible, making it an attractive proposition for any entrepreneurs beginning on a tight budget. In fact, day-care is one of many common freelance business ideas in Dubai.

Setting up your business in Dubai

Whether you’re looking for business ideas in Dubai for ladies or men, setting up here is both easy and reasonably priced. The cost of registering a company will base on the kind and size of your business. Though, if you wish to start up on a budget, it is definitely doable.

Be cautioned, conversely: while the application process isn’t problematic, it does need an expert eye. Any errors in your application could lead it to be late or rejected.

When you work with a company formation consultant in Dubai, all you need to provide is some basic documentation and a little information about the nature of your business. Then, sit back and let the experts take care of the rest by managing your license and visa applications, communicating with all significant departments and authorities, and reporting back when you’re ready to start trading.

 

A Step-By-Step Guide to Company Setup in Dubai

A Step-By-Step Guide to Company Setup in Dubai

 

Are you thinking of company setup in Dubai? Congratulations, you have selected one of the best business ecosystems in the domain for your novel endeavor. Dubai is more than simply a city of architectural marvels– it is one of the most productive grounds for new businesses. This is just one of the numerous things that mark the commercial capital of UAE the best place to live and work.

We have prepared this article with essential guidance about the process and documentation which is required. Take a good look at the below before you kick off the real process- the good news, however, is that on average, if you are prepared with all required documents, it takes less than 10 days to open your company in Dubai. So, let’s start!

Company Setup in Dubai 1

1. What you want to know

As you begin with the actual procedure of company formation in Dubai, here is what you should be aware of beforehand to mark things less complicated.

 

2. Economic zone and ownership

As quickly as you are ready to establish your company, you must first find out what business zone or ownership kind would best suit you. Dubai Economic Department has a list of over 2100 (business) activities you can select from. 

For determining upon the zone, you must be familiar that Dubai presents different types of economic zones for operating a business: Free Zone, Offshore, and Mainland, all of which deal different advantages depending on your business category and activities. Here are the two main zones that entrepreneurs use most usually in the Emirate:

  • Free Zone: Offering the extravagance of 100 percent foreign national ownership, Free Zones are Dubai’s way of attracting and inspiring foreign investment by making it stress-free to set up a business and easing down the immigration and labor procedures. There are around 45 Free Zones in the UAE, of which around 25 are in Dubai, each of which caters to precise categories of business. 
  • Mainland: If you wish to operate in Dubai mainland, you have to register with the Department of Economic Development (DED), which will then grant you a Dubai business license.
  • Types of licenses: Based upon the kind of business activity, you will be obligatory to first identify the category of license you want. Again, DED is accountable for the issuance of the license. Chiefly there are three kinds of licenses you can look at Commercial (for Limited Liabilities Company or LLCs) License, Industrial License, and Professional License.
  • Need for local sponsors: For opening any type of business in UAE under a DED license, you have to need a local sponsor, or an agent, or a partner. Though this is not compulsory, having local support can help you in several ways. So, do a little research and discover how your business will benefit from this addition, in case it is not an obligation for your kind of business.

Now that you distinguish about the background and requirements to initiate with the official process of registering your company, here’s how you go about to apply and get a business license in Dubai.

 

3. Getting your business registered

  1. Select the category of business: The primary step you have to be assured about is the type or category of business you have. In case you discover it problematic to define your business and cannot find your category in the official lists of the business activities as per DED, you can investigate directly at Department of Economic Development (DED).
  2. Find the right legal form: Antagonistic to what the name suggests, this is NOT a legal document or a form to be filled. The position and type of your business choose what the make-up of your stable will be and this depends on the Free Zone or the area of operation you select. You will have to check which business activities match which authorized forms. Use the same link as above for details.
  3. Choose a trading name: This is an imperative part of the whole setting-up-business cycle in Dubai. You are expected to choose a trading name that matches the type of services your company plans to offer. You then have to pay trade name reservation fees within 72 hours of receiving this voucher. 
  4. Minimum investment: Different businesses have different requirements; though, it is not obligatory in the majority of businesses to have an initial investment.
  5. Begin with initial approvals: At this point, you must get a kind of “no-objection” from DED and custom a number of channels for the same. You can visit one of the Service Centers or explore Happiness Lounge. 
  6. Prepare agreements and select premises: Based on the authorized form of your business, you might need to generate and sign a Memorandum of Association (MOA) or a Local Service Agent (LSA) / Corporate Agent agreement with local support (UAE national). Also, in this phase, you will have to finalize a physical address for your company.
  7. Submit documents and get a license: Before heading to the former step of the journey of registration of your business, make certain your type of business does not need any additional approvals. As soon as everything is done, you just have to submit all the necessary documents and process all the payments. You have to pay for your trade license within 30 days of receiving a payment voucher. In case of non-payment for six months, the transaction is spontaneously canceled.

8 Steps To Company Setup in Dubai

8 Steps To Company Setup in Dubai

Company setup in Dubai should not take you more than a week as soon as you’ve sorted all your legal procedures.

But before you start your legal formalities for Company setup in Dubai, you have to need to be considered some elements required in the process:

1. Type of business

Your type of business will decide the kind of license you must require. Whether it’s commercial, professional or industrial licenses, these will describe the basis of your operations. Though, while choosing, remember that certain activities like food trading, jewelry trade, veterinary activities, and legal consultancy require further consents from other governmental departments.

The Department of Economic Development (DED) in Dubai has a list of over 2100 activities you can select from. If you’re unable to discover your definite one in there, you can contact the DED. Each free zone has its own rules and endorsement formalities.

Company Setup in Dubai

2. Ownership

As a distant national, if you’d like 100 percent ownership of your company, you want to elect for a license and location in one of the many free zones of the UAE. There are particular types of activities that each free zone caters to and lucidity in the initial step will support you to find your best option. There are over 45 free zones in the UAE with frequent classes of operations, so you don’t lack for choice.

If you want a local license or need to operate locally, you have to acquire a license from the Department of Economic Development (DED). The DED license comes with firm limitations on the share of ownership for foreigners, based on distinct legal structures under DED.

3. Legal structure

Depending on your site and kind of business, there are certain rules regarding the make-up of your firm. For instance, if you plan on an authorized consultancy firm, this can be done only as a branch of the company or as a stand-alone company. A singular proprietor is not permitted to take up this activity. Each free zone has its own boundaries regarding company structure and you can look these on the official website of the zone. 

4. Trade Name

Your trade name is a very significant part of the legal procedure. The company name should ideally specify the nature of the business, except it is a branch of another company. All the directions regarding trade names can be seen on the DED official website.

5. Share capital

Least share capital is usually set out in the Memorandum of Association of your planned company. In most circumstances, you do not want to pay minimum capital at the time of setting up.

6. Premises

As soon as you have your legal procedures and forms ready to go, it would be best to make a shortlist of some offices with costs and other details. This would mean a clear track forward just the once you get your legal formalities out of the way. In free zones, you will get support to discover premises appropriate to your requirement along with help to set up electricity, internet, water, and other amenities.

7. Employees

In most legal methods of the DED, you want to hire a manager to oversee operations and make him ready to be on board earlier your registration is approved. But in other circumstances, you may not be permitted to hire at all. For instance, Intelaq license holders (license for home-based Emirati business owners) are not allowed to hire staff but can involve contractors. Details can be seen here. For free zones, each zone has its own particular regulations regarding the structure of the business.

8. Local support

For DED licenses, it is obligatory to have a local agent, partner or sponsor and this is great support for distant nationals. For free zones, having a local contact can support to take the business forward effectively. Though this is not compulsory and Dubai as a business destination boasts easy set-up for all businessmen regardless of nationality.

GCC Solutions: We are company formation consultants in Dubai focused on providing a full suite of strategic consulting, trade facilitation, business formation, and regional training. We provide our clients with turnkey company setup services including preparation and submission of all required documents to all relevant government ministries and authorities.

 

Reap These 5 Benefits When You Set Up an Offshore Company in RAK

Reap These 5 Benefits When You Set Up an Offshore Company in RAK

Planning to establish an offshore company in RAK? Ras Al Khaimah is one of the most ideal destinations for an offshore company formation due to the suite of benefits it has in store.

rak offshore company

They are as follows:

Business Confidentiality

Offshore company formation in RAK offers complete anonymity and confidentiality for the business owner. Hence, if you are the type of entrepreneur who values this aspect when doing business, then you will never go wrong with offshore company formation in RAK.

Discretionary Investments

One of the key benefits of RAK offshore company formation is that you will not be bound to a number of restrictions and rules compared to other region or jurisdiction in the country. The good news is that RAK offshore is an independent overseas location for foreign investors with its very own set of rules and authority known as RAK Investment Authority (RAKIA).

Asset Protection

Offshore company formation in RAK also provides full asset protection with a solid and dependable platform for entrepreneurs and investors as compared to domestic business structures. Through this protection, international trustees are able to create a lawful barrier between the assets and creditors secured within the offshore company.

Taxation and Double Taxation Avoidance Agreement

Boasting a tax-free nature, Ras Al Khaimah provides lucidity for investors to engage in business activity and obtain complete returns. What’s more, in order to further benefit international investors, a tax treaty called Double Taxation Avoidance Agreement was signed among countries including Finland, Germany, India, Singapore, Italy, France, Malta, Malaysia, China, New Zealand, and more. This enables foreign entrepreneurs to avert tax payment in the two countries they transit with.

Lawsuit Protection

Another key benefit of opting for a RAK offshore company formation is that you will get lawsuit protection. This is designed to save your possessions in case of legal judgments or allegations. RAK Investment Authority (RAKIA) plays a significant role in assuring that your business is incorporated ethically and that an in-depth check is performed prior to setting up a company.

Documents Required in RAK Offshore Company Formation

  • Bank reference letter
  • Address confirmation of the directors and shareholders as well as latest utility bills that are not older than 3 months
  • Colored passport copies for both shareholders and directors
  • The CV of the shareholders and directors

Process in Starting Up a RAK Offshore Company

To get started with the offshore company formation in RAK, contact an officially registered agent of the RAK ICC registry who will handle and submit all the incorporation requirements to the registrar.

The good news is that it is not necessary for the applicant to be physically present in the country for the incorporation as all the legwork will be handled by the agent. Moreover, it will just take 2-3 business days to set up a company and the rates are completive compared to other offshore jurisdictions. Thus, Ras Al Khaimah is indeed the most cost-effective location to set up a business in the UAE.

Want to experience all the good things that an offshore company formation has to offer? Set your sights on Ras Al Khaimah today!


 

 

Reasons to Opt for an Offshore Company Formation in Dubai

Reasons to Opt for an Offshore Company Formation in Dubai

If you are planning to start up your own business in Dubai, there’s a number of formation types that you can choose from. However, Dubai offshore company formation is the most ideal one as it offers multiple benefits that will pave the way for you to reach your financial target.

Offshore-Company-Dubai

This article will shed light on its benefits and advantages which will help you make an informed decision.

Offshore Company Formation in Dubai: Overview

This is a legal business entity set up in an offshore financial center that is protected by certain legislation and is provided a special status under a jurisdiction. It comes with a number of advantages which include a high level of safety measures, reliable politics, stable economy, business anonymity, and confidentiality.

Benefits of Setting Up an Offshore Company in the UAE

1. A Single Owner or Shareholder is Enough

One of the major benefits of offshore company formation in the country is that only 1 owner or shareholder is required for the registration. His citizenship and place of residence do not have any limitations except for countries sanctioned in accordance with the general international rules established by international organizations.

2. Asset Protection

Given that offshore company formation in Dubai comes with asset protection jurisdictions, you can take advantage of a solid and reliable platform compared to domestic business structures. Through asset protection to foreign trustees, this enables them to create a lawful wall between the assets secured and the creditors in the company.

3. Business Anonymity

Secrecy is by far one of the key advantages of operating a Dubai offshore company formation. This is why it has been attracting entrepreneurs, investors, and businessmen worldwide.

4. Taxation

If you will go for an offshore company formation in Dubai, then you will reap the benefit of 100% free taxation and zero audit requirement. The great thing about a tax-free atmosphere is that it offers transparency for entrepreneurs to gain complete returns and engage in business activity. Moreover, this type of tax management encourages stakeholders to invest within the country, thus resulting in a better economy and a host of commercial benefits.

5. Lawsuit Protection

This will help save your possessions in the event of legal judgments in a Dubai offshore company formation. Through an offshore authority in the UAE, your company is given assurance that it is incorporated. However, in case of a legal pursuit, the possessions involved and the resources are protected.

6. Double Taxation Avoidance Agreement (DTTA)

This is a tax treaty signed among countries which are designed to benefit both foreign residents and investors. As per the treaty, the international residents and taxpayers can avert tax payment in two countries such as the residence country and the source country. Given that the UAE signed the DTTA with more than 40 countries, offshore company formation has become more beneficial than ever.

7. Document Attestation

The Memorandum of Association (MOA) and other documentation related to the company formation are duly attested by the registrar. These are all provided in English, which makes it highly convenient for staff to be employed in the company in the future.

These are just some of the reasons why you need to consider offshore company formation in Dubai. With its host of benefits, you will be able to boost your earning potential and do business with ease and convenience.


 

Exciting Benefits of Setting Up a Dubai Free Zone Company

Exciting Benefits of Setting Up a Dubai Free Zone Company

Strategically located just a stone’s throw from Dubai International Airport, DAFZA offers complete business services and world-class facilities at competitive rates for enterprises of different forms and sizes. Considered as the most innovative and competitive free zones in the world, it offers more than AED 100 billion (USD 27 billion) of trade, which accounts for only under 10% of Dubai’s overall non-oil overseas trade. It is also worth noting that in 2016, it achieved net profit growth of 16% and a 44% increase in the total leasable area of multinational firms in the free zone.

Dubai free zone company

No wonder, a Dubai Free Zone company setup is one of the most exciting business ventures for anyone looking to take their income potential to the next level. It offers great benefits which include the following:

  • 100% company ownership
  • 0% personal and corporate tax
  • Zero currency restrictions
  • 100% repatriation of profits and capital
  • 100% exemption from import and export tax

Aside from these perks, there are other crucial reasons why a DAFZA company setup is something that you shouldn’t think twice about.

Experience Convenience with a Simple and Quick Setup

DAFZA is widely known for making it easy for entrepreneurs to do business through its simplified business setup process. It supports businessmen in every step of the way, from determining the type of business and selecting the proper license, to fitting and furnishing the office.

Enjoy the Visa with a Flexi-Desk Option

A number of solo entrepreneurs and freelancers are attracted to a DAFZA company setup due to the free zone’s cost-effective and convenient flexi-desk option, which provides them access to desk space and other services such as reception cover and conference room hire on an ad-hoc basis. Visa support is one of the perks of the flexi-desk offering, in such a way that DAFZA will help you obtain the right visa in order to start up your business and work in Dubai whenever you desire to use your desk space.

Different Types of Businesses Available

Another great thing about a DAFZA company setup is that it offers an array of business activities that are listed by the Dubai Department of Economic Development (DED). This includes the following:

  • E-commerce
  • Cargo
  • Consultancy
  • Health
  • Media
  • Transport

Ease of Sponsorship to Both Staff and Dependents

A Dubai Free Zone company setup also enables you to obtain the necessary paperwork and permits for your staff and dependents. Specifically, the free zone offers support to entrepreneurs in processing the residence permits, visas, and healthcare cards they require, as well as ensuring that the medical and other documentation are fully completed.

Multiple Shareholders

Keep in mind also that Dubai Free Zone company setup is not just renowned with solo entrepreneurs and small businesses. Given that DAFZA registration allows for a number of shareholders, it is home to businesses of varying sizes. Shareholders can be companies or individuals, and the great news is that each free zone can register up to five.

These are just some of the attractive reasons that make DAFZA truly a great destination of choice if you are planning to set up your own business. To get started with your entrepreneurial journey, speak to a business consultant today.

Things You Need to Know About Civil Company Formation in Dubai

Things You Need to Know About Civil Company Formation in Dubai

Are you gearing up to take advantage of all the great things that Expo 2020 has in store? Well, venturing into a business setup in Dubai is the only way to do that. A civil company is one of the most ideal options that you can consider as it will enable you to carve a name for yourself and your field of specialization in the region.

free zone company in Dubai

Who is eligible for Civil Company Formation in Dubai?

If you are a qualified and licensed professional in specialist sectors including law, accountancy, medicine, engineering, and more, you can apply for civil company formation. It allows 100% ownership and offers access to the local market, but entails unlimited liability. A civil company is also required to be set up as a partner of the business owners who hold professional qualifications in their respective fields of specialization.

The Role of a Local Service Agent in Dubai

However, even if it allows for 100% foreign ownership, working with a Local Service Agent in the country is still a prerequisite in order to legally trade from the mainland. Keep in mind that unlike local sponsors, an agent will not be allowed to hold a stake in your business. His role is simply to coordinate with government departments and provide assistance with work permit, visa applications, license approvals, and the like. Through this, they are paid either a percentage of your company’s profits or an agreed fee.

What Does It Mean by 100% Liability

Take note that a Limited Liability Company (LLC) is not held liable for any debts incurred by the company and it is the complete opposite for a civil company. Unlimited liability implies that creditors could probably go after your possessions or assets in the event of worst-case scenarios.

Benefits of Setting Up a Civil Company

    • Quick and Simple – Believe it or not, the process of a Dubai company setup is straightforward and extremely easy. All you need to do is apply to the Department of Economic Development (DED) for a license. With the new initiatives in place, your business could be registered with DED in as quick as 90 minutes provided that you meet the criteria for eligibility.
    • Low-cost – The cost in applying for professional license for a Dubai company setup is approximately AED 17,000. Plus, the good news is that there is no need for upfront share capital when venturing into a new civil company. Hence, you will enjoy nothing but low startup costs.  
    • Multiple Visa Application – Civil company in Dubai is particularly well-known among larger organizations as it enables entrepreneurs to apply for multiple visas. The great thing is that there is no limit for mainland companies, but the more visas you apply for, the more office space you are required to acquire. It is a general rule of thumb to have 100 sq. ft. of office spare per visa.
  • Establish a Business with Multiple Shareholders – Another benefit of setting up a civil company in Dubai is that it enables entrepreneurs to establish a business with more than one shareholders. A minimum of two shareholders is required and the normally accepted cap is 50, which can either be corporate entities or individuals.
  • Sponsor Dependents Easily – Apart from being able to easily sponsor employees for their visas, a business setup in Dubai will also enable you to sponsor dependents without hassle. It entails the following processes:
    • Entry permit
    • Adjustment of status
    • Medical fitness test
    • Registration of Emirates ID
    • Visa stamping
  • Set up a Corporate Bank Account with Ease – Upon receiving your professional license and successfully establishing your civil company, the next step is to open a bank account. By seeking the help of an expert, you will advice on the best bank that will meet your needs and requirements.

These are just some of the things you need to know about venturing into a business setup in Dubai particularly a civil company. To ensure a glitch-free process, it pays to consult a business setup service provider that can guide you in every step of the way. 

 

6 Amazing Reasons to Embark on a Dubai Business Setup This 2019

6 Amazing Reasons to Embark on a Dubai Business Setup This 2019

Have you always dreamed of having a flexible working schedule without a boss to report to and yet still earn your target income? If you are planning a Dubai business setup this 2019, then you are one step away from making your dreams come true.

Here are the 6 reasons why this emirate is the best place and this year is the best time to put your best foot forward when it comes to your entrepreneurial mission.

1. Enjoy the Benefits of Dubai Being a Key Commercial Capital

As the commercial capital of the UAE, Dubai serves as the main hub for business investment among other Arab countries. It draws a huge number of local and foreign investors annually enabling it to boost the country’s economic status.

Dubai Business Setup

2. Use the Plans for Foreign Investment to Your Advantage

According to reports, the Dubai Foreign Direct Investment (FDI) will further boost foreign investments this year. The government agency plays an important role by fostering investment opportunities and reinforcing its existing partnerships with key global cities. As a result, foreign investment projects worth AED 17.76 billion was established in the emirate in the first half of last year. Dubai FDI plans the same this year, so businessmen are advised to take advantage of this wonderful opportunity.

3. Growth in the Non-Oil Sector Means Increased Earning Potential

In accordance with a recent report published by Emirates NBD, the total output of the non-oil industry skyrocketed for the 34th successive month in December last year. Industries such as retail, trading, construction, and travel and tourism have shown progress over the course of the months. Hence, these are just some of the most ideal sectors to consider for your Dubai business setup.

4. Real Estate Never Goes Out of Style

It is anticipated that investors will make a huge investment in the real estate industry this year and in 2020. As per a news report, Dubai Land Department (DLD) has recently received a delegation from the USA with 150 real estate agents and 11 investors from private and government institutions aiming for investment opportunities in the emirate.

5. Bask in Less Restrictions and Simple Administration in Dubai Business Setup

This year, choosing mainland jurisdiction is also ideal as it will provide more scope to Dubai business setup. Moreover, establishing a company in the emirate’s mainland will enable you to enjoy a faster, easier, and less restrictive administrative process.

6. More Plans Expected for 2020

The Dubai Government is eyeing huge, lucrative, and business-friendly plans for 2020. Therefore, a business startup this year is a great decision as it will prepare you for the great things that the next year has in store.

Expo 2020 is a much-awaited event and will play a significant contribution to Dubai’s economy. By establishing a business in this emirate this year, you will be able to gear up for the amazing opportunities that await next year.

To ensure your success, it pays to search for reputable and reliable business setup consultants in Dubai who can guide you in every step of the way. Keep in mind that knowledge is power.

Mainland VS Free Zone Company in Dubai: Which is Better?

Mainland VS Free Zone Company in Dubai: Which is Better?

As one of the most lucrative and dynamic business hubs in the world, Dubai is a great place to embark on an entrepreneurial journey. However, one of the common challenges faced by businessmen when setting up a business in this region is choosing between the mainland and a free zone company.

If you are one of them, read on as this article seeks to shed light on which legal form of business is more ideal and more beneficial for you.  

1. What is a Mainland Company in Dubai?

This is an onshore company that is licensed by the Department of Economic Development (DED) of the certain emirate which permits you to conduct business in the local market and outside the country with zero restrictions.

2. What is a Free Zone Company in Dubai?

This is incorporated within a certain jurisdiction of the emirate where the company is permitted to conduct business either inside the same free zone or outside the country. However, when it comes to the trading of physical goods or commercial licenses, the company won’t be permitted to conduct local business directly because the government has set a restriction for trading in the local market via a distributor and by paying 5 percent duty on the local market invoices.

free zone company in Dubai

3. Scope of Business

Business setup in Dubai mainland will enable you to conduct business in the local market, any of your chosen free zone, or even outside the country. What’s more, it applies to all professional or commercial licenses.

On the other hand, a free zone company in Dubai will enable you to do business in the same free zone or even outside the UAE. Typically, this is perfect for businessmen who desire to establish a base in the country for their international imports and/or re-exports.

The limitation of local business through a distributor is aimed at differentiating the enterprise in the local market by free zone and onshore company licenses used for both exports and imports. With a mainland license, the distributor can serve as your agent and impose a certain charge lesser than the 5 percent duty, which is applicable on free zone invoices in the event that they trade directly into the local market.  

4. Structure of Ownership

If you opt for business setup in Dubai mainland, keep in mind that the presence of a local is required either as a service agent or as a partner.

In a commercial license, expect that:

  • 49% shares go to the expat partner, and
  • 51% of shares are held by a local.

Meanwhile, in a professional license, the shares are wholly held by the expat partner and one local is appointed as a service agent.  

On the other hand, free zone license is wholly owned by the expat partner and a local partner or service agent is not required.

5. Visa

The great news is that if you opt for business setup in Dubai mainland, there are no visa limitations on the license. The Ministry of Labor gives an electronic quota, also known as E-quota, to every company. This is designed to show their visa’s eligibility, which can be increased in the event that the company needs more staff.

Meanwhile, if you decide to go for a free zone company in Dubai, 2 visas are basically offered on the smart office package. However, there are certain free zones in the country that permit 3 to 6 visas.

These are just some of the major differences between a free zone company and a mainland company in the UAE. take note that there is no one-size-fits-all solution for the business that you intend to set up as each of them have their fair share of pros and cons.

To determine the right legal form of business that will suit your needs and preferences, it would be great to seek help from a reputable and expert business setup consultant in Dubai that will walk you through the entire process.