Office #301, Vision Tower,Business Bay, Dubai – U.A.E
As the geographic and economical lynchpin of the Middle East, the worldwide investors see the United Arab Emirates as a vital element of their operations. It is well established as the main destination for multinationals to establish their regional base and high growth markets in the Middle East, Africa and South Asia. It is also a perfect location for new business setups across diverse sectors. Dubai is the second largest emirate and rank as the UAE's most important port and commercial center. It has worked to transform itself into a broadly diversified economy. Critical sectors include manufacturing, logistics, financial services, information technology, retail, travel, tourism, healthcare and education, in addition to a strong focus on green technologies.
To attract international business Dubai has invested heavily in its transit, telecommunications, energy and industrial infrastructure. There are no income or capital taxes in Dubai, except for oil and domestic banking, and no holdinghold taxes. Companies in Dubai can get more significant advantages from foreign exchange controls, trade barriers or quotas, making it an ideal location for business setup and company formation.
“COMPANY FORMATION IN DUBAI” - A foreign company wants to start a business in the UAE, which can be set up as a branch, representative office or registered company, or it can sell a commercial agent for its products in the UAE market or export them. New companies can also choose their activities from a free zone, which is a designated, self-regulated area set up to enable an activity within an emirate within the catalyse and its own set of rules and regulations. There are around 40 Free Zones in the UAE, with more under development. Foreign ownership restrictions are contained in the Commercial Companies Law (CCL), which requires that the UAE nationals or their wholly owned companies hold at least 51% of all companies of shares in the UAE.
The CCL provides for the establishment of the following business entities for foreign investors: joint stock companies (JSC), limited liability companies (LLC), unincorporated joint ventures and branch offices of foreign companies. The CCL does not apply to companies that are established in the free zones. It is important to have a complete understanding of your options before deciding how your company's presence in the UAE is established. Overall growth for your company in the UAE can be made by the wrong choice, so please consider the following points when deciding the best structure for your needs.
The current nature of your business
Business expansion plans
Current capital to invest
Need for outside investors, or desire to attract investors in the future
Tax implications of structure
Personal liability and company risk
Audits and other requirements to remain compliant locally