Business Setup Consultants in Dubai
The UAE is the largest worldwide business hub and most famous region. There are a number of reasons that make this country one of the best places to do business. The country offers a high level of security, stability, and economic prosperity. It is an attractive destination for investors and entrepreneurs. The UAE has a well-regulated tax system, low corporate tax rates, and favorable investment policies. Thus, the business structure has been simplified to make conducting business easy. One can easily start a company or plan for a business setup in UAE. Our team of experts will help you out with each and every step of the quick and easy setup process for your business. Be it business setup in UAE, business setup consultants in dubai, or Abu Dhabi. However, we provide consultancy services all over UAE and help you to set up your business in the United Arab Emirates.
Why start a business in the emirates?
There are various reasons to set up a business in the UAE. With a booming economy and rich multicultural environment, the emirates have abundant opportunities. In addition, the opportunities include the following.
- A legal framework
- Manpower ability
- Developing infrastructure
- Relaxed taxation
- Ease of doing business
- Business opportunities in the world expo 2020
- The robust and effective healthcare system
- Prosperous geographic location.
These are some eye-catching factors that can help you expand your business in the emirates.
Zones in which you can set up a business in UAE:
Mainland business setup in UAE
UAE mainland is nothing but an onshore company which is registered under the government authority of the emirates. It is mainly characterized by restrictions less trading opportunities. In addition, the investor invests in a mainland company in the UAE, and the company is authorized to trade in the UAE as well as outside UAE.
Free zone business setup in UAE
UAE free zones are designated areas in the United Arab Emirates where business owners fully own and operate their businesses. However, anyone can set up a free zone company in UAE in a hassle-free way with an affordable company registration fee. There are more than 45 free zones in the UAE, and each free zones hosts more than 8000+ companies.
Offshore business setup in UAE
UAE offshore businesses are set up for operating outside the registered location of their primary setup. Thus, UAE offshore companies can not trade within UAE. In addition, the offshore company lies legally outside a nation’s boundary, whereas a free zone is within UAE but governed by local authorities.
Difference between Mainland, Free zone, and Offshore in the UAE:
The Mainland is located on land in a city in the UAE. For a Mainland business, you will need to have an actual office location. However, On the Mainland, there are no limitations on your ability to conduct business both inside and outside of the UAE.
You cannot conduct business outside of the UAE Free Zone. It is possible to operate a Free Zone business with or without a physical office.
Entrepreneurs acquire complete control of a business in an offshore corporation. You can do business outside of the emirates, but a physical office is not permitted.
Process for setting up a company in UAE
The process is simple and easy for the company formation in UAE. First of all, you will need to plan and research your business sector. The step-by-step guides to set up a business in UAE are as follows.
The steps are following:
1 – Select a business activity
2 – Select your jurisdiction
3 – Choose your legal structure
4 – Receive a company name approval
5 – Apply for your trade license
6 – Register your company
7 – Secure any necessary external approval
8 – Rent office spaces
9 – Produce tenancy contract
10 – Receive initial approval
11 – Collect your license
Documents required for Business registration in the UAE
You must be prepared with a variety of documents for the aforementioned application process. The required documents to set up a business in the United Arab Emirates are listed below.
- Certificate form
- Report on Technical Evaluation
- Association Memorandum (MoA)
- Certificate of Trade Name
- External endorsements
- Important government records
- Lease agreement
- Certificate Ejari
- Any partners’ NOC
- Copies of each partner’s passports
- Emirate ID (if applicable)
Types of legal forms of companies operating in the Emirates
Choosing the right legal form for your business is one of the most important steps in establishing one in the UAE. This decision may be influenced by a number of variables, such as the kind of your company, its location, and your specific business objectives. However, choosing the ideal legal structure for your company will enable you to effectively manage your resources, investments, and earnings. The most notable legal structures under which many businesses operate are described below.
Solo Proprietorship
When there is no legal distinction between an owner and the business entity, one person owns and runs a sole proprietorship. A solo proprietor is responsible for all losses and debts and earns all gains.
Public Company
A public corporation is a corporate collaboration of experts such as doctors, accountants, and lawyers. All partners have equal ownership in this business, although they will probably need help from a service agent.
LLC Limited Liability Company
One of the more popular types of company entities in the UAE is an LLC. It is frequently advised for companies looking to expand their clientele in the area. However, managers must be appointed under an LLC’s Memorandum of Association. There can be a minimum of one manager and a maximum of five with this legal structure.
Independent Shareholding Company
A privately held corporation with a controlling interest in the investments and assets of other businesses is known as a private shareholding company. In addition, this business doesn’t manufacture any services or products on its own.
Publicly Traded Company
A public shareholding firm is controlled by a large number of investors, much like the former. A public shareholding corporation must be established with a minimum of 10 founders, three board members, and AED 10 million.
Division Office
The legal identity of a branch is the same as that of its much bigger parent firm, despite being a smaller organization. These branches can appear in a variety of ways. The branches such as Foreign company branches, UAE company branches, Free zone company branches, GCC company branch
Benefits of setting up your company in UAE
The UAE is a country with a high degree of development, and the economy is booming. In addition, the UAE has a highly developed infrastructure and business environment. The UAE has become one of the most attractive places for international investors to invest in. In recent years, the UAE has been actively attracting foreign investment, and now it is one of the most attractive destinations for global investors to invest in. The other benefits are as follows:
- No income or capital taxes except for oil and domestic banking
- No withholding taxes
- Trade barriers or quotas
- No currency restriction
- A lucrative market
- 100% repatriation of capital
- Easy visa availability
- More than 20 free zones
- Technological advancement
- Top-notch infrastructure
Costs for setup a business in UAE
The cost incurred in forming a business can vary depending on various factors, including the nature of the business, office rent, notary fees, trade license fees, government registration fees, annual business renewal fees, visa fees per person, agent fees, nominee services, standard share capital, charges for opening a bank account, medical check, emirates ID cards, administrative service fees, etc.
Which business setup services are obtainable in UAE?
There are many business setup services in UAE, including
- Company formation
- Trade license
- Local Sponsorship services
- PRO services
- Auditing
- Accounting and bookkeeping
- Company registration
- VAT registration
- Legal advisory
- Product Registration
- UAE visa services
- Copyright registration
Is it mandatory to have an office to set up business in UAE?
Yes, To set up a business in UAE, you need a physical office.
Is local sponsorship mandatory for setting up a business in UAE?
A local sponsor who must be a national of the UAE will serve as a representative of your company while establishing a business on the UAE mainland. However, there is no such requirement in a free zone.
Which type of business should I start in the UAE?
There are various different business ideas available on the internet. But some popular business industries in which you should start in UAE are as follows:
- Oil and gas industry
- Construction business
- Media industry
- IT industry business
- Financial industry business
- Food industry business
- Industrial industry business
- Education business
- Retail business
- Manpower industry business
- Tourism business
- Healthcare business
- Hospitality business
- Fashion industry business
- Real estate business
Why choose MSZ consultancy?
If you are looking for a business setup consultants in dubai. MSZ Consultancy will help you with the whole process of setting up your business in the UAE. We are committed to providing careful consultancy help for all of your company needs and have an instinctive, comprehensive understanding of UAE business procedures. We have the know-how to assist you in accelerating your business thanks to our more than ten years of experience in business operations across the Emirates.
