Having your own company is the dream of every entrepreneur. There are many options available for the newcomers but company formation in UAE is most likely to help them succeed. The opportunities in the UAE are endless. It is potentially the most productive business destinations that you can find in the world. Emirates such as Dubai are a prime tourist destination and a hub of business activities. But as much as company formation in Dubai is fruitful for the investors and entrepreneurs, it is a very extensive process and hard to understand for an average person who is not aware of the language and the laws of UAE.
Libra Businessmen Services have a complete plan for you to setup your company in UAE. We will take you through the process of company formation and make your journey to setup new business in the UAE very smoothly, easy, and fun. Here is how it works!
The most vital one of the company formation services that you can expect from us is our expert consultation. Libra Businessmen Services has helped hundreds of successful companies in setting up their businesses in various free zones and mainlands in UAE. We have years of experience that we can use to help you in deciding your business plans. We will consider your individual circumstances, inform you about the pros and cons of your choice, and come up with something that works the best for you.
The first thing that you have to decide is the type of your company. There are many different options for company formation in Dubai. These include offshore companies, onshore companies, and free zone companies or you may want to setup general trading business in UAE. Every type of company formation has a different set of rules that you have to abide by. and the choice depends completely on the type of business that you want to set up.
It is very important for every business owner to acquire an appropriate license for business activities in the UAE. You have to fill the forms and make yourself aware of the specific laws of the country concerning your business. Libra Businessmen Services will take care of all your legal responsibilities and help you in getting your trading license in Dubai without any problem or delay.
Every company should have a bank account in the UAE for safe and easy business transactions. When you are working on company formation in UAE, a bank account will help you in keeping your company’s finances in check. We will make sure that you open your bank account without any unexpected delay.
The last step is to apply for a visa as soon as your documents are ready. Apply for a family visa or the visa for your new company’s employees according to your needs and here again, you can get all the complicated paperwork handled by Libra Businessmen services.
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There are three common jurisdictions that apply to the companies formed in UAE. It can be a free zone company, an offshore company or a mainland company.
Free Zone Company:
The main attractions for setting up a company in a free zone is that there is no UAE national shareholding required 100% foreign ownership of the enterprises, 100% import and export tax exemptions, 100% repatriation of capital and profits, no currency restrictions, Corporate tax exemption for 15 years, renewable for an additional 15 years and No personal income taxes.
A mainland company is an onshore company whose license to establish the entity is issued by the Department of Economic Development (DED) of the respective emirate. A mainland business is allowed to do business in the local UAE market as well as outside UAE without any restrictions. Different types of license under mainland are, Professional license, Commercial license, Industrial license, Tourism license etc.
UAE offshore companies offer the benefits like, no corporate tax, 100% foreign ownership, 100% capital and profit repatriation, UAE bank account, international invoicing, limited liability company, No TIEAs, absolute privacy and confidentiality, ability to maintain multi-currency bank accounts in the UAE, virtual office facilities available in the UAE etc.
The common legal forms of business in Mainland, Free zone and Offshore formation in the UAE are:
There are six types of license in UAE that you can choose according to the type of business that you are going to start there. These six types of business licenses include, commercial license, agricultural license, craftsmanship (or occupational) license, professional license, industrial license and tourism license. Such licenses are issued by the Abu Dhabi Department of Economic Development.
There are a number of mainlands and more than 37 free zone company options available in all 7 emirates of UAE. You can choose your location depending upon the type of business that you are setting up. Each free zone or mainland is specialized in something which will give you a chance to work in a highly competitive environment.
Cost of company formation in UAE can vary depending upon the type of business and location. The price start from as low as AED 6000 for tech and media companies and it can go up depending upon your expansion plans.