SETTING UP BUSINESS

 

UAE has always been eager to assist investors and businessmen in making a reality of their goal of experiencing the most talked about business freedom in the UAE. Our services include, complete documentation for licensing, visiting various sites suited to clients' requirement, assisting in visa application & residence permit and banking.

 

Limited Liability Company (LLC):

 

At least 51% of the share capital must be provided by a UAE National. Proof of the above is required in one of the following ways: Where the capital is paid in cash, a letter from a Bank operating in the same Emirate. Where assets are contributed in return for shares, an Accountant’s Valuation. These must state that the minimum share capital has been paid and at least 51% of this has been paid by the UAE National. Following the above, the capital can be used as working capital by the business. Management of the company can be organised by a separate contract with a third party, which could be the foreign company or individual. Profits and losses can be shared disproportionately between shareholders.

 

FREE ZONE COMPANY

 

Foreign Investor’s may own one hundred percent of the equity in a company established in a free zone. The benefits of setting up in a free zone include no tax on profits for a fixed period, import and export tax exemption, exemption from commercial levies, unrestricted repatriation of capital and profits, multi year leases, pre-built buildings for lease, subsidised energy connections and assistance in labour recruitment. In addition, for a fee, the free zone authorities provide support and administrative services, such as sponsorship of employees and security and in some circumstances worker housing and recruitment.

There are commonly four ways in which a business may be established in a UAE free zone.

FZE’s are limited liability establishments owned by one natural or juridical person with a distinct legal identity and independent financial liability.

FZ-LLCs are limited liability companies incorporated by one or more shareholders with a distinct legal identity and independent financial liability. Whereas not less than 51% of the shares in a company that is set up “on-shore” in the UAE must be owned by a UAE national or by a company wholly owned by UAE nationals, 100% of the shares in an FZ-LLC may be owned by foreign investors.

Shareholders in an FZ-LLC may be a corporate entity, an individual or both.

Another option is to establish a branch office of a foreign or of a UAE company. In contract to branch offices established “on-shore” in the UAE, no local service agent is needed for a branch office in a free zone. In general, most of the free zones issue the following types of licences:

Trading Licence, Industrial Licence, Service Licence, National Industrial Licence

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