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Company Setup

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Company Setup2023-01-12T12:34:13+04:00
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Are you currently living in the UAE?
Do you have a business plan?A business plan is required by banks and some free zones when establishing your company and business bank account. If you don't have one, we can help.
Will you also require visas for your dependants?
Where do you plan to offer your service?
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Business Setup in UAE.

The United Arab Emirates (UAE) is a federation of the 7 emirates :
Dubai, Abu Dhabi, Sharjah, Ras al-Khaimah, Ajman, Fujairah, and Umm al-Quwain.

The UAE has the most diverse economy in the Gulf Cooperation Council (GCC) A nation that once depended on the export of its large oil reserves to sustain its economy now derives only a small part of its GDP from this sector, turning instead to trade and tourism for growth.

The UAE is one of the world’s largest business hubs, with Dubai, the country’s most populous city, serving as a premier international hub and a popular Travel destination for Businesspeople, Tourists, and Foreign Investors.

All of this is a result of the UAE government’s market-friendly economic policies over the past three decades, which have supported foreign investment, sustainable development, innovation, and research.

Economy

The UAE has an open economy with a high per capita income and an annual trade surplus.
Oil and Gas (about 30% of GDP).

The Business Climate

The UAE possesses and offers investors all the advantages of a highly developed economy. The infrastructures (airports, roads, hotels, etc.) and services (bank, telecommunications networks, etc.) meet the highest international standards

Labour Law

Labour Law in the UAE is administered by the Federal Ministry of Social Affairs and Labour. UAE Law No. 8 of 1980, as amended by Law No. 12 of 1986 (the Labour Law), governs most aspects of the Employer/Employee relationship (hours of work, holidays, termination, medical benefits, etc.)

Working Hours

A normal work week consists of 48 hours or eight hours per day. The weekend begins on Friday afternoon and ends on Sunday.

Holidays

Ten(paid) holidays are observed each year, among the many Muslim and Christian holidays. A new employee receives 2 days of leave per month after 6 months of probation. Upon completion of probation period, he/she is entitled to 30 days of paid annual leave. This in addition to public holidays, maternity leaves for women and other sick leave.

The Currency

In the United Arab Emirates, there are no exchange controls and its currency, the UAE Dirham, is freely convertible. Since 1977, the dirham has been pegged to the US dollar and its exchange rate has remained at US$1 = 3.675 AED.

The Different Types of Companies Formation in UAE.

Offshore

An Offshore company is a legal company whose main purpose is to operate outside its designated jurisdiction or location of ownership. Except in the United Arab Emirates.

 

Popular offshore authorities are RAKICC and JAFZA.

Freezone

The Free zones in the UAE are excellent locations to start your business! The free zone allows 100% foreign ownership and 100% Tax-free.

Popular free zones include DMCC, IFZA, DIFC, and more.

LLC

In the Emirates, the most popular type of company is an LLC.
A minimum of 2 shareholders and a Max of 50, whose liability is limited to their share in the Business.

Suitable for retail type activities Store, Restaurant, Cafeteria, Beauty salons and more.

Your Project, Our Accompaniment?

No worries, Our experts will assist you in making the right choice.

FAQ – Frequently Asked Questions

Do I have to have the physical premise for the offshore company?2022-11-14T13:58:33+04:00

Not necessarily; you can only incorporate your business without having any business entity in the UAE

What kind of company structure should I choose?2022-11-14T13:59:08+04:00

This depends on your needs, as well as the needs of your business. You could set up your company as a Sole Establishment (this is the same as a Sole Proprietorship), as a Limited Liability Partnership, a Limited Liability Company, a Private Limited Company, or a Professional Services Company.

You also have the option of setting up your company on the mainland, in a free zone (only limited liability company structures are permitted here), or offshore.

Can i open Offshore Account in International Bank ?2022-11-14T16:33:15+04:00

No! International banks such as HSBC, Standard Chartered Bank, Barclays, Citibank, … do not provide bank account opening services in Dubai for offshore companies.

Can i open Offshore Account in International Bank ?2022-11-14T13:58:17+04:00

No! International banks such as HSBC, Standard Chartered Bank, Barclays, Citibank, … do not provide bank account opening services in Dubai for offshore companies.

Which documents are accepted as proof of residence for offshore incorporation?2022-11-14T13:58:28+04:00

ID Card, UAE Residence visa, utility bills like gas bills etc. (most recent)

Freezone and Offshore company setup specialist in Dubai, UAE.

Empowering Business since 2011.

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