Jotwani Associates assists individuals and corporations to incorporate a Company in UAE and open a bank account. We have extensive expertise in setting up Mainland Company and Freezone Company in UAE. The first stage in company incorporation in the UAE is deciding whether to create a Mainland or Freezone company.
Mainland Company: is an economic zone monitored by the Department of Economic Development (DED). In the case of Mainland Company, one needs to have a physical office with a minimum required space of 200 square feet. A sponsor, who is a UAE resident, is required for the establishment of a mainland company. The shareholding pattern will differ between Trade and Service Activities. In a Trade Activity setup, for certain activities, the shareholder (UAE national) would own 51% while the expat shareholder would own 49%. On the other hand, in a Service Activity setup, the foreign national would be able to own 100% of the company.
Freezone Company: is a special economic zone providing regional benefits. An independent government or non-government free zone entities monitor Freezone Companies. Business setup in Freezone can be owned by 100% foreign ownership. In the case of Freezone Company, one can have a virtual office, as the requirement of a physical office is not mandatory.
Businesses will be liable to UAE Corporate Tax beginning with their first fiscal year that begins on or after June 1, 2023, in accordance with UAE Federal Decree-Law No. 47 of 2022 on Taxation of Corporations and Businesses (“Corporate Tax Law”).
The following information will be required from your end to incorporate a company in UAE.
DOCUMENTS REQUIRED IN CASE OF INDIVIDUAL/ HUMAN BEING ARE THE SHAREHOLDER/ OWNER OF THE COMPANY
At last, please confirm if you (who shall be the licensed manager, director and secretary of the company have travelled to Dubai in the past — if yes, then please share a copy of the last tourist/visit visa page in clear colour PDF format.
Estimated time: Approximately as below.
The Certificate of Incorporation is one of the most crucial documents when starting a business in the United Arab Emirates (UAE)/Dubai. An incorporation certificate is a document that is issued by a regulatory agency or governing body that certifies the establishment of a company or business. The documentation is issued by the United Arab Emirates’ Department of Economic Development (DED) or the Free Zone authorities where the company is based.
The Certificate of Incorporation, to put it simply, attests to the business’s legal standing. It proves that the company was legally established and registered in compliance with UAE/Dubai laws.
In the United Arab Emirates (UAE) or Dubai, companies must have a Certificate of Incorporation to do business. This certificate is necessary for various activities like opening bank accounts, renting offices and getting permits for directors, shareholders and employees. It is also needed for receiving contracts.
The main advantage of having a Certificate of Incorporation is that it protects companies from individual responsibility. This means that board members and shareholders are not personally liable for any financial or legal problems the company might face.
One other advantage of possessing a Certificate of Incorporation is that it makes ownership transfers easier. This simplifies the process, particularly for businesses that have share structures.
In the UAE/Dubai, obtaining a Certificate of Incorporation might be difficult. Businesses can make mistakes, even in the case of the most careful planning. When applying for an incorporation certificate, you can save time, money, effort and resources by avoiding the frequent blunders.
Including missing or inadequate documentation with an application is one of the most frequent blunders. Always adhere to the checklist that the DED or Free Zone administration provides. Also think about consulting with professionals that are knowledgeable about the company registration procedures in the UAE/Dubai, such Trade License Zone.
Another typical error to avoid is selecting a business name that is already in use or goes against UAE/Dubai naming conventions. This can result in an instant refusal. Make sure a business name complies with the unique naming conventions of the United Arab Emirates by thoroughly verifying its availability before deciding on it.
The highly skilled staff at Jotwani Associates is prepared to assist you in this process so that you can save time, money, effort and resources. Reach out to us right now.
In Dubai/UAE, there are a total of three primary categories of company structures i.e. offshore, free zone and mainland corporations. Every structure has benefits and drawbacks of its own. Therefore, it is critical to select the best one for your company.
UAE/Dubai corporate tax and other laws apply to mainland businesses. They are nevertheless able to own property on the mainland and operate freely within the United Arab Emirates.
Companies operating in free zones are exempted from UAE corporation tax and other laws. They are unable to own land on the mainland, though, and can only transact within the free zone.
The UAE does not impose corporate tax or other laws on offshore enterprises. Anywhere in the world, they are able to trade freely.
It is necessary for you to register the Department of Economic Development (DED) with your business name. The name must be original and cannot be the same as the name of any other company that already exists.
Your company activity will determine the kind of license you require.
To live and work in UAE/Dubai as a foreign investor, you must get a visa. Additionally, your staff will require visas.
For your company, you will require a workplace, either through lease or rent.
To manage your money, you will need to build up an accounting and financial reporting system.
You must market your company to draw clients after it is up and operating.
The requirements for setting up a business in Dubai, United Arab Emirates (UAE), differ based on the nature of the enterprise and the free zone or mainland where the business is to be registered. But a few of the standard requirements for eligibility are as follows: