1. Contact us for free consultation
United Arab Emirates law is diverse and offers many incorporation options, with ranging visa options. We provide existing and potential clients with free guidance regarding incorporation in the United Arab Emirates. Such guidance is useful for start-ups looking to enter this profitable market.
From free trade zones to local onshore companies, we ensure your compliance with the latest laws and regulations. Instead of spending time on administrative tasks and paperwork you can focus on managing your business with the help of information and guidelines provided to you by our team.
The benefits of incorporating in the UAE are:
- No personal tax for business owner
- A strong and reliable banking system provides a good banking environment with currency pegged to the US dollar
- Free movement of capital means no limitations on repatriation of capital and profits
- Although the UAE is not a tax haven, it is easy to serve a wide range of clients around the world by using UAE company formations.
- For all companies engaged in international trade, United Arab infrastructure and geographical location makes the United Arab Emirates a favourable option.
- In UAE, Construction industry is very strong that provides a huge market for all related activities to thrive
2. Options to select your business type:
You have numerous options to establish companies in the UAE, including onshore, offshore and free zone companies. The United Arab Emirates offers several incorporation options with respect to operating in various jurisdictions. Each jurisdiction has its own authority to grant trade license.
There is no need for unnecessary visits to submit or sign paperwork because on your behalf our team will manage all the work and only asks you for participation when it is essential.
We aim to provide the most relevant information, whether it is a general trading license, a professional trading license, an industrial license, a professional services license or any other type of incorporation.
As soon as you start dealing with incorporation in the United Arab Emirates many questions arise which need to be addressed properly, few of them are as follows:
- Should I form a company in free-zone or mainland? What are legal, commercial and tax implication of this decision.
- According to your areas of business and its supply chain, geographically which Free Zone is most suitable?
- What type of office space you may need to acquire required number of visas?
- Where to open bank account?
3. Receive license notification:
Once the required documents have been obtained and duly approved, the initial application process begins with the relevant issuing authority along with the registration of the legal name of the company.
After receiving the initial registration, Trade license (also called legal entity establishment certificate mainland)- commercial license is issued. Our dedicated Corporate Services Officer will guide you over this process. Here’s an overview of the different corporate structure options:
Limited Liability Company
- Flexibility to trade anywhere in UAE
- need a sponsor (this condition is now lifted for many activities)
- A foreigner cannot own more than his 49% of shares
- Office space required
- Residence visa is provided subject to license and size of office space
- Can open bank accounts in UAE
- Option to register with the Dubai Chamber of Commerce
Professional Company License (Mainland)
- Can only trade business in the license holder/administrator’s specific area of expertise
- Requires a local service agent
- Foreigners can own 100% of the shares
- Required office space
- Resident visa will be provided
- Can open bank accounts in UAE
Free Zone Company
- Can only be trade within designated free zones and elsewhere in the world
- All goods leaving the free zone destined for other parts of the United Arab Emirates are subject to a 5% custom
- Local Sponsor is not required
- 100% shares can be owned by Foreigners
- Resident visa will be issued
- You need office space within a free trade zone. This is mandatory
- Can open bank accounts in UAE
- Can join the Chamber of Commerce through the affiliated offices of each Free Zone
Offshore company
- Can only be trade outside the United Arab Emirates
- No residence visa will be issued
- No local sponsor required
- 100% shares can be owned by Foreigners
- You may have a bank account in the United Arab Emirates (with limited options)
- You may have a bank account in other parts of the world
4. Visa Processing & Stamping
Next step in starting a business is arranging visas for you, your employees, and their dependents. Before you can get a residence visa in the United Arab Emirates, you need to complete some mandatory procedures. We will guide clients through the immigration procedures of the United Arab Emirates.
The residence visa process begins when the company is officially established in one of the UAE’s jurisdictions. This is a simple process that involves a medical examination is compulsory for residency.
Once your residence visa has been approved, and medical as well as biometric is done. You will receive an Emirates ID card. Owner of the business also need Emirates ID to open bank account.
Our dedicated Corporate Services Officer is always available to assist you in the process and make is as smooth for you as possible.
5. Bank Account Opening:
A bank account is required to start trading in the United Arab Emirates. There are various banks such as Emirates NBD, Emirates Islamic, Mashreq, RAKBANK, Ajman Bank etc. Which one is right for you, depends on your specific needs.
In UAE, it usually takes two to four weeks to open a bank account. Banks want to know your main business activities, expected transaction volume and total deposits, sales levels, and top customers and suppliers.
When the documents are issued by the government, you will have all the documents you need to contact the incorporation bank of your choice. We can help you in choosing right bank and right package.
The financial institutions that we recommend, generally provide the following facilities:
- Multi-currency account
- Electronic banking
- Trading Currencies, Stocks and Other titles (optional)
- Interest bearing account
- Credit card and debit card (Subject to approval)
- Letter of credit (Subject to approval)
- Working capital (Subject to approval)
With years of experience in this field, we choose banks that are safe, provide excellent service and offer a wide range of banking functions.
How we decide our banks?
We consider other important characteristics before choosing a bank.
- Bank secrecy to protect customer privacy
- To avoid the risk of bankruptcy, ensure financial guarantee
- Reputation of the institution
- Extensive range of financial products
For company setup and business plans in UAE, contact finnection via email at info@finnection.ae or call us at our toll free number +971 800 0120070
Disclaimer: Above information is subject to change and represent the views of the author. It is shared for educational purposes only. Readers are advised to use their own judgement and seek specific professional advice before making any decision. Finnection is not liable for any actions taken by reader based on the information shared in this article. You may consult with us before using this information for any purpose.