Here is a list of FAQ Business Setup for your convenience
How to set up a mainland company or an LLC in Dubai UAE?
In order to set up a mainland company or an LLC it is important for you to reserve your trade name and have approval for the products that you are going to deal in. You must also obtain Memorandum of Association for the company as well as submit lease contract and all other important documents in DED.
What should be the language for the application as well as all other accompanying documents?
Free zones acknowledge documents and all other application forms only in Arabic or English language.
To have a Dubai office is it compulsory to reside in Dubai?
No, Free Zones allow 100% foreign ownership in all cases. However, the majority of the Free Zones make it necessary that the General Manager of the company is a UAE resident. Due to this reason, most business firms prefer to apply for residence visa for at least one of the managers. We at All Time Business Setup Services can certainly help you with your visa application procedure.
Can I open bank account for setting up an Offshore Company in Dubai or any other emirate in UAE?
Yes, you can go ahead and open corporate bank account for your business in UAE or in any other part of the world to support your offshore business.
What are the distinct advantages of choosing business setup in UAE Free Zone?
- No corporate tax
- No dividend tax
- On-site inspection of customers
- Inexpensive and abundant energy
- 100% ownership for a foreign company
- Exemption from all export and import duties
- 100% repatriation of all capital and profits
- Companies registered in Free Zone can function 24 hours
- Skilled labor force that can work under competitive labor costs and can be easily recruited
What are the distinct advantages offered by mainland company formation?
When you choose to form a LLC or mainland company, you can carry on trade globally. It also allows you to have your very own office space. Here are some of the unique advantages that you can enjoy by setting up Mainland Company in the region of Dubai UAE.
- 0% taxation
- Low import duty
- No currency limitation
- 0% requirement of minimum capital
- No restrictions on the process of recruitment
What are the specific limitations associated with registering a company in the UAE Free Zones?
- A Free Zone Company cannot trade directly with UAE market
- A Free Zone Company can carry out trade within UAE through locally appointed distributors only.
- A 5% Customs Duty is applicable for all local businesses
- Employees having visas from the free zone companies can work from the office premises of the company or any other building located within the specific free zone only.
Let Us Guide You
What is a Free Zone Company?
Free Zone can be defined as a jurisdiction in which an individual from any nation of the world can own 100% of that business company. Such a company is also totally exempted from any export and import duties. There is also 100% repartition of profits and capital.
What is UAE Offshore Company Setup?
The term offshore actually refers to different jurisdictions that are labeled as offshore. These offer financial confidentiality to international business owners. They are also typically known for their bank secrecy laws as well as no tax on revenues, profits, inheritance, interest, income and capital gains.
Do I need to rent a warehouse or office in Dubai?
Most of the Free Zones need companies functioning there to have a corporeal existence. In majority of instances, a business should have legitimate lease for an office/ commercial space, a warehouse space or have a growth land if it is to obtain a license. Physical presence in a Dubai free zone can also be lucrative for purely tax reasons.
What is the main difference between setting up a business in Dubai Free Zone and some Non Free Zone?
Having Free Zone license can help you to obtain 100% ownership of company along with complete control over your business. The process of Free Zone company formation is also much easier and cheaper.
On the other hand, you can also get yourself a Non Free Zone business setup or a DED Mainland license. One of the major reasons why anyone would get such a license is that it allows you to operate freely in any part of UAE. With this form of company setup, a local sponsor is going to have 51% company ownership. Even then, some businesses work better with Non Free Zone license. Therefore the main difference between these two forms of licenses is that a Free Zone license restricts the business owner within the Free Zone only but a Non Free Zone license holder can easily move about the whole area.
To know more about which type of license would suit you best, you can always discuss your needs with our All Time Business Setup Services experts.
What is the minimum cost required for the setup of a small company?
At present, the cheapest company setup option is through Flexi-Office or E-Office with Northern Emirates business license. The startup costs are around AED 20.000 to 25.000 per annum. The total numbers of visas are typically limited to either 1 or 2. There is only one UAE free zone that currently offers E-Office support for up to five visas.
How can I set up a business in the mainland Dubai UAE?
The licensing procedure for a mainland business in Dubai happens in 3 stages.
- Firstly you will have to get initial approval for your business. You need to present an application for getting approval for all the activities that you plan on undertaking in your business. You will also have to provide with multiple options for your company’s trade name.
- The second phase is involved with making sure that all the legal requirements are perfectly met by an investor. All identification documents, documents of educational qualifications and financial statements will be authenticated by the relevant authority, i.e. Economic Department for all mainland companies and the Free Zone Authority for all free zones.
- In the final stage, the business premises will be verified for issuing license as well as processing investor visa.
Which are some of the best UAE Free Zones?
- Dubai World Central (DWC)
- Dubai Multi Commodities Centre (DMCC)
- Jebel Ali Free Zone Authority (JAFZA)
- Dubai Airport Free Zone Authority (DAFZA)
Which banks are most commonly used for UAE Free Zone Companies?
Noor Bank, Emirates NBD, ADIB and Mashreq are some of the most widely used banks for UAE Free Zone Companies.
Apart from the FAQ Business Setup presented above, if you have any more questions, you can get in touch with our professionals at All Time Business Setup Services any time you want.