Company registration in Dubai - in one of the tax havens
Registering a company in Dubai has enough advantages. This is a large financial center with favorable conditions for doing business. But before listing the advantages and features, you should start a small expedition.
One of the largest emirates, Dubai, with its population of 2 million, stretches for 72 km along the coast of the Arabian Gulf. In the UAE, this emirate is number one in terms of population and number two in size.
The main dominant languages are English, which is important, and Arabic.
Jebel Ali in Dubai is a huge free trade zone where the list of international corporations is growing steadily. Foreign businessmen usually use this zone for both production and redistribution points.
Dubai port is one of the most important ports in the Middle East and is among the ten best containers in the world.
Oil in the UAE is one of the main trump cards of a stable and highly developed jurisdiction. Oil production is concentrated in Abu Dhabi and Dubai.
In addition to the oil industry, there are no income taxes and no withholding tax in Dubai. Dubai has a number of agreements on the avoidance of double taxation, and also enters into a single customs zone.
Company registration in Dubai - offshore business sector
Dubai's economy is divided by a clear boundary between the onshore sector and the offshore sector. There are no taxes in Dubai, offshore or onshore, but 100% foreign ownership and customs privileges make the free zone one of the most profitable places in the Middle East for international operations. This attracts foreign investors to register a company in Dubai.
The banking sector in the UAE, or how to register a company in Dubai and at the same time open an account in the UAE
Since 1980, the Central Bank of the United Arab Emirates has been the main regulator in the tax haven. In 2017, there were 60 banks, 2.6 trillion AED assets, 1.6 trillion AED deposits and the same amount of loans. Most banks provide financing for trade, projects and consumers.
For entrepreneurs wishing to register a company in Dubai, there is a benefit in that commercial banks offer so-called short-term loans for 3-6 months at current interest rates and project loans for 5 years. In addition, local banks have established and well-established correspondent relations with international banks.
For those who want to register a company in the UAE, we offer services for opening a corporate account on favorable terms. With our help you can open an account in the UAE or in other countries. Below is a list of the main Emirates banks with which we cooperate:
• Mashreq Bank
• Emirates NBD
• United Arab Bank
Please note that these are the main banks. At your request, we can open an account in the UAE at other banks.
To register a company in the UAE and open an account, use any form of feedback! By contacting us, you will get rid of excess cargo and simplify the road to success. After all, the independent opening of a company in the UAE is fraught with difficulties.
Opening a company in Dubai - what are the types of companies in the UAE?
To open a company in Dubai, you must fulfill the main requirement. This requirement is to obtain a license:
• Commercial license, which covers most types of trading activities;
• Professional license, which covers professions, services, craftsmen and artisans;
• Industrial license - covers industrial or productive activities.
All of these licenses are issued by the Dubai Economic Department. It is worth paying attention that in order to obtain a license for certain categories of business, approval from government bodies is required. For example, for banking and financial institutions need approval from the Central Bank, for production - in the Ministry of Finance and Industry, etc. And now, what types of companies in the UAE exist?
Registration of a joint business in the UAE
A joint business in the UAE requires a local share of at least 51%. To register a joint business in the UAE, there is no need to license the company and publish the agreement.
Registration of open joint stock company in the UAE.
The requirement of the law is such that for a banking, insurance or financial activity it is necessary to register an open joint-stock company with the UAE or a closed joint-stock company. If you have your own such company and you want to set up an activity in Dubai - for this it is planned to open a branch or representative office.
Registration LLC in the UAE
Registration LLC in the UAE is possible, provided that the composition is not less than two people and not more than fifty. Their liability is limited to shares in the company’s capital.
The Companies Law provides that LLC may engage in any activity permitted by law, with the exception of insurance, banking and investment activities.
Registration of IBC in the UAE
Of course, the registration of IBC in the UAE is beneficial to foreign entrepreneurs who want to have a zero tax rate and operate internationally: with foreign partners, with foreign customers, suppliers and much more.
If you intend to register a company in Dubai, use any form of feedback! Please note that an independent attempt to carry out the registration procedure is fraught with difficulties up to the loss of time. Thus, only with our help you can successfully register a company in Dubai, getting rid of the difficulties.