How to open a company in the UAE in 2020?
The United Arab Emirates is a federal state in the Middle East with 7 emirates. This jurisdiction is one of the fastest growing, so it is profitable to open a company in the UAE in 2020. The government promotes business development, attracting investments from abroad.
The advantages of starting a firm
The UAE is one of the world's largest business centers. Jurisdiction is attractive to investors and businessmen, has global transport connections and encourages start-ups.
What are the advantages of opening:
- The territory is optimal for commercial contacts;
- Ports are equipped for product transportation;
- The economy is developing rapidly;
- There are tax-free zones;
- Flexible tax policy;
- The situation in the country is stable on the economic side;
- There is no currency control;
- The state supports foreign business development;
- The establishment of the company gives the right to obtain a resident visa.
Thus, the opening of the company in the UAE in 2020 is a promising solution, given that there are many advantages of business development in the Emirates. Many opportunities for foreign investors are offered. You can find first-class residential and office buildings in the UAE. To start a business in the UAE, please contact our specialists at IT-OFFSHORE.
Main legal forms
Recently, tourism and a diversified economy have made the Emirates attractive for investment from abroad. Registering firms in the free zones allows foreign businessmen to own and operate a firm without attracting local shareholders.
Several types of companies can be registered in the jurisdiction. It is possible to develop a company outside the free zone (local firm). These companies are used to trade in the local and foreign markets.
A free-zone company may be fully owned by a foreign person and does not require a local partner. Such firms do business within the free zone or outside the jurisdiction. Offshore entities may be fully owned by foreign owners.
Features of opening
You can create a local company in any of the seven emirates. You must first select the type of commercial activity. Each company must have a real existing office.
Starting a business in the free zone is much easier than developing a local company. The administration of such zones usually requires much less information, and registration is conducted faster. In order to operate, the company must have a special license, which has to be renewed annually. There should be an office in the special zone, a manager, a and shareholder. The firm may not trade outside the zone without a local distributor. You can learn more about the features of registration from our specialists at IT-OFFSHORE.