Company registration in Dubai – An Overview
Every businessman in the world has a dream of starting his own company in Dubai but the process for the same is not easy. In this Article, we will learn about how to register a company in Dubai. Strict rules and regulations by the government and tedious process make company registration in Dubai a difficult and troublesome task.
Obtaining a trade license is mandatory for starting any business activity in Dubai. The concerned authority which is responsible for issuing local Dubai company licenses is the Economic Development Department, functioning in different locations.
The different types of trade licenses issued in Dubai include –
- Commercial Licenses – Issued to companies engaged in trading activities.
- Industrial Licenses – Issued to the companies engaged in manufacturing.
- Professional Licenses – Issued to the companies working as service providers, professionals, artisans, and craftsmen.
What are the different types of companies which can be incorporated in Dubai?
There Are Numerous Types Of Entities Which Can Be Incorporated In Dubai Such As-
- Limited liability companies,
- Private and public joint stock companies,
- Branch offices,
- Free zone limited liability companies,
- Free zone establishments.
Limited Liability Company(LLC)
In the Limited Liability Company, the liability of the shareholders is limited to their capital. The maximum number of shareholders in an LLC in Dubai is 50 and minimum is 2. Except for insurance, banking, or monetary investment, the company can carry any business activity.
An onshore company is a business arrangement which is formed and managed within the jurisdiction of the company. There are numerous perks of having an onshore company which include favorable regulation, taxation policies for companies operating outside of the jurisdiction, broad networks of tax treaties, developed business, banking and supporting sectors, etc. Registration of the onshore company in U.A.E. is crucial and beneficial. Generally, owners manage their business by sitting at their native place, but with the Onshore company, one can easily have the working office and can manage them efficiently.
An Offshore Company is a legal business configuration that is formed and managed outside the jurisdiction of the company.
Benefits of setting up your business in Dubai Free Zone are:
- 100% exemption from taxes on personal or corporate income.
- Complete ownership for investors regardless of their nationality and domicile.
- 100% repatriation of capital and profits.
- Exclusion from all import and export duties .
- Exemption from all the corporate taxes for 15 years, with a renewal option for 15 years with no requirement of deposit of capital.
Documents required for registering a company in Dubai
- The articles of association of the company which should contain information about the shareholders, directors and business activities of the company.
- Translated and notarized copies of the passports of the shareholders and the directors of the company.
- Duly completed forms issued by the Trade Registrar.
- Registration in Dubai can be complicated hence it is advisable that you seek the assistance of an expert company registration consultant to proceed with your registration.
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