Why should you Consider setting up a Business in Dubai?
ADVANTAGES OF COMPANY FORMATION IN DUBAI
Dubai is one of the most coveted places to set up a business because of its brilliant tax set-up, which makes it one of the most desired business destinations for investors from all prospective zones. There are almost 35 Free Trade Zones in Dubai, all of which have truly captivated investors from all around the globe. The chief benefit of company incorporation in Dubai is that they are exempt from trade barriers, quotas and taxes. Mentioned below are the main advantages of company formation in Dubai.
Strives to improve its legal framework to promote business friendly environment
There are about 20 free zones in Dubai all of which are exempt from corporate and personal tax for a period of 50 years
Lenient labour laws which makes it cost-effective to recruit labour forces
Liberal official rules and formalities
Recognised as the fastest growing cities in the world
Excellent physical infrastructure
REQUIREMENT TO OPEN A COMPANY
Number of Shareholder - Minimum two & maximum 50
At least one shareholder should be a local and have minimum 51% of shareholding
No minimum share capital required
Minimum 1 director
Passport and family book copy of the UAE national partner
Passport copy of the expatriate partner
NOC for the expatriate partner (in case he has an existing UAE residence visa)
Passport copy of the expatriate manager (in the case it is different from the partner)
NOC from the sponsor for the manager (in case he has an existing UAE residence visa)
If a company owns 49% partnership in the LLC, then the following corporate documents would be required – Moa, AoA, Certificate of Incorporation, Share Certificate and a Board Resolution (resolving to set up business operations in Dubai and for the appointment of representative and power of attorney for signing the documents on behalf of the company)
Passport copy of the representative of the company
Bank Account Opening
There is no specific time period for company formation in Dubai owing to the different kind of business entities whose time period varies. Nonetheless, it usually takes approximately 15 – 20 days to register a company in Dubai.