Company formation in Dubai – SK Patodia

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 more than 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

  • The free zones in Dubai are exempted 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

(Note: You can establish your presence in the UAE mainland, or in one of the many UAE free zones. Additionally, foreign investors may also enter into a joint venture with a local business or do business in the UAE Mainland via an authorized distributor/ agent.)

REQUIREMENT TO OPEN A COMPANY

BASIC REQUIREMENTS

  • FZE – 1 shareholder; FZC – 2 to 10 shareholder.
  • There are no mandatory requirements for a paid up capital. However, the capital mentioned in the Articles of Association will be AED 150,000; In case, the company will be in the Mainland, the share capital will be AED 100,000
  • Virtual office/ office space is Compulsory
  • Minimum 1 and any person can become the director/ manager
  • The Director/ Representative of the company need to visit Dubai for the bank account opening process and security approval

DOCUMENTS REQUIRED

Individual Shareholder

  • Application forms duly signed by the authorized signatory.
  • Passport Copy of the UBOs/ Shareholders/ Directors.
  • Copy of National Identity Card/Aadhar Card of the UBOs/ Shareholders/ Directors.
  • Most Recent Utility Bill/ credit card statement/ bank statement with name and residential address of the UBOs/ Shareholders/ Directors.
  • Curriculum Vitae (CV) /Profile of the UBOs/ Shareholders/ Directors.
  • One color photograph for each UBO/ Shareholder/ Director/ Partner/ Manager.

Corporate Shareholder:

  • Applications forms duly signed by the authorized signatory.
  • Certificate of Incorporation of the corporate shareholder (mother company).
  • Memorandum & Articles of Association of the mother company.
  • Board Resolution detailing the formation of the branch or the subsidiary nominating an authorized manager.
  • Passport Copy of the UBOs/ Shareholders/ Directors.
  • Copy of National Identity Card/Aadhar Card of the UBOs/ Shareholders/ Directors.
  • Most Recent Utility Bill/ credit card statement/ bank statement with name and residential address of the UBOs/ Shareholders/ Directors.
  • Curriculum Vitae (CV) /Profile of the UBOs/ Shareholders/ Directors.
  • One color photograph for each UBO/ Shareholder/ Director/ Partner/ Manager.

(Note: The documents can be attested by the UAE Embassy in the company’s country of origin followed by the Ministry of Foreign Affairs in the UAE)

OUR SERVICES

Incorporation Services:

  • Trade License.
  • Certificate of Incorporation.
  • Share Certificate.
  • Memorandum of Association.
  • Articles of Association.
  • Office Rental Agreement.
  • Assistance in the Corporate Bank Account Opening Process.

Other Maintenance & Compliance Services:

  • Renewal of the Business Trade License

TIME PERIOD

There is no specific time period for company formation in Dubai owing to the different kind of business entities whose time period varies. Immigration Services including Establishment Card and Visa related timelines may vary according to nationality and individual immigration file on record with authorities. Nonetheless, having received all the documents as requested in order, the incorporation documents can be obtained within 24 hour time (after security clearance).
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