Uae offshores

In the past few decades Dubai has emerged as the business hub of the Middle East. Situated at the strategic north-eastern region of the UAE Dubai has marked itself as one of the fastest-growing economies of the world with real estate, tourism, trade, and financial services contributing extensively to its GDP. It has attained the reputation of being the biggest trading hub in the U.A.E. and it is mainly due to the availability of outstanding business locations and a business friendly environment― ease of setting up businesses, supportive operating conditions, asset protection, limited liability, utmost privacy and large tax exemptions.

Apart from the above, the unique policies of liberalization offered by Dubai has provided businesses a tremendous growth trajectory. Dubai offers an open market trading environment to businesses with no hidden trade barriers, restrictions, or quotas that may hinder their growth. Perhaps the best part is Dubai can easily be accessed from both air and sea what makes it the most business-friendly location in the middle-east.

In the last three decades, Dubai has witness tremendous development and took a leap from an oil-exporting economy to an extensive business economy. No doubt, Dubai has earned the reputation of being the best choice of all kinds of business owners and foreign investors. Due to its strategic location and business-friendly government policies, Corporates have shown immense interest to set up their businesses in Dubai.

• Ease of Doing Business
  Setting up a new business in any part of the U.A.E is easy and straightforward. Perhaps, this is the reason why U.A.E has been able to earn the 16^th place on the Ease of Doing Business rankings given by the World Bank. If an entrepreneur has got all the required documents approved, then setting up a business in Dubai doesn’t take more than a week. Another factor contributing to the high ranking of the U.A.E in Ease of Doing Business rankings is the number of free zones that the government has allotted to Dubai. These free zones permit complete foreign ownership, complete repatriation of profits earned in the course of business, and attractive tax exemptions.
• The Open Market matched with Low Taxes
  The government and regulatory bodies under the government hardly interfere in the activities of private firms in Dubai. The best part is, there is zero taxes on personal income. Dubai is based on a free-trade economy and the import duties are also insignificant. In respect to the labour policies, Dubai has liberal policies. This has enabled companies in Dubai to employ employees from any part of the world irrespective of their nationality. Moreover, Dubai offers high security from frauds and money laundering. This has enabled foreign investors to make investments in a risk-free place without anything to worry about.
• World-Class Infrastructure
  Dubai has an important advantage due to its highly advanced infrastructure. The world-class airport and well-connected seaports are capable of handling thousands of passengers on a daily basis. Moreover, the vast network of highways facilitates easy transportation of goods and traveling between different parts of the U.A.E. The telecommunication infrastructure is prominent and uninterrupted power supply and loads of amenities provide a good base for any kind of business.
• Highly Accessible Location
  Being located at a strategic position, it falls in between Africa and the Commonwealth of Independent States (CIS). Similarly, its position is also prominent in terms of the Far East and Europe. At least 85 airlines are continuously operating in Dubai and the connectivity of these airlines covers more than 130 destinations globally. Similarly, Dubai is also connected by more than 120 shipping lines to major ports of the world.
• High Standard of Living
  The overall life in Dubai is comfortable. It hosts a large number of foreign residents belonging to various cultural backgrounds and it makes Dubai one of the most diversified cities in the world. Leading the world in real estate, housing facilities, educational institutions, and recreational activities, Dubai is one of the most preferred location to live, matched with its low crime rates in the world.

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Certainly there are many reasons to set up a business in Dubai and setting up a business here is a simple and involves a smooth process provided that you have the contacts who may help you understand the process and its requirements. All it requires is due verification of documents which is followed by a few legal formalities and then business owners are all free to set up their businesses in Dubai.

The following steps are involved in the process of setting up a business in Dubai:

• The first and the most important requirement is to get a local sponsor. The local sponsor has to be a U.A.E national.
• Once you get a sponsor, the next step is to obtain a NOC from the local sponsor.
• Declaration of Memorandum of Association (MoA), which includes the basic conditions on which the company or the firm will be carrying out its business. For example: The business the company is involved in, Capital investment, Issuance of shares, etc.
• Initial approval from the Department of Economic Development (DED), Dubai.
• After the DED grants initial approvals, the company is required to get itself registered under a unique trade name.
• Once the trade name of the business is registered, the owner/ president is required to arrange a physical office space for the company.
• The next step is to make application for a trade license.
• Once a trading license is received, the business will be set up within a week.

It is perhaps one of the most critical decision that a business owner has to make while planning to set up a business. There are a few aspects that are required to be considered:

• You get complete ownership of your company or firm.
• You are able to avail the maximum tax benefits.
• The location is convenient as well as economical.
• The location supports the strategic goals of your business.

In general, the Dubai Mainland is an idle point for the Entrepreneurs starting a business related to the following niche of businesses:

• Real Estate
• Hospitality
• Education
• Retail

The popular Business Locations in Mainland Dubai that have become the financial points of the Emirate:

• Shaikh Zayed Road
• Business Bay
• Jumeirah
• Al Qusais
• Al Quoz
• Deira
• Bur Dubai
• Al Karama

1. General Partnership:
   A general partnership company requires to be set up by two or more persons in partnership. The partners must be Emirati nationals and will be equally liable for the debts of the company. The interests of each partner’s interest could be recorded in the partnership agreement which is subjected to dissolve in the following cases:
   • The death of a partner
   • Bankruptcy of a partner
   • Withdrawal from a partner
   • Insanity of a partner

   Further, partnership companies in Dubai are divided into three categories:

   • General partnership
   • Simple limited partnership
   • Partnerships-en-comandante
2. Public Shareholding Company:
   This type of establishments is also known as Public Joint Stock Companies. The overall capital is divided into equally among the shareholders. In order to open a Public Shareholding Company, it is required to have at least 10 founders. The minimum capital input required for PSCs is AED 10 million. The minimum requirement is of three board directors. Another essential requirement is that the Chairman of the board and the majority of directors must be Emirati nationals. As per the rules only 35% of the share capital should be held by the founders and the rest of the capital has to be offered to the public. Each member is liable only for the share value that is under his hold.
3. Private Shareholding Company:
   A Private Shareholding Company is almost similar to that of the public type. The applicant company need to have at least 3 shareholders to get registered as a Private Shareholding Company. The only difference is; the shares are not offered to the general public. It is highly essential and necessary to express in the documents if any share is intended to be made available to the public.
4. Limited Liability Company:
   The LLC is one of the most common types of business incorporation in Dubai. These companies are required to be set up in the Dubai mainland area. An LLC license is basically a permission to you to have complete operation rights within the U.A.E. There is a minimum capital requirement for this type of companies which also depends on the niche of the business. For the establishment of an LLC, one is required to have physical offices in the U.A.E. while foreign owners can hold at most 49% of the shares in an LLC.

There are mainly two areas in Dubai where one can set up his or her business. The costs vary considerably for these locations. The other factors that have their impact on the costs are the kind of business license you desire to obtain and the niche of business you want to set up/ company you want to form.

• Applicable rents for setting up an office in Dubai
• Department of Economic Development (DED) Fee
• Applicable charges on acquiring a mainland trade license
• Administrative Fee
• Contracting license charges (One-Time)
• Fee charged by the real estate broker

For LLC companies, the owners may also have to incur investor visa charges and employee visa fees if required. The investor visa costs in U.A.E. costs about 3200 AED which also includes basic insurance, medical and Emirates ID whereas on an average, the cost of hiring a foreign employee costs somewhat in between 7000 to 7500 AED which includes insurance, medical facilities and residency card.

To conclude, Dubai as a business hub has exciting investment opportunities for you and all it takes is setting up a business in Dubai which we make easier and hassle-free. Whenever and in whatever process you need any assistance in regards to setting up a business in Dubai, please feel free to contact us!