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Free Zones in the UAE are secluded sites or land which enjoy special privileges which can also be termed as special economic zones. In simpler terms, if you want to have 100 per cent ownership of your company, regardless of type of business, you need to opt for a license and location in one of the many free zones of UAE.
Free Zones are designed to encourage foreign investment with easier start-up processes, labour and immigration procedures, 100 per cent ownership for all nationalities and other legal services. Each free zone has its own authority and its own rules, which are applicable to investors looking to set up firm in those zones.
Advantages of Free Zone
The United Arab Emirates has gained the reputation of being a modest and significant player in the world of business with its rapidly developing infrastructure, investor friendly policies and political stability. Today, the UAE has one of the most open and dynamic economies in the world with its Tax free status. The historical win of the World Expo 2020 bid, has stimulated a major influx of investors and economic growth. Setting up a Mainland Company in the UAE avails an investor the opportunity to access the U.A.E local market.
Of all the forms of companies that can be established in the UAE, as provided for in the Federal Law, Limited Liability Company is the most common and easy to establish form. Also, known as a company with limited liability, it is a flexible type of enterprise that combines the features of a partnership and corporate structure.
The rules defining LLC company formation UAE as well as the steps involved are comparatively simple. According to the general rule for LLC company formation in Dubai and other six Emirates, it can be incorporated by a minimum of two and a maximum of fifty people whose liability shall be limited to their shares in the company’s capital. Furthermore, being a flexible form of company, differential profit sharing arrangement is also possible in an LLC. The company must have 51% participation from an Emirati while the rest 49% can remain with the investor.
Hence, the formal shareholding pattern for an LLC is as follows:
Moreover, either the UAE national or the foreign partner must be deciding the authority of managing the operations of the organization.
Capital requirement for a LLC company formation
At present, the minimum capital requirement for a LLC company formation UAE is LLC in Dubai is AED 300,000 and in other emirates like Abu Dhabi, Sharjah it is AED 150,000 which can be in cash or in kind. It is also important to note that the capital must be divided into equal shares with the value of each not being less than thousand dirhams. Furthermore, as stipulated in the UAE Federal Commercial Company laws, LLC can engage in any kind of business activity except to activities relating to banking, money investing on behalf of others and insurance.
What are the benefits of a LLC company formation?
A limited liability company in UAE offers seamless access to the wider Emirates economies. The following are benefits of establishing LLC in UAE: –
How to form LLC in Dubai?
In order to establish a LLC in Dubai, six basic steps must be followed: –
What N R Doshi & Partners offers?
At N R Doshi & Partners, we offer the most comprehensive LLC formation and consultation in Dubai. Our services include: –
A foreign branch office is the local representation of a company or establishment that is registered elsewhere in the world. This branch is obligated to engage only in the same or similar activities undertaken by the parent company. Under UAE law, a branch office is an extension of its parent company, and the parent company therefore remains responsible for any liabilities of the branch office in UAE.
WHAT IS THE DIFFERENCE BETWEEN BRANCHOFFICE AND REPRESENTATIVE OFFICE?
Branch Office: A branch office permits theinvestor to set up a full-fledged business that ispermitted to perform all activities similar to its parent company (depending on activities) asspecified in the license at time of incorporation.
Representative Office: A representative officeis strictly restricted to advertising and marketing of services and products that theparent company deals in.
Unlike a branch a representative office cannot conduct business operation or market its services and products. In order to engage a branch office to conduct its business operation in UAE it should obtain license from the Ministry of Economy and Planning. The licensed company should not start their activities unless it is registered in the Ministries register of foreign companies.
What N R Doshi & Partners offers?
Handle other documentation formalities
When it comes to money and business practices, there is really no internationally accepted standard or code of ethics that a government should follow in the management of its economy and the businesses within it This is major reason people setup an offshore company is to take advantage of international laws.
The Benefits of Setting up an Offshore Company
What N R Doshi & Partners offers?
The service offered by N R Doshi and Partners is the formation and official registration of an offshore company. These services are custom-provided upon the requirements of the client, who is also known as the “beneficial owner” of the offshore company.
We, being an offshore corporate service provider take care of the administration tasks necessary to maintain the offshore company in good legal health (also known as “good standing”) in the jurisdiction where it is registered. Offshore administration also known as secretarial service usually includes the provision of the Registered Address and Registered Agent for the company, dealing with the annual renewal formalities, engaged in preparing and filing the mandatory annual returns and reports (if any)and keeping and updating records of the company as the law prescribes or as the beneficial owner requests.
We also offerseveral optional services to enhance the confidentiality and functionality of the offshore company. Among such services are the provision of individual and corporate nominee directors, provision of nominee shareholders, power of attorney, mail and fax forwarding services, document custody and re-mailing services, telephone call handling services, bank account introductions and assistance with offshore bank account openings.
We as an offshore corporate service provider provide the best suitable tax advise and legal assistance.