United Arab Emirates
The UAE is one of the most popular destination for business in GCC. It offers favorable business environment and competitive taxation making it attractive for investors looking to expand their operations or enter new markets.
Why choose UAE?
In recent years, the UAE has become an attractive destination for international businesses due to its high reputation, digitized business environment, and continuous legislative liberalization aimed at attracting foreign investments.
One of the key advantages of conducting business in the UAE is its strategic location. Situated at the crossroads between Europe, Asia, and Africa, the country serves as an ideal hub for businesses seeking access to international markets. Moreover, the UAE is positioned at the center of major global trade routes, making it an important global trading hub.
The UAE offers an appealing environment for businesses aiming to maximize profits, thanks to its low corporate tax rate and absence of personal income tax. The country also boasts numerous free economic zones that offer 100% foreign ownership and exemption from corporate tax.
Furthermore, the UAE government has entered into multiple double taxation avoidance agreements with other jurisdictions, further enhancing the efficiency of doing business in the country.
One of the key advantages of conducting business in the UAE is its strategic location. Situated at the crossroads between Europe, Asia, and Africa, the country serves as an ideal hub for businesses seeking access to international markets. Moreover, the UAE is positioned at the center of major global trade routes, making it an important global trading hub.
The UAE offers an appealing environment for businesses aiming to maximize profits, thanks to its low corporate tax rate and absence of personal income tax. The country also boasts numerous free economic zones that offer 100% foreign ownership and exemption from corporate tax.
Furthermore, the UAE government has entered into multiple double taxation avoidance agreements with other jurisdictions, further enhancing the efficiency of doing business in the country.
The process of setting up a company in the UAE can vary depending on the type of company and the location. However, here are some general steps that are typically involved in setting up a company in the UAE:
1
Determine the type of company
There are different types of companies that can be set up in the UAE, such as a mainland company and free zone company. We will help you choose the type of company that suits your business needs and objectives.
2
Choose a unique trade name
Choose the business activity that you want to engage in and select a unique trade name for your company. When filling out the form we will expect you to provide us with 3 alternatives.
3
Decide on the location
Decide on the location of the company and obtain a lease agreement or a tenancy contract. Depending on the type of business and location there may be different requirements, but we will provide you with the legal address.
4
Obtain initial approvals
Obtain initial approvals from the relevant authorities, such as the Department of Economic Development, the Ministry of Economy, or the relevant free zone authority.
5
Prepare the legal documents
Prepare the legal documents required to set up your company, such as the Memorandum of Association (MOA) and Articles of Association (AOA).
6
Submit the application
Apply for a license from the relevant regulatory authority, such as the DED, Free Zone Authority, or the Department of Tourism and Commerce Marketing (DTCM).
7
Obtain the applicable license
Once the application is approved, obtain the trade license from the relevant authority.
8
Apply for a bank account
Apply for a corporate bank account with a local bank, such as Emirates NBD, CBD, MISR, Sharjah Islamic bank.
9
Plan your visit to UAE
We will finalise all procedures such as opening a bank account, medical check and obtaining an Emirates ID.
Launching a project in the UAE?
Shall we discuss the details? Make an appointment for a zoom meeting or contact us by email
Documents required to establish a company in the UAE
The documents required to set up a company in the UAE may vary depending on the founder, type of company, business activities and location. Nevertheless, we have prepared a list of common documents required to set up a company in the UAE.
Required Documents for Individual shareholder:
- Passport / ID copies of all shareholders and directors are required for registration.
- Passport size photo (digital);
- Proof of address for all shareholders and directors. This can be in the form of a utility bill or tenancy agreement.
- Power of attorney (POA): A power of attorney is required if the business owner is not present in the UAE and needs to appoint a representative to act on their behalf.
- Bank reference letter: A bank reference letter is required to confirm the financial standing of the business owner and shareholders.
- Bank statement for the past 6 months: required for all shareholders.
- Lease agreement: A lease agreement is required if the company is renting an office or commercial space.
- Business plan: A business plan is required for certain types of companies, draft will be provided.
Required Documents for Corporate shareholder:
- Certificate of incorporation: A certificate of incorporation is required from the parent company.
- Extract from the register of companies
- Articles of association of the parent company
- List of shareholders of the parent company
- Board resolution: A board resolution from the parent company authorizing the establishment of a subsidiary in the UAE is required. We will provide the draft.
- Passport / ID copies: Passport copies of all shareholders and directors.
- Bank reference letter: A bank reference letter is required to confirm the financial standing of the parent company and shareholders.
- Bank statement for the past 6 months of the parent company;
- Audited financial report for the past financial year;
- Lease agreement: A lease agreement is required if the subsidiary is renting an office or commercial space.
- Business plan: A business plan is required for certain types of companies, such as those applying for a trade license or an industrial license.
- Power of attorney (POA): A power of attorney is required if the business owner is not present in the UAE and needs to appoint a representative to act on their behalf.
Ready to take the first step towards your UAE company? Just fill out the application form
How companies are taxed in UAE?
Due to recent international tax developments, the UAE Government has introduced Federal Decree No. 47 on Corporate and Enterprise Taxation, effective from July 1, 2023, which establishes a new taxation system introducing a corporate tax of 9%. However, freezone companies will be able to continue to enjoy zero taxation if certain conditions are met
- 0%on taxable income not exceeding AED#375,000
- 9%on taxable income exceeding AED#375,000
- 5%VAT on sales within the territory of the UAE
What we do
Company formation
Our services encompass providing guidance and assistance for conducting business operations in the UAE. We offer comprehensive support throughout the registration process, which involves selecting the optimal location (freezone or mainland), preparing incorporation documents, obtaining licenses and permits, and providing ongoing business support.
Bank account opening
We offer comprehensive support in opening a bank account in the UAE, which includes preparing all the required documents, filling out banking forms, arranging meetings with bank representatives, and providing on-site guidance throughout the process.
Tax advice and compliance
We assist businesses with complying with relevant tax and regulatory requirements in the UAE and ensuring that the business practices are in line with local laws and regulations.
Drafting and reviewing of contracts
We provide assistance with the drafting, reviewing, and negotiating of various types of commercial contracts.
Intellectual property protection
We advice on the registration, protection, and enforcement of intellectual property rights, including trademarks, copyrights, patents, and trade secrets.
Wills and succession planning
We provide guidance to expats and investors who own property in the UAE regarding the process of passing it on as an inheritance.
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