Dubai is one of the most prosperous and cosmopolitan cities in the Middle East, combining the elements of both the East and the West. It is one of the most favorable business hubs the world over. Over the past decade, Dubai has attracted millions in LLC (Limited Liability Company) Company formation in Dubai. Most of the investors prefer to set up a Limited Liability Company or LLC Company formation in Dubai.

The standard type of company in the UAE mainland is the Limited Liability Company (LLC). The DED is the government body authorized to issue all licenses for LLCs and is responsible for classifying and regulating the types of economic activity that may be undertaken. Limited Liability Company (LLC) is the most common form of business in the UAE. A Limited Liability Company can be formed by a minimum of 2 and a maximum of 50 shareholders whose liability is limited to their shares in the business capital. Dubai limited liability companies allow foreign citizens to own 49% of its shares, while 51% must be brought up by a local sponsor or partner. There are no minimum share capital requirements to register a limited liability company in Dubai, except for the sufficient capital test enabled by the Department of Economic Development (DED). In this case, DED decides if the capital subscribed by the founders is sufficient for the undertakings they intend. Another requirement for a Dubai limited liability company is the managerial ones. Under the Dubai company Act the company must have between one and five managers. The incorporation procedure of a limited liability company in Dubai is quite simple requiring a few steps to be completed. Another advantage of the Dubai limited liability company is that it can be registered for any commercial purpose. Another added advantage is that the tax authorities depending on the country, consider the Limited Liability Companies as partnerships when calculating and imposing various taxes. The owners of a Limited Liability Company are called members which is synonymous with the term shareholders.

Here are the steps to register an LLC in Dubai.

1. Registering the company with the Department of Economic Development (DED)
2. Drafting and notarizing the company’s Memorandum and Articles of Association
3. Submitting all the required documents and business license application form with the Department of Economic Development. The required documentation will vary greatly depending on the type of business activity, including but not limited to:

• Certified passport copies for all shareholders and managers;

1. • Copy of the UAE residence visa, if applicable;
   • No Objection Certificate (NOC) from the current UAE residence visa sponsor;
   • 2 x Certified proofs of address for each shareholder;
   • 1 x Signed Sovereign Application Form;
   • 1 x CV for each shareholder;
   • 1 x Professional / bank reference letter for each shareholder.

4. If the shareholder is to be a corporate entity, the required documentation will include:

• Memorandum and articles of the company;

1. • A board resolution agreeing to incorporate a new LLC in UAE;
   • A power of attorney (POA) to the General Manager to incorporate the new LLC.

5. Registering with the Dubai Commercial Register
6. All documents must also be translated into Arabic by an official translator before they can be presented to the authorities in the UAE
7. Upon incorporation, registering one’s employees with the Ministry of Labour and General Authority for Pension and Social Security

Setting up a limited liability company in Dubai comes with various advantages, especially for foreign investors. It has correspondents in most countries in the world, therefore it is a popular business form. Dubai LLC offers unrivaled access to the wider UAE economy. It offers access to all industries in Dubai and the UAE, for those interested in starting a business here. Any type of business license can be obtained by registering a limited liability company. When setting up in a Dubai free zone, the limited liability company will offer full ownership to a foreign investor. There are no share capital requirements related to opening an onshore limited liability company. It is easy to register and to open a local bank account for, however, a local agent must be appointed for the incorporation procedure.

At Impressive Companies Representation, we provide complete assistance for clients who are interested in LLC company formation in Dubai. Our business consultants clearly understand your requirements, your budget, nature of your business activity, complete details of your partners, and give complete assistance in LLC Company formation in Dubai. Our team will provide the best advice when it comes to determining the most suitable consultant for your business.

contact us for options, pricing, and further information.

Tags: business setup in uae, company formation in uae

UAE offers an awesome lifestyle and a host of benefits and opportunities. UAE can be even titled as the Business capital. Many have come and left this place. A few have survived. Those who survived the climate met the expenses, outlived the hardships have always a successful entrepreneur saga to sing. As I told it isn’t easy to survive in a country like Dubai since it is not always possible or convenient for business owners to reside here. With careful planning and expert guidance, you can run a business from outside the Emirates and still benefit from much of what the country has to offer.

You don’t have to be a full-time resident in the UAE to own a company here. In fact, living abroad is no barrier to become successful in the UAE. Most UAE business owners choose to reside in the UAE to make the most of the amazing amenities, attractive business incentives, and thriving communities. But if full-time residency doesn’t meet your expectations regarding your lifestyle, you can still reap the rewards of owning a business from a different place. You just need to take care of a few important issues such as time spent in the UAE, tax implications and power of attorney.

If you know how long you want to stay, you can apply for an apt visa. In most cases, you will require a visa or entry permit which specifies how long you need to stay. So, first of all, understand the purpose of the visit and how long it takes and then apply for the Visa. So, it’s really important to understand different visa requirements. The exact amount of time needed for a UAE Business owner to spend in his business management in Dubai changes from entrepreneur to entrepreneur. If you have a good team in your UAE office it’s okay even if you don’t make a visit once in a while. But genuinely speaking, if you are a person who needs your hand everywhere it’s better visiting your office occasionally.

Citizens of GCC countries (Bahrain, Kuwait, Oman, Qatar, and Saudi Arabia) do not require a visa to enter the UAE and only need to show their passport/ID at their port of entry. Citizens from the US, China, Australia, the UK, and 16 other designated countries can get a 30-day visa on arrival. Those from 40 other listed countries can get a 90-day visa, as detailed on the official UAE government website. Anyone outside the GCC and who is also not eligible to apply for a visa will be required to obtain an entry permit prior to arrival. This requires a sponsor which will usually be an Emirati citizen, an expat with a valid permit, a private company, or a free zone.

Now coming to paying the taxes, it isn’t necessary to pay your taxes based on your UAE income. It depends on your country of residence. Again, the tax amount differs from entrepreneur to entrepreneur and business to business. If you have a residence visa and spend more than six months continuously in the UAE, you are considered a tax resident here. As the UAE income tax is set at 0% you don’t have to pay anything on your income.

Certain countries may even have an eye on you regarding your lifestyle status and family living such as whether you are accompanied by your family, where your main work or business is based, where your bank accounts are held, and where your property and other assets are located. The good news is the UAE has drawn up a series of double tax agreements (DTA) with around 100 different countries with ‘tiebreaker provisions’ to determine which country can tax your worldwide income. This helps you avoid paying tax twice unnecessarily. Do take a piece of expert advice regarding your tax payment status.

Now checking on the last nut, not the least step, appointing a Power of attorney is really important and highly beneficial for your business set up in the Emirates. If you reside away from UAE it is really necessary and important to appoint a Power of Attorney to check on your business and manage it. A power of attorney (POA) is a document that allows you to appoint a person or organization to manage your affairs. This helps the smooth-running of your Dubai based business. A general power of attorney gives broad powers. Trust is one of the important factors to be taken care of while appointing a Power of Attorney. With the simple steps followed you can run a great business in UAE residing somewhere afar.

Tags: business opportunities in dubai, business setup in uae, business setup services in dubai, company formation in dubai, company setup in dubai

Everyone has ideas. I get ideas by the dozen. When I’m showering, when I’m stuck in traffic, when I’m checking out Instagram stories and much more. But that does not mean that all can be converted into million-dollar businesses. Note that these cannot be converted into million-dollar businesses, but I may simply not be driven enough to see those particular ideas through to that milestone. When you have a great idea for a business, the thrill can drive you headlong into an energetic launch. But wait. Statistics show that over 50% of businesses fail in their first five years.

One of the biggest challenges for aspiring entrepreneurs seems to be getting off the starting line. I have many friends with big ideas and big dreams, who are constantly seeking affirmation and advice but never get around to making that first step of building a product or incorporating a business. Despite these challenges inherent in turning a business idea into reality, however, a well thought out business idea can become a full-time career. There are a lot of success stories, in fact, of very young entrepreneurs making millions of dollars on business ideas conceptualized in their parents’ basements. There are several reasons why businesses go down but this early failure rate is usually the result of poor planning. For a business idea to succeed, you need to follow methodical procedures to ensure you launch from a firm base. I would like to discuss a few steps that can lead your ideas to a successful business.

The first step you have to follow is the Research the market. Maybe your idea is wonderful but are you sure your business has a market or what. Many businesses launch, only to find someone else has already had the same idea and has got into the market first. Or the potential market is so small that you’re never going to be able to make a sustainable income from it. The next step is to validate your idea. Get the idea out of your head and onto paper. Even if it’s only a few PowerPoint slides or typed paragraphs, writing something down is the step toward making it real. Share this with your network and see the response. Are people excited to use it? Do they feel their needs or problems are resolved by using your product? Is it easy to use?

The next step you have to follow is to consider your finance. While having your office in a guest bedroom in your house or in your basement may be a bit inconvenient, it may be a better alternative early on, as you save a lot on maintenance expenses that you can pour into your business instead. Of course, you can always get a loan from the bank, but in times of economic downturn, their interest rates may not be very friendly to upcoming small businesses. You can also get funded by individual investors, but make sure that theirs and your visions align.

An idea that cannot be patented or protected is very likely to be replicated by established competitors who have more money and resources than you can dream. So, the next step must be Register the intellectual property to protect your idea. In many countries, registering your business is easy and doesn’t cost a lot of money, so you should do that as soon as possible. This will give you the freedom to start selling without having to worry about the technical aspects of it, like getting the bank to approve your business bank account. The same goes for domain names; once you have a good business idea, register the domain name immediately as the cost is almost negligible but not having it will have a major impact on your marketing later on.

The last but not the last step is to Set up a legal company. With your big idea developed and tested, you’re now at the stage to formally set up your business. There are various ways you can do this in the UAE. Cutting corners, though, could jeopardize your company before it even starts. The best approach to setting up a legal company is to use a reputable company formation specialist. They will listen to your needs, explain the options and propose the best way forward. They can also complete all the paperwork, set up a corporate bank account and make sure you stay legally compliant.

Patience is the key when turning a business idea into reality. Follow these steps, filter your ideas and turn your business dreams to reality.

Tags: business setup in uae, business setup services in dubai, company formation in uae

UAE is popularly known as the business hub of the Middle East. There has been an immense growth in the financial, business, trade and logistics sectors over the last two decades. Their contribution to the world economy is substantial. There are many business setups in UAE, interested in trading goods with neighboring countries; such people should have a valid general trading license to do the same. A Trade License is not just a formality in Dubai; it is more of a necessity. It dictates the scope of your business activity along with legitimizing your Business. Although costlier, having this license has its own perks and advantages. When applying for it, one has to take great care of it.

The Statutory body, The Department of Economic Development (DED), with the institutional support from the Dubai Chamber of Commerce & Industry regulates and controls the licensing procedures for an entity in Dubai. Certain Ministries’ and other authorities’ approval is necessary for some categories of business. Such instances include pharmaceutical and medical products from the Ministry of Health, banks and financial institutions from the Central Bank of the UAE, manufacturing from the Ministry of Finance and Industry, insurance companies and related agencies from the Ministry of Economy and Commerce. Businesses engaged in oil or gas production and related industries require more detailed procedures. Businesses like printing and publishing, food trading require more clearances than say a general trading business. In short, all commercial and industrial businesses in UAE should be registered with the Chamber of Commerce and Industry in the respective Emirate.

A general trading license in UAE costs approximately from AED30,000 to AED40,000, depending upon several factors. The type of services and activities performed by a business is the factor that indicates which type of license you should apply for. There are mainly three types of general trading licenses. They are Commercial License, Industrial License and Professional License. You should apply for the commercial license if you intend to engage with your company in trading. Industrial License is to be issued to a company that will engage in manufacturing or any industrial activity. The Professional trade license is a special business permit and is usually issued in industries such as accounting and finances, management, IT, healthcare, education, advertising, marketing, etc. The professional trade license comes with many advantages. It can be obtained by sole proprietors in Dubai. If you are a foreign citizen applying for a trade license and if you want full foreign ownership over the sole proprietorship you must first become a resident of Dubai.

To obtain the general trade license one has to follow a few steps. First of all, categorize your Business. The Free Zone or the Department of Economic Development (DED) provides a category list. So you must identify the appropriate category for your Business. Worldwide Formations can assist you in selecting the relevant one for you if you are unable to pinpoint the suitable category. Choosing a suitable legal structure is the next step. Your company’s legal structure is just as important as the trade name of your company. Several free zones in Dubai allow you to operate it. The legal structure mainly depends on the number of shareholders you have in your business, and the jurisdiction you choose to operate your business in. Choosing a trading name is the next step. While choosing a trading name whether it defines your business activity and also make sure it adheres to the government guidelines. You must inquire with the respective free zone authority or DED before finalizing your choice of name. It is to cross-check whether the proposed trade name has already been registered by any other business or not. The next thought you need to have is on how much you need to invest. Depending on your business you must have an idea of your investment. The next is an action that you have to make is to lease or purchase office space. Choose an office space that suits your budget and business requirements and also make sure, you can conveniently accommodate your employees. The next step is to get initial approval from the authority. It is a fundamental step for obtaining a trade license. Make sure you have the documents such as Duly-filled application form, The master plan of your business activity, Copy of present trade license, in case you run a local company (optional), Copy of passport (of every shareholder/partner associated with your business legally), Copy of signature (of every shareholder/partner associated with your business legally), Certificate of reference from the bank or 2 years financial statement, NOC from your sponsor, Unit title deed, Letter of Intent and Original and notarized copy of Registry Identification Form (for the Director) before presenting to the authority for the initial approval. The initial approval is followed by the payment of fees for registration and license. Make sure you have submitted documents such as Application form for registration duly filled, Notarized and attested Board Resolution for the appointment of Director or Manager, Notarized and attested Power of Attorney endowed to the Director or Manager, Notarized and attested Memorandum and Articles of Association, Notarized and attested proof of the signature of the Director or manager, Passport-size photograph of the Director or the Manager and Details of Share Capital.

Tags: business opportunities in dubai, business setup in uae, business setup services in dubai, company formation in dubai, company formation in uae, company setup in dubai