With a little over 9 months to go before the ‘world’s greatest show’ opens to all, residents across the UAE have been wondering how Expo 2020 Dubai will unfold. But one thing is clear, exciting changes are bound to take place. Scheduled to run between October 2020 and April 2021, this six-month-long exhibition will be based on the theme ‘Connecting minds, creating future’. For the first time, this will bring together the best of trade, innovation and products from all over the world to the United Arab Emirates. The theme itself shows how gigantic it is going to be. People looking for business setup in Dubai can take a lot of advantages from the exhibition this is because here they will get to meet and greet new people from different companies in the world. All of them will share their ideas and will offer the opportunities they have got. In this way, all the entrepreneurs looking for great opportunities will be able to find a way to business in a really easy manner.

The government has invested a substantial amount of money to ensure the Expo 2020 takes place without a glitch. At the same time, hosting an exhibition of this magnitude gives the UAE an unmatchable business opportunity to attract foreign investments and build its core economy rapidly by provoking them to incorporate a business in Dubai. Analysts believe that the expo will mainly benefit tourism, hospitality and infrastructure development. It is expected that this exhibition will yield a huge revenue of $24.2 billion which will play a very important role in the welfare of UAE. Besides the economic benefits, people are also looking forward to discovering how the Expo will change Dubai’s identity and boost its image as a global icon. There is a point of elation because Expo 2020 will open golden gates to many but it is also petrified due to the fact that mismanagement of the smallest level could leave hefty consequences. Let’s have a look at the areas where Dubai Expo 2020 is going to benefit.

World Expo puts a fast forward tab on the infrastructure of the host city. Shanghai, China that hosted Expo 2010 invested about $40 billion on its development which required 6 additional metro lines, roads, tunnels, bridges, and bolt rail. Dubai Expo 2020’s will put the same impact on its infrastructure. Sheikh Ahmed bin Saeed Al Maktoum, one of the top finance officials claims that at least $8 billion worth infrastructure will be required for the successful establishment of Expo 2020. The host site of Expo 2020, Jebel Ali is a 480-hectare space which will require new roads, metro extension, buildings, hotels and facilities to accommodate tourists. The predicted percentage of economic boost is said to be 6.4% from 2014 to 2016 every year. This means that the economy will get improved to 10% while we reach 2020. With an increase in the hotel business, transportations, communication, catering and facilities required in the making of Expo 2020, Dubai’s economy will experience a spike. The construction works that were stopped due to recession years, will find their way to completion as the economy will have enough to recover completely out of the burst. More flights into Dubai, more tourism, more retail and more transportation will lead to an increase in GDP, hence favoring the economic stability that Dubai has been starving for since 2008.

The foreign investment will also get increased due to the triumph of the exhibition. The expected foreign investment rate is said to be $150 billion. The expected foreign investment rate is especially for the sectors including real estate, tourism, and hospitality. Expo 2020 will bring a boom in the job market as it will need more hands for all the new construction projects, increased tourism and more transportation facilities. This is such a great time for those who are really serious about their passions and company formation in Dubai. For those, having issues regarding  Company setup in Dubai can always call for help. The legal representatives are always there to get assistance regarding the upcoming projects. Dubai is already considered a safe-haven because of its magnificent location and tourist attraction. With Expo 2020 coming home, Dubai will be splurged with tourists who would need accommodation. 71% of the 25 million visitors who are expected to visit Expo 2020 will be non-domestic visitors. Whenever the expos are organized, not just that there are a great number of investors hut also visitors. The expected number of visitors is 25 million. 17 million out of ten would be international as per the predictions. In this way, the tourism and the hospitality sector will be able to gain a huge accomplishment as the number of tourists will increase due to the exposition. The press media is now on its tiptoes to fetch every minor detail relating to Expo 2020. We can promise that the word “Expo 2020” will be the most occurring keyword in the many years to come. The impacts on Media are equally great. Almost every website will have articles, news, reports, and quotes relating to Expo 2020.

When it comes to the state of the art, business services, the only solution that comes into the mind is the Impressive Companies Representation. This is because it offers the ultimate solution for all those looking for assistance regarding business set up and company formation. They are experts in their respective fields which make them the best of the best.

Before starting to let you know about the things to be noted before beginning an offshore company in UAE, I would like to bring your interest to the definition of an Offshore Company. An offshore company simply refers to a corporation, LLC or similar class of entity formed in a foreign country to that of the principals of the organization or one that can only operate outside of its country of formation. For example, if you are a Canadian passport holder, opening a branch of your company in Dubai will be called the offshore branch. The word “offshore” is mainly based on executing, managing and operating in foreign countries with benefits in financial, legal and tax. Now coming to the offshore company formation in UAE, it is one of the best opportunities for investors willing to channel their funds and capitalize on international markets. Offshore company registration is beneficial as it offers immense tax saving as well as provides companies to function globally.

‘A fantastic business idea and initial capital were key to a successful business setup’- such thoughts are long gone.  To find a suitable place to start your business to maximize your profits, new tax regimes and fragile economies have become increasingly important today. UAE Offshore companies are not issued operating Licenses and are only given a certificate of incorporation. Hence, offshore company formation in Dubai or any other jurisdiction can be an easy process. But you should know the rules and procedures for offshore company formation in UAE. With Impressive Companies Representation, you can be laidback! Call us and save your time, money and effort as we provide you the fastest and safest way to set up an offshore company in Dubai. Before moving on to the important things to be noted before setting up an Offshore Company in UAE, I would like to grab your glance at the benefits of offshore company formation in Dubai.

In terms of tourism and foreign cash inflow, Dubai is the fastest growing emirate among the seven emirates of the United Arab Emirates. People from all over the world travel to Dubai or look for offshore company formation for a long or short term in life. At present, there is no personal tax or corporation tax imposed neither at the Emirates level nor at the federal level with limited exceptions, such as oil and foreign banks. The International Companies Regulations requires no local shareholding in an offshore company as opposed to the companies incorporated in the mainland of UAE, which requires mandatory local shareholding. It means the foreign investors either individual or corporate entities get 100% ownership. The liability of shareholders in an offshore company is limited to their share in the capital of the company. The regulation requires that the name of the offshore company shall end with “Limited”. The registration process is simple and expeditious and can be completed within 3 to 4 working days upon submission of the required documentation. Incorporation cost is relatively low as compared with other entities incorporated in free zones or the mainland of individual emirates. Shares in offshore companies are easily and freely transferable by a written instrument. There are Solid and stable banking systems in the UAE. There are no public disclosure requirements, no exchange controls and have Virtual office facilities. Also, there is no requirement for any minimum share capital, although the registrar may require that the paid-up capital of the company be commensurate with its proposed activities.

Now, let’s have a look at the things to know before setting up an Offshore Company in UAE. In UAE there are two offshore jurisdictions- Jebel Ali Free Zone (JAFZA) and Ras Al Khaimah. Some activities like Banking, Financial, Insurance, Professional services, advertising, games, media, intellectual property, movie production, military, and education are prohibited in Jebel Ali free zone. Permission to have a rented office in UAE is not granted, instead, UAE approved registered agent must provide registered office address must be present. Minimum two natural persons are required to act as directors of the company. Different classes and bearers of shares are not permitted. No minimum capital requirement, shares must be fully paid and allotted. There must be one minimum shareholder-corporate or individual.

Now coming to the documents required, if you are an individual application you require documents such as Personal profile of the applicant, Passport copy of applicant, Bank reference letter, Proof of residence (utility bills like water/electricity bill evidencing the address of the applicant), Director’s passport copy. (Shall be one director minimum, the shareholder can also become a director) and Power of Attorney in favor of our office to pursue the incorporation process. (Draft will be provided by us) notarized and legalized up to the UAE Embassy/consulate in the country of execution.

And when it comes to Corporate applicant, documents such as Certificate of registration of the company duly legalized and attested by the UAE Embassy/Consulate in the country of origin, Certificate of good standing of the company duly legalized and attested by the UAE Embassy/Consulate in the country of origin, Memorandum and Articles of Association of the company (Applicant Company) duly legalized and attested by the UAE Embassy/Consulate in the country of origin, Bank Reference letter, Board resolution calling for the establishment of an offshore company, appointment of directors (minimum one director) and appointing our office as the company legal representative duly attested by the UAE Embassy/consulate in the country of origin are required.

There is a number of benefits associated with offshore company formation. With business setup services offered by Impressive Companies Representation, you will be able to maneuver freely in the Dubai economy, to set up your own offshore company.

If you are interested, do contact us today.

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

When deciding where to begin your business setup in UAE, you should first have a glance on the attractions of every free zone and understanding exactly what each free zone has to offer. It’s very important as it is the beginning. So, when making your selection Abu Dhabi Airports Free Zone (ADAFZ) and Khalifa Industrial Zone Abu Dhabi (KIZAD) are two important hotspots in the UAE.

For many entrepreneurs, a strategic location is the single most important factor in selecting the ideal place to trade in the UAE. It’s difficult to locate your start-up in a business zone that allows you to trade easily and connects other parts of the UAE, as well as the rest of the world. This is where ADAFZ and become the two front runners above other free zones and mainland start-up destinations, and many global start-up hubs indeed. ADAFZ is a premium ‘aerotropolis’ built around Abu Dhabi International Airport, making it one of the UAE’s most strategically and financially prominent free zones. A wholly-owned subsidiary of Abu Dhabi Airports, ADAFZ also includes strategic sites at Al Ain International Airport and Al Bateen Airport. KIZAD is built right next to Khalifa Port, one of the world’s most advanced deep-sea ports and the region’s first semi-automated ports. It is served by 20 major shipping lines and connected to over 60 destination ports.

It’s not just geography that makes ADAFZ and KIZAD attractive to entrepreneurs – it’s the substantial government investment in infrastructure. Both free zones are linked to the UAE’s major road networks as well. The airport free zone spreads out over an area of more than 10 square kilometers and includes five commercial districts – Logistics Park, Business Park, Destination Village, Al Falah District and Airport City. Both ADAFZ and KIZAD are part of the Abu Dhabi Government’s long-term economic vision and the backbone of Dubai at present. They are expected to transform the emirate’s economy, reduce reliance on oil, and place a greater focus on knowledge-based industries. Khalifa Free Zone was built with the aim to contribute 15% of the emirate’s non-oil GDP by the year 2030. It is designed to meet the highest standards of infrastructure, logistics and investor support. Khalifa will also soon be a key junction on the UAE’s new railway system – Etihad Rail – which will link up transport hubs in the UAE with Saudi Arabia, Kuwait, Qatar, Bahrain, and Oman.

If you are planning to launch a new enterprise in the UAE, you will be really looking to keep costs very minimum. This is what makes you feel the advantage of locating in an Abu Dhabi free zone. The Benefits include no income tax, no tax on capital gains and sales, no customs duties, 100% repatriation of capital and profit and low operational costs. free zones allow 100% foreign ownership and it makes for a compelling case to set up a business here. Free zones allow 100% foreign ownership, this compels the entrepreneurs to start up a business here. The main advantage of start-ups based in Abu Dhabi is the lowest rates for water and electrical power anywhere else in the world.

The UAE is ranked 11th globally for ease of doing business by the World Bank’s Doing Business 2019 survey. Apart from the great advantages of the strategic location and tax exemptions, entrepreneurs benefit from a purpose-built infrastructure, world-class utilities and support services, and a ready-made business hub with easy access to regional and global markets. The other add on for operating a new business in ADAFZ or KIZAD free zones is they each offer thriving business hubs for specific industry sectors.

ADAFZ provides warehousing and fully serviced offices for start-ups in a wide range of business sectors such as Aerospace, airlines and aircraft-related services, Logistics, transportation, distribution and storage, Assembly and light manufacturing, Technology and communication, Trading and retailing, Consultancy, Pharmaceuticals, and Luxury goods.

Entrepreneurs who want to specialize in trade and logistics and manufacturing are too much into KIZAD. The main attractions include Aluminium, steel and metal products, Paper and packaging, Food processing, Pharmaceutical, and healthcare equipment, Polymer converting and Automotive spare parts.

Each zone offers something extra to make doing business easy. Now it is your turn to choose. I believe you won’t close your eyes against the interesting array of facilities and benefits ADAFZ and KIZAD provide. You can even ask the help of an expert local agent if you are an indecisive person.

It’s finally summertime and families in the community are taking off for those long-anticipated vacations. Summer is the time for a break. Summer is the time flaunt your vacation. Summer is the time you give some time for a body massage and relax. But is it the same for entrepreneurs? Never. No matter, what the climate is entrepreneurs and business enthusiasts work their asses off every now and then. What does summer mean for your business? How can you manage your surplus of customers? Or how can you avoid a summer slump and get more customers through your door? We are here to offer a variety of tips and tricks to manage your summer business needs. Have a look at it and let’s fight and survive this summer slump together.

It’s quite natural as the heat picks up customers, clients, and suppliers take some time out to enjoy vacations. While a lull can be a bit disconcerting – particularly if you’re new to running a company – in fact, a quiet spell can be a great time to catch up on all the tasks you have put aside. And that means focusing on your company’s next steps, growth strategy, client roster, and even making time to learn new skills.

There’s always something that is taken least care at your office, no matter what size your business is. It can be organizing paperwork, gathering everything needed for your next VAT return, invoicing clients, paying outstanding invoices, budgeting for the year ahead, reviewing contracts and service providers, or simply filing away that mountain of documents that have been clogging up your desk, adjacent chair, or boardroom table for the last three months. Now is the perfect time to tackle all of that and overcome your admin burden.

Have a look at the pending works that have been going to your office for the past a year and start to work on it. You can arrange face-to-face meetings with your existing clients. Examine the client’s business and think about how can you help them in making their business wider. Create a proposal outlining additional work your company could do for them.

Running behind and catching up with clients might have led you to forget your competitors in the current market. Isn’t summer a perfect time for you to have a small analysis on your competitors. While of course you should avoid directly copying anything, it’s worth spending some time to take a closer look at some of the initiatives your closest rivals are working on. It will help you to bring great progress in the coming days. Here is also a small tip that you can make use of without burning your toils- follow your competitors’ social media feeds. Look at their websites. Download their apps. Seeing how they present themselves can be an effective way of understanding how they engage with their customers. Adapt the new changes that are practical, instead of copying them and add a new idea of you to it for bringing up your own identity and uniqueness.

Once you are done with analyzing your competitors, now you can have an eye on your long-term strategy. Have a future forecast on your business, where you see in five to ten years’ time. First of all, set financial targets. Decide what resources, staff, and turnover you need to hit those targets. Calculate whether you will need to secure additional financing or funding. This will give you a vision of whether you need to set a backup for the future needs of your business.

You might not have noticed, but it’s high time since you learned something new or developed a new skill. As everyone is on their summer vacation you also need to give some time for yourself and relaxation. Relaxation doesn’t mean staying away from work. You can give this time to cultivate a new skill. This can be earning a new language, brushing up on your coding, delving deeper into SEO, social media, blogging, design, and so on. Give some time for self-development along with your business development goals.

What if I tell you it’s okay to give some summer breaks to yourself and employees? If your business is driven by your client’s calendar, then it is okay to encourage your staff to take their leave at the same time as your client. Get yourself some refreshments and give it to them too. A refreshed mind and soul can sooth your business activities much better. In short, take a small summer break that is not too visible and summer slump and everything will go on track gradually.

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

You don’t need the fortune to create a successful business with the success of low-budget startups. It has been proved. Company formation in UAE can be launched on budget, and shouldn’t be undone by prohibitive levels of investment. So it is crucial to use accurate planning. Starting a Business in Dubai is a progressive decision as well as a challenging one. Since Dubai has shown its stability in economics in the International market, business investors have been attracted to Dubai.

Starting a business in Dubai takes eight days on average. Current market trends in Dubai have plenty of opportunities for foreign investors who tap into imports and export of commodities. They take advantage of the growing tourist traffic of the city for an almost unlimited number of potential clients and customers. You need to be pretty much aware of the facts associated with a business startup in Dubai. It will help you to avoid the problems that are supposed to happen while launching a profitable enterprise in the United Arab Emirates [UAE].
It wouldn’t take more than a week to start your business in Dubai if you have sorted out all your legal procedures. The kind of license you require for your business depends on the type of your business. Your operations will be defined on the basis of commercial, professional or industrial licenses. But there are exceptional cases where you require approvals from Governmental departments. It includes food trading, jewelry trade, veterinary activities, and legal consultancy. In Dubai, the Department of Economic Development (DED) has a list of over 2100 activities you can choose from. You can contact the DED, if you’re unable to find your specific one from it. Each and every free zone has its own regulations and approval formalities.

Most of us have an eye on 100 percent ownership of our company. If that is what you are looking for you need to opt for a license and location in one of the many free zones of the UAE. There are specific kinds of activities in every free zone. Clarify it in the first step, so it will help you find your best option. You don’t feel lack of choice since there are over 45 free zones in the UAE with plenty of categories of operations. And still, if you are in need of a local license or you need to operate locally, you have to approach the Department of Economic Development (DED) to get the license. The DED license comes with certain restrictions on the share of ownership for foreigners.

The rules regarding the make-up of your firm depend on the location and type of business you choose. For example, if you plan on a legal consultancy firm, it can be done only as a branch of the company or as a stand-alone company. This activity should not be taken up by a sole proprietor. Alike, Each and every free zone has its own regulations and approval formalities; it has its own restrictions regarding the company structure as well. You can look these up on the official website of a free zone or the DED. We suggest you for detailed research and study before you move on to your startup.

One of the important parts of the legal procedure is your Trade name. Unless it is a branch of another company, the company name should ideally and clearly indicate the nature of your business or startup. All the rules regarding trade names can be also seen on the official website of DED.
In the Memorandum of Association of your proposed company Minimum share capital is usually set out. In most of the cases, during the time of setting up you do not need to pay minimum capital.
Once you are done with your legal procedures and forms ready to go, half of your procedures are done. The next move you better do is to it filter some offices with costs and other details. This would show you a crystal clear path forward. Find premises suitable to your requirements along with help to set up electricity, internet, water, and other amenities aren’t a difficult task in the free zone since; you will get the right assistance at the free zone.
Before your registration is approved, you need to hire a manager to oversee operations and have him ready to be on board. This is how it is usually in most legal forms of the DED, but in some other cases, you may not be allowed to hire at all. For example, Intelaq license holders (license for home-based Emirati business owners) are not allowed to hire staff but can engage contractors. Regarding the structure of a business, each free zone has its own specific regulations.

It is mandatory to have a local agent, partner or sponsor for DED Licenses since this is great support for foreign nationals. Having a local contact can help take the business forward effectively for free zones. However, this is not mandatory. Dubai as a business destination boasts easy set-up for all businessmen regardless of nationality and Dubai is a strong platform for all the enthusiastic entrepreneurs out there.

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

Expo is a global destination for millions of people to share ideas, showcase innovation, encourage collaboration and celebrate human ingenuity. It is organized every five years and lasts for six months. The first World Expo was held in 1851 at London’s Crystal Palace and was known as The Great Exhibition of the Works of Industry of All Nations. It displayed about 10,000 objects showcasing the inventions from the industrial revolution.

Expo 2020 is a World Expo to be hosted by Dubai in the United Arab Emirates, opening on October 20, 2020. The first Expo to be held in the Middle East, Africa and South Asia with many reasons to be counted as one of the most important in exposition history. Dubai was selected to host the World Expo by The Bureau International des Expositions general assembly in Paris on November 27, 2013. “Ladies and gentlemen, Dubai wins.” Those were the words in 2013 which brought about scenes of jubilation both in Paris at the general assembly of the Bureau International des Expositions (BIE). In UAE there were residents who were waiting for the outcome of the voting of the 164 nation members entitled to vote. Dubai won by a resounding majority with 116 votes, leaving Yekaterinburg, Russia, with only 47. Fireworks filled the sky in Dubai as they exploded out of the Burj Khalifa in front of thousands of smiling faces below when the victory was announced.

UAE selected the theme “Connecting Minds, Creating the Future”, with the sub-themes Sustainability, Mobility, and Opportunity for the Expo 2020. A ring found at a 4,000-years-old archaeological site in the desert in the Al Marmum area of Dubai was the inspiration behind the logo of Dubai expo 2020. The logo was revealed by Sheikh Mohammed and was displayed on the Burj Khalifa. The logo represents the nation’s message to the world that their civilization has deep roots. They were and will always be a pot that gathers civilizations and a Centre for innovation.

Dubai South, close to Al Maktoum International Airport is the Expo site’s area. In total, two square kilometers of the site will form the Expo event area while the remaining land will be dedicated to support facilities such as the Expo 2020 Village, warehousing, logistics, transport, hotels, and a public park. Al Wasl Plaza will be the heart of Expo 2020. There will be a pavilion for each of the main themes – sustainability, mobility, and opportunity. Each participating country will have its own pavilion. The UAE pavilion is being designed by Santiago Calatrava and it features the outline of a falcon. The goal is to complete all construction work a full year before the event is due to take place.

Expo 2020 Dubai will transform the UAE, especially Dubai, into a huge showcase containing the best examples of global products. An event of such magnitude will also bring countless advantages for Dubai, especially for its real estate sector. Five key industries that would greatly benefit from the event are hospitality, retail, transportation, banking, and finance. Expo 2020 will create many business opportunities in Dubai and at least a million indirect jobs throughout the UAE. Most of the jobs will be created in the travel and tourism sector. The event will act as a powerful economic and cultural catalyst for the host country.

The Legacy plans of the Expo 2020 are “wide-ranging and ambitious”. The key aim is to stimulate the development of a knowledge economy in Dubai, anchored to the Expo site itself, which need to be continued to be a destination that attracts visitors, students and companies and is home to a combination of organizations including strategic industries, specialized technology companies, social entities and education facilities even after the event. A conference and exhibition center will be a key building in the Expo master plan, which will become a major event venue to be operated by the Dubai World Trade Centre. Once the site is fully developed, it is expected to be home to about 1 million residents and 500,000 jobs.

Expo’s efforts to minimize water use also directly contribute to one of the 17 Sustainable Development Goals set by the UN. Expo 2020’s overarching sustainability strategy aims for the event to be a catalyst for change across the nation, the region and around the world. Entire World is looking forward to the most awaiting 2020 Expo UAE. The wait will be worth to watch the interesting developments and progress Expo 2020 UAE is going to bring.