The United Arab Emirates is an incredibly attractive jurisdiction for foreign investors. If you want to register a company in the UAE, then, first of all, you must decide for what purpose you need it.
Foreign businessmen can register 3 types of companies, each of which has its advantages. Today we will talk in detail about each form of business.
Forms of business in the Emirates:
- a local;
- a Freezone;
- an offshore.
Registering a local company in the Emirates
You can register an LLC in the UAE, if the following conditions are met:
- The presence of a citizen of the country in the structure of the company: 1 or more.
- A resident must own 51% of the shares.
- A share capital depends on the type of activity.
- A mandatory presence of an office with an area of at least 18 square meters.
- The company allows several shareholders.
- A real office space.
- To have the experience in the field, in which you will conduct activities.
- The agent of the company should be a citizen of the UAE, who does not have a share in the business, but will receive a fixed accrual annually. In addition, only the name of your company will be available in the public registry. Having made the decision to register a local company in the Emirates, it will be necessary to submit reports and an audit every year.
What gives the registration of an LLC in the United Arab Emirates:
- You can obtain any license in the UAE and conduct any type of business, which is permitted by laws, both in the Emirates and beyond.
- You can get a resident visa for founders and employees.
- No reporting required.
- The information about shareholders and directors is not in the public domain.
- You can open a corporate account in the UAE.
Registering a Freezone company in the Emirates:
- To set up it with 100% participation of foreign founders.
- To get a resident visa for founders and employees.
- To use a preferential taxation.
- You can register a variety of Freezone companies - Establishment - a company with a 1st founder.
- You can register an Emirate company remotely, without a real office.
It should be borne in mind, that owning a Freezone company, you will need to file a financial statements.
Emirate offshore company
Advantages of this type of company are:
- The number of founders is not limited.
- A minimum number of shareholders and directors is 1.
- The director is not necessarily a resident of the UAE.
- An offshore registry is not public.
- 100% foreign ownership.
- You can use tax benefits.
- No need to submit reports.
- A minimum share capital is $2,740.
- It is not necessary to have a real office (this is even prohibited by the law).
Nuances to consider:
- There is no way to get resident visas.
- A business can be done only outside the UAE.
- Licenses to such companies are not issued.
This version of the company is a cost-effective, if you need a “beautiful facade company” and the ability to optimize your business.
You can learn more details by contacting our company. We specialize in setting up a business abroad and provide consulting and support services at every stage of a company registration.
This state has a very attractive tax system: almost all areas are not taxed. In addition, the Emirates has signed a double tax treaty with many countries. This makes a business in the UAE profitable and promising. As for a corporate tax, it is levied only on those firms, whose activities are carried out in the oil, gas and banking sectors.
How to open a bank account in the United Arab Emirates?
You need to provide a full set of documents, which our employees will help to collect and to prepare. You will need:
- a Charter;
- a Memorandum of Association;
- a certificate of registration;
- a license (if any);
- the description of the structure;
- the description of the activity;
- the information about the owner (a proof of identity, a place of residence,an experience in business);
- the description of sources of income.
A company registration in the UAE + an account in the UAE
Having established contacts and a real experience in this area, we will help you to set up a business in the Emirates promptly and efficiently.
We will take into account all your priorities and advise on the appropriate type of company in one of the seven emirates, that will best meet your needs.
The information outlined in the article is actual at the time of its publication.
Please refer to our specialists for checking possible solutions for your business.
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