Setting up a business in the UAE can be a strategic move for entrepreneurs and companies looking to tap into a thriving economy. The UAE offers a business-friendly environment, modern infrastructure, and a diverse market. Elite offer business setup services in the UAE which encompass a range of assistance designed to facilitate the establishment of a business entity. Here’s a detailed overview of the key services we offer:
- Business Structure Consultation
Our advisors can help clients determine the most suitable business structure based on their needs, including incorporations of:
– Limited Liability Company (LLC)
– Free Zone Company
– Sole Proprietorship
– Branch Office
– Civil Company
Providing insights into the legal responsibilities, liabilities, and operational flexibility of each business structure.
Limited Liability Company (LLC):
Choose Between Free Zone or Mainland Business
Free Zone: Operating within a free zone offers benefits like 100% foreign ownership, reduced taxes, and simplified regulations. If you wish to trade outside UAE i.e. if your business is involved in import/export activities and goods are not being sold within UAE then opening an LLC in freezone may be a better choice. Apply for a license through the free zone authority. This typically involves submitting a business plan, Articles of Association, proof of address, and ID copies of the owners. Free zone examples include Dubai Multi Commodities Centre (DMCC), Abu Dhabi Global Market (ADGM), and Ras Al Khaimah Free Trade Zone (RAK FTZ).
Mainland Business: Opening a business in Dubai mainland has its own pros and cons. For example, if you are providing services to UAE consumers directly then you must register your business in mainland to be compliant. You can now have 100% ownership of your LLC in mainland, however, in some cases you are required to give 51% shares to UAE/GCC national. Opening and running a business in mainland might be comparatively little more expensive than freezone. We can help you apply for a license through the DED.
- Select a Business Name
Choose a unique name for your LLC. Ensure it doesn’t infringe on any existing trademarks or intellectual property. Submit the name to the relevant authority (e.g., Dubai Economic Zone Authority for free zones or DED for mainland) for approval.
- Set Up Your Company Structure
An LLC in the UAE is typically structured with:
Owner/Shareholders: The owners who have liability limited to their investment.
Manager: Responsible for the day-to-day operations.
- Open a Business Bank Account
We can assist you to choose a bank in the UAE and open a business account. You will need your business license, tax registration number, and other relevant documents.
Free Zone Company:
The UAE offers investors more than 40 multidisciplinary free zones, in which expatriates and foreign investors can have full ownership of companies. These zones are characterised by their highly efficient infrastructure, and distinct services that facilitate smooth workflows, saving businesses considerable time and effort.
Benefits of opening company in one of the free zones:
- 100% Foreign Ownership
- 100% Repatriation of Capital and Profits
- Fast and Easy business set-up procedures
- Developed Business Communities
- Numerous options at competitive cost
- 100% exemption from Corporate and Income Taxes as designated free zones.
- 100% exemption from customs duty
- Independent laws and regulations
- Easy regional, global market access
- Modern and sophisticated infrastructure
Sole Proprietorship
A sole proprietorship is owned and operated by an individual. Trade license is issued to a person which is known as Sole Establishment. If the scale of your business is relatively small, then you may wish to incorporate a sole proprietorship.
Sole Establishment which are owned by foreignerare required to appoint a local service agent who must be UAE national.