With these six straightforward steps done, you’re good to proceed and begin doing business in your selected freezone. Company formation in Dubai isn’t just easy, thanks again to the accommodating corporate conditions of these free zones, but also with the right resources, the procedure can be done in less than one week. Just follow these steps and you’ll have a business license in Dubai in no time.
First, when planning for company incorporation procedure in Dubai, it’s important to choose a suitable offshore company that can serve as the focal point of your business. In doing so, you can gain the most out of your offshore company’s expertise and resources. Select a company that has years of practical experience in the market and competent, qualified and friendly personnel who are willing to help you out from the start onwards.
Second, register the company’s name and its capital in Dubai’s stock exchange. This is an essential step, especially for foreigners planning to establish an international business. Doing so helps the company comply with local legislation on taxes and also enables the shareholders to receive regular payment for their shares. This allows the company to continue operating even during economic recession.
Third, complete all the necessary paperwork and submit it to the Ministry of Business Affairs. This is where you will need to mention all your capital, liabilities, share capital requirements and the purpose of the company. Once you’re done with these documents, your company registration will be approved. However, before your company registration is approved, the Ministry of Business Affairs will require you to submit further information that pertains to your company. You need to furnish this to them within one month so that they can provide necessary amendments to the document after reviewing them.
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Fourth, register your company for trading or doing business. Dubai has a legal system that requires all its citizens to register their companies to function. This is also one of the company incorporation requirements in Dubai. If you do not register your company, you cannot trade or open a management company in Dubai.
Fifth, obtain the services of an accountant to help you with your company incorporation requirements. Most entrepreneurs in Dubai find this task to be quite tedious. Therefore, they usually hire an accountant from the local area just to save time and money. But keep in mind that these professionals are not part-time employees. Therefore, you have to be extra cautious on their job responsibilities and their service fees.
Sixth, talk to your accountant about incorporating an offshore company in Dubai. He or she may not be able to give you specific solutions, but he or she can suggest ways on how to accomplish LLC company formation in UAE. These professionals can give you helpful insights as to what are the formalities and procedures involved in incorporating an offshore unit in Dubai. They can also give you suggestions on how you can save on taxes in Dubai. Because there are many business opportunities available in Dubai, a lot of entrepreneurs and individuals are choosing this city as their corporate headquarters.
Seventh, ask your Dubai company formation agents for help on the onshore company formation requirements. Most offshore formation companies require minimal share capital requirements. However, you have to check with your company formation agent or the company that you will incorporate if they are willing to offer you share capital or not. In some cases, it is still required for you to invest at least 10 percent of your equity into the company. So, make sure that your company formation agents provide you with information regarding the share capital requirement as well as the capital requirement.
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