Considerations And Selection On The Establishment Of A Company In The UAE
Types of companies in the United Arab Emirates tax-free business without capital, corporate or income tax benefits of a company in the United Arab Emirates. Single-entry bookkeeping and legal requirements. A high degree of privacy with regard to the company data. Companies can own investments (assets, real estate, cash, shares, etc.). Non-residents of the United Arab Emirates can act as directors and shareholders.
Non-residents can own their own companies in United Arab Emirates. Bank accounts in various currencies for UAE companies are available. A residence permit can be established over a visa sponsored by the society for the United Arab Emirates. Wide range of specialist and support staff on-site amenities. Both the English and the Arabic language can be used in business activities the United Arab Emirates offer three different types of platforms for companies to Local businesses to operate. “On-shore” companies are typically used to conduct trade in the United Arab Emirates. There are different types of on-shore companies can be established. On-shore companies need a U.A.E.
resident, who is working as an agent or company shareholders. The legal framework provide several different types of on-shore companies for companies in the United Arab Emirates. Each company can be properly licenced to trade, to perform within the Emirates. There are some “activities”, which requires qualified employees by law to secure the expertise within the company. Examples include medicine, law, finance, management consulting, insurance and similar professions. Companies can apply for one or more “activities” as part of their commercial license subject to the approval by the Government. Additional activities can be added after the founding. ‘Free Zone’ companies can be owned to 100% in a non-resident – this means no need for a national partner in United Arab Emirates. A business can be made in the United Arab Emirates only with some restrictions. The concept of a “free trade area” or “Special economic region” was established internationally as a model for the development and promotion of the economy in many countries. The free trade zones in the United Arab Emirates, to secure the trade and export companies a high degree of success. Many new free trade zones have been recorded within the United Arab Emirates. “Offshore” companies can be owned to 100% in a non-resident. This type of corporate form is often used for other companies within or outside the United Arab Emirates, as capital, assets or holding company. This is an innovation of the free zone authorities, Concept of “offshore” allows a company in the United Arab Emirates, a flexible corporate unit, a mixture of on-shore and offshore features. Registered within a free trade zone, the offshore company has some of the benefits of a standard free zone limited liability company (limited liability company), company but is not intended as substitute for a free zone limited liability company. Offshore companies perform their activities outside the United Arab Emirates. But offshore companies open bank accounts to take advantage of the bank transactions with the banks in the United Arab Emirates. Offshore companies can investments within and outside the United Arab Emirates hold and can have its own real estate in the United Arab Emirates, in certain areas (which are approved by the trade registry). Income resulting from these investments (including real estate) to the bank account of Company held and then returned. Unlike other free trade zone companies, there is no minimum capital requirements for an offshore in the UAE society. Lars Wengemann privacy management group FZ-LLC