UAE has introduced the world uncountable business solutions. This is the reason businesses all over the world wish to setup business operations in UAE to capture the tax benefits and business friendly environment.
There are different types of company setup options in UAE depending upon the business need. UAE has wide range of free zones which are specialized in each sector. Dubai has 22 free zones offering full length of business activities and all 7 emirates there are above 48 free zones. And UAE Mainland is catering to local business of UAE with various type of companies’ shareholding pattern with complete list of business activities.
New businesses in UAE Free Zones have option to register FZE (Free Zone Establishment) FZC (Free Zone Company) FZCO (Free Zone Company) FZ LLC (Free Zone LLC). FZE is a company with single shareholder and FZC is two or more shareholders. FZCO and FZ LLC both are same, and these kinds of companies can be formed with one shareholders or multiple shareholders, but form of company stay same either FZCO or FZ LLC. Some free zones are offering FZ LLC and some of them are offering FZCO, but both have same benefits, but the cost is different depending upon the free zone. The minimum share capital is AED 50,000 for each shareholder and maximum AED 300,000 depending upon the free zone. There are only few free zones ask for paid up capital but most of them offer shares without paid up capital.
UAE Mainland (DED) Dubai Economy Department offer Professional license with 100% ownership to expat investors which is called establishment or civil company, LLC (Limited Liability company) means two or more shareholders and one of them must be UAE national. Recently UAE had new law where expat can get 100% ownership in the mainland. UAE Mainland also offer foreign branch or branch of UAE free zone company or subsidiary of the free zone company. It can be individual shareholder and corporate or it can be 100% branch of foreign company.
For new company registration the first step is initial approval which require below documents:
Once the documents are in place and application is signed it take three days to get the initial approval. Initial approval is required to make sure that the applicant is eligible to incorporate company in UAE.
Free Zone authority or mainland authority issue license immediately after initial approval.
Once the company is formed it take 1 week to complete the immigration procedure. Time frames vary from free zone to free zone. Mainland procedure is quicker compared to free zone.
Right after company formation and immigration, all required documentation has to be presented to the bank to initiate the company bank account. A meeting will be held either in the bank or Rockefeller Corporate office for the interaction between banker and company owner to sign all necessary documents to setup a bank account.
In case of branch company, the most important documents are home country business license and other ownership documents along with board resolution attested by the UAE embassy from country of origin and rest of the procedure is same. Branch company has to appoint a manager and he/she can be a member of board or another person from UAE or outside of UAE.
Rockefeller Zone has dedicated consultant for each client to provide professional consultation session. We have experienced and educated consultant ready to take you through the process of incorporation. Submit your request and our expert will contact you.
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