UAE is a country booming with business, both local and international. The country is friendly to international investors which brings many of them to the nation. There are three distinct types of Company Formation in the UAE to choose from. Certain factors influence the choice of a particular jurisdiction like the type of business, activities involved, and shareholding properties. Each jurisdiction has its own rules and regulations as well as advantage associate with it. types of company formation in dubai
This particular type of business setup is suitable when one wants to do business within the UAE, also known as an onshore business set up. Department of Economic Development is the governmental organization that issues trade licenses for businesses in the UAE mainland. The mainland industries have no geographical limitations and enjoy some excellent deals for office areas and other business needs. Business Like consultants values the time and money of an investor, making them the leading consultants for mainland business setup. types of company formation in dubai
Key Points to know
- Mainland companies require Office space.
- A local sponsor is a must for licensing and other formalities.
- Business can be feasible with locals as well as international markets.
- Annual auditing of finances is essential. VAT regulations apply to this type of business set up.
- The business needs clearance from various other ministries of the UAE government, once the trade license is approve.
- Issuing visa to the employees determine upon the office and work environment.
Investors or business owners looking for complete control over their businesses can opt for the free zone business setup. There is no tax on the income generated from such businesses. Unlike mainland business set up, with Freezone one can enjoy 100% foreign ownership in the free zones of the nation. Business Like provides you with cost-effective and time-efficient services for setting up a business in the free zones of UAE.
Key points to know
- Even without a physical office license can be incorporate.
- Business can be done only within the free zones in the country.
- The business is free from VAT.
- Virtual business is possible without any office in the UAE.
- To setup, the Freezone Company Residence visa can obtain.
Investors looking for a private business set up and protection of assets can opt for the offshore business set up in UAE. The business is usually located in a foreign country while it serves the clients in UAE. There is no physical presence of the offshore company in the Emirates. It is meant for international business while having the tax-free privileges of the UAE marketplace.
Key points to know
- The offshore company does not operate within the UAE.
- The local point of contact is the certified agent’s address.
- No need to make capital investments.
- Such business owners do not get a residence visa.
- Business aspects are not determined.
- While there is no physical presence of the business in the country, the ex-pat will have total possession of the business.