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Registering a Company in Dubai: Starting Business in Dubai? Business Setup & Formation in Dubai Made Easy!
Starters may find Dubai to be among the few places present on Earth, where initiating any business can prove to be a tedious task. As per the survey of World Bank, Dubai ranks the 33rd spot of easiest places for starting business, due to its low rankings. Hence, we can very safely state that initiating any business in the city can be a challenging task, especially if you have been planning for the very first time.
The reason cited is because of government bureaucracy which requires businesses present in the city to follow stringent measures for qualifying. In case, you desire to have a startup in the city, then given below are few legal terms and facts that you need to be well acquainted with prior to getting started.
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Generally, business in Dubai is of two categories and can be established within the Dubai Free Zones, viz.:
Free Zone Company: They are considered to be businesses that are owned 100% by the person establishing it. There is no need to have an agent or a sponsor for managing the venture by acting as a liaison. No restriction is present that will tie you down.
Offshore Company: Such company type of registration in Dubai refers to any business, which operates outside its boundaries. For instance, a business operating in Switzerland can open up similar enterprise within the UAE.
Basically, offshore possibility is established to cater to those establishments requiring to have regional ‘tax relief invoicing facility’. Also minimum capital will not be required including any need to establish actual office facility. Keeping with the latest international standards off-shore regulations are issued. Hence, companies are required to register minimum of one director for a company, to issue professional auditing company annual financial audit report that is free zone approved and to maintain financial records. Annual general meetings (also possible by proxy) are to be held by each company, to act and perform as normal company.
Company regulations are created to conform strictly to the latest anti-money laundering measurements.
Moreover, local companies are to deal with the following
Capital: There is not required any minimum capital. But the starting recommendation is minimum (US $2,000) AED 10,000.
Our experienced business advisors over the years are helping to establish new businesses in Dubai and do understand better the ins & outs. You can get the desired advice and suggestions from our helpful experts and can gain from their expertise to set up your type of business. you can rely upon the professionals, especially those who can be dependent upon to offer appropriate sound advice which can be trusted. The legal framework of your company is something crucial to be dealt with correctly.
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Originally posted 2021-09-29 06:45:51.