Company Formation in Dubai
One of the most important considerations while setting up a new company is the cost of setting it up. What attracts most to entrepreneurs in setting up a business in Dubai is especially the tax free nature of its business zones. However, company formation in Dubai do come with a few requirements like the fees involved for issuing a trade license in Dubai and one setting up a company in Dubai. While it is important for you to keep the same in mind, a business development consultant can help you make better decisions and aid the tiresome processes involved in business setup.
While starting a company in Dubai in any of its many free zones, it is important to keep in mind that there are different rules and regulations, procedures and fees involved with different free zones. Many of these free zones require the business owners to have a minimum amount of capital if they are setting up a new business in Dubai as compared to just opening a new branch of an existing business or company. Sponsoring the company or business employees and putting their visas and paperwork in place is another cost while setting up a new business in Dubai and this cost also needs to be considered.
Offshore company incorporation or registration in Dubai and even trademark registration requires specialized knowledge. Today there are a host of companies offering these specialized services to help one start a company in Dubai. These companies help you with every aspect of a business setup in Dubai including trademark registration, PRO services, accounting services to payroll services.
One can either setup a free zone company in Dubai or an offshore company. A free zone company is fully owned by the person who sets it up. There is no requirement of an agent or a sponsor to manage or liaison. Company formation in Dubai free zone is quite beneficial because it allows full ownership of the venture and can be set up by one person itself. One can also open a bank account in Dubai in this setup and can also hold properties. There is zero tax, renewal charges are low and the company can be liquidated anytime. International business can also be conducted in this form of business in Dubai. Registering an offshore company in Dubai on the other hand, means a business operating from outside the boundaries of Dubai. For example, a business in India opens up its branch or a similar enterprise in Dubai. These companies have the benefit of tax relief invoicing facility. One need not set up an actual office in Dubai and there is also no requirement of a minimum capital. However, there are a few regulations required to be followed. The companies need to register at least one director per company. They also need to keep proper financial records and these are to be audited by professional auditors approved by the free zone. Although, the companies may not be having an office here, are required to act and perform like a normal company and are required to hold annual general meetings. These companies are allowed to work with and deal with other companies within UAE. They are also allowed to deal with banks in UAE for their transactions.
Today, there are various company formation consultants and companies that can help you set up a business or form a company in Dubai in an easy and efficient manner. These companies provide consultancy and advice as to what structure suits your business plans and goals. Business development consultant firms can also help you draft various documents required for setting up a business in Dubai. They even manage their submissions and handle the various legalizations. They also help you get visas and work permits for your employees. They provide options for partnerships in case of offshore company or a branch office. They also help you get various approvals required from different ministries and departments and also set up your bank accounts. All in all, company formation consultants make your Dubai business setup process easy.