A Professional Firm is a company set up under the UAE Civil Code that practices a profession as its main objective, and in which the incorporators rely more on their professional activities that they carry out than on profiting from the business of others associated with them. In the light of the same, Professional Firms are set up between professional and are permitted to only conduct non-commercial activities.
In a Professional Firm, 100% foreign ownership can be enjoyed by the incorporators. Such companies are permitted to engage in professional or artistic activities and have the complete independence of conducting business. Also, a UAE local national must be appointed as a local partner, but he/she must not have any direct involvement in the line of activities and must be remunerated a percentage of the profits or in lump sum, the company’s turnover revenue. In addition to these, Professional Firms in UAE also enjoy the following benefits:-
- No personal income or capital taxes to be paid,
- No corporate taxes applicable,
- 100% repatriation of profits and capital,
- No restriction on currency,
- Adequate availability of manpower and energy supplies, and
- Simple staff recruitment process.
At Jumeira Consultants, our primary objective is to help our clients establish their business successfully in one of the seven Emirate states and reap international profits. Our services include:-
- Offering a complete registration procedure,
- Identifying a qualified and suitable local UAE agent,
- Obtaining professional licenses,
- Preparing the service agent agreement,
- Assisting in opening bank accounts and completing visa formalities
If you are planning to incorporate a Professional Firm in UAE, get in touch with us today. We have the means and tools to help give wings to your dreams! Contact us NOW!