Points to Consider While Hiring Company Formation Consultants in Dubai
Entrepreneurs with a vested interest in creating globally acclaimed business organizations have been increasingly investing and establishing offshore companies in the free trade zones in Dubai. The investor and industry friendly economy of Dubai are the primary reasons for the increasing foreign investment in this region. The management of a reputed business consultancy firm, which has been helping companies set up establishments, like branch offices and manufacturing units in Dubai, mention that investors prefer to set up offices in the free trade zones in Dubai.
Benefits of Setting up an Offshore Company in Dubai Free Trade Zone
The free trade zones are demarcated regions in Dubai, which provide entrepreneurs and companies with exclusive facilities. Entrepreneurs who have set up offshore companies in a Dubai free trade zone can enjoy facilities like one hundred percent repatriation of profits and access to modern infrastructural facilities. Thus, the management of the business consultancy firm believes that it is advisable, that entrepreneurs looking to set up offices in Dubai, should consider opening these in a Dubai free trade zone. Nevertheless, there are some points that you must consider while setting up an offshore company in a Dubai free trade zone and some of these have been discussed below.
Factors to be considered while establishing an Offshore Company in Dubai
If you are thinking of setting up an offshore company in a Dubai free trade zone, then it is essential that you hire the services of renowned company formation consultants. Business management consultancy firms will provide you with all the support required, such as registering your company, liaising with local authorities, obtaining Memorandum of Understandings (MOUs) and help you meet other such legal requirements. Listed below are some points that you must take into consideration while setting up a company in an offshore company in a Dubai free trade zone:
Discuss with the business management consultancy firm the nature of your business. In other words, ensure that the business activities carried out by your company should fall under the ones listed by the Economic Department of Dubai. Moreover, you will have to specify, whether you are looking to set up a Free Zone Establishment (FZE) or a branch office. Depending on your specification, the legal processes for setting up an offshore company in a Dubai free trade zone will differ.
You will have to obtain the specific license required to set up an offshore company in a Dubai free trade zone. After you have registered your business, you will have to obtain a specific trade license or service licence, so that you can commence your company’s business activities.
You will also have to submit the requisite documents and provide shareholder details to the licensing authority.
Thus, opening an offshore company in a free trade zone in Dubai is a strictly legal process. However, you can make the process simpler by hiring the services of a reputed business consultancy firm, which has been involved in helping entrepreneurs establish offshore companies in Dubai free trade zones for many years.