09 Aug

businessmen in dubai

businessmen in dubai

businessmen in dubai

businessmen in dubai

We often have questions about how start a business in dubai or open a business in Dubai or in our events in the forum, here we look at the do’s and don’ts of creating a company in Dubai

 

How to establish a business in Dubai? They will, corporation or a company FTZ will have to investigate all options available to you. Here in depth guide on everything you need to know …

 

licensing

property requirements

legal structures for business

associations

Joint ventures

companies by public actions and private

capital companies

Branches and representative offices of foreign companies

Professional Studies

Incentives Free Zone

Free Zone licenses

The establishment of a branch of a foreign company

Create Free Zone Corporation

Home free zones in Dubai

 

start a business in dubai

In the United Arab Emirates, and regulates economic activity by each emirate, in addition to the federal government. In Dubai, the authorities have sought to create a well-regulated without being restricted environment. Dubai and as a result, and organize business conditions, which are among the most liberal and attractive in the area of ??operation.

 

There are many options open to international companies seeking to establish a business relationship with Dubai. In addition to forming business relationships, many companies find that there are clear advantages in having a presence there for the prospects of market research, establish contacts and communicate with clients, and view details of transactions and orders secured. The presence of such a presence provide significant commercial advantages in the Middle East.

 

businessmen in dubai

Fatah Dubai

 

Businessmen in the region prefer to deal with someone they know and trust and personal relationships are more important in doing business in the Arab world than in Western Europe or the United States. In addition, buying patterns of some countries served by Dubai unpredictable, creating a need for market intelligence and information class. Dubai offers foreign companies a wide variety of businesses, including:

 

Direct trade – selling directly to established dealers and distributors

commercial agency arrangements – should be designated a national company or the United Arab Emirates. Agreement is registered with the Ministry of Economy and Trade

Branch or representative office – 100% foreign ownership allowed office. It must be set local agent (sponsor), DED license is required

A limited liability company – foreign ownership is limited to 49%. DED license required

investment incentives for free zone.

 

 

licensing

The basic requirement for all business activity in Dubai is one of the following three categories of licenses:

 

Commercial licenses covering all kinds of trading activity;

Professional licenses covering professions, services, craftsmen and artisans.

Industrial licenses for establishing industrial or manufacturing activity.

 

And issuing permits Department of Economic Development in Dubai (with the exception of licenses for hotels and other tourism-related issued by the Department of Tourism and Commerce Marketing that business.) In addition, licenses for some categories of business require approval of certain ministries and other authorities: for example, banks and financial institutions in the United Arab Emirates Central Bank. Insurance companies and related agencies from the Ministry of Economy and Trade. Manufacture of the Ministry of Economy and Industry. The pharmaceuticals and medical Health Ministry. more detailed application for companies operating in the oil or gas production and related procedures industries.In in general, should be recorded in all commercial and industrial businesses in Dubai with the Chamber of Commerce and Industry of Dubai. You may also be interested in:

 

businessmen in dubai

What is the Department of Naturalization and Residence?

Check the department and extensive functionality

What is the service of Al-Amin?

 

property requirements

Fifty-one percent of the participation of UAE nationals is the general requirement for all companies established the UAE, with the exception of the following:

 

When local law requires 100% ownership

In free zones in Jebel Ali Airport

In an open letter to the 100% ownership of the activities of the Gulf Cooperation Council (GCC)

Where subsidiary wholly owned GCC companies to enter into an alliance with the citizens of the United Arab Emirates

With regard to foreign companies registered branches or representative offices in Dubai

In professional or artisan companies that allowed foreign ownership of 100%.

 

 

legal structures for business

Federal Law No. 8 of 1984, as amended by Federal Law No. 13 of 1988 – the Commercial Companies Law – and its regulations governing the activities of foreign companies. In general, the provisions of this law are as follows: Federal law gross domestic stock of not less than 51% in any company defines seven categories of companies that can be established in the UAE. And specifies the requirements in terms of shareholders and board members, and the minimum levels of capital and incorporation procedures. It also establishes the provisions governing conversion, merger and businesses to solve problems. Seven categories of business organization defined by the Act are:

 

Corporate Sponsor

Association-Oon- commendam

the sa

A public company

A private corporation

limited liability company

share partnership company

 

 

associations

solidarity companies limited only to UAE nationals. Not by the government of Dubai does not encourage is to establish an association of undertakings Oon- commendam and share partnership.

 

Joint ventures

The set is a contractual agreement between a foreign party and a local party licensed to perform the desired activity. And it has to be involved in domestic capital in the joint venture at least 51%, but the profit and loss distribution can be prescribed. No need to license the joint venture or publish the agreement. The foreign partner deals with third parties on behalf of the local partner who (unless the agreement was announced) shall bear full responsibility. In practice, joint ventures are also suitable structure for companies working together on specific projects provide.

 

Starting a business in Dubai

 

companies by public actions and private

The law stipulates that companies participation in banking, insurance, or financial activities should be managed as local public capital companies. foreign insurance companies and financial banks, however, may have a presence in Dubai by opening a branch or representative office.

 

allowed in the case of capital companies.

 

capital companies

The limited liability company may be formed by at least two and a maximum of 50 people who are confined to their shares in the capital of the responsibility of the company. The inclusion of these companies are also suitable structure for organizations that wish to offer in the development of a long-term relationship in the local market.

 

 

Select a commercial name for the company and approved by the Ministry of license from the Department of Economic Development

The preparation of the Company of the Association, and is certified by a notary public in the court of Dubai

Obtaining approval from the Ministry of economic development and to apply for registration in the commercial register

Once approval is granted, the company runs the commercial register and the articles published in the Ministry of Economy and Trade Gazette. The license shall be issued by the Department of Economic Development

The company should then be registered with the Chamber of Commerce and Industry of Dubai.

 

Branches and representative offices of foreign companies

Commercial Companies Law covers the formation and organization of branches and representative offices of foreign companies in the UAE and stipulates that they can be 100% foreign-owned, the local agent of non-citizens of the United Arab appointed.Only States or companies 100% owned by UAE nationals may be appointed as local agents (which should not be confused with the term commercial agent). Local agents – also often referred to as sponsors – are not involved in the operations of the company, but help in obtaining visas, cards labor, etc., and are paid a lump sum and / or percentage of profits or turnover. The establishment of a branch or representative office in Dubai, a foreign company must do the following:

 

Request a license from the Ministry of Economy, Trade and provide the agency with Arab National ownership or 100% of the United Arab Emirates Agreement. Before issuing a license, the ministry:

Refer the request to the Ministry of Economic Development to obtain the consent of the Government of Dubai.

Refer the request to identify the activity that the office or branch will be authorized to do so in the UAE, the Commission of federal foreign companies for approval.

Once this is done, the Ministry of Economy and Commerce to issue the required Ministerial license specifying the activity practiced by the foreign company.

Branch or office can enroll in the Department of Economic Development in the commercial register, and will be required to issue the license.

Branch or office should also be entered in foreign companies registered with the Ministry of Economy and Commerce.

Finally, the branch or office should be registered with the Chamber of Commerce and Industry of Dubai.

 

Professional Studies

The establishment of a professional company and 100% foreign-owned, and allows single ownership or civilians. These companies may be involved in professional or artistic activities, but the number of teachers that can be used is limited affiliate. You must assign one of the citizens of the United Arab Emirates and the local service agent, but has no direct involvement in the business and get paid a lump sum and / or percentage of profits or turnover. The role of local service agent is to assist in obtaining licenses, visas, labor cards, etc.

 

It was brought to the free zone of Jebel Ali Free Zone and Dubai Airport for the specific purpose of facilitating investment. Consequently, the procedures to invest in those areas are relatively simple.While in free zones are designed to complement and contribute to the growth and development of Dubai, its legal status is quite clear.

 

Operating companies will address here and abroad, or outside the UAE for legal purposes.The option to remain in free zones and therefore more suitable for companies wishing to use Dubai as a regional manufacturing or distribution base and where most or all of their rotation is outside the UAE Arab nations.

 

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