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FAQs
// FAQ
FAQ
It starts with choosing the business activity for setting up a company in the UAE, selecting the business jurisdiction, reserving the trade name, submitting the appropriate paperwork, applying for a business license, applying for a residency visa & bank account, acquiring additional approvals such as customs registration, chamber of commerce registration, etc.
With Fast Setup, it can take less than 72 hours to form a company in Dubai Mainland, but you need to have the correct documents at hand. As trusted partners and affiliated with the Department of Economic Development in Dubai, it can take anywhere from 3-10 days to start a business in the UAE free zones.
The pandemic of COVID-19 has a huge effect on all major business industries, such as travel, tourism, exchange, and more. Global investment and consumption, lifestyle, leisure, travel, have all stopped flattening the curve. The UAE state’s Stimulus Package is a remarkable move by the UAE to help business infrastructure and mitigate the danger faced by corporations and the general public. Businesses and the UAE Government are on a complete watch to avoid the spread and soon return to their original pace.
Yes. Converting a partnership to an LLC or a sole proprietorship is one simple way to shield your personal assets without altering the way your business income is taxed by sole proprietors and partners.
Free Zones are areas reserved for multinational companies that need 100% foreign ownership. Only within the same Free Zone, and nowhere else in the UAE, will companies in each free zone trade.
As a Free Zone business, you can have complete ownership of your company anywhere in Dubai and get access to free-hold land. In Dubai, not all but some of the free zone companies are excluded from paying taxes and import duties.
The Free Zone offers 100 percenter cent ownership to international firms. Hence, capital & profits repatriation of 100 per cent. No income tax, excluded from all import & export duties. For all domestic transactions carried out within the UAE by the Free Zone Business, a VAT of 5% will be charged.
The International Free Zone Authority has the cheapest Free Zone License available in the UAE. (11,500 AED, No Visa, Virtual License) in Sharjah Media City, Ajman Free Zone, and RAKEZ, there are cost-effective options available for startups and entrepreneurs to start their businesses.
Yes, there must be a local sponsor to register a mainland company in the UAE who will hold 51 per cent of the company’s shares. For international investors, there is also a corporate funding options open.
You can do business with any country and trade freely as a mainland UAE company. Compared to free zone enterprises who are only required to do business within the free zones and have restricted business reach, you get access to low-cost rental office space as you are not geographically limited.
The business registration will take place under normal conditions, even without the physical presence of the owner of the company. An offshore company can be incorporated in less than 2 days of operation. Registration of Offshore Companies is reasonably simple by submitting along with the correct documents via an online registration form.
Yes, a bank account in the UAE may be opened by an offshore company. To do the paperwork with the bank, the business owner will have to visit the UAE. Business activity, business profile, fund balance, etc., will be measured by the bank. The UAE has strict Offshore Company Bank Accounts Requirements for Know Your Customer (KYC).
Yes, the RAKICC- registered Offshore Company and the Jebel Ali Free Zone (JAFZA) are entitled to purchase residential property in the name of the Offshore Company from designated Dubai freehold areas. In terms of the use and disposal of the land; however, there are some limitations. The Offshore Company is not entitled to buy any commercial property in the UAE under UAE Legal Rules.
