Freezone, Mainland & Offshore Company Formation Related Queries
Aurion is a 15 year old Award-winning consulting company in UAE. It assist global investors in choosing the right Free Zone Package from the 45+ Free Zones of UAE. We have a team of legal and business experts to assess the investor’s precise requirements and provide the right advice and solution.
Choosing the right Company Formation package from the various offerings of the Free Zones is quite challenging for foreign investors. We design the right package and also provide with an End-to-End Company Formation & Allied Services that fits all the investor’s requirements.
UAE is the hub of trading activities in the Middle East. With the largest man-made seaport in the region and the busiest Airport of the world, the country is blessed with political stability, safety, security and connectivity to all parts of the world.
A large network of banks with easy bank account opening procedures and online banking support makes it easy for investors worldwide to do their banking operations.
UAE has signed DTAA (Double Taxation Avoidance Agreement) treaty with 117 countries and hence incorporating a company in the UAE and invoicing from this company is a wise method to save taxes in the investor’s home country.
The high-end infrastructure coupled with zero income tax makes it the most attractive destination of investors around the globe.
Renting physical office is not mandatory to setup companies. In the mainland, there are virtual offices available at minimum costs. In Freezones, Virtual offices, sharing desk, physical offices & warehouses are available.
Setting up a company starts with choosing the business activity, choosing the business jurisdiction, tradename reservation, submission of required documents, applying for a trade license, applying for residence visa & bank account, obtaining additional clearances (customs registration, chamber of commerce registration, etc.)
Aurion will assist you in choosing the right Free Zone Package from the 45+ Free Zones of UAE. We have a team of legal and business experts to assess your requirements and provide the right advice and solution.
Choosing the right Company Formation package from the various offerings of the Free Zones is quite challenging for foreign investors. We design the right package for you and also provide you with an End-to-End Company Formation & Allied Services Suite that fits all your requirements.
Freezones are designated areas within the UAE where special rules of the respective Free Zone Authority applies to the companies. Freezone companies are essentially onshore companies that can be 100% owned by expatriates. No import export duty is charged to a Freezone company.
Trading companies in Mainland are registered as LLC (Limited Liability Company). Offshore IBCs are non-resident companies not eligible for office premises or residence visa quota and it cannot do any business within UAE but can have a Bank Account.
The Free zone jurisdiction allows the following business types to set up their base – Free zone Limited Liability Company, Branch of an International Company, Branch of a Company already in operational in Dubai, Free zone Establishment (Single Shareholders), Free zone Company (2 to 5 Shareholders).
Yes, to trade in the mainland, the Free Zone can appoint a local DED (Department of Economic Development) registered agent for sales & distribution, open a branch in the mainland, start an LLC Company, start a Civil Works Company. Any trade done by freezone company to mainland or vice-versa will be treated as export/import and UAE customs law applies.
Free Zone offers 100 % foreign company ownership. Hence, 100% repatriation of capital & profits. Exempted from all import & export duties, no corporate tax. A 5% VAT will be applied for all domestic transactions performed inside UAE by the Free zone company.
Limited Liability Company (LLC) is the most common legal business form in the Mainland of UAE. LLC Company offers better security and flexibility to expand business in the local UAE market. As per the latest update there is no requirement of having a local sponsor as one of the shareholder for setup an LLC Company in UAE.
There is no mandatory requirement of office space for starting a Service Company.
No, there is no requirement of local sponsor. There is also a Corporate Sponsorship option available for foreign investors.
Mainland business in UAE is formed in 3 phases
Phase 1 – Choosing a business activity and submitting the list of company names choices for approval.
Phase 2 – Once the investor submits all the legal documents (application form, passport copy, educational certificates, business information, financials, etc.), the authorities will assess the investor details and notifies the approval accordingly.
Phase 3 – The authority authenticates the business entity, issues business license, other required clearances, and the investor can proceed to the residency visa application.
9 Steps in Closing an LLC Company in Dubai
Yes, an Offshore Company can open a Bank Account in the UAE. The company owner will have to visit the UAE to do the paperwork with the bank. The bank will be assessing business activity, company profile, fund flow, etc. UAE has strict Know-your-Customer (KYC) Norms for Offshore Company Bank Accounts.
Offshore Company can be incorporated in less than 2 Working Days. Offshore Company registration is relatively easy by applying through an online registration form along with the right documents. In normal circumstances, the company registration will happen even without the physical presence of the company owner.
Yes, Offshore Company registered in RAKICC and Jebel Ali Free Zone (JAFZA) are eligible to purchase residential property in the Offshore Company’s name from designated freehold areas in Dubai. However, there are certain restrictions in terms of usage and disposal of the property. Offshore Company is not eligible by UAE Legal Laws to purchase any commercial property in the UAE.
The following are the documents required for opening a Corporate Bank Account in the UAE. Based on the client profile and business activity, the Bank might request additional documents as part of the compliance process.
For Bank Accounts Opening in UAE, the signatory has to be present during the bank account open with the documents for assessment and review. The shareholders of a company can assign any one of them to be the authorized signatory in the bank via a resolution of the company. And the shareholder appointed as above can visit the bank to open, operate and close the account.
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