Nowadays UAE is a multinational business center and the presence of many ethnic groups led Emiratis to be tolerant of other social customs, but they remain conscious of their own customs as markers of cultural identity. In the same way, foreigners are required to respect the local traditions and beliefs. BCM Corporate Services LLC and many other companies, working days in UAE start from and include Sunday till Thursday. Friday and Saturday are the rest days under the Labor Law. In the event that an employee is required to work on a Friday,
Business Setup Services in UAE
The United Arab Emirates has become an international hub for trading and operations with significant improvements in the ease of doing business including simplification of procedures, introduction of the latest technology systems and reducing or either eliminating minimum capital requirements. In addition to the ease of doing business, many steps were implemented to enhance transparency.
In particular, protection of the interest of the minority shareholders was one of the major initiatives considered, specifically for onshore businesses of which the majority of the capital must be owned by local nationals. BCM Corporate Services business setup, all seven Emirates of the UAE have adopted measures to create a more favorable environment for overseas investors.
In particular, three of the Emirates, Dubai, Abu Dhabi and Sharjah have very flexible rules regarding the acquisition of real estate property by foreigners. Moreover, the Government of the UAE has recently passed a new Companies Law, including 18 draft laws covering insolvency and arbitration laws as well as foreign investment law.
The new laws are intended to address a range of issues that are regarded as hampering foreign investment in the UAE. Oil and gas remain the key sectors for foreign investments. Abu Dhabi has however launched a policy for attracting foreign direct investments in order to organize and restructure certain public services such as water and electricity distribution as well as the collection and transport of household wastes.
Why setup Business in the UAE ?
UAE is a tax-free jurisdiction with no corporation tax (except of financial institutions and oil sector entities), no personal tax, no imports and exports tax, free repatriation of capital and profits and numerous double tax treaties signed, many of them with OECD countries. There is currently no sales tax or Value Added Tax.
VAT will be imposed by January 1st, 2018 at the standard rate of 5 per cent. Important to note various services including financial services, supplies of residential properties, international transportation, education services, healthcare services, local passenger transportation and insurance services will all be exempted from the VAT and many goods and services will be zero-rated. So, the overall impact of the VAT at least at BCM Corporates accounting services this point is expected to be limited for the UAE market.
Procedure of Business Setup in UAE
The first official step Branches business setup services in obtaining a trade license are to reserve a trading name and obtain initial approval from the Department of Economic Development. To reflect its persistent efforts to enhance the UAE’s top rankings in the World Bank’s Doing Business Report and promote the country as a globally competitive business hub, the Department of Economic Development has expanded its services window by offering these services through law firms in Dubai. Unlike the rest of the official business set up process, this step is the same for all business structures.
- The application for trade name approval Branches can be completed online and a list of trade name restrictions and regulations can be found along with the online application. The costs for obtaining a trading name varies depending on the content and language of the company name. The process is relatively straightforward Branches – after filling out the online application or submitting the application in the person of the DED,
- you will be given a date on which you can pick up the approval. All fees should be paid before the trade name approval certificate can be released. Branches can usually submit their initial approval applications at the same time as submitting their trade name approval application. The documents needed for the step vary depending on the business structure of the company.
- At this point, BCM Corporate Services Business setup services will also need to submit any necessary special approvals from Ministries corresponding to your business. If you are planning to open your new business setup in UAE open within a free zone, keep in mind that the process for registering a trading name is usually taken care of by the free zone authority; each authority has different application processes. Opening a branch of an existing company requires an added set of documents to verify the legitimacy of the branch and its future managers.
- BCM Corporate Services will take After Initial Approvals in Dubai The procedures following the Dubai Economic Department’s (DED) initial approval vary depending on the business structure in UAE. You must submit all of the documents you need for the initial approval, as well as, including the initial approval, the trade name approval, and the final tenancy contract for the office or warehouse. DED has made it mandatory for the commercial
- establishments to produce lease contracts registered with ‘Ejari’ for the renewal and amendment of commercial licenses. Branches assist you Ejari is the official online registration of property on lease in Dubai introduced by the Real Estate Regulatory Agency (Rera) Branches Will do all documentation services.
- If you are applying for a limited liability license, the branch consultant will need to prove your capital requirements by depositing the required amount in a commercial bank and obtaining an undertaking from that bank that the deposited amount will only be released to the managers upon proof of company registration in UAE.
- If one of the partners of the LLC is an existing company, a copy of that company’s memorandum must be translated, notarized at Dubai Courts and submitted along with the rest of the documents outlined on the DED website. The BCM Corporate business setup clerk at the DED will assign a time to pick up the approved application.,
- pay the final fees and submit an application to be inscribed in the ministry’s commercial register of UAE. Once the formal licenses is awarded, the IBSS business giving services in UAE companies must apply to become a member of the Dubai Chamber of Commerce and Industry.
Contact us Software Company Setup in Dubai
We at BCM Corporate services LLC, extend our quality services to our client with well experienced & qualified Business consultant with rich expertise in document attestation Services in Dubai so that client’s requirements of Business setup in Dubai. can be completed on time with satisfactory Results outcome. Please feel free to reach us for your Business setup and Company Setup in Dubai requirements on our email id: firstname.lastname@example.org or call us on +971502585921