A business setup in Dubai can be a lucrative opportunity to make profits, grow internationally, and create a reputed brand name. At BCM Corporate Services LLC, we have years of experience nurturing businesses across all scales and industries for a hassle-free establishment in Dubai.
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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,
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.
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.
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.
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: info@branches.ae or call us on +971502585921