COMPANY FORMATION IN UAE
Investors can follow a well-structured process to form a corporation in the UAE. The region’s expanding business opportunities are driving its growth. The following business advantages make UAE the top location for investors to establish a new company.
- Government backing,
- A robust network of foreign and local commercial banks,
- Ease of doing business
- No personal and corporate taxation
- Complete foreign ownership
The United Arab Emirates is home to thousands of global corporations, including Fortune 500 firms. There are about 40 Free Trade Zones operating in the UAE that offers various options for establishing a business.
The Free Zones of UAE allow foreigners to own 100 percent of a company’s stock. Additionally, they may hire anyone from any country. An international investor has complete freedom to register a corporation in the UAE and open a corporate bank account. The total New Company Formation charge for a UAE mainland trading company is around AED 25,000. Investors may also form a civil company with between one and fifty shareholders. According to the most recent Commercial Companies Law, a Civil Work Company is not required to have a Local Service Agent.
Merak Tax Consultant has 10 years of experience in the UAE company creation industry. It directs investors to the appropriate Free Zone to establish their business in the UAE. With Merak Tax Consultant, the process of registering a business license is simplified and streamlined for investors.
COMPANY FORMATION IN FREE ZONE
The United Arab Emirates consists of seven emirates (Abu Dhabi, Ajman, Sharjah, Fujairah, Ras al-Khaimah, Sharjah, Umm al-Quwain). Each Emirate has its Free Zones with its tax, import, and customs policy.
The Free Zone Companies in Sharjah are the ideal option for international investors seeking to establish a firm. The Free Zone Companies enjoy the freedom of foreign ownership of one hundred percent. There is no taxation, full repatriation of profits, a world-class office infrastructure, visa quotas, 24/7 access, and more. The New Company Formation Procedure in Free Zones is generally simple and uncomplicated. However, the ideal method to execute is with the support of a professional business consultant such as Merak Tax Consultant.
These Free Zones offer foreign investors 100 percent ownership. As the Registered Agent of major Free Zones, Merak Tax Consultant provides comprehensive business creation services in the UAE. We will select the appropriate free zone and licensing package in the UAE based on your specific requirements.
COMPANY FORMATION ON MAINLAND
Company incorporation in Sharjah Mainland is a popular option for retailers, traders, and professional service providers. As there are vast opportunities for expansion through the addition of additional branches and retail locations. Merak Tax Consultant can assist you by providing best company formation agent in Sharjah, and other Emirates. Our team will assist you throughout the entirety of the company registration and visa processing procedures.
There are numerous possibilities for establishing a company on the mainland of the United Arab Emirates. Most prevalent is the Limited Liability Company. For enterprises with a single owner, the investor may select between a sole proprietorship and a civil work company.
The UAE Economy grants professional licenses to investors in the fields of legal services, accountancy, medicine, and so on. This license permits the corporation to conduct business on the UAE mainland.
Large and medium-sized businesses in industries such as manufacturing, heavy equipment maintenance, etc., prefer a commercial license. The UAE Mainland provides manufacturing enterprises with a commercial license, land, and pre-built facilities at cheap prices.
COMPANY FORMATION IN OFFSHORE
Offshore Companies and International Business Companies are other types of business in the UAE. Visas are ineligible for offshore businesses. In UAE, there are three offshore jurisdictions:
- Ajman Offshore
- RAK ICC
Through the Registered Agents of the various Offshore jurisdictions, you can form an offshore business. Merak Tax Consultant is the registered agent for the leading Offshore Jurisdictions in the UAE, Ajman Offshore, and RAK ICC.
COMPANY FORMATION PROCESS IN UAE
The Company Formation Process in UAE varies among the three major business jurisdictions based on a variety of criteria. These are the necessary legal structure, documentation, and approvals for conducting business. Expert Business Consultants such as Merak Tax Consultant will help you through the new company formation procedure in the UAE and ensure a smooth registration process. A step-by-step approach must be followed to start a successful firm in UAE.
- TRADE NAME & ACTIVITY APPROVAL
Obtaining the Trade Name and Business Activity Approval is the initial step in forming a company in the UAE. A crucial component of the company formation procedure is the selection of the appropriate business license type and business activities permitted by the license.
In the Free Zones, the Free Zone Organization will serve as the governing authority. Similarly, on the UAE’s mainland, it is the appropriate Emirate’s Department of Economic Development.
- COMPANY INCORPORATION & LICENSE
Once the business jurisdiction, business license, and business activity have been confirmed, it is time to search for convenient office space and draft the rental agreement. The investor must now submit the necessary paperwork and the business licensing fee to obtain a company license.
In addition to the Trade License, the Investor will obtain all company documentation, including the Memorandum of Association, Company Stamp, etc.
- OBTAINING A RESIDENCY VISA
After obtaining the business license and company documentation, the investor can apply for a UAE residence visa. The company’s Investor Visa is valid for 3 years (renewable). Depending on the visa allocation, the company will also be allowed to apply for work visas (renewable for two years). The company owners must pass a Medical Exam and obtain Emirates IDs to complete the UAE Residence requirements.
- BANK ACCOUNT
As soon as the investor obtains the company documentation, UAE residency visa, and Emirates ID, he or she can create a personal and corporate bank account for the company to commence trade operations. Merak Tax Consultant assists with opening Bank Accounts with Banque Misr, Mashreq Bank, and Emirates NBD.
Merak Tax Consultant will help you with all aspects of company establishment. Consequently, you may relax while our Expert PRO Agents do the aforementioned chores. We guarantee the smoothest new company formation in the UAE and prompt delivery of all company documentation. Thus enabling investors to commence commercial operations in UAE at a faster rate.
On occasion, our clients require Merak Tax Consultant to deregister their business and liquidate their bank account. Company deregistration is the best course of action if the following conditions are met: I the company has ceased operations; ii) it is not and will not be involved in any court proceedings; iii) it has no assets and liabilities; iv) it has no outstanding penalties or offers of compensation, is not indebted to other government departments or has any outstanding tax liabilities; v) it has no outstanding charges in its charge register, and vii) none of the company’s officers have This section provides a summary of corporation deregistration.
- Company deregistration is the most cost-effective way to dissolve a business (since it removes the requirement to pay ongoing annual company maintenance fees). Merak Tax Consultant suggests this tactic to all customers to avoid harmful and expensive judicial actions;
- Although procedures for corporation deregistration differ by state, the average engagement lasts between three and six months.
- Typically, companies are deregistered as follows:
- Closure of company bank account;
- Lodgment of a company deregistration application with the relevant corporate regulatory authority;
- If the company deregistration application is approved, a “striking off” notice is sent to the company’s registered office address, as well as to the directors’ residential addresses and relevant tax authorities;
- A period of time (normally one month) is given in the “striking off” notice to anyone who may wish to object to the company’s deregistration. After the notice period, a notification of the intention to remove the company from the company register is made and published in a government gazette (if applicable);
- Notification is given that the firm has been completely deregistered.
- Merak Tax Consultant will oversee the company deregistration process for our customers from start to finish. The following are examples of our support in this regard:
- Submitting company deregistration paperwork to the relevant authorities, together with completed application forms if necessary;
- Closing the business’s bank account;
- Following up on the deregistration application and supplying further supporting information if necessary.
The company deregistration fees charged by Merak Tax Consultant vary by jurisdiction based on the intricacy of the procedures. Our fees are published on the website for each jurisdiction. Please contact us for additional details.
WHAT ARE THE DOCUMENTS OBTAINED BY THE INVESTOR AFTER THE COMPANY FORMATION IN THE UAE?
The investor will obtain minimal documents from the government for a new Company Formation in the UAE. The following are:
- Company Incorporation Certificate
- Memorandum of Association & Articles of Association
- Trade License with the selected business activity stated (if any)
- Office Tenancy Agreement/ Lease Contract (if any)
- Emirates ID and UAE Residence Visa for the Investor (if applicable)
- Any additional supporting documentation according to the business activity and business jurisdiction
Due to the 100 percent foreign ownership in Free Zones and the mainland, New Company Formation in the UAE is soaring. In addition, the competitive price of the business packages and the abundance of additional commercial advantages make the UAE an investor’s top pick.
The low taxation, world-class commercial infrastructure, and business-friendly government laws, among other factors, make it the ideal global business destination.
HOW MERAK TAX CONSULTANT WILL ASSIST YOU IN THE COMPANY FORMATION PROCESS IN UAE?
When it comes to assisting in the establishment of new companies in the UAE, Merak Tax Consultant is the best company formation agent. As the most reputable business formation expert in UAE, we offer the most affordable company formation packages. Additionally, we offer business advisory services to international investors. Our staff of company formation agents will evaluate your business and assist you in selecting the most suitable company formation package.
Merak Tax Consultant takes a holistic approach that allows investors to concentrate on their primary business operations. Our PRO Agents will manage all administrative tasks for your firm. We guarantee the lowest pricing for all new company creation services in UAE. Contact our team of seasoned company formation agents immediately!
Contact our professional Business Consultants to learn more about the most recent UAE Company Formation Packages.