Incorporation in UAE
United Arab Emirates
The unique characteristic of onshore companies registered in the Free Trade Zones – tax absence for almost all types of business activities. In addition to it, the company is able to have a real working office and be managed from the UAE. Thus an onshore company can prove its resident status in the UAE without any tax consequences, which nowadays is an important factor, since the question of actual residency of companies becomes especially acute now.
Offshore UAE company
Incorporation of an offshore company is the acknowledged and effective instrument of tax planning and assets protection. Offshore companies in the UAE differ from alternative offshore jurisdictions in other countries by good reputation and absence of an offshore jurisdiction’s image.
Advantages of offshore companies in the UAE
- Shareholders – physical and legal entities
- No restrictions of residency and citizenship of directors and shareholders
- No taxes
- Share capital – no minimum share capital requirement
- No currency control
- No requirement for the accounting and audit
- Minimal amount of directors – one
- Minimal amount of shareholder – one
Offshore company incorporation and bank account opening in the UAE with comfortable services and low services fees is an effective and reliable solution for the conduct of international business. Limitations include such criteria as the inability to rent an office in the country and inability to obtain a resident visa in the UAE (these limitations can be resolved by the emirate’s onshore companies).
POPULAR PACKAGE
- RAK IBC
- Originals of incorporation documents
- Certificate of incorporation
- Resolution on director appointment
- Registered address
- Company seal
Advantages of onshore companies in the UAE
- Shareholders – physical and legal entities.
- No restrictions of residency and citizenship of directors and shareholders.
- No taxes.
- Share capital – in some cases share capital deposit is not mandatory.
- No currency control.
- Minimal amount of directors – one.
- Minimal amount of shareholder – one.
In addition to tax absence, advantages of onshore companies in the UAE also include possibility to get resident visas for shareholders, directors and employees of the company. In case, if you transfer a part of the business to the UAE, you will be able to enjoy advantages of inexpensive labour force, minimal wages’ payments, cheap energy and powerful logistic infrastructure.
Documents required to register an UAE onshore company
- Passport copy of the founder and/or director.
- Recommendation letter from a bank in the name of the founder and/or director in English
- Proof of residential address (e.g. receipt of utility payments) in English
- Short CV - 2 originals, self-attested (signed) in English
- Business description (signed)
And in addition, in case company registration is done remotely:
In cases where the MOA is signed outside the UAE, all three sets of the MOA, in original form, must be notarized by a Registered Notary Public or be formally certified by a Government approved certifying officer. The notarization or certification must not be dated more than three (3) months prior to the date of relevant application before RAKIC. The passport copy of the shareholder must be notarized also.
Signing of MOA by shareholder may be witnessed by an Appointed Witness. Standard procedure stipulated by RAKIC must be followed for Appointment of Witnesses. A duly notarized passport copy of the appointed witness must be submitted.
Hamriya
A company of this type gives opportunity to trade (with up to 5 groups of products) or consulting activities in the territory of the Free Trade Zone and abroad. Advantages: There is no need to deposit share capital, since part of the company registration costs will be offset against the share capital (i.e. share capital is not to be introduced additionally). The timeframe for registration is 3-4 days. It is possible to apply for up to 4 visas (3 years validity).
Hamriya option II
A company of this type enables to trade without restrictions on the number of products on the territory of the Free Trade Zone and abroad. Advantages: There is no need to deposit share capital, since part of the company registration costs will be offset against the share capital (i.e. share capital is not to be introduced additionally). The timeframe for registration is 3-4 days. It is possible to apply for up to 5 visas (3 years validity).
Ajman
The company will be able to hold trading activity on the territory of the Free Trade Zone and abroad. Advantages: Share capital can be deposited in 4-6 months after the company registration (min. USD 50.000.-, – can be used without any limitations). The company is not obliged to pass an annual audit. Registration timeframe: 3-4 days.
Possibility to apply for up to 5 visas (3 years validity).
Ajman option II
The company will be able to hold trading activity (1 group of products) on the territory of the Free Trade Zone and abroad. Advantages: Share capital can be deposited in 4-6 months after the company registration (min. USD 50.000.-, – can be used without any limitations). The company is not obliged to pass an annual audit. Registration timeframe: 3-4 days. Possibility to apply for up to 2 visas (3 years validity).
SAIF
The company enables to trade without restrictions on the number of products on the territory of the Free Trade Zone and abroad. Advantages: Proximity to Dubai, access to the airport, the possibility of registration of companies engaged in air transportation. Possibility to apply for up to 2 visas (3 years validity).
SAIF option II
The company enables to trade without restrictions on the number of products on the territory of the Free Trade Zone and abroad. Advantages: Proximity to Dubai, access to the airport, the possibility of registration of companies engaged in air transportation. Possibility to apply for up to 5 visas (3 years validity).