| Faqs |
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What is the best efficient way to setup company in the Dubai free zone? |
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Price tag to setup a company at Dubai free zones depends upon the number of visas & office space required. Though, Free Zones in Ras Al Khaimah, Ajman, Sharjah Saif Zone, Hamariva Free Zone & Fuzairah free zones are cheap compare to free zones in Dubai.
Following are the information:
- Dubai free zone yearly Charge $ 5,500 to $6500/-(1-2 entry permits) with workplace desk - has to be paid yearly at the time of renewal.
- Dubai free zone yearly Business Setup Rate approx. $11,000 (for up to four entry permits) with workplace desk - has to be paid yearly at the time of renewal.
- Assets $ 27,000 to $ 50,000/- has to be deposited (depends upon the Dubai free zone).In some Dubai free zones assets has to be deposited and in some cases within 90 days the deposit has to be made.
- In case of Local investor must be there at the time of incorporation or POA can be presented, properly notarized in the country of origin.
- Time to Setup Business in Dubai depends upon free zone to free zone (from 2-3 days to 5-6 working days).
- Dubai Visa Charges - financier visa will charge $450/- in some Dubai free zones & Visa cost for Employees will be $1,500/- approx+Labour assurance of One salary + one way return ticket. Visa is legal for three years. Visa stamping requires 7-8 working days.
- Some Dubai free zones obtained General trading license.
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Why set up a Company in the Free Zone? |
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In Dubai Free Zone offers both 100 per cent tax exemption and 100 per cent business ownership on the other hand outside Free Zone Local Partner will hold 51% share & Foreign Partner will hold 49% share in the capital. |
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Which Free Zone is more economical to set up a Company? |
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Answers to above questions depend upon, the following aspects. |
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- Nature & Size of the Business.
- Funds (rate to set up the business in Dubai Free Zones)
- Visa necessitated ( depending upon the charge and volume of the office)
- Necessities of the Company (customer / dealers wants to visit to the office or retail business)
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Can I operate business from Dubai , if the Company is set up in any other Emirates? |
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Yes, you can operate business from Dubai and open a bank account also in Dubai , but the Certificate of Origin, if required, has to be obtained from the Chamber of Commerce where the company is set up, for export proposes. |
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Can I apply for driving license in Dubai , if I have visa from another Emirates? |
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No, Driving License File has to be opened in the same Emirate from where the visa is stamped. However, in special cased, If NOC is issued by the Traffic Dept. of other Emirates then driving license can be applied in Dubai. |
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After Setting up of Company? What other immediate formulates have to be done to start the business? |
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- After setting up of Company ( after getting trade license ), Bank Account has to be opened
- Visa of investor / staff has to processed ( Six months validity of the passport required)
- P.O.Box has to be obtained
- Rubber stamp has to be made
- Telephone connection has to be applied
- For Import & Export from Dubai Port , exporter's code (custom code) has to obtained.
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What will be legal status of the Company out side the Free Zone & in the Free Zone? |
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Out side Free Zone following are the most popular from of companies: |
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- Limited Liability Company(L.L.C Partnership) Establishment ( Owned by local) and branch In Free Zone Following are the most popular form of companies:
- FZC (Free Zone Company, this is proprietorship company
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- FZE(Free Zone Establishment. This is proprietorship company
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- Branch (branch of a Local Company or Foreign Company
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How will the initial capital be generated and deposited in the bank to set up the Company? |
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Cash being your personal saving can be deposited in any bank in the U.A.E. as a capital on Issue of letter from the Free Zone.
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Are there any income taxes or corporate tax levied in UAE? |
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No, there is no income tax or corporate tax as such, however 5% custom duty has to levied on import, if the Company is outside Free Zone also the same can be clamed refund upon the re-export. |
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How can we sponsor the family? |
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Once residence visa is stamped on the passport family (wife and children) visa can be processed. For an Employee, to sponsor his family a minimum AED 3000/- + Accommodation or AED 4000/- + salary is required. |
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What is the terminal benefit laws concerning Employees? |
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As per UAE labor laws, Leave salary and Air passage has to be paid to the employee every year, however gratuity is payable only if employee completes one year. |
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Do we have to submit the audt reports to the government? |
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Audit repot is mainly required by the banks to get the bank facilities also to renew the license, some Free Zone has made it compulsory to submit bathe audit report, in some other case it is statutory requirements. |
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What is the advantage of buying free hold property of
EMAAR or Nakheel
in the name of Offshore Company in jewel Ali Offshore Free Zone? |
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Transfer fees and Sharia Laws can be avoided if property is bought in the name of the Offshore Company in Jebel Ali. |
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Is it possible to liquidate or close the Company immediately?
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No, liquidation of Company outside Free Zone and in some Free Zone is time consuming and also expensive. |
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Can tax authorities or any other "third party" get information about the beneficial owner of the Offshore Company? |
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To preserve the confidentiality of the beneficial owners we recommend using the nominee services of director and shareholder, which we proved. You can also consider using bearer shares. Government Authorities can request the information from the agent only with a courts order but they would have to present very strong evidence of your illegal activates in court for such order to be granted.
If is always advisable to incorporate an IBC by using offshore incorporators, rather than using the services of your domestic incorporators. We are not under any obligation to cooperate with your county's tax authorities, but incorporators can be. |
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Benefits of the Dubai Free Zone |
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- Excellent Sea port and International Air Port facilities.
- Transparent lows and regulations.
- Simple and fast application procedures.
- Everything under one roof.
- Long term renewable lease
- Strategic location with access to over 1.2 billion consumers.
- 100% income and corporate tax exemption
- 100% Capital & Profit repatriation,
- 100% foreign ownership.
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To setup your business in uae, dubai, setup company in dubai, uae, free zone or outside free zone, Contact us for free quote, information. |
