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When you want to start your business or setup an offshore company anywhere in the world, it is challenging to understand what are the choices and opportunities available for the companies that can be created and to regularize your new business.
We help entrepreneurs to establish their businesses and setup companies across the world. Our service includes the establishment of the Commercial License, Trading License and Professional License, along with Share Certificate, Certificate of Incorporation, Memorandum of Association, Memorandum of Articles and the Lease Contract of your physical or virtual office. We manage the whole process of the company setup from A to Z including the assistance in opening a Corporate/Personal Bank account.
Thallium Consulting provides you with information on the different types of companies/sectors that exist around the world. We guide you towards the most appropriate solution depending on your structure and business needs.
Company Setup in Dubai
CHECK THE AVAILABILITY OF COMPANY NAME
SELECT THE LICENSE TYPE / BUSINESS ACTIVITY
PREPARATION OF LEGAL DOCUMENTS
SIGNATURE
ENJOY DUBAI
RECEIVE YOUR LICENSE
A common choice for those seeking the most cost-effective company license in the UAE There are more than 45 Free Zones in the UAE. Each has its own rules and regulations. If you are a startup company, then Free Zones facilitate business activities and attract companies looking to startup businesses and also Other licenses which include activities such as consultancy licenses, service licenses, commercial trading licenses, industrial licenses, and holding licenses are also issued by Free zone. Setting up a business entity in one of the UAE Free Zones is an attractive option for foreign investors, as Free Zones facilitate business activities and attract companies to start businesses quickly and easily. Foreign investors can retain 100% of their businesses without the need for a local partner. The Free Zone areas in the UAE are geographically distinguished sections, and follow laws and regulations that may be different from the laws in the Mainland Authorities. It is important to understand that the activities of companies registered in the FZE are limited to the domestic market of the UAE, but these companies can work freely in the international market. Free zone Establishments have a single shareholder. In most Free Zones, companies are taxed minimally, to encourage economic activity.
ADVANTAGES
- The ability to conduct a broad range of business ventures & activities.
- The registration process is simple and hassle-free.
- 100% repatriation of capital and profits are admissible.
- Freedom to rent commercial and warehouse premises anywhere in the UAE.
- You can get a residence permit in the UAE for employees and Shareholders of the company, as well as their family members.
- There is no minimum capital requirement for the formation.
- They have the flexibility to do their business in any part of the UAE.
- You can work with Government and non-government bodies with much scope of diversity.
- You can open multiple branches of the company to build your Business branches
- The flexibility of adding Visa quota
- There are no currency restrictions.
- Exempted from corporate tax.
- There is no yearly audit requirement.
- Flexible to trade anywhere in the UAE and internationally.
PROCESS
- Choosing your business activity
- Pre-check if the Activity needs special approval company Registration
- Provide Company Name (Provide 5 Desired name)
- Trade Name registration
- Initial License approval
- Issuing of Business License
- Establishment Card Application
- When the Establishment Card is out, the Visa application can start (if required).
- Our Public Relations Officer “PRO” will guide you with the visa processing and residential visa stamping process.
- Processing your visa (INSIDE OR OUTSIDE)
- If Inside additional CHANGE STATUS IS REQUIRED (Present Visa CHANGED to New Visa)
- Schedule Medical / Emirates ID process
- Residence Visa Stamping
TIME FRAME
- Business License → 24 Hours
- Establishment Card → 24 Hours
- Visa Process Partner / Employee → 1 – 3 Partner Working Days, 5 – 7 Employee Working Days
- Change Status → 1 – 2 working days
- Residence Visa stamping → 1 – 2 working days
Advantages of setting up Business in Dubai Mainland
A mainland company is an onshore company licensed by the Department of Economic Development (DED) within the UAE which is permitted to do business in the local market and outside the UAE without any restrictions.
Considering the advantages associated with this kind of legal structure, the mainland Company is one of the best options for a Business Set up in the UAE.
Opting for a Dubai mainland company, this kind of Business setup offers key benefits if you want maximum freedom and flexibility for your corporate entity. It allows you to trade in any product approved by the concerned authorities.
While some legalities are involved in creating a mainland company in Dubai, you can get things done quickly by seeking professional advice from a reputable business setup company like ours.
As per the new regulations that are brought into practice with effect from June 2021, a local sponsor is no longer required for conducting most of the business activities within the UAE. Instead, the local partner could act as an agent without any shares in the company.
The type of license depends on the type of business activities you wish to carry out. Having aligned your chosen activities with the official Department of Economic Development list, which features over 2,000 options, you can determine the most suitable license type. These licenses are issued by the DED (Department of Economic Development). However, licenses for a few categories of business require approval from specific ministries and other government authorities.
When you decide to set up the mainland company in UAE, some of the prime advantages are the freedom to trade -across Dubai and internationally, the ability to diversify, the freedom to grow your company in terms of unlimited visas and expand your business.
Mainland registration in Dubai has another potentially attractive feature – it gives you the scope to tender bids for lucrative government contracts.
Types of Ownerships
Professional Sole Establishment company
This kind of company can have 100% Single foreign ownership with a local agent.
The new rule allows the activities under Sole Establishment to be 100% foreign-owned, using a Sole Establishment or Foreign Branch Structure, which means it can be owned 100% by a person or a foreign entity. However, this establishment will still require a National Service Agent (NSA) or local sponsor for licence responsible for managing licensing requirements. The Local Service Agent’s role is to assist in obtaining a license, labour card, Visa and etc.; he has no direct involvement in the company/business and is paid a sponsorship fee every year lump sum.
Types of Licenses
Commercial (LLC) company
The Commercial LLC Company is an entity with 100% foreign ownership having more than two shareholders and a local sponsor/agent.
This kind of entity can be formed for most business activities, including trade, tourism, logistics, and much more, allowing 100% foreign ownership.
Or
Some activities require a local nominee shareholder, holding 51% of the company shares, and 49% will be distributed to the foreign shareholders.
1. Commercial License
Commercial License is usually issued for the business establishments that undertake buying and selling goods or services or for those involved in activities such as trading. Most of the traders opt for the general trading license to manage more than one trading endeavour with a single license. Commercial licenses are quite common in Dubai and UAE mainland. The complete formalities connected with Professional License like issuance, amendment, cancellation can be accomplished instantly.
2. Professional License
The license is issued for firms that offer service-oriented endeavours. Professional Licenses are required for professionals who take part in any professional activity like consulting.
3. Industrial License
The Industrial License is issued for firms involved in manufacturing goods and activities like factories, industries, etc. When it comes to Industrial licenses, you may require to seek the approval of government departments and External Ministries depending upon the type of business activity.
The main benefits of establishing a mainland company include:
- 100% foreign ownership for most of the activities.
- Issuance of License in 24hrs.
- Freedom to rent commercial space in any area.
- Choose from an extensive range of business activities.
- Option to trade anywhere in the UAE and internationally.
- Open a corporate bank account quickly.
- The advantage to bid on government projects.
- Easy employment visa processing.
- No currency restriction.
- Favourable geographical location.
- Corporate tax exemption.
- Income tax exemptions.
- Improved business opportunity.
- Easy processing of residence and employment visas.
- Annual auditing is not mandatory.
Some activities that do not require special approval and can obtain license within 24hrs
Business Entities Management Services:
The Business Entity Management Services includes the provision of advice and assistance as well as overseeing and managing the facilities owned by others. However, it is vital to note that these firms are neither allowed to provide the manpower to such facilities nor engage in maintenance and cleaning activities. They are also not permitted to practice labour recruitment and employment.
Project Management:
This category of firms specializes in managing and guiding project processes from start to finish. It includes planning, organizing, monitoring, and controlling resources and procedures to implement and achieve the project’s objectives. It manages budgets and resources to achieve organizational goals, plan and develop schedules, and ensure timely completion of projects.
Computer Systems & Communication Equipment Software Design:
This category includes firms specializing in computer software designing, implementing, operating, and maintaining IT peripherals to identify the user’s problems and the need for such solutions. It also involves designing software applications that are designed to run on smartphones and mobile devices.
Investment in Commercial Enterprises & Management Services:
It includes firms and holding companies formed specifically to invest their funds through the establishment of subsidiary entities.
A holding company is a business entity, normally a corporation or LLC (limited liability company). Typically, a holding company doesn’t sell products or services, manufacture or conduct other business operations. Rather, holding companies hold the controlling stock in other companies. On the other hand, the Management Firms cover the administration of such subsidiary companies and their affairs.
Vacation Homes Rental:
This category includes firms engaged in renting out the furnished accommodations on behalf of owners to vacationers daily, weekly, monthly, or annual. It also involves renting the unit as a whole and not partially as rooms or beds.
Portal:
Includes firms operating websites that act as portals to the internet, via PCs and digital devices, to link buyers and sellers and service providers and users together to make deals; it also involves listing sellers.
Garments Trading:
Includes reselling clothes and apparel for men, women and children such as coats, suits, jackets, skirts, shirts, trousers, shirts, coats, gloves, swimming wear, socks.
Electronic Games Arcade:
This includes operating halls where people get together for playing electronic and video games.
Events Organizing & Managing:
Includes the organization and management of events, which involves devising the event, coordinating the technical aspects, planning logistics before executing the modalities of the event; the activity applies to a variety of sectors, such as marketing programs, corporate events, general meetings, gala dinners and launches, team building, award ceremonies, press events and children parties.
Web Design:
Includes firms specialized in designing the pages of the electronic services sites; the internet is used here as infrastructure. Some of the services offered under Web designing are Content creation, Coding, Programming, SEO, etc.
Some activities that require special approvals are:
Rentals:
You can select from a wide range of activities that fall under the Rental Category. Some of the activities under this group include car rental, renting motor, furniture, home and many more. These categories require RTA department approval.
Food:
You can select from a wide range of activities under this group, such as catering services, the establishment of restaurants, coffee shops, or trading of food supplements. It is worth noting that these activities require approval from the Dubai municipality and the food and safety department. Dubai Municipality is the government agency whose Food Safety Department is responsible for inspections and regulating best practices for foodstuff trading in Dubai. Therefore, every company trading in foodstuff or similar activities must register with the Dubai Municipality.
Clinic:
To set-up a healthcare business in Dubai, one needs to have a medical degree or be a Director with a relevant qualification. A degree or international diploma is not enough to open a private hospital in Dubai and is subject to the certification procedure in the UAE. All the team must be fully certified at all levels by the DHA (Dubai Healthcare Authority). Additionally, knowing the English language (reading as well as writing) is a mandatory condition.
You can select from an extensive range of business activities under this group, such as forming a Polyclinic, Aesthetic Clinic, Dental clinic or General clinic. These are crucial categories of businesses, and therefore they require approval from the Dubai Health Authority.
Real Estate:
You can select from a wide range of activities under this group such as Real Estate Consultancies, Buying & Selling of Real Estate, Brokerage, Management of properties and Real estate development. Approval from the RERA (Real Estate Regulatory Agency) is needed for real estate activities and Business Centre Activities.
Security:
You can select from various activities under this group, including security services, security systems and equipment trading, and security training. Once you have received your license, you will additionally require police clearance to undertake security activities in the UAE. Eventually, depending on the nature of your security business, you may need approval from the UAE’s Security Industry Regulatory Agency (SIRA).
Following are the steps involved in setting up a company or business in Dubai:
- Reserve a company trade name
- Apply for initial approval
- Apply for External approvals (only if the selected activity requires external approvals)
- Provide the company Ejari (Ejari is a tenancy contract, rental agreement, or a tenancy contract registration) registered under the reserved trade name.
- The signing of the Memorandum of Agreement.
- Issuance of Company Licence
- Comply with labour rules.
- Visa Process
- Open bank account
About the United Arab Emirates
UAE is officially known as the United Arab Emirates and commonly as Emirates. Arabic is the official language of the UAE. It’s a Western Asian country situated at Arabian Peninsula’s eastern end. It has its borders with Saudi Arabia and Oman. It is an elective monarchy consisting of a federation of seven Emirates including:
- Dubai
- Ajman
- Abu Dhabi
- Umm Al Quwain
- Sharjah
- Ras Al Khaimah
- Fujairah
Each of these seven Emirates is governed by a Ruler ( whose reign is based on hereditary sheikhdom), and together they form a Federal Supreme Council.
The Oil and Natural gas reserves of the United Arab Emirates have ranked 6th and 7th largest in the world. Abu Dhabi’s ruler, Zayed bin Sultan Al Nahyan, oversaw the Emirate’s development by investing their oil revenues into infrastructure, education, and healthcare.
UAE has always welcomed immigrants with open hearts. Surprisingly, immigrants and expatriates account for a massive percentage of the overall population in the United Arab Emirates.
UAE has the most diversified economy among all Gulf Cooperation Council’s members. Overall, UAE has a developed economy and is one of the wealthy states in the world. However, Dubai is the most populated city in the entire UAE. It is famous for being an international hub and global city.
Over time, the country has become more focused on business and tourism and less reliant on its oil reserves. To make UAE a go-to place for investors to set up offshore companies, the UAE government decided not to levy an income tax.
Many reasons make offshore company formation in the UAE one of the most sought-after investment opportunities for investors worldwide. It is essential to learn about the benefits of offshore company formation before setting up an offshore company in emirates.
Benefits of the offshore company formation in UAE
When it comes to knowing how to set up an offshore company in UAE, most people prefer to apprehend the advantages of offshore company formation in the Emirates. Accordingly, here we have enlisted some of the real benefits of the offshore company set up in the UAE.
- The country offers fantastic tax advantages to its investors, and it is one of the fastest-growing economies in the world.
- UAE has earned 17th rank in the Global Competitiveness Index. It is also ranked 1st in the Arab world due to the best infrastructure and business environment.
- Abu Dhabi and Dubai are the two most sought-after destinations for offshore companies and are considered a major attraction for most foreign capitals.
- Fortunately, there are no restrictions and exchange controls on capital and profit repatriation for foreign investors.
- The offshore company set up UAE can be an ideal way to book international profits legitimately if the company is structured efficiently.
These reasons, as mentioned above, have made the United Arab Emirates one of the most sought-after and preferred destinations for foreign investment, especially in the Middle East.
Corporate banking solution for offshore company formation in UAE
To start business activities, it is mandatory to have a corporate banking solution. For this, make sure to look at the services offered by the bank for offshore companies and apply accordingly to open your corporate bank account. Fortunately, the banking system in UAE is offshore-friendly, and with the help of Thallium Consulting, one can easily find a reliable banking solution from almost all the renowned banks in UAE.
It is important to note that the overall safety of banking in the UAE is quite attractive. However, the requirements to open a corporate account in UAE vary from bank to bank. Therefore, we at Thallium Consulting always perform proper due diligence before applying anywhere.
All in all, UAE’s corporate banking solutions are secure, reliable, and traceable worldwide, with no or minimal restrictions on your transactions.
The renewal process of the company in the UAE
Acquiring a license for your offshore company formation in UAE and its annual renewal isn’t a simple task. It is because the process requires tedious documentation and procedures to complete in this regard.
Even more, it isn’t only the cost of registering your company that people want to know while considering offshore company set up in UAE, but also the renewal process and fee of offshore company formation in UAE. Thus, Thallium Consulting plays a massive role in processing all the formalities on your behalf. The details of the process are listed below:
- You can complete the renewal process of the company in the UAE, both offline and online. For offline renewal, you will need to get help from an authorized service provider. Hence, Thallium Consulting assists you with the renewal of your offshore company by handling end to end processes.
- Before applying for company renewal, make sure your tenancy contract is still valid.
- Next, you must apply for the company renewal process by submitting an application along with the necessary documents.
- The authority will then allow you a payment voucher to pay your company renewal fee.
Once you have completed the payment, you can get your renewed company license.
Perks of the offshore company formation in UAE as a Tax-Haven
UAE is the meeting point of west and north, making it a more strategic location to consider for Offshore company formation.
Even more, young entrepreneurs and startups can find it super easy to establish their entity in UAE. They can also start their tax-free offshore company formation in UAE. Fortunately, the local government supports offshore companies through minimal bureaucracy, unlike other popular countries globally. All of these benefits have made offshore company formation in UAE a desirable solution for most.
UAE being a tax haven offers foreign individuals & Businesses little or no tax liability in a Politically & Economically static environment.
Besides this, UAE offers lucrative tax advantages, including income tax exemption for both your company employees working here and foreign entrepreneurs residing in the UAE. With a properly structured offshore company set up in UAE, you can also enjoy exemption from tax on capital gains. However, in some areas, you have to pay a 5% value-added tax in UAE. Overall, UAE is an excellent location for international businesses who are seeking offshore company set-up.
- + FREE ZONE COMPANY
-
A common choice for those seeking the most cost-effective company license in the UAE There are more than 45 Free Zones in the UAE. Each has its own rules and regulations. If you are a startup company, then Free Zones facilitate business activities and attract companies looking to startup businesses and also Other licenses which include activities such as consultancy licenses, service licenses, commercial trading licenses, industrial licenses, and holding licenses are also issued by Free zone. Setting up a business entity in one of the UAE Free Zones is an attractive option for foreign investors, as Free Zones facilitate business activities and attract companies to start businesses quickly and easily. Foreign investors can retain 100% of their businesses without the need for a local partner. The Free Zone areas in the UAE are geographically distinguished sections, and follow laws and regulations that may be different from the laws in the Mainland Authorities. It is important to understand that the activities of companies registered in the FZE are limited to the domestic market of the UAE, but these companies can work freely in the international market. Free zone Establishments have a single shareholder. In most Free Zones, companies are taxed minimally, to encourage economic activity.
ADVANTAGES
- The ability to conduct a broad range of business ventures & activities.
- The registration process is simple and hassle-free.
- 100% repatriation of capital and profits are admissible.
- Freedom to rent commercial and warehouse premises anywhere in the UAE.
- You can get a residence permit in the UAE for employees and Shareholders of the company, as well as their family members.
- There is no minimum capital requirement for the formation.
- They have the flexibility to do their business in any part of the UAE.
- You can work with Government and non-government bodies with much scope of diversity.
- You can open multiple branches of the company to build your Business branches
- The flexibility of adding Visa quota
- There are no currency restrictions.
- Exempted from corporate tax.
- There is no yearly audit requirement.
- Flexible to trade anywhere in the UAE and internationally.
PROCESS
- Choosing your business activity
- Pre-check if the Activity needs special approval company Registration
- Provide Company Name (Provide 5 Desired name)
- Trade Name registration
- Initial License approval
- Issuing of Business License
- Establishment Card Application
- When the Establishment Card is out, the Visa application can start (if required).
- Our Public Relations Officer “PRO” will guide you with the visa processing and residential visa stamping process.
- Processing your visa (INSIDE OR OUTSIDE)
- If Inside additional CHANGE STATUS IS REQUIRED (Present Visa CHANGED to New Visa)
- Schedule Medical / Emirates ID process
- Residence Visa Stamping
TIME FRAME
- Business License → 24 Hours
- Establishment Card → 24 Hours
- Visa Process Partner / Employee → 1 – 3 Partner Working Days, 5 – 7 Employee Working Days
- Change Status → 1 – 2 working days
- Residence Visa stamping → 1 – 2 working days
- + MAINLAND COMPANY
-
Advantages of setting up Business in Dubai Mainland
A mainland company is an onshore company licensed by the Department of Economic Development (DED) within the UAE which is permitted to do business in the local market and outside the UAE without any restrictions.
Considering the advantages associated with this kind of legal structure, the mainland Company is one of the best options for a Business Set up in the UAE.
Opting for a Dubai mainland company, this kind of Business setup offers key benefits if you want maximum freedom and flexibility for your corporate entity. It allows you to trade in any product approved by the concerned authorities.
While some legalities are involved in creating a mainland company in Dubai, you can get things done quickly by seeking professional advice from a reputable business setup company like ours.
As per the new regulations that are brought into practice with effect from June 2021, a local sponsor is no longer required for conducting most of the business activities within the UAE. Instead, the local partner could act as an agent without any shares in the company.
The type of license depends on the type of business activities you wish to carry out. Having aligned your chosen activities with the official Department of Economic Development list, which features over 2,000 options, you can determine the most suitable license type. These licenses are issued by the DED (Department of Economic Development). However, licenses for a few categories of business require approval from specific ministries and other government authorities.
When you decide to set up the mainland company in UAE, some of the prime advantages are the freedom to trade -across Dubai and internationally, the ability to diversify, the freedom to grow your company in terms of unlimited visas and expand your business.
Mainland registration in Dubai has another potentially attractive feature – it gives you the scope to tender bids for lucrative government contracts.
Types of Ownerships
Professional Sole Establishment company
This kind of company can have 100% Single foreign ownership with a local agent.
The new rule allows the activities under Sole Establishment to be 100% foreign-owned, using a Sole Establishment or Foreign Branch Structure, which means it can be owned 100% by a person or a foreign entity. However, this establishment will still require a National Service Agent (NSA) or local sponsor for licence responsible for managing licensing requirements. The Local Service Agent’s role is to assist in obtaining a license, labour card, Visa and etc.; he has no direct involvement in the company/business and is paid a sponsorship fee every year lump sum.
Types of Licenses
Commercial (LLC) company
The Commercial LLC Company is an entity with 100% foreign ownership having more than two shareholders and a local sponsor/agent.
This kind of entity can be formed for most business activities, including trade, tourism, logistics, and much more, allowing 100% foreign ownership.
Or
Some activities require a local nominee shareholder, holding 51% of the company shares, and 49% will be distributed to the foreign shareholders.
1. Commercial License
Commercial License is usually issued for the business establishments that undertake buying and selling goods or services or for those involved in activities such as trading. Most of the traders opt for the general trading license to manage more than one trading endeavour with a single license. Commercial licenses are quite common in Dubai and UAE mainland. The complete formalities connected with Professional License like issuance, amendment, cancellation can be accomplished instantly.
2. Professional License
The license is issued for firms that offer service-oriented endeavours. Professional Licenses are required for professionals who take part in any professional activity like consulting.
3. Industrial License
The Industrial License is issued for firms involved in manufacturing goods and activities like factories, industries, etc. When it comes to Industrial licenses, you may require to seek the approval of government departments and External Ministries depending upon the type of business activity.
The main benefits of establishing a mainland company include:
- 100% foreign ownership for most of the activities.
- Issuance of License in 24hrs.
- Freedom to rent commercial space in any area.
- Choose from an extensive range of business activities.
- Option to trade anywhere in the UAE and internationally.
- Open a corporate bank account quickly.
- The advantage to bid on government projects.
- Easy employment visa processing.
- No currency restriction.
- Favourable geographical location.
- Corporate tax exemption.
- Income tax exemptions.
- Improved business opportunity.
- Easy processing of residence and employment visas.
- Annual auditing is not mandatory.
Some activities that do not require special approval and can obtain license within 24hrs
Business Entities Management Services:
The Business Entity Management Services includes the provision of advice and assistance as well as overseeing and managing the facilities owned by others. However, it is vital to note that these firms are neither allowed to provide the manpower to such facilities nor engage in maintenance and cleaning activities. They are also not permitted to practice labour recruitment and employment.
Project Management:
This category of firms specializes in managing and guiding project processes from start to finish. It includes planning, organizing, monitoring, and controlling resources and procedures to implement and achieve the project’s objectives. It manages budgets and resources to achieve organizational goals, plan and develop schedules, and ensure timely completion of projects.
Computer Systems & Communication Equipment Software Design:
This category includes firms specializing in computer software designing, implementing, operating, and maintaining IT peripherals to identify the user’s problems and the need for such solutions. It also involves designing software applications that are designed to run on smartphones and mobile devices.
Investment in Commercial Enterprises & Management Services:
It includes firms and holding companies formed specifically to invest their funds through the establishment of subsidiary entities.
A holding company is a business entity, normally a corporation or LLC (limited liability company). Typically, a holding company doesn’t sell products or services, manufacture or conduct other business operations. Rather, holding companies hold the controlling stock in other companies. On the other hand, the Management Firms cover the administration of such subsidiary companies and their affairs.
Vacation Homes Rental:
This category includes firms engaged in renting out the furnished accommodations on behalf of owners to vacationers daily, weekly, monthly, or annual. It also involves renting the unit as a whole and not partially as rooms or beds.
Portal:
Includes firms operating websites that act as portals to the internet, via PCs and digital devices, to link buyers and sellers and service providers and users together to make deals; it also involves listing sellers.
Garments Trading:
Includes reselling clothes and apparel for men, women and children such as coats, suits, jackets, skirts, shirts, trousers, shirts, coats, gloves, swimming wear, socks.
Electronic Games Arcade:
This includes operating halls where people get together for playing electronic and video games.
Events Organizing & Managing:
Includes the organization and management of events, which involves devising the event, coordinating the technical aspects, planning logistics before executing the modalities of the event; the activity applies to a variety of sectors, such as marketing programs, corporate events, general meetings, gala dinners and launches, team building, award ceremonies, press events and children parties.
Web Design:
Includes firms specialized in designing the pages of the electronic services sites; the internet is used here as infrastructure. Some of the services offered under Web designing are Content creation, Coding, Programming, SEO, etc.
Some activities that require special approvals are:
Rentals:
You can select from a wide range of activities that fall under the Rental Category. Some of the activities under this group include car rental, renting motor, furniture, home and many more. These categories require RTA department approval.
Food:
You can select from a wide range of activities under this group, such as catering services, the establishment of restaurants, coffee shops, or trading of food supplements. It is worth noting that these activities require approval from the Dubai municipality and the food and safety department. Dubai Municipality is the government agency whose Food Safety Department is responsible for inspections and regulating best practices for foodstuff trading in Dubai. Therefore, every company trading in foodstuff or similar activities must register with the Dubai Municipality.
Clinic:
To set-up a healthcare business in Dubai, one needs to have a medical degree or be a Director with a relevant qualification. A degree or international diploma is not enough to open a private hospital in Dubai and is subject to the certification procedure in the UAE. All the team must be fully certified at all levels by the DHA (Dubai Healthcare Authority). Additionally, knowing the English language (reading as well as writing) is a mandatory condition.
You can select from an extensive range of business activities under this group, such as forming a Polyclinic, Aesthetic Clinic, Dental clinic or General clinic. These are crucial categories of businesses, and therefore they require approval from the Dubai Health Authority.
Real Estate:
You can select from a wide range of activities under this group such as Real Estate Consultancies, Buying & Selling of Real Estate, Brokerage, Management of properties and Real estate development. Approval from the RERA (Real Estate Regulatory Agency) is needed for real estate activities and Business Centre Activities.
Security:
You can select from various activities under this group, including security services, security systems and equipment trading, and security training. Once you have received your license, you will additionally require police clearance to undertake security activities in the UAE. Eventually, depending on the nature of your security business, you may need approval from the UAE’s Security Industry Regulatory Agency (SIRA).
Following are the steps involved in setting up a company or business in Dubai:
- Reserve a company trade name
- Apply for initial approval
- Apply for External approvals (only if the selected activity requires external approvals)
- Provide the company Ejari (Ejari is a tenancy contract, rental agreement, or a tenancy contract registration) registered under the reserved trade name.
- The signing of the Memorandum of Agreement.
- Issuance of Company Licence
- Comply with labour rules.
- Visa Process
- Open bank account
- + OFFSHORE COMPANY
-
About the United Arab Emirates
UAE is officially known as the United Arab Emirates and commonly as Emirates. Arabic is the official language of the UAE. It’s a Western Asian country situated at Arabian Peninsula’s eastern end. It has its borders with Saudi Arabia and Oman. It is an elective monarchy consisting of a federation of seven Emirates including:
- Dubai
- Ajman
- Abu Dhabi
- Umm Al Quwain
- Sharjah
- Ras Al Khaimah
- Fujairah
Each of these seven Emirates is governed by a Ruler ( whose reign is based on hereditary sheikhdom), and together they form a Federal Supreme Council.
The Oil and Natural gas reserves of the United Arab Emirates have ranked 6th and 7th largest in the world. Abu Dhabi’s ruler, Zayed bin Sultan Al Nahyan, oversaw the Emirate’s development by investing their oil revenues into infrastructure, education, and healthcare.
UAE has always welcomed immigrants with open hearts. Surprisingly, immigrants and expatriates account for a massive percentage of the overall population in the United Arab Emirates.
UAE has the most diversified economy among all Gulf Cooperation Council’s members. Overall, UAE has a developed economy and is one of the wealthy states in the world. However, Dubai is the most populated city in the entire UAE. It is famous for being an international hub and global city.
Over time, the country has become more focused on business and tourism and less reliant on its oil reserves. To make UAE a go-to place for investors to set up offshore companies, the UAE government decided not to levy an income tax.
Many reasons make offshore company formation in the UAE one of the most sought-after investment opportunities for investors worldwide. It is essential to learn about the benefits of offshore company formation before setting up an offshore company in emirates.
Benefits of the offshore company formation in UAE
When it comes to knowing how to set up an offshore company in UAE, most people prefer to apprehend the advantages of offshore company formation in the Emirates. Accordingly, here we have enlisted some of the real benefits of the offshore company set up in the UAE.
- The country offers fantastic tax advantages to its investors, and it is one of the fastest-growing economies in the world.
- UAE has earned 17th rank in the Global Competitiveness Index. It is also ranked 1st in the Arab world due to the best infrastructure and business environment.
- Abu Dhabi and Dubai are the two most sought-after destinations for offshore companies and are considered a major attraction for most foreign capitals.
- Fortunately, there are no restrictions and exchange controls on capital and profit repatriation for foreign investors.
- The offshore company set up UAE can be an ideal way to book international profits legitimately if the company is structured efficiently.
These reasons, as mentioned above, have made the United Arab Emirates one of the most sought-after and preferred destinations for foreign investment, especially in the Middle East.
Corporate banking solution for offshore company formation in UAE
To start business activities, it is mandatory to have a corporate banking solution. For this, make sure to look at the services offered by the bank for offshore companies and apply accordingly to open your corporate bank account. Fortunately, the banking system in UAE is offshore-friendly, and with the help of Thallium Consulting, one can easily find a reliable banking solution from almost all the renowned banks in UAE.
It is important to note that the overall safety of banking in the UAE is quite attractive. However, the requirements to open a corporate account in UAE vary from bank to bank. Therefore, we at Thallium Consulting always perform proper due diligence before applying anywhere.
All in all, UAE’s corporate banking solutions are secure, reliable, and traceable worldwide, with no or minimal restrictions on your transactions.
The renewal process of the company in the UAE
Acquiring a license for your offshore company formation in UAE and its annual renewal isn’t a simple task. It is because the process requires tedious documentation and procedures to complete in this regard.
Even more, it isn’t only the cost of registering your company that people want to know while considering offshore company set up in UAE, but also the renewal process and fee of offshore company formation in UAE. Thus, Thallium Consulting plays a massive role in processing all the formalities on your behalf. The details of the process are listed below:
- You can complete the renewal process of the company in the UAE, both offline and online. For offline renewal, you will need to get help from an authorized service provider. Hence, Thallium Consulting assists you with the renewal of your offshore company by handling end to end processes.
- Before applying for company renewal, make sure your tenancy contract is still valid.
- Next, you must apply for the company renewal process by submitting an application along with the necessary documents.
- The authority will then allow you a payment voucher to pay your company renewal fee.
Once you have completed the payment, you can get your renewed company license.
Perks of the offshore company formation in UAE as a Tax-Haven
UAE is the meeting point of west and north, making it a more strategic location to consider for Offshore company formation.
Even more, young entrepreneurs and startups can find it super easy to establish their entity in UAE. They can also start their tax-free offshore company formation in UAE. Fortunately, the local government supports offshore companies through minimal bureaucracy, unlike other popular countries globally. All of these benefits have made offshore company formation in UAE a desirable solution for most.
UAE being a tax haven offers foreign individuals & Businesses little or no tax liability in a Politically & Economically static environment.
Besides this, UAE offers lucrative tax advantages, including income tax exemption for both your company employees working here and foreign entrepreneurs residing in the UAE. With a properly structured offshore company set up in UAE, you can also enjoy exemption from tax on capital gains. However, in some areas, you have to pay a 5% value-added tax in UAE. Overall, UAE is an excellent location for international businesses who are seeking offshore company set-up.
ADDITIONAL COMPANY FORMATION SERVICES
Thallium Consulting also offers numerous additional services to FULLY support you with your ongoing business requirements.
OBTAINING RESIDENT VISAS
BANK ACCOUNT OPENING
MARKET RESEARCH
MARKETING SETUP
FREQUENTLY ASKED QUESTIONS
The issuance of the License is from DED (DEPARTMENT OF ECONOMIC DEPARTMENT).
There is an investor visa valid for three years and an employment visa valid for two years.
Once the license is issued, we will apply for the company Establishment card and E-Visa (entry permit).
Once the establishment card is issued, we will apply for a labour file from the Ministry of Human resource (MOHRE) to add employee visas under your company.
Once you are inside UAE, you need to undergo a medical and fingerprint process to obtain a residence visa.
An establishment card or Immigration card is issued by the Immigration Authorities to recruit and start adding residence visas to the company.
A labour file is issued by the Ministry of Human Resource (MOHRE) to a company to add employee visas and keep track of the employee’s identities and places of work.
Yes, it’s mandatory to have insurance for the residence visa process.
Yes, The word Dubai is not allowed, Arabic and Islamic traditions are not allowed, words referring to god or Islam are not allowed, Trade names must be translated to Arabic and Trade names should describe the business activity.
Yes, the physical office has to be rented for the issuance of a license.
You can obtain as many visas as you require depending on the office space.
Yes (excluding Freezone designated area)
A maximum of 10 activities can be included in a single license where all activities should be of the same nature based on the activity group mentioned as per DED standards.
A local Sponsor is generally needed under a commercial licence, and he is responsible for the company, share capital and signed MOA.
A Local Agent is required for obtaining a professional licence, and he signs a local service agreement for a fixed sum and has no direct involvement or any financial liability in a company.
Commercial Licence, Industrial License and Professional License.
Yes, all shareholders/Owners should be present for the signing of the MOA together with the local sponsor/Agent.
