REGISTERING A COMPANY IN THE UAE
An international company in the UAE
3 – 4 days
Opening a bank account
- the ability to have 100% foreign capital and no requirement to have a local partner;
- no income tax for businesses or business owners;
- no restrictions on the export of capital;
- three-day registration period and minimal documents required;
local post address, local telephone number, and the possibility to receive a visa;
- opening accounts in TOP 20 banks (Emirates Bank, Standard Chartered, and others);
- low tariffs on banking services (bank transfer 12-15 USD);
- no requirement to physically visit the UAE;
- audit report is not required.
- a color copy of a valid passport;
- a personal bank account statement;
- proof of address (e.g. telephone bill);
- brief CV in any form (for informational purposes).
One of the three following types of companies can be opened in the UAE (Dubai):
- LLC — Company with a Sponsor (Restrictions on foreign capital – 49%). However, it is possible to establish a professional company with 100% foreign capital;
- Company in the Free ZONE (FZC or FZE);
- International Company in the Free ZONE (LIMITED).
LLC — A company with a Sponsor is used in cases when the company must offer or sell services to residents of the UAE (shops, restaurants, etc.).
An International Company does not assume the presence of the firm or positions of individuals in the Emirates (Dubai). At the same time, an International Company can open a current account at a local bank (Emirates Bank, Barclays Bank, Standard Chartered Bank) and can register an address in the United Arab Emirates.
A Company in the Free ZONE has the option of having a physical office or a virtual office. The company is allowed two to five resident visas for owners and employees of the company.
All companies in the UAE are established for a period of 1 year. After this year, the company can continue its operations by paying administrative and licensing fees.