All You Need to Know About Free Zone in Dubai

Dubai is one of the most prosperous economies in the world. Being one of the leading centers of art, culture and commerce, it has become a lucrative destination for investors. However, there is a wrong notion among many entrepreneurs that setting up a business in Dubai is very troublesome.
Most of them consider that there are limited types of company incorporation. Only a handful of them are aware of the other setup possibilities like Representation/ Branch office, Offshore Company, Free Zone Company etc., and most of them solely consider the business set up rules of LLC Company.
Free Zones in Dubai

In order to ensure entrepreneurs can earn huge profits, there are several Free Zones in Dubai. These zones are special economic zones where foreign investors can carry out their business at ease. One can own a business in some of the following forms mentioned above. Dubai has the maximum number of Free Zones among all the other emirates of UAE and thus is one of the fastest growing economies in the world.

Benefits of Free zone company setup in Dubai

Free zone company setup in Dubai is encouraged because there are several benefits which are as follows:

• A Free Zone company formation allows 100% foreign ownership. 
• An organization can enjoy 100% conversion of capitals and profits. 
• It is free from personal and corporate taxes and need not pay any custom duties and import and export taxes. 
• There are minuscule restrictions on recruiting labor.
• A free zone company can share services and collaborations with other companies in the free zone. 
• The incorporation process of a company in the free zone is faster and easier than incorporation outside it. 

How to setup a Free Zone Company in Dubai 

There are a few basic requirements for business setup in Dubai free zone like:

• One needs to acquire a trade license to conduct business in Dubai. This license should be renewed annually. Therefore, to acquire the trading license at the earliest ensure the nature of your business as not every Free Zone allows every kind of business. 
• It is important to have an office with the company’s name in the Free Zone. One can rent a place to set up his office. 
• A company should have a manager who would be the authorized acting representative of the company. 
• It must have a shareholder.

Even though there are several advantages of business setup in Dubai free zone, there are a few limitations as well, for example, a Free Zone company is not allowed to trade directly with the UAE market.

Role of Business setup Consultants in Dubai 

It is often suggested that an aspiring entrepreneur should probably seek the services of a business setup consultant in Dubai. This is because; the consultants with the team of experts will give you customized insights based on your type of business. This makes the business incorporation easier and faster. The consultants also offer other business management services like account outsourcing, payroll outsourcing etc., which can be used at later stages of your business.  

All You Need to Know About Free Zone in Dubai

Dubai is one of the most prosperous economies in the world. Being one of the leading centers of art, culture and commerce, it has become a lucrative destination for investors. However, there is a wrong notion among many entrepreneurs that setting up a business in Dubai is very troublesome.
Most of them consider that there are limited types of company incorporation. Only a handful of them are aware of the other setup possibilities like Representation/ Branch office, Offshore Company, Free Zone Company etc., and most of them solely consider the business set up rules of LLC Company.
Free Zones in Dubai

In order to ensure entrepreneurs can earn huge profits, there are several Free Zones in Dubai. These zones are special economic zones where foreign investors can carry out their business at ease. One can own a business in some of the following forms mentioned above. Dubai has the maximum number of Free Zones among all the other emirates of UAE and thus is one of the fastest growing economies in the world.

Benefits of Free zone company setup in Dubai

Free zone company setup in Dubai is encouraged because there are several benefits which are as follows:

• A Free Zone company formation allows 100% foreign ownership. 
• An organization can enjoy 100% conversion of capitals and profits. 
• It is free from personal and corporate taxes and need not pay any custom duties and import and export taxes. 
• There are minuscule restrictions on recruiting labor.
• A free zone company can share services and collaborations with other companies in the free zone. 
• The incorporation process of a company in the free zone is faster and easier than incorporation outside it. 

How to setup a Free Zone Company in Dubai 

There are a few basic requirements for business setup in Dubai free zone like:

• One needs to acquire a trade license to conduct business in Dubai. This license should be renewed annually. Therefore, to acquire the trading license at the earliest ensure the nature of your business as not every Free Zone allows every kind of business. 
• It is important to have an office with the company’s name in the Free Zone. One can rent a place to set up his office. 
• A company should have a manager who would be the authorized acting representative of the company. 
• It must have a shareholder.

Even though there are several advantages of business setup in Dubai free zone, there are a few limitations as well, for example, a Free Zone company is not allowed to trade directly with the UAE market.

Role of Business setup Consultants in Dubai 

It is often suggested that an aspiring entrepreneur should probably seek the services of a business setup consultant in Dubai. This is because; the consultants with the team of experts will give you customized insights based on your type of business. This makes the business incorporation easier and faster. The consultants also offer other business management services like account outsourcing, payroll outsourcing etc., which can be used at later stages of your business.  

Five Myths Debunked About Hiring A Business Setup Consultant In Dubai

Dubai is one of the fastest growing economies in the world and this is the reason why it is a lucrative spot for investors and entrepreneurs. For setting up the business in Dubai, experts suggest that it is best to seek the services of business setup consultants. However, there are many wrong notions surrounding business setup consultants in Dubai that persist among the group of investors and small entrepreneurs. So, here are 5 myths that are associated with business setup services.

  1. “Such services are suitable for big companies” 

One of the biggest misconception surrounding Dubai business setup consultants is that small scale entrepreneur believes that these services are appropriate for bigger firms. They believe that these services are needed to handle a company with complex processes and those with a massive organizational structure. But in fact, business setup services are needed to ease company incorporation because one might not be aware of the rules and regulations that govern the processes involved.

   2. “ Consultancy services provide you limited guidance” 

Consultancy services provide you guidance throughout the incorporation procedure. They start from building a proper plan for your start-up and instruct you to furnish all the required documents, which are essential for the registration of your business.
They then make sure that the documents reach the right department and are forwarded after successful scrutiny. One of the biggest advantages of seeking the services of business setup consultants in Dubai is that one need not run from one ministry to another to get all the permissions in place.

  3. “ Consulting is same as outsourcing”

Consulting is not the same as outsourcing. While outsourcing refers to hiring another organization on a contract to complete a process for your organization, consulting refers to the advisory services, which one might need to conduct on a task or process. Therefore, one can say that a management firm renders both outsourcing and consultation services, but both the services are very different from each other.

  4. “ Your data can be easily misplaced as they handle several clients” 

Even though the consultants handle a huge number of clients, they have defined teams that handle one client at a time. Moreover, these services are meant to speed up the company formation process, so the goal of these services is to deliver you the result at the earliest. Therefore, a mistake from their end may happen once in a blue moon.

Additionally, if you hire the same firm for outsourcing any service, even then they make sure that a high level of confidentiality and accuracy is maintained in rendering you the services. So, your data is safe with these firms in every manner.

  5. “The services of a business setup consultant is overpriced”

Business setup consultants in Dubai help you in getting a business license, incorporating your company and opening a bank account. All these processes can be smoothly done only if all the requirements are fulfilled, so the consultants ease this task. Therefore, the charges are set in accordance with the effort, expertise and time required to accomplish these tasks. 

How to Establish an Offshore Company in Dubai in a Hassle-Free Way

Dubai is one of the most attractive business destinations in the world. Known for world-class infrastructure and business-friendly policies, Dubai is home to some of the world’s biggest companies. It offers a favourable business environment to small companies as well. Over the past two decades, many steps have been taken to make Dubai a renowned business hub.

When it comes to establishing a company in Dubai, there are mainly three options available to business- Offshore Company, Onshore Company and Free Zone Company. Offshore company is considered one of the best options for businesses that want to operate outside UAE.

How is an Offshore Company different from Onshore Company ?

Some of the main factors that make an offshore company different from an onshore company are-

• Offshore companies can operate only outside UAE. Onshore companies, on the other hand, operate inside UAE. 
• A business does not need to obtain a licence to establish an offshore company. For an onshore company, license is required. 
• Offshore companies do not have to pay corporate tax of any kind. Corporate tax applies on onshore companies. 
• In case of an offshore company, there is no need for a local sponsor and anyone can be the shareholder or director of the company. In an onshore company, the majority shares must be held by a UAE national. 
• As compared to onshore company formation, the process of Dubai offshore company formation is easier and less complex. 

Who should open a Dubai Offshore Company ?

An offshore company is an excellent option for a business whose clients are located outside Dubai. Many businesses that want to benefit from no tax regime and confidentiality, and are not interested in Dubai business market, opt for offshore company formation.

How to Open a Dubai Offshore Company ? 

When it comes to establishing an offshore company in Dubai, there are many factors that have to be taken into consideration-

• The legal requirements must be adhered to while choosing the name of the company. It should end with ‘Ltd’ only. 
• Minimum one shareholder and one director are required. No public register of shareholders and directors is required to be maintained. 
• There is no minimum capital requirement to start an offshore company in Dubai. 
• The necessary documents that have to be submitted include proof of residence, passport copy, bank reference letter etc. 

An offshore company in Dubai will not just make it easier for a business to take advantage of the tax-free business environment but also help it portray a positive image to the clients and customers. Although, Dubai offshore company formation process is simple, it is important to avail the services of a reliable business formation consultancy. These consultancies are equipped with the knowledge and resources required to establish an offshore company in Dubai in a hassle-free way. Right from choosing a company name to selecting an appropriate location, a reliable business consultancy in Dubai can handle all aspects of offshore company formation. The services offered by a consultancy will go a long way when it comes to helping a business successfully establish itself in Dubai. 

How Business Setup Consultants can Help New Businesses in Dubai ?

Dubai is counted among one of the most prosperous cities in the world. Over the past few decades, it has emerged as a major financial center in the Middle East region. Known for its excellent location, vibrant economy and superior infrastructure, Dubai has established itself as one of the largest business hubs in the world.

There are many factors, which make Dubai an attractive destination for businesses. Some of them are listed below:

• It is strategically located between Asia and Europe. This makes it easier for businesses to transport goods to eastern and western markets. 
• It has an economy that is growing rapidly.  Apart from oil and tourism, logistics and transportation are some of the other major industries in Dubai. 
• Dubai boasts a world-class infrastructure. Modern ports, transport system and well-developed roads and highways, make it easier for businesses to operate. 
• It has over 20 free zones that offer numerous benefits to the businesses. In a free zone, a company can set up its businesses without a local sponsor. The companies also enjoy numerous tax benefits in a free zone.  

Although, Dubai is a business-friendly destination, proper knowledge of a number of factors while establishing a business is necessary. From choosing the right location to dealing with legal matters, a host of other things requires careful assessment. However, many new businesses lack the knowledge and understanding required to deal with matters related to setting up a business in Dubai. This is where the services offered by Dubai business setup consultants can prove to be very useful.

Business setup consultants in Dubai offer a wide range of services related to business registration, company formation, free zone company setup, offshore company setup etc. These services are designed to make it easier for companies to establish themselves in Dubai.

How Dubai Business Setup Consultants can help? 

• Business consultants have an in-depth knowledge required to set up a business successfully. They help businesses make the right decisions while setting up their offices in Dubai. 
• They possess an extensive knowledge of the local industry and are well aware of how laws and regulations work in Dubai. They also provide useful insights into the local market, thus making it easier for businesses to make the right decisions. 
• Dubai business setup consultants offer customized solutions that suit the specific needs and requirements of your business. The tailored solutions provided by these consultancies can speed up the whole process of setting up a business in Dubai.

Many reliable business setup consultants in Dubai offer excellent services to businesses. However, it is important to choose the right consultancy that is equipped with the best knowledge and resources. The consultancy should have the practical experience required to meet your business goals and objectives. It should also be well aware of the latest industry trends and should have good research capabilities. Lastly, it should offer its services with complete transparency.

Choosing a reliable business consultancy will make the process of setting up a business much easier and provide a hassle-free experience. 

How to find Company Formation Services in Dubai on Web?

An ideal way to start or expand a business in a foreign land is to get professional company formation service. The best part about the internet is that when you do not have the time to do a particular task, or if you do not have the knowledge or the experience to do that, you can always look for professional services, without going an extra mile to hunt the industry experts. With the help of internet, you can easily look for company formation services in Dubai. This article helps you figure out what you need to look for to find the right company which can ideally take off the stress of company formation from your shoulders and can allow you to focus on the core aspects of your business.

Know your Requirement:

Before you start your hunt for company formation services in Dubai, you first have to identify your requirements and expectations from the company formation service providers. There are companies that offer services from simple company registration to complete limited liability company formation. Depending upon your requirements, you have to shortlist few reliable & experienced ones and move forward your research accordingly.

Find Good Value for Money:

When you look for company formation services, getting quality service is a must. You have to find a company formation service provider in Dubai that offers complete value for your money. Generally, company formations have a straight forward process, but one can never be too sure about the legal formalities involved, and that is why it is ideal trust only upon industry experts. You can read company reviews on the internet and accordingly identify which one would match your needs & can ensure the quality levels of services that you seek.

Do Not Forget to Look at the Cost Factor:

There are a number of companies offering company formation services in Dubai which makes the decision making process a difficult one. There’s a duality to the situation; it will not be difficult for you to find reasonable services to get through the legal company formation process however, in order to find the most cost-effective services, do not make the mistake of engaging with uninformed or less experienced service providers.

Do Give Importance to After Services:

Since company formation is a legal task, there can be so many things that might come up in future, which you do not know how to handle. While considering company formation services, ask if the professionals you are communicating with can provide after services as well or not. This would be of great help for you.

Most of the times, the company formation service provider you will choose would take care of everything and you can rely on them for handling legal tasks. However, whenever a task is completed, do not forget to cross check things over once they're done. To do this, you must conduct some prior research to identify what exactly should be included in services that you intend to seek.

Avail Dubai Company Incorporation services to Setup Offshore Company in UAE

Looking for UAE offshore company incorporation? Before doing so, it is better to know about the offshore companies and its different types. This will provide you all the required information and will help you to avail even better services.

UAE Offshore Companies

Offshore is basically a process that is used to establish a firm in the foreign location to avail benefits of the economic opportunities in that country. Formation of an offshore company in foreign countries is done to get benefit from the complimentary tax structures offered by that country. Because of this, these countries are also known as offshore jurisdictions. They create easy tax environment to attract more and more international investors to increase their level of profit.

So, to meet your business requirements, it is very much essential to have everything in place. There are some jurisdictions that are best only in handling assets or conducting professional or personal services, while others are best for mobility, investment holding, financing and actual trading, on the other hand, some of them are best known for their standard and are appropriate for ship management and ownership.

As the companies are established in this offshore jurisdiction, they are known as offshore companies. Business owners love to invest in this jurisdiction because it offers tax benefits either very low or no tax charges. The offshore companies also include extensive asset protection features; for example- limiting creditors to charging orders or offering bearer shares and nominee directors to preserve the secrecy of principals.

What are the different types of Offshore Companies?

To serve the changeable needs of investors and the businessmen, there are different forms of offshore companies. These companies are also known as International Business Companies (IBCs) or Limited Liability Companies (LLCs). These enjoy tax free benefits and conceal the valuable owners of the offshore accounts. Some of the other familiar companies include offshore LLCs and offshore protected cell companies. To have a hold on the other offshore companies and to protect the assets, offshore trusts are being used.

Services Offered by Consultants for UAE Offshore Company Incorporation?

• These consultants are business experts and professionals who have with time updated their knowledge about the actual business world. They strive to help you with Dubai offshore company incorporation in the required jurisdiction such as UAE. They update you about the rules and regulations of the land since these can vary for each country.
• They also help you to choose the right jurisdiction that suits your requirement depending on your interest of investment.
• They help in the appointment of managers, nominee directors, and trustees to protect and take care of the industry and taking it to great heights. So, to ensure that there are no errors and all the formalities are completed efficiently, offshore company formation service providers provide full support and guidance to you, making the process simpler and easier, without allowing any difficulty to come in your way.
• With their services, they help you with a quick registration process, as well as the appointment of secretary and directors, office registration process, and other business setup or company incorporation processes.

Business Consultancy firms In Dubai – Helping You Establish Your Business

When there are changes in business, the adoption of new accounting standards, acquisition, restatement or regulatory review, an organization faces issues of time-sensitive accounting, and an array of complexes. Both of them can have a significant impact on the associated operations, accounting and finances.All this can be effectively managed by business consultancy firms, saving your money, energy and time.

These firms assist you to think about the future growth of your business rather than thinking about its past.In what ways consultancy firms in Dubai can help you with your accounts?

1. Maintaining Financial Record - Keeping the financial record is one of the prime functions of the accounting services. Earlier, it used to be on paper, but now everything is maintained by using an electronic database. Even cloud-based application can be used, depending on the modernization and ingenuity of the firm, but the financial record is being kept same all over.
2. Internal and External Audits- This is another function that accounting consultancy services can take on. The service type may vary depending on whether they are free to appoint or are on an agreement, etc. The auditing process though is essentially the same.
3. Tax Advisement and Compliance- It is another area where one can turn towards accounting consultancy services. This area needs a level of expertise as the major component of the accountant’s role is taxes. The taxes should be updated and well-schooled on all the tax laws.
4. Risk Management- The accounting consultancy services help in risk management related to internal financial and internal audits risk processes. In this area, an accounting firm can be helpful in saving a ton of money for your company. A review by an accounting expert on the non-financial process can give enormous savings and a new perspective for your business.
5. Advisor- For engaging an accounting service, strategic goal advising is another function of accounting consultancy services that can benefit you. As they are financially oriented, the benefits and savings are well known within their industries of proficiency. In the long run, lots of money can be saved by having accounting consultancy services for amalgamating, advising business expansions, growth projections, etc.

Important Points to Consider While Incorporating Offshore Company in UAE

Very few people are aware of the existence of offshore companies or what these terms even mean. The term “Offshore” relates to managing, registering, conducting or operating in a foreign country, typically with legal, financial and tax benefits.

Offshore company is incorporated outside the country of its main business activities or shareholders, directors and beneficial owners. A typical offshore company is also known as an international business company (IBC). This type of body does not pay taxes in its home jurisdiction. However, it must also carry out all its business activities outside of the country of registration.

UAE Offshore company incorporation can be carried out in a number of jurisdictions. The main decision criteria are the reputation of the jurisdiction, the price and time to incorporate.

Below are mentioned some important considerations for UAE offshore company incorporation:

• Ease of Reporting: The compliance and reporting in offshore companies are limited as compared to onshore jurisdictions. Most of the offshore companies would not require annual reports and accounts filings in the jurisdiction of the company formation. Instead, an annual flat government fee is being charged.
• Taxation: Most of the offshore companies do not pay taxes on the income derived from offshore operations.
• Cost of Operation and Fees: As there are limited reporting requirements, offshore companies generally pay lower maintenance fees as the cost of auditing and accounts preparation is often irrelevant. Fees of registered offices are also considerably lower than renting or buying premises in onshore jurisdictions.
• Asset protection: It is mandatory in the international business environment that the laws of the jurisdiction of company incorporation are applied, rather than those where the company has its operations setup. Many offshore authorities are known for their favorable asset protection laws.
• Anonymity: Most offshore registrars do not reveal information about the shareholders, directors, and beneficiaries of an offshore company. Thus, the underlying principal may secretly carry out the transactions in the name of an offshore corporation, which is a separate legal entity.

These considerations may lead you to effective company incorporation in UAE. The other ways to successfully incorporate your offshore company include availing UAE company formation services. These services will lead to easy and best offshore company incorporation in the UAE.

Five Benefits of Availing Offshore Company Formation Services in UAE

If you are looking for UAE offshore company formation you must be aware about the business terms and rules and regulation of the offshore company formation. If you have no idea about the offshore company formation and still want to get it done, the best option is to go for company formation services.

Hiring these services can be beneficial and profitable for you and your business. Once you hire business consultants your role is finished and their role begins. These business consultants are professionals and have experience and skills which help in effective offshore company formation in UAE.

What are the benefits of UAE offshore company formation?

I. Free from tax duties: As such experts are aware about all the tax reduction and tax-free policies they are able to provide you with tax reduction and tax-free benefits. They also facilitate you with up-to-date information about tax rebates and policies and about the regular changes taking place in the policies. They offer details about the offshore or onshore company and which one is profitable for you.

II. Higher profitability: Management consultancy firms provide higher profitability as they help in managing a variety of commodities, bonds, shares, and other financial instruments. The investments made through management consultancy are safe as they have the knowledge and skill and they know how and where to invest so that you are able to earn more profit in business.

III. Limited liabilities: This is the primary benefit of forming up a company in Dubai. Management consultancy helps you in this process as limited liabilities on the directors and shareholders take away the chances of failure. They help in the reduction of risk in the event of business failure. They follow legal procedure during the company formation and ensure that you do not have to face any problem in future, which also makes them trustworthy and reliable.

IV. Confidence: Consulting and hiring these company formation services gives you the confidence and does not let you feel alone in this business world. You feel confident enough as you have someone who is experienced and professional in this domain with you.

V. Cost factors: As the cost varies with the type of company formation in Dubai, this information is also provided by the management consultants. Apart from it these firms offer proper guidance throughout as well as after the process.

Hiring offshore company formation services provides you the support of highly experienced and skilled business management professionals. With their experience and skills, they act as a ladder to success for your business. They help you throughout the process and provide you full guidance and assistance in doing effective business. Hiring of offshore company formation services proves to be beneficial and highly advantageous for the individuals who have least knowledge about the company formation.

Three Easy Steps for Business registration in Dubai

If you’re planning to start a business, there are many important factors that you need to consider. One of the first steps you need to take is to get your business registered. Most people want to set up their own business as it offers them the freedom to do what they like. However, they have little idea of the difficulties they are likely to face while setting up a business. 

 

There are a number of formalities involved in the process of setting up a business that you need to take care of. After completing the paperwork, you need to advertise your start­up in local or national publications, depending on the type of trade you are about to start. Following these steps will make it easier for you to set up your business in Dubai.

• Step 1: Choose a business entity for the company. It is better if you consult a lawyer before starting up with this procedure because he will guide you throughout the process and help you in deciding a best business entity for your company.
  
  
• Step 2: The next step includes picking up a name for your company. For any enterprise the name is the most important part, thus selecting a better and wise name is necessary. The name chosen by you must be unique and should not be registered by any other company as it may prohibit you once you use it. It can also be proved as a violation of exclusive rights if you select an existing name for your company.
  
  
• Step 3: Once you are done with the naming procedure for your organization, you can get the name registered. Complete all the documentation process to complete the procedure and pay the required charges to get your business authorized. Once you name is authorized you company is registered and you can run your business efficiently.

In today’s world people prefer to register their company or business online via internet as it is time saving and effective method of doing things. But before starting any business, it is very important to known all the pros and cons of that particular form of business. If you are not aware of them, then it is better for you to consult a business registration in Dubai firm. They will make you work easy and error free leading to quicker business registration process within hours.

 

Aon Dubai is one of the leading business consultancy firms in Dubai. Equipped with the best knowledge and resources, Aon Dubai offers complete guidance to new business and makes it easier for them to establish themselves.

Want To Set Up A Business In Dubai? Seek Help of Business Consultancy Firms

Dubai in the United Arab Emirates is one of the most populous cities for establishing foreign businesses. It is amongst the most lucrative international lands for expanding business horizons and earning global profits. Setting up business in Dubai means a plethora of advantages to foreign entrepreneurs and investors who are looking to establish a company in this city. Some of the advantages include:

• 100% tax free land and repatriation of capital and profits business consultancy in Dubai.
• 100% ownership. No local UAE partner is needed for company formation
• Liberal bank accounts opening and maintaining
• Easy availability of warehouse & virtual office facilities
• A UAE residence visa
• Local Free Zone facilities
• Excellent infrastructure and rich availability of energy resources
• Quick and simple incorporation procedure

Due to these factors, many people travel to Dubai to establish a business here. However, not all are able to set up a business on their own without seeking the help of business consultancy in Dubai. The business consultancies in Dubai offer end-to-end UAE Free Zone company formation services. These have a team of professional experts with years of experience in the field of company formation and other services such as handling HR services, payroll, accounting services, etc.

Various functions that a business consultancy in Dubai offers to its clients include:-

1. Offering assistance in preparing business strategies and various business models that help the business to expand.

2. Conducting a detailed research of the industry you are wishing to enter and do business in.

3. Providing strategic inputs in a city like Dubai where Free Zone Trade is available.

4. Preparing and managing company formation documents and other legal documentation that gives you the authority to run a business hassle=free.

5. Getting Company approved and embedded in a legal documentation.

6. Acting as your local partner for all business registration processes and continuity,

7. Providing bookkeeping, auditing, payroll, recruitment, HR services and other services as well.

Hiringa business consultancy in Dubai is the best way to establish a business in this city. The professionals at these consultancy firms ensure to provide full-fledged services starting from formation of your company to handling different aspects of a business. Everything is handled by a team of professionals who are qualified for the right job and offer the right service to put your business in the right direction.