DUBAI

Dubai is one of the seven emirates that make up the United Arab Emirates (UAE) on the Arabian Peninsula. The Emirate is ruled by HH Sheikh Maktoum Bin Rashid Al Maktoum who is also the Prime Minister of the federation of UAE. Abu Dhabi and Dubai are the only two power houses of all of the emirates, they have high participation when it comes to critical matters that concern the nation. The official language is Arabic, Arabic and English are commonly used in business and commerce. Hindi and Urdu are also widely used.

 

The major portion of the population in Dubai comprises expatriates mainly of Asian origin. The Asian group consists of people from India, Pakistan, and Bangladesh. The dirham denoted by the ISO 4217 code AED is the official currency of Dubai. It is normally abbreviated as DH or Dhs.

 

It is a global city with tourism, real estate, and financial services being the major sectors of the economy. It has huge reserves of oil and petroleum, and is also a transport hub for cargo and passengers.

 

Dubai's oil revenue helped accelerate the early development of the city, but its reserves are limited and production levels are low: today, less than 5% of the emirate's revenue comes from oil. The emirate's business model is influenced by the west and drives its economy with the main revenues coming from tourism, aviation, real estate, and financial services.  Dubai is famous for its sky scrapers, magnificent architectural buildings, luxurious hotels, and shopping malls invite a million of tourists to the city. Palm Islands, Jumeirah Beach, the Dragon Mart, Dubai Museum, Burj al Arab, and Burj Khalifa are some of the major attractions.

 

Dubai Mainland Incorporation

Known for its world class infrastructure and ever growing dynamic economy, Dubai has become one of the most favorite industrial business destinations in the Middle East and across the world. It is ideally located to serve as a seamless import, export and production platform globally.

 

Benefits of Dubai Mainland:

  • Zero corporate tax
  • No annual audit
  • Opportunity to conduct business anywhere in the UAE
  • No hassles in obtaining employment visas
  • Easy Visa registration as well as processing of other documents.
  • Rent office space anywhere.

 

Setting up a company in Dubai Mainland:

  • Step 1:  Identify the business activity and Trade name approval
  • Step 2:  Choose a service agent or a Local partner
  • Step 3: Application to get initial approval
  • Step 4: Notarization and prepare MOA
  • Step 5: Finding the right office space and establishing Tenancy contract
  • Step 6: Final submission of documents

 

DED licenses offered:

  • Service License
  • Commercial License
  • Industrial License

Dubai Offshore Incorporation - JAFZA

To establish the Jebel Ali offshore companies, regulations were introduced in the year 2003, by the Jabel Ali Free Zone Authority (JAFZA). These regulations helped structure the offshore locations to deliver convenience and efficiency to established entities. Offshore entities can be established by the international business community and compete at par with other offshore destinations.

 

Features and Regulations

 

A critical element of our future decisions is to deliver efficiency and convenience while maintaining face value with financial authorities.

 

  • 100% foreign ownership permitted.
  • We are an approved registered agent with JAFZA.
  • All shares must be fully paid when allocated and no bearer shares or differential classes of shares are allowed.
  • No requirement to deposit the capital in bank.
  • An efficient regulatory regime.
  • No minimum capital requirement.
  • Opening corporate bank account in a bank at Dubai.
  • The minimum number of Directors shall be two. Every offshore company should have a Secretary (a UAE resident) who may also be a Director of the company.
  • The Offshore domicile is located in the Jebel Ali Free Zone (JAFZ).
  • Total tax and duty exemption.

 

Limitations of Dubai Offshore

  • Accounts have to be audited and submitted to the Authority.
  • Activities like banking, insurance, consultancy, advertising etc. Cannot be carried out by the company
  • Local premises cannot be rented out by the company
  • The shareholders should visit JAFZ physically.

 

JAFZA company main characteristics:

 

  • Time required: 6-7 working days (approx.) on completion of documentation
  • Shareholders' visit to the Authority: Required
  • Minimum no. of shareholders: 1
  • Minimum no. of directors: 2
  • UAE resident secretary*: Required
  • Minimum capital requirements: The capital of the Company can be any amount and in any denomination
  • Deposit capital in the Bank: Not required
  • Name suffix: Ltd. (eg: ABC Holding Ltd.)
  • Repatriation of profit: Possible
  • Documents required (Individual shareholding)
    • Passport copies
    • Original proof of residence
    • Original bank reference letter
    • Resume (profile) of the shareholders

Free Zones in Dubai

Jebel Ali Free Zone

Dubai Airport Free Zone

Dubai Internet City

Dubai Silicon Oasis

Dubai Healthcare City

Dubai Biotechnology and Research Park

Dubai International Financial Centre

Dubai Multi Commodities Centre

Dubai Academic City

Dubai Cars & Automotive Zone (DUCAMZ)

Dubai Gold & Commodities Exchange

Dubai Logistic City

Dubai Maritime City

Dubai Media City

Dubai Outsource Zone

Dubai South (DWC)

Dubai Sports City

Dubai Studio City

Enpark (Energy & Environmental Park)

International Humanitarian City

International Media Production Zone

Knowledge Village