Procedures for establishing a company in the Emirates – Many individuals want to know all the procedures for establishing a company in the United Arab Emirates, as the investor can now establish his business in an easy and comfortable way without the need to waste a lot of time and effort.
But this step requires a company or office specialized in this field and capable of implementing all procedures and obtaining all required approvals correctly. This article is your complete guide to learn all the important information regarding this topic.
Establishing companies in the Emirates :
It is worth noting that a very large number of people want to start their own business and commercial projects, especially within the United Arab Emirates, and therefore they need to become familiar with the procedures for establishing a company, as the Emirates is considered one of the most important and most developed countries in the world. This is due to you because it provides a lot One of the wonderful and suitable opportunities for investment and trade.
In addition, it provides all the capabilities and means that meet all the needs and requirements of businessmen and foreign investors, and the joint-liability company is one of the most important types of people companies that are based primarily on mutual trust between all partners. This company is established by at least two people with the aim of practicing the activity Specific commercial, and the company’s liability is joint and personal.
What are the advantages of establishing a company in the Emirates?
There are many advantages and positives for all types of companies in the Emirates. In this article, we will explain to you the most important advantages of establishing a company in the Emirates. These advantages are considered among the most important components and factors that make foreign investors and entrepreneurs keen to invest their money in the Emirates rather than in other countries of the world:
- The company owner can obtain profits that can reach 100%.
- Exemptions of up to 100% on all taxes, whether import or export to and from the UAE.
- It works to provide a wide range of facilities in all procedures for obtaining an establishment license.
- All partners are able to obtain many services that meet their needs and requirements and help them reach the desired goals as quickly as possible.
- When establishing a company in the UAE, partners will be able to obtain any type of visa and residency within it.
Characteristics of establishing a joint liability company in the Emirates
As we learned through the previous paragraphs about the most important procedures for establishing a joint liability company, we must also learn about all the characteristics of these companies:
- Partners in a joint-liability company acquire the qualities of merchants once the company is established, but it must have the necessary qualifications to be able to conduct commercial work.
- It should be noted that it is not permissible in any way to trade a partner’s share, and no partner can assign his share to another person without the approval of all partners.
- In a joint liability company, only partners are primarily responsible for carrying out all the company’s work and obligations, and no one else can carry out these tasks.
- It is also important that the joint liability company has only one name that is determined by the joint partners, and this name must be accompanied by the word “and partners.”
Procedures for establishing a company in the UAE:
In order to be able to open and establish a new company in the United Arab Emirates, there are a set of procedures and steps that must be followed, so here are the procedures for establishing a company in the Emirates:
- First, you must determine the type and nature of the activity in which you want to invest your money.
- The next step is to determine the legal form of the company and then register the company’s trade name.
- You must also submit a request to the competent government bodies and agencies in order to be able to initially approve your company.
- Obtaining the Memorandum of Association Agreement from the local service agent.
- One of the procedures for establishing a company is to determine a location or address designated for the business activity.
- The next step is to obtain all additional government approvals.
- After that, the documents required to establish a company are submitted to the Investment Authority and all required fees are paid.
Many investors are looking for the best offers for the cost of company establishment services in the UAE, but some are disappointed due to the high cost.
The cost of establishing a company in the UAE:
One of the initial steps for establishing a company in the Emirates is to know all the required costs, if you plan to create and open your own project in order to achieve profits and reach your goals.
Through the following points, we will learn together about the cost of establishing a company in the Emirates:
- The cost of a commercial license in one of the free zones located within the United Arab Emirates. This license is considered the starting signal for the possibility of practicing your own business.
- Also, the cost of the company’s location or office through which all required work is carried out, whether you rent the place or buy it.
- Costs related to the company’s decorations and furniture. You can determine these costs based on the furniture and appliances you need.
- The cost of business permits and the costs of visas and residency required for all company employees.
- The company owner must also open a bank account in the name of his business, and then deposit the minimum capital, which is determined according to the type of activity.
