Company Incorporation

Setting up of business in UAE

UAE is an attractive destination for investments due to its strategic location and investor friendly environment.

Setting up a new business can be a confusing and frustrating process. So, let us help you with every single step:

A business can be very tricky, and often involves a great deal of personal risk. Many people expect that, when commencing in business, the only significant worry is whether it will be profitable or not. Whilst being profitable is obviously important, there are a large number of other considerations that need to be addressed. It is important that you research your potential business thoroughly, covering all aspects of the trade you are looking to join. These include:

• Are there any similar businesses nearby?
• Legal requirements
• Trademarks and Business Names
• Employment and Business Law requirements
• Initial and Long Term Financing
• Inland Revenue, Customs and Excise and other government requirements

UAE Companies Benefits

UAE (United Arab Emirates) is a Federation of 7 States, known as Emirates; Abu Dhabi, Dubai, Sharjah, Ajman, Umm Al Quwain, Ras Al Khaimah and Fujairah. The capital of UAE is Abu Dhabi. UAE established on 2nd December, 1971, at the Southeastern end of UAE, Arabian Gulf. , bordered by Saudi Arabia to the west and Oman to the north and south-east.

Although English is widely spoken, Arabic is the official language, , followed by Hindi and Urdu. The UAE possesses the fifth largest oil reserves in the world.

Buying and selling business

Buying and selling businesses is an area that requires specialist input from experts who deal with this type of work on a regular basis. The purchase of a business requires an understanding of the valuation of that business. We can assist with the undertaking of due diligence work to ensure that valuations offered are realistic and sensible. Likewise, if you wish to sell your business or part of the business, we can find out the value of your business.

Advantages UAE

• Has the highest per capita income in the world
• No foreign exchange control, quotas or trade barriers
• Import duty is only 5% with exemptions
• 100% repartition of profits and capital
• Globalized business community and regional Hub for major MNCs
• No Income tax, Corporate tax and Withholding tax
• Modern Infrastructure facilities
• Mixed population and work force from all over the world (150+ countries)
• Stable currency (USD is pegged with local currency -1USD=3.66 Dirhams)
• Presence of biggest airports and seaports in the world
• Cosmopolitan culture
• Transparency
• Presence E-Governance system
• State-of-the-art telecommunications
• Sophisticated financial and services sector
• Top international exhibition and conference venue

Types of trade license

All business activities in UAE can be categorized into is one of the following types of licenses

• Commercial licenses including all kinds of trading activities
• Professional licenses professions, services
• Industrial licenses for establishing industrial or manufacturing activities

The Authorities also issue some special licenses, subject to certain criteria, such as Business Operation Permit, Entrepreneurial Business License etc.

Useful tips for business owners

• Free zone license would be issued with hired free zone office space mainland businesses can be undertaken from any economic business center.
• Free zone business license and visa costs are comparatively lower, but law insists you to work within free zones and international regions only; with mainland (DED) license, you can operate business locally as well as internationally.
• The long-term free zone benefits and services are more favorable for large international Companies than a small business unit owner.
• In general, there are no income taxes and if you are planning to start professional practice, you can own the company 100%.

What are the requirements for obtaining a trade license?

While planning your business in UAE, it is worth to pursue the following legal requirements applicable to all concerned government authorities in order to guarantee maximum commercial benefit for the business owner

• Designate the business category commercial, industrial and/or professional
• Determine all the related business activities within each business license (Maximum 10 per license)
• Plan your business legal status in UAE
• appropriate trading name
• Submit application to the Department for initial approval
• Register a trade name after receiving initial approval (option available to reserve trade name)
• Lease business premises and obtain approval from the Authority.
• Prepare all relevant documents such as memorandum of association and approvals from other relevant government authorities
• Submit further application to the department to obtain the final license
• Pay the required fees.

Renewal of trade license

One can conduct business in UAE with a valid trade license. VAAMCO offers complete assistance in renewing the trade license.

At VAAMCO, Clients get the combination of our deep in-depth local knowledge and extensive experience, which enable us the ability to precisely understand the unique needs of your business. We are thus able to recommend the best possible options and ensure that your business set up is with minimal hassles and effort

Whilst this list is not exhaustive, it makes the point that setting up in business requires expert advice. This is where VAAMCO can help you. With our nationwide coverage, and local support and knowledge, you can be sure that any business you wish to set up will be in expert hands with VAAMCO.