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Understand the Jurisdictions Setup Requirement Before Proceed Your Register Company in the United Arab Emirates
The United Arab Emirates is one of the more prosperous countries in the Middle East. Not surprisingly, many foreign investors are eager to start investing in the United Arab Emirates. If you want to invest in the country, you probably need to learn first why you should register company in the United Arab Emirates.
Why Choose to Register Company in the United Arab Emirates?
Investing in this country allows you access to nearby markets such as African nations and other Middle Eastern countries. This means you won’t find it hard to do business and reap profits for your company.
The United Arab Emirates government has made it easier for foreign investors to bring in investments through the company registration process. A foreign investor can look forward to certain financial benefits if they invest significantly in the country. Among these financial perks are tax advantages that make it lucrative for foreign investors to stay and do business there.
Financial Benefits
The United Arab Emirates is known for granting numerous financial benefits to foreign investors that set up a company within its territory. One major benefit is that foreign investors can retain complete ownership over any company they set up within the country.
Another benefit is that foreign investors are free from corporate tax for up to 50 years. They are also allowed to conduct import and export of goods without paying certain taxes on duties.
Foreign investors like yourself will be glad to learn that there are zero exchange controls. You can also repatriate capital and profits outside the United Arab Emirates if you want to. Should you need to occupy offices, factories, or warehouses, you can request for such as well.
These make it attractive to foreigners to register company in the United Arab Emirates.
How to Hire Employees
The United Arab Emirates government supports foreign investors who will need help finding skilled manpower or need sponsorship. This means you can also bring in foreign labour if they have the skills you need for your business. This also applies if you are looking for appropriate residences for yourself and your staff.
A foreign investor has an unlimited privilege to apply for employment visas for the new company’s staff. You can bring over as many foreign employees as you need because of this kind of liberal government policy.
Register Company in the United Arab Emirates In Specific Industries
The government is prioritizing certain key industries that will register company in the United Arab Emirates. Some sectors that gain special attention are:
- Transportation
- Oil & gas services
- Food businesses
- Metal industries
- Chemical industries
- Building materials
- Petrochemicals
Companies engaged in these belong in certain key industrial zones that the government will assign to foreign investors.
How to Register Company in the United Arab Emirates
The government has made the process to register company in the United Arab Emirates much easier for foreign investors. Here are the steps you need to undergo:
- Scout around for a trustworthy local sponsor.
- Hire a professional translator to translate your corporate documents into Arabic.
- Submit these documents to the Ministry of Foreign Affairs.
- Secure preliminary approval from either the Department of Economic Development or from the emirate’s Free
- Zone Authority. (Note: The United Arab Emirates is made up of different emirates or countries, so you need to specify which emirate you will be based in for business).
- Receive your business permit.
- Open your local bank account for the business.
- Specify whether you are applying for a professional license, industrial license, or trade license.
You may then open your company, provided you have satisfied the requirements for each step.
Should you find some steps difficult, you can tap 3E Accounting for assistance. Simply contact us to start providing the business services (such as company set up) that you will require in the United Arab Emirates.
