Many of you might be thinking of setting up a business in Dubai. This Arabian city pulls many of the merchants, traders and even daily wagers to work here and money because of tax relaxation, emerging IT industry and many other reasons. Whatever reason may have compelled you for company formation in Dubai, you must always consult a business advisory for starting your enterprise here and also consider the following elements before taking the plunge.
- You will need at least one local business partner in Dubai
You will need to incorporate a Limited Liability Company (LLC), with at least one local shareholder in your company. This Dubai local holds a majority of 51% shares while you will every day running of the company and the profits can be shared amongst both of you as has been agreed upon mutually.
- You can get a complete ownership if you own the existing overseas company
If you already own a foreign entity, and want to set up a branch in Dubai, then you can retain a 100% ownership. The overseas company that you own, must have been in the business for over a period of two years. Moreover the branch that you want to set up in Dubai should also conduct the similar business as the main branch does.
- You can register a company only in the free zones in Dubai
You can register a company in the Free zone of Dubai as a Free Zone Establishment with one natural or corporate owner, a Free Zone Company with two or more than two owners, or a branch of an overseas organization. The land or premises within the free zone is the most expensive aspect of the registration process in each of the three options. However each of these options allows for a 100% ownership for the foreigners as well as a complete repatriation of the company profits.
For a complete and appropriate guidance for company formation in Dubai, you must contact Adam Global today. This business advisory facility is equipped with a team of experienced and skilled professionals who can give you a correct advice related to every kind of business ownership in Dubai.