Basics of Company formation in Dubai
Company formation in Dubai has been a curious subject to many investors and companies interested in setting up company in Dubai. Dubai is an international trading hub being popularly known for its highest percapita income and advanced infrastructure. Hence to understand on how to set up a company in Dubai, one has to learn the basics of Company incorporation in UAE.
Types of companies in dubai (companies in UAE)
Any company in dubai would fall into one among the two distinctions described below.
Freezone Company formation
Freezone company refers to those company that is fully owned by the individual who has set that up. More precisely, there would be no need of an agent or a sponsor as a mediator in managing the venture.
Benefits of Dubai Freezone include 100% individual ownership, 0% tax, freedom to open bank account in Dubai, privace ensured, lesser renewal charges, anytime liquidating freedom, liberty to do international business, multiple activities and right to hold properties.
Offshore company formation
Offshore companies refer to those firms that have been registered by a business that operates outside UAE. The regulations for this type of registration is issued in respect to the latest international standards and the firm is expected to register a minimum of one director for a company in UAE. They are expected to keep the financial records of the company and submit an annual financial report that is audited by an auditing company that is approved by the freezone.
Benefits of Dubai Offshore companies includes the freedom from minimum capital requirement and a need of a physical office facility. Even though the company formation in Dubai is known to be clear-cut , it would require time upto three weeks roughly for the completion of the entire business registration which would also include the post-registration formalities.
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