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Registration of Companies
We can help you register a company in the UAE by selecting the optimal type of company for your business! Our team provides complete support for the registration process, including collecting the necessary documents for registration, opening a bank account for the company, interacting with regulatory authorities, and more. With Parus Management Consultancies, you can be confident in the effectiveness of your business in the UAE!
REGISTRATION OF COMPANIES ON THE TURNKEY-BASIS IN THE UAE
- Assistance in choosing licenses
- Assistance in selecting the type of company (we will suggest the optimal emirate or free zone for your case).
- Assistance in collecting the necessary documents, including legalization, translations, certifications
- Submission of documents and interaction with state authorities
- Development “from scratch” of individual drafts of corporate documents of the company
- Full support for visa processing, medical clearance, fingerprinting, insurance and obtaining Emirates ID
- Assistance in finding an office and drawing the formation of the lease agreement. Office arrangement. Connection of a new telephone, internet, etc.
- Assistance in hosting arrangements – rent or purchase, investment.
- Services of completing ejari/li>
- Assistance in creating a corporate website
- Assistance in preparing documents for opening bank accounts in the UAE and abroad
- Accompanying clients in the process of searching for a suitable bank and opening corporate and personal accounts
- Mainland (local companies)
- Free zone
- Offshore
- Civil and other types of companies
- SPV, Foundations.
- We monitor the terms of licenses renewal and other permits
- Obtaining additional licenses or changing the type of company
- We communicate with representatives of banks and inform about the requests of the tax authorities
- We help with the paperwork of the company, submitting them at the bank or any other authorities
- Consulting on company issues
- Consulting on tax issues, accounting and financial reports.
- We monitor the deadlines for submitting company reports (if required).
- Support in obtaining and canceling various types of visas for residents of the UAE
- Obtaining certificates of tax residence for companies and individuals
- Obtaining TRN and TIN numbers
- Preparation and submission of various types of reports in the UAE.
- Issues of recruitment/dismissal/registration of personnel in the UAE.
TYPES OF COMPANIES IN THE UAE
There are more than 40 free economic zones In the UAE. Companies in these zones are exempt from paying taxes.
Such companies must obtain a license and annually renew it.
If such a company imports products into the territory of the FEZ, it does not pay any duties. When importing into the territory of the UAE it will have to pay a custom duty (state duty on the importation of goods) in the amount of 5%, as well as VAT.
Companies in free zones can operate throughout the world, as well as within the territory of the zone itself. In some free zones, “virtual” offices (flexi desk, smart office) are allowed, which are provided by the free zone itself
The company is eligible for visas. The number of visas depends on the rented office. In some free zones, company shareholders are eligible for an investor visa. It is possible to register companies without visas
Some free zones require an annual audit report
An enterprise in the free zone can belong to a citizen of any country.
Since there are many free zones, and each of them has its own “specialization”, they offer different benefits and opportunities for working within the free zone. There is an unspoken gradation of “prestige” and “respectability” of the free zone from the point of view of banks. Our managers will help you choose the most optimal company from all free zones in the UAE. Contact us for help.
In the United Arab Emirates, there are still offshore companies.
Foreign ownership of such companies is allowed. Offshore companies do not have the right to operate in the UAE, as well as work with other companies registered in the UAE, but have the right to open a bank account in the UAE.
The company cannot rent an office in the UAE. An offshore company’s address is the address of its registered agent.
The company is not eligible for visas
There are 3 offshore zones in the UAE – RAK ICC, Ajman Offshore and JAFZA Offshore
- Company Limited by Shares (CLS)
- Company Limited by Guarantee (CLG)
- Unlimited Company (UC)
- RAK International Corporate Centre (RAK ICC) Foundations
- Single Family Office (SFO)
- Restricted Purposes Company (RPS)
And also do the transfer and redomicile of companies from other countries
Companies are registered and serviced exclusively through a licensed agent. The activities of offshore companies are not licensed, but the charter of the company must include a list of activities that the company will be engaged in.
Along with many advantages, there may be some difficulties and questions when dealing with offshore companies in the UAE and abroad.
Our specialists will help you deal with all questions regarding the registration and maintenance of offshore companies. Contact us.
A company established in the UAE outside a free economic zone or offshore zone will be considered a local company. Such legal entities can operate both abroad and in the country of registration without any restrictions.
Ownership of such a company by foreign nationals is allowed. There are some activities to which this permit does not apply. Then you will have to involve a local citizen in cooperation, who will have to become one of the shareholders of the company.
Such companies must obtain a license and annually renew it.
Local companies can operate throughout the country. The local company has no restrictions on work. But it must work within the framework of the obtained license. Also, it can participate in government tenders.
An office is required. You can rent both a separate office and an office in a business center (from 10 sq. m.).
Local companies are the most respectable in terms of UAE banks. Having such a company, you will always look good in the eyes of partners and banks, they are much more willing to open accounts for such companies.
From June 1, 2023, local companies will pay a 9% income tax. The tax is charged on company profits over 375,000 AED (about 100,000 USD)
RESTRICTIONS ON CERTAIN KINDS OF ACTIVITIES FOR COMPANIES
It may be necessary to obtain additional permits to conduct certain types of activities (obtaining a license for such activities). For example, for activities related to education, a permit from KHDA is needed; for trading in precious metals – a letter from SIRA, etc.
The specialists of our company will be happy to help you select, register and maintain a company in the UAE.
