Company formation in UAE merely the commencement of the path to triumph. Within the array of services provided by Outcomes Agency, we ensure you are equipped with an extensive repertoire conducive to the expansion of your enterprise.
We shall adeptly navigate you through every phase, encompassing fiscal and bookkeeping provisions, aid in personnel acquisition, legal counsel, collaborative work environments, and beyond.
Types of Company Formation in UAE
Take a glance on company types:
Public Shareholding Company: A Public shareholding company embodies a business structure wherein the company’s shares are made available to the wider public. This form of company formation in UAE is tailored for expansive enterprises boasting a substantial capital foundation.
Public shareholding companies in the UAE necessitate a minimum of ten founding members, with a requisite share capital of at least AED 30 million.
Their governance is mandated by the Commercial Companies Law, mandating the presence of a board of directors and the conduction of annual general meetings.
Private Shareholding Company: A Private shareholding company represents a business configuration where a restricted number of shareholders possess the company’s shares. This organizational model is suited for medium to large-scale enterprises endowed with significant capital reserves.
Private shareholding companies in the UAE necessitate a minimum of two founding members, with a stipulated share capital of at least AED 2 million. Governed by the Commercial Companies Law, they are obliged to maintain a board of directors and conduct annual general meetings.
General Partnership: A General partnership epitomizes a business framework wherein two or more partners unite to company formation in UAE. These partners equitably share the profits and losses of the enterprise.
General partnerships in the UAE mandate a minimum of two partners, without any prescribed minimum capital prerequisite. Their governance is subject to the Civil Transactions Law.
Limited Partnership: A Limited partnership characterizes a business arrangement where two types of partners exist: general and limited.
While general partners oversee the business and shoulder its debts and obligations, limited partners solely contribute to the business’s capital, assuming limited liability.
Limited partnerships in the UAE require a minimum of two partners, with the capital requisites varying based on the business nature.
Then Joint Venture: A Joint venture embodies a company formation in UAE where multiple businesses converge to establish a new corporate entity. Partners involved share the enterprise’s profits and losses equally.
Joint ventures in the UAE necessitate a minimum of two partners, devoid of any stipulated minimum capital requirement. Governed by the Commercial Companies Law, they operate under its jurisdiction.
Limited Liability Company (LLC): A Limited liability company represents a business structure wherein shareholders bear limited liability concerning the company’s debts and obligations.
LLCs in the UAE mandate a minimum of two shareholders and a maximum of fifty. The share capital prerequisites fluctuate based on the business nature. Governed by the Commercial Companies Law, they operate under its purview.
Sole Proprietorship: A Sole proprietorship embodies a company formation in UAE where a singular individual owns and operates the enterprise.
Sole proprietorships in the UAE lack a distinct legal entity, with the owner being accountable for all business facets. Governed by the Civil Transactions Law, they operate under its directives.
Branch of a Foreign Company: A Branch of a foreign company delineates a business establishment where a foreign company formation in UAE.
This branch functions as an extension of the foreign company, subject to the same regulations. Branches in the UAE necessitate a local sponsor, devoid of any minimum capital prerequisite. Governed by the Commercial Companies Law, they operate under its framework.
The Process of Company Formation in UAE
company formation in UAE steps:
Step one: Select your business endeavor
The preliminary step before company formation in UAE entails selecting a business endeavor.
Step two: Electing the appropriate establishment
This stage encompasses two steps. The initial step entails determining the type of business license requisite for your enterprise.
Step three: Choosing a business appellation
Although seemingly mundane, this step warrants attention as it pertains to adhering to the stringent naming conventions prevalent in Dubai and the broader UAE, unfamiliar to outsiders.
Step four: Lodging your application
Once the nature of your enterprise and its trading designation is established, it is imperative to lodge your business license application.
Step five: Visa application
Following the acquisition of your business license, you may proceed to apply for requisite visas. This encompasses your visa, as well as visas for your workforce and their dependents.
Step six: Inaugurate a corporate banking account
Establishing a bank account as a foreign national in the UAE can be a challenging endeavor.
How much does it cost to set up a company in UAE?
Outcomes Agency stands out for offering competitive prices for their clients when it comes to company formation in uae
They provide tailored solutions and transparent pricing, ensuring that their clients receive excellent value for their investment.
Whether it’s establishing a new venture or expanding an existing one, Outcomes Agency strives to deliver cost-effective solutions without compromising on quality or efficiency.
UAE company registration cost
online company registration in Dubai cost can vary depending on several factors such as the type of business, location, and specific requirements.
Generally, it involves fees for online company registration in uae, licensing, visa processing, and other related expenses.
What documents are required to open a company in UAE?
When embarking on the journey of company formation in uae, it becomes imperative to ensure meticulous attention to the assembly of all requisite documentation.
Documents necessitated for this endeavor:
- Commercial License A Commercial License in Dubai represents the legal mandate that grants authorization for business operations within the emirate.
- Memorandum of Association (MOA) Serving as a cornerstone document, the Memorandum of Association (MOA) delineates the fundamental precepts governing the modus operandi of a corporate entity.
- Articles of Association (AOA) The Articles of Association (AOA) represent a legal instrument that encapsulates the internal regulations governing the corporate framework.
- Shareholders’ Pact A Shareholders’ Pact embodies a legal compact that delineates the rights and obligations incumbent upon shareholders within a corporate framework.
- Commercial Tenancy Agreement A Commercial Tenancy Agreement embodies a contractual compact that delineates the terms and conditions governing the lease of commercial real estate.
- Memorandum of Understanding (MOU) A Memorandum of Understanding (MOU) embodies a formal declaration of intent by two or more parties to engage in collaborative ventures or projects.
- Power of Attorney (POA) A Power of Attorney (POA) represents a legal instrument conferring authority upon an individual or entity to act as a representative on behalf of another individual or entity.
- Bank Statement A Bank Statement represents an official document issued by a financial institution delineating the financial transactions transpiring within a specified account over a stipulated period.
- Passport and Visa A Passport represents a governmental document attesting to the identity and nationality of its holder, whereas a Visa embodies official authorization permitting entry into a sovereign territory for a stipulated duration.
- Emirates ID An Emirates ID represents a mandatory identification document for denizens and nationals of the United Arab Emirates (UAE).
- Tax Registration Certificate A Tax Registration Certificate represents a legal attestation of a business entity’s registration with the Federal Tax Authority (FTA) within the UAE jurisdiction.
- Commercial Registration Certificate A Commercial Registration Certificate constitutes a legal affirmation issued by the DED, attesting to a business entity’s authorization to engage in commercial activities within Dubai.
FAQs
Can foreigners set up a company in Dubai?
Indeed, starting a business in Dubai as a foreigner can embark upon the journey of mainland company formation in Dubai, and numerous individuals have already done so.
How long does it take to set a company in the UAE?
As a general guideline, you can anticipate the completion of company formation within a span of two to four months.
Can I open a company in UAE without a residence visa?
The response to the question, “Can I establish a company in Dubai without a residence visa?” is affirmative: Yes, you can
What is the cheapest license in the UAE?
The FZA Free Zone offers the low cost business setup in Dubai trade license without the necessity of visas.
Do I need to live in Dubai to open a company?
Indeed, it is feasible to company formation in Dubai without holding a residence visa.
Which business is booming in the UAE?
Financial services in the UAE stand out as some of the most lucrative ventures, boasting the highest growth percentages.
Presently, the climate is exceptionally favorable for investment in this sector, presenting an opportune moment to capitalize on this upsurge.
Consequently, you have the opportunity to provide a range of services, including digital payment solutions.
