Why & How to Incorporate a Company in the United Arab Emirates
Why Should You Incorporate a Company in the United Arab Emirates?
UAE is a booming hub having world class free trade zones and world-class infrastructure. This country offers political stability and is a significant financial center. The mineral and oil reserves have attracted many investors, and thus they are willing to incorporate a company in the United Arab Emirates.
Procedural Steps to Incorporate a Company in the United Arab Emirates
- Every Emirate has their own business set up the process, but the standard steps to incorporate a company in the United Arab Emirates are:
.The investors must do in-depth research for their niche and understand the different business entities which operate in UAE, business license required and cash flow system in UAE. - Choose and register a unique company name and obtain approval for trade name, commercial activities, the identity of the partners by submitting the documents in the Department of Economic Development.
- File the relevant documents with Free Zone Authority or Commercial Registry of Department of Economic Development.
- Open a corporate bank account and deposit the share capital to obtain a certificate of deposit. You will also receive a bank statement.
- Sign a lease agreement for setting up an office in the United Arab Emirates.
- Apply for a trading license according to your business requirements such as commercial license, industrial license, manufacturing license, a professional license. Submit the following list of documents along with license application form:
•Company name certificate
•Lease agreement of office
•Certificate of deposition of the capital amount
•Service agreement Business license approval is completed within three weeks. - .Register the business in Ministry of Commerce by submitting the completed application form along with all relevant documents which must be notarized. After approval of the application, you will achieve a company registration certificate, and MOA is published in the bulletin of Ministry of Economy and Commerce.
- .To obtain the work permit, you need to apply for an establishment card from the Ministry of Labour and register the company with DNRD. This process is mandatory for businesses operating in mainland and free zone areas.
Documents Checklist for Business Registration Process:
The list of documents which you must mandatorily have to register your business successfully are:
- Details of shareholders and directors of the company
- Financial statement, bank statements (3 months), M&AA, certificate of incorporation of all the shareholders and directors.
- Certificate of capital deposit from a local corporate bank of UAE.
- .Signed lease agreement of office premises of UAE.
- Service agreement signed between a foreign investor and local shareholder (51% shares)
- A commercial service agreement with UAE company to operate in the free zone.
Incorporating a company in the United Arab Emirates is simple, and this country is highly developed with world-class technology and infrastructure which will boost your income. Please contact us, 3E Accounting will provide you with the best service.
