|Summary||Trading LLC||Pro. services LLC||Fast solution LLC||Offshore company||Free zone LLC||Branch office|
|Specifically||Dubai trading LLC||Dubai services LLC||Dubai nominee LLC||RAK offshore LLC||DMCC Free zone||Abu Dhabi Branch|
|Best use of company?||Trading||Professional services||Close a customer||International trading||Global trading||Specific project|
|Our Client needs to travel to this country?||No||No||No||No||Yes||Yes|
|How soon can you sales invoice UAE customers?||2 months||2 months||3 weeks||Cannot trade locally||2 months||2 months|
|How soon can you sales invoice global customers?||2 months||2 months||3 weeks||2 weeks||2 months||2 months|
|How soon can you sign legal contracts in UAE?||2 months||2 months||3 weeks||Cannot||2 months||2 months|
|How soon can you hire staff in UAE?||2 months||2 months||3 weeks||Cannot hire locally||2 months||2 months|
|Can be wholly foreign owned?||No||Yes||Yes||Yes||Yes||Yes|
|Resident director/partner/manager/agent required?||Yes||Yes||Yes||No||No||Yes|
|Minimum paid up share capital?||US$1||US$1||US$1||US$1||US$1||0|
|Can bid for Government contracts?||Yes||Yes||Yes||No||No||Yes|
|Corporate bank account location?||Emirates NBD||ADIB||Noor Bank||Emirates NBD||Noor Bank||ADCB|
|Can secure trade finance?||Yes||Yes||Yes||Yes||Yes||Yes|
|Limited liability entity?||Yes||Yes||Yes||Yes||Yes||No|
|Average total engagement costs?||US$22,980||US$22,980||US$38,500||US$11,870||US$25,731||US$37,400|
|Average total engagement period?||3 months||3 months||1 month||2 months||3 months||2 months|
Advantages of doing business in the UAE
UAE is a low-tax jurisdiction
Except oil and gas companies and foreign banks, businesses are not subject to corporate taxes. All UAE residents are also exempt from personal income taxes. Capital gains tax is 0% and the VAT rate is as low as 5%.
100% foreign ownership for free zone companies
Unlike limited liability trading companies that require 51% shareholding by UAE nationals, a company incorporated in any of the UAE free zones can be wholly owned by foreigners.
UAE is the leading trading hub in the Middle East
Due to its strategically favourable location, establishing a company in the UAE enables businesses to easily access the GCC countries as well as the African, European and Asian markets.
Disadvantages of doing business in the UAE
A local sponsor is mandatory
Partnership with trusted UAE nationals are beneficial as they can sponsor the application of business licenses and visas. In the case of LLC trading company formation, UAE nationals must hold at least 51% of company shares.
Making business decisions can be overwhelming
With so many free zones operating in the UAE, choosing the right free zone for your company base is crucial, but is setting up a free zone company your best option? Will it be wiser to register an offshore company, or perhaps a resident LLC, to reach your business goals?
Complicated compliance requirements
Each Emirate has its own regulations. A company registered in the UAE has to comply with the national laws and the Emirate’s laws. If it is a free zone company, it must comply with the free zone laws as well.
Incorporate a company in the UAE in 12 steps
The procedure for company formation in the UAE varies for each Emirate. Below are the common steps to register a company in the UAE:
Time required to start a new company in the UAE is 5 months
Open a corporate bank account in the UAE
Healy Consultants Group PLC recommends these 7 banks to our clients i) Emirates NBD; ii) First Abu Dhabi Bank; iii) Abu Dhabi Commercial Bank; iv) HSBC Middle East UAE; v) BNP Paribas Dubai; and vi) ABN Amro.
Accounting and tax considerations
corporate tax in 2019
income tax for residents
capital gains tax
UAE visa requirements
Long term residence visa
UAE issues 5-year and 10-year residence visas to eligible investors, entrepreneurs, and special talents. The benefits of this visa are extended to the spouse and the children as well.
Company owners can apply for this visa when hiring foreign employees.
Frequently Asked Questions
Within 1 business day, our international migration expert Mr. Simon will ring you to discuss your migration plans.