6 Essentials Steps For Trading Company Registration in Dubai (Must Know)
Knowing the right steps for trading company registration in Dubai has always been a hustle bustle for the entrepreneurs. Who takes the credit? It’s the ample zones available for incorporating an import-export entity in the UAE.
And being an entrepreneur it’s inevitable for you to face endless confusions and challenges. These hurdles and confusions could be in terms of choosing the right locations, getting license approvals, or whatnot.
In this blogpost, we’re going to share the 6 most essential steps to incorporate a trading business in the UAE. But before that, let’s know a few scopes of setting up a trading entity in Dubai.
What are the scopes of trading company registration in Dubai?
The import-export entities are booming in Dubai. It’s because a trading company in the UAE earns a lot of profits. As per the Statista’s reports for the year of 2020, the Emirate’s trade balance crossed 93.54 billion U.S. dollars. Isn’t it huge?
Here is why registering a trading company in Dubai has endless scopes:
- Perfect location with an excellent accessibility to ports
- Convenient product distribution management
- Liberty of duty free export to over 17 middle east counties, and more.
Also Read: Top 6 Reasons Why You Need To Set Up Business in Dubai (2022 Tips)
How to get started for Trading Company Registration in Dubai?
Now, when you understand the scopes and benefits of starting a trading entity in Dubai, let’s see how to register it. Let’s dive in.
1-Select Your Trading Activity
While registering an import export business in the UAE,the first step is to choose your trading activities. These activities will help you in deciding the suitable type of license for you.
For instance, if you desire to trade multiple unrelated goods, then a general trading license will be the best alternative.
2- Think of a Company Name
After listing out trading activities, the next essential thing you have to do is to think of a company name. Make sure you are keeping certain things in mind while doing it. You just need to abide by a few name conventions, such as:
- The name must not include any offensive or blasphemous language
- Restrain yourself from using the names of well-known organizations
- In case you use your name, then avoid using abbreviations
3- Decide on a setup location
Dubai serves you a lot of location choices to incorporate your trading company. Whether you start your trading business in Dubai Mainland, or incorporate it a UAE free zone, that’s your call. We will recommend you to choose any of the UAE free zones to get started.
For example, Fujairah Free Zone that is just 15 minutes away from Fujairah Port will be an impeccable choice. Thanks to the capability of this port for serving direct routes to the Persian Gulf, the Indian subcontinent and Africa.
4- Apply for the suitable trading license
Are you now thinking how to apply for the suitable trading license for your business? Well, it isn’t a rocket science. There are two ways for doing it. One way is to directly apply for it from the Department of Economics Development (DED). Whereas, the other way is to go the municipality of your chosen emirate to apply for the relevant trading license.
Enlisted below is the list of the documents you need to provide:
- 100% filled up application form
- Proposed owner’s passport copy
- Two colour passport size photographs with a white background
5- Fulfill The Customs Requirements
Since you are planning to trade with various companies situated around the world, considering custom requirements becomes essential. Although you can lap up the benefits of import-export tax exemptions in free zones, you still need an import code. You need to request it from the Federal Customs authority.
All you need to do is to offer the following documents:
- General trading license’s copy
- Passport’s copy
- Information about the trading activities
6- Obtain the Required Visas
After applying for the business license, the next crucial procedure for trading company incorporation in Dubai is to get the required visas. It’s always a great idea to seek guidance from the company formation experts based out in Emirates.
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In order to be eligible for the maximum number of visas,there could be a plethora of factors. You will need to evaluate your company’s size, your chosen setup, and a lot more things.
Wrapping it up:
Indeed, incorporating a trading company in Dubai has endless scopes and possibilities. So, investing in it is definitely a win-win game for entrepreneurs. Hopefully, the above-discussed steps will give you more clarity for undergoing smooth trading company registration in Dubai.
Do you still need one-to-one assistance for your trading business formation in Dubai? Feel free to connect with Industry experts.
How To Incorporate A Cyber Security Business In Dubai? (5 Hassle Free Steps)
If you’re willing to incorporate a cyber security business in Dubai, then it’s a great move. All you need to do is to follow the right steps to establish it without any hassle. Check out this blog post and know these steps one by one.
The cyber security market is reaching the heights every day. Why so? Well, with the growing cyber solutions, the chances of unparalleled cyber attacks are just inevitable. NMSC (National Merit Scholarship Corporation) forecasted the value of the global security market to reach 430.46 billion U.S. dollars by 2030.
Dubai holds a strong reputation when it comes to ensuring cyber security of individuals and businesses. It simply means that this city serves endless scopes for establishing a cyber security entity.
Let’s dive in and check a few more reasons why starting a cyber security business across the UAE is essential.
Why Should You Incorporate A Cyber Security Business In Dubai?
Currently, there are over 90% UAE residents who scroll through one thing or the other over the internet. And with the booming usage of new technologies across the internet, such as smart cities, cloud, IoT, and much more increases the need for cyber security.
Now, when there are so many data vulnerabilities across the web, having an effective data security system also becomes important. It’s possible by taking services from the cyber security firms across the UAE. Scroll down to check the methods for forming a cyber security business in Dubai
5 Hassle Free Steps To Incorporate A Cyber Security Business in Dubai
When you now understand how essential it is to establish a cyber security business in the UAE, let’s check the steps.
1- Decide On Your Entity’s Name
One thing that’s extremely important while starting a cyber security business is to decide its name. You need to be extremely particular about it. There are certain conventions you have to keep in mind while choosing the name of your business. For example, avoid using names which include offensive words.
2-Identify The Jurisdiction
Did you identify the jurisdiction for your cyber security business? Well, it’s important to do it as soon as possible. The UAE government offers three economic zones or jurisdiction for incorporating a business in Dubai, such as:
- Dubai Mainland
- Free Zone Regions Across The UAE
- Offshore and Onshore Areas
You can always identify your jurisdiction according to the business needs and requirements.
Also Read: 5 Most Essential Steps For Getting A Dubai Partner (2022 Tips)
3-Choose Your Legal Structure
While establishing a cyber security business in the UAE, choosing a legal structure for the company is a not-to-miss step. Make sure you are doing it. This offers the organisation to handle the losses and profits along with structuring the assets and resources. Getting a cyber security business license is impossible without outlining the legal structure.
Enlisted below are some of the business layouts and legal forms that are open for registration across the UAE:
- Free zone company branch
- Sole establishment
- Limited liability company (LLC)
- Local or foreign company branches
4-Submission Of Documents Cyber Security Business Incorporation In Dubai
Setting up a cyber security business and getting a license for it is just like the two wheels of a moving cycle. Both the processes work simultaneously. Still, the approval and paperwork steps have multiple stages. In this case, you can connect with the best-in-class business setup consultants like TVG.
Let’s check out the required documents for setting up a cyber security firm in Dubai:
- If you or your partners are employed by a company, you need a No Objection Certificate (NOC).
- Your office space should have a valid tenancy contract.
- An attestation of the Memorandum of Association.
- You need to fill out application forms.
- Present the copy of your passport
- Provide a copy of your Emirates ID
5- Apply For The Visa
Last but not the least, you need to ensure that you’re applying for the relevant visa. You need to be extremely careful while providing the needed information for visa application procedure. Here are the 4 stages of your UAE visa application process:
- Getting an entry permit
- Making changes to the legal status
- Undergoing the medical screening test
- Obtaining stamped visa and acquiring the Emirates ID
Summing it up:
Indeed, establishing your dream cyber security business in Dubai won’t be rocket science if you’re following the aforementioned steps. All you have to do is to ensure that you’re providing the relevant information while filling your visa and business license application forms.
Are you confused while deciding on the suitable location to incorporate a cyber security business in Dubai? Feel free to call business setup experts in that case.
How To Open A Restaurant In Dubai? (Best Tips For A Kickstart)
Are you confused about how and where to open a restaurant in Dubai? Well, this blog post is surely going to end all your doubts.
The UAE gives shelter to more than 200 nationalities. And every individual craves delicious food, no matter what nationality they belong to. Today, the UAE market is impressively booming where the sales of fast-food restaurants are expected to reach 4.5 billion U.S. dollars in 2022. It simply means that starting a restaurant in the UAE holds endless opportunities.
Let’s dive in and check a few points you need to keep in mind while incorporating a restaurant in Dubai.
6 Must-Needed Steps To Open A Restaurant In Dubai
There are certain steps you need to take while opening a restaurant in Dubai, such as:
1- Have An Approximate Idea Of Setup Cost
When it comes to incorporating a restaurant across the UAE, it becomes extremely essential to have an idea about your investment. Just jot down the expenses you have to bear beforehand.
Here are some of the costs you need to keep in mind while starting your restaurant:
- License fees
- Rent or expenses of purchasing a new property
- Various approval costs
- Expenses on staff training programme
- Insurance fees
- Capital for working
- Infrastructure cost
2-Get The Required Licenses To Open A Restaurant In Dubai
One of the most essential requirements for starting a restaurant business in the UAE is getting a trading and food license. Let’s know about each of these licenses in detail.
Trade License
The Department of Tourism and Commerce Marketing of Dubai is responsible for offering a trade license. All you need to do is to mention the type of restaurant you will be operating. The expenses for acquiring a trade license vary from restaurant to restaurant and can cost up to AED 40000.
Make sure you are following the below-mentioned steps for getting a trade license:
- Identify the nature of the business, whether it’s commercial, professional or industrial
- Determine the number of business activities the company will be performing (maximum limit: 10)
- Give your enterprise a legal status in the UAE
- Choose and register a trade name for your company
- Application submission for initial approval
- Rent a corporate office
- Prepare all necessary documents
- Submit a final application to DED for approval
Also Read: How To Apply For UAE Golden Visa? (Easy Steps)
Food License
Obtaining a Food License from the Food Safety Department is essential for the further approval of the restaurant construction plan. Here are the required documents you need to present:
- Trade license’s copy
- The interior design structure of the building (only if applicable)
Although the aforementioned licenses are the basic license requirements, you might also need the following licenses:
- License for food consignment release
- Pork permit for managing and serving pork products
- Vehicle permit for the transportation of food products
- Liquor License (if applicable)
3-Identify The Restaurant’s Concept And USP
Once you have the documents ready for the various license approvals, another important step is to identify your restaurant’s USP. Make sure you are presenting some uniqueness in your restaurant theme.
Your restaurant with an out-of-the-box theme will play an essential role in attracting more customers.
4-Choose A Suitable location
Did you decide on the location of your restaurant? Not yet? Well, make sure you are choosing one wisely. Do proper research before choosing the physical space for your restaurant. Some of the most suitable locations for setting up a restaurant across the emirates are:
- Jumeirah
- Emirates Hills
- Dubai Creek
- Mall of the Emirates
- Al Quoz
Still, if you are looking for some other location across the UAE, you can consider the factors like client base, accessibility, affordability, etc.
5-Craft The Restaurant Menu
A relevant restaurant menu that drives profit is extremely essential in every restaurant business. Make sure that you are also creating one. Keep your high revenue generating food items at a place that grabs the most attention of the customers. Try drafting tempting menu descriptions.
Furthermore, always ensure to embrace flexibility when it comes to updating your menu.
6-Get Construction Approvals
Did you know? Your dream of opening a restaurant in the Emirates can shatter if you don’t get prior construction approvals from the Food Court department of Dubai. Submit the blueprint of the following details:
- Space of the restroom
- Passage detail for entry and exit
- Area of food processing and storage units
- Location of equipment used for food processing
Summing it up:
Without a doubt, opening a restaurant in Dubai doesn’t remain a tedious task if you have the right procedures. We hope this article post gave you a rough idea about how to open a restaurant in Dubai.
Well, Dubai follows a strict food code when it comes to the establishment of restaurants. So, it’s always insightful to seek guidance from business consulting firms. Make sure you are doing it.
7 Ultimate Steps To Acquire eCommerce Business License In UAE (2022 Tips)
Willing to acquire an eCommerce business license in UAE but don’t know where to start? Check out this guide to know the ultimate steps for the eCommerce business license registration procedure.
Believe it or not but eCommerce platforms are gradually becoming the talk of the town. And why not. After all, eCommerce stores help you in reaching your target audience worldwide and that too without spending much on marketing. Surprisingly, the E-commerce sales in the UAE are expected to grow by an average of 23% per year between 2018 and 2022.
Now, the question is, “ How are you going to become a billionaire after attaining an eCommerce business license in Dubai?” Well, it’s easy. But before that, let’s explore the opportunities and benefits of incorporating eCommerce businesses in the UAE.
What are the opportunities and benefits of getting An eCommerce Business License In The UAE?
Did you know? As per the reports by UAE National Economic Register, the eCommerce sector issued the highest number of eCommerce business licenses. Here are some good things about setting up an eCommerce entity across the regions of the UAE:
- Benefits of zero taxes, excluding 5% of VAT
- There isn’t any additional fee required for starting the business or during the entire business process
- Permission for multiple currency transactions
- Expatriates get 100% ownership
- No restrictions on capital withdrawal
- Minimal cost of operation
How Many Types of E-commerce Licenses in UAE are currently available?
Now, when you know the benefits of starting an eCommerce business in UAE, let’s explore the types of eCommerce licenses.
E-trader license
The e-trade license scheme by the DED(Department of Economic Development) aims to help online stores on various social media platforms, including Facebook, Snapchat, Instagram, etc.
These online stores can get an eCommerce license, no matter what platform they are currently running. Currently, only UAE citizens can are eligible to avail of this scheme. Additionally, this scheme restrains individuals from launching a physical store.
Portal License
Even non-UAE citizens can are eligible for obtaining this type of eCommerce business License in UAE. You can lap up the benefits of linking your buyers and sellers with each other via portal license. This type of license is extremely beneficial for listing websites.
Virtual Company License
Another essential eCommerce license is a virtual company license. However, its business scope is limited to only three sectors, including:
- Computer and technology
- Designing Related Businesses
- Printing and advertising related services
Here are the 7 steps you need to follow to get an Ecommerce Business License in Dubai
1-Analyse The Legal Structure Of Your Ecommerce Business
Prior to starting your business, it’s essential to understand the legal structure of your business. Choose your suitable business model from the following list:
- business-to-business(B2B) model
- business-to-client(B2C) model
- client-to-business(C2B) model
2-Select The Suitable Location For eCommerce Business Incorporation In Dubai
Once you know the legal structure of your eCommerce entity, the next step is to choose the most suitable location for your business. This location complete depends on the type of business activity you practice. Presently, there are 30+ free zones and 2 Dubai Mainland locations available for incorporating aN eCommerce business in UAE.
3-Register Your eCommerce Entity’s Name
After picking the relevant location, another step is to begin the registration process of your eCommerce trade’s name. Go to the suitable Economic Department for collecting the registration form and fill it up.
Point to Remember:
Make sure you are using a name that’s valid as per the norms decided by the UAE government. Avoid using foul, religious, and controversial terms in your entity name.
4-Submit Your Dubai eCommerce License Application
One more important step for completing the registration process of your eCommerce business is to submit the license application. Check below the list of documents you need to present:
- The application form must be filled out completely
- A copy of each shareholder’s passport/visa
- Investors and shareholders must provide proof of their identity and address
- Copies of sponsors’ passports/ Emirates IDs
- An agreement between a local service provider and a civil contractor
- Obtain a letter of authorization or NOC from the appropriate authority
- Memorandum & Articles of Association
5-Rent A Physical Space For Your Business
Your eCommerce store isn’t considered a legal entity without a physical office space. Make sure you have one for performing and managing your business activities, such as shipping.
6-Accede to the Export/Import Regulations
Make sure your business has a registration with one of the ports and customs authorities. It will allow you in receiving an importer’s code. Right now, UAE imposes a custom duty of 5% on imported goods. You can sell your product/service within the free zone regions without any import duty if your company belongs to Dubai free zone.
7-Set Up A Corporate Bank Account
Setting up a corporate bank account is also essential for hassle-free transactions of your eCommerce store in Dubai. The application procedure to open a corporate bank account is quick and easy. So, all you need to do is to look for the bank that fulfils your trading needs and open an account in it.
Wrapping it up:
Without a doubt, the opportunities for eCommerce businesses are gradually increasing in Dubai. And this is a motivating factor for investors to acquire an eCommerce business license in UAE for making a profit.
We hope this article post is going to help you in getting an eCommerce business license without any hassle. However, there are chances you may feel stuck while applying for the eCommerce license. Well, you can call experts in that situation.
How eCommerce Business Registration in Dubai Can Make You A Billionaire? (Ultimate Tips)
If we talk about the benefits of eCommerce business registration in Dubai, then it’s an impeccable opportunity. Ecommerce businesses are thriving across the globe. And according to a survey conducted by Statista in 2021, the estimated eCommerce sales will grow by 23% across the UAE between the years 2018-2022. Well, it simply means that eCommerce businesses serve as a great opportunity for entrepreneurs to become a billionaire.
Here are 7 Ultimate Tips You Can Follow For Successful eCommerce Business Registration in Dubai
1. Explore The Market Potential
Before the commencement of your eCommerce business in Dubai, it is extremely essential to analyze the market trends. You need to understand your target customers’ psychology and then work on the UVP(Unique Value Proposition) of your business. Depending on the market potential, you can choose any of the following business models:
- business-to-business(B2B) module
- business-to-client(B2C) module
- client-to-business(C2B) module
2. Select A Suitable Location For Ecommerce Business Registration In Dubai
Location is another factor that you need to consider if you are thinking of registering your eCommerce business in Dubai. An advantage of incorporating an eCommerce business in the UAE is the hassle-free business operation without a need for physical space. Here are two zones which you can choose for establishing your eCommerce venture in Dubai:
- Free Zones
The UAE offers 40+ free zones for business incorporation. The most suitable free zones for eCommerce enterprises include SHAMS Free zone, IFZA, Dubai Airport Free Zone, SPC Free zone, etc. The good things about starting a business in the free zones are 100% ownership, 0% income tax, full business profit repatriation, and much more.
- Mainland Zone
Another location option for investing in an eCommerce business is the Dubai Mainland. Currently, there are two legal areas you can approach for getting a Dubai mainland business license. A mainland eCommerce company get an official authorization from the Dubai Economic Department (DED) to operate business internationally and locally.
3. Register the Name of Your Ecommerce Entity
Once you choose the location, the next step is to register the trade name of your eCommerce venture. All you need to do is to fill up an application form after receiving it from the suitable Economic Department.
One thing you need to keep in mind is to decide on a name that is valid for Dubai. For instance, avoid using names which contain foul, religious, and controversial names. In case, your company name is after a person, use his/her full name.
4. Obtain An Ecommerce License
Chosen the suitable location for your eCommerce store and Decided on its name? What next? Yes, you’re guessing it right. It’s how to apply for an eCommerce business license in Dubai. Enlisted below are the eligibility criteria for obtaining an e-commerce license in the UAE:
- The owner’s age must be 21 years or above
- A valid Emirates ID
- Need for a registered company name
- Payment of fees within 24 hours of the registration form submission
- Completion of the registration process with DED
- Annual license renewal within one month of the expiry date
5. Create A Flawless Ecommerce Website
Can you imagine yourself gaining profits from an eCommerce business without a commendable eCommerce website? Of course, it’s unimaginable. Make sure you are developing a user-friendly, secure, SEO-friendly and speed-optimized eCommerce website for your business. You can hire professional eCommerce website developers for it.
6. Incorporate A Secure Payment Gateway
A trustworthy eCommerce website is one that has a secure payment gateway. Thus, you also need to integrate one for your eCommerce store. You require a merchant account from your local bank or a payment service provider for making it possible.
Be particular while optimizing the payment getaways which handle the user traffic as per the TRA (Telecommunications Regulatory Authority) guidelines. It’s also essential to ensure that your website offers 24/7 customer support in case of payment failures.
7. Provide 24X7 Customer or Logistic Support
Whether it’s offering round-the-clock customer support, managing technical aspects, or building a strong logistic system, everything matters. Your eCommerce business should include them all.
Import and export facilities are unavoidable elements for an eCommerce store’s survival. So, you need to manage them impeccably.
Summing it up:
Undoubtedly, Dubai has the fastest-growing eCommerce market in the Middle East and it will continue to grow in the future. You just have to follow the aforementioned steps for your eCommerce business registration in Dubai and see the magic. The dream of earning billions through your eCommerce business will turn into reality.
Are you ready to take the first step in registering your eCommerce business in Dubai? Seek free consultation from industry experts.
How To Undergo Offshore Company Registration in Dubai? (Step-by-step Guide for 2022)
If you’re thinking of undergoing offshore company registration in Dubai, then there are certain steps you have to follow. These steps are the factors that ensure whether the offshore areas of Emirates are suitable for your business activities or not.
Once you undergo the entire procedure, it becomes a matter of a few weeks to form an offshore company in Dubai. Let’s explore all the steps to establish an offshore company in the UAE.
Step-by-step Guide For Offshore Company Registration in Dubai
Incorporating an offshore company in Dubai is a hassle-free process. All you need to do is to follow certain steps. Here are they:
1- Choose A Company Name
The first step is to decide on your company name according to your business activities. Make sure you are initially verifying the name of your company with the registrar. Don’t forget to include Ltd. or Incorporated in the end. Also, avoid using the following words in your company name:
- Insurance
- Bank
- building society
- Cooperative
- Fund
- Municipal
- Chamber of Commerce
- Trust
- Royal
- Chartered
- Finance
- Mutual fund
- Emirate
- and Emirates.
Also Read: The Ultimate Fact Sheet About Dubai Offshore Company Incorporation (Pros & Cons)
2. Fill Up The Application Form
Once you choose the respective company name, the next requirement is to fill up the application form. Submit the relevant documents, including:
- Documents proving the identity of the directors and shareholders
- Proof of the address of the shareholders and directors
- CV of the shareholders and directors
- An effective business plan
- Photographs of the directors and shareholders
These document requirements are slightly different for individuals and corporate business entities. Scroll down to know about them in the next step.
3. Submit the Required Documents
After the collection of required documents, make sure you are submitting them to the concerned authorities. These authorities will review the submitted documents and issue approvals.
Suppose you are an individual shareholder, provide the enlisted documents:
- Shareholder’s attested passport copy
- Residential Proof
- Document of original bank reference
- Information about the shareholder/owner
- Company’s name preference
- Newly formed offshore company’s business activities
- Arrangement of beneficiaries according to their hierarchy
In the case of Corporate Shareholders
- Resolution adopted by the Board
- A Memorandum of Association
- Parent company certificate that mentions the name of shareholders/directors, and it should be duly attested.
- Hierarchy of beneficiaries
4. Prepare the MOA and AOA
Moving ahead after obtaining the approvals, the next procedure is to draft the Memorandum of Association (MOA) and the Articles of Association (AOA). Prepare each of them in the English language which is a practical language for international business.
These drafted documents will be reviewed by the relevant authorities. Once they approve these documents, you can officially incorporate your offshore company in UAE.
5. Establish an offshore account
The full and final step for ensuring Offshore Company Registration in Dubai is to open an offshore bank account. This bank account will allow business owners to carry out business transactions effortlessly.
Furthermore, the offshore jurisdictions also assist the business owners in opening offshore companies and offshore bank accounts in various locations across the UAE.
You also need to remember that an offshore company can’t carry out any business activities on the territory of the UAE. Offshore entities are just allowed to open offshore bank accounts in Dubai and buy real estate.
Summing it up:
Without a doubt, this blog post covers all the essential steps and documentation processes required to incorporate a Dubai offshore company. You just have to undergo these step-by-step methods for Offshore Company Registration in Dubai.
Are you finding this process complicated due to your unawareness of legal regulations? Well, it’s always a constructive thought to seek advice from professional business consultants in that case. We can help you in establishing your offshore company across the UAE without any hassle. Feel free to reach us.
The Ultimate Fact Sheet About Dubai Offshore Company Incorporation (Pros & Cons)
Every entrepreneur desires to grow with limited expenditure and it becomes achievable through Dubai Offshore Company Incorporation. Do you know how? After all, having an offshore company in the UAE has more liberal laws than in Dubai Mainland regions.
But as we all know, every good thing has a few drawbacks too. Even the Offshore zones of Dubai have some glitches when it comes to doing business.
Are you now eager to know both the pro and cons of forming a company in offshore companies in Dubai? Well, it’s essential to give you a brief introduction to offshore companies before it. Let’s dive in.
What are Offshore companies in the UAE?
Offshore firms in the UAE are also popular as ‘paper’ companies amongst investors and entrepreneurs. An offshore company is a 100% foreign-owned limited liability company which doesn’t require a trade license for business activities. Here are some of the regions suitable for offshore company incorporation across the UAE:
- Jabel Ali Free Zone (JAFZA)
- Ajman Free Zone(AFZA)
- Ras Al Khaimah(RAK)
Now, let’s check out a few pros of establishing a business in offshore regions of Dubai.
Pros of Dubai Offshore Company Incorporation
As we said earlier, forming an offshore company in the UAE has a plethora of advantages. Such firms get impeccable freedom from various governmental authorities and formalities. And these convenient procedures have been attracting investors and entrepreneurs to invest in UAE offshore companies for years.
Enlisted below are some of the benefits of incorporating an offshore company in Dubai.
- Offshore entities exempt you from various taxes and several monetary advantages that reduce extra company expenditures.
- The state laws do not regulate the offshore companies which give them even more freedom in doing trade.
- As an entrepreneur, you can perform a cornucopia of transactions without any hassle or limitation.
- Registering an offshore company is a faster process than other types of companies across the UAE.
- You don’t need to look for an Emirate sponsor to establish an offshore company. It means you can hold 100% shares of your company.
- Your entire information related to shareholders and board of directors remains confidential for offshore companies in the UAE.
- Being an offshore company owner, you don’t have to undergo financial audits from the authorities.
- One can enjoy the Freedom of getting the benefits of authorized multi-currency accounts in UAE offshore firms.
Cons Of Dubai Offshore Company Incorporation
Although there are neverending benefits of setting up an offshore company in the UAE, there are certain drawbacks to it too. Forming an offshore company is just beneficial for some sort of business. Scroll down to know a few shortcomings of incorporating offshore companies in Dubai.
- You can’t perform your business activities inside the UAE with an offshore company.
- There are limitations to getting local complexes on rent for the purpose of trade.
- In an offshore entity, you get the authority to issue a visa, this thing becomes complicated if there are multiple owners in your company.
- Setting up an offshore company is beneficial only for a certain types of business activities.
- The requirement for hiring a company registration agent to complete offshore company registration in UAE.
Wrapping it up:
Undeniably, going for Dubai Offshore Company incorporation will be a great opportunity if you wish to save business establishment costs. And since the pros of UAE offshore companies are more than the cons, it gives you ample reasons for setting up an offshore company in the UAE.
All you need to do is to follow the right set of procedures for doing it. These procedures include everything, from choosing the firm name to opening an offshore bank account.
Are you confused about whether your business activities are suitable for UAE offshore company setup or not? Feel free to connect with the experts at TVG for hassle-free offshore company registration in Dubai.
5 Most Essential Steps For Getting A Dubai Partner Visa (2022 Tips)
Acquiring a Dubai Partner Visa is like a dream come true especially if you are a budding entrepreneur. And why not? After all, UAE ranks 16th position on the Index of Global Ease of Doing Business. It simply means that doing business in Dubai is just like walking in the park.
But you can’t start a business in the UAE if you don’t even have a Partner aka an investor visa. Check out this blog post for getting the complete detail on registering for a partner visa aka investor visa in Dubai.
What are the Required Steps to register for a Dubai Partner Visa?
Holders of investor visas in the UAE are entitled to a number of exclusive benefits. Therefore, if your business needs fulfil the essential requirements, you should consider applying for a partner visa in the UAE. Please follow the steps below to do so:
- Submission of visa application
- Completion of the request for status change
- Go for the mandatory medical examination
- Apply for Emirates ID via authentic Typing Centre
- Get a stamp on your Partner’s Visa
Detailed Description of the Required Steps for Getting A Dubai Partner Visa
Indeed, applying for an investor or partner visa in Dubai involves a particular procedure. Let’s explore the above-mentioned steps for obtaining a partner visa in the UAE if are an entrepreneur:
Submission of visa application
If you want to submit the visa application without any mistakes or contradictions, then you should take it to the local typing centre. The experts over there will ensure the error-free filling of your visa application. Moreover, you can apply for a partner/investor visa if the partner owns a minimum of 25% of the venture.
Additionally, you need to keep all the mandatory documents handy for the purpose of identity verification. Once the immigration council approves your request, you need to accept the emailed investor visa application consent.
Completion of the request for status change
After the completion of your investor visa UAE application, all you need to do is to change the application status. Here is how:
- Firstly, wait for some time to receive the approval from the GDRFA (General Directorate of Residency and Foreigners Affairs Dubai)
- Secondly, go to the sanctioned typing centre for winding up the changed status of the application. Make sure you received the approval from the GDRFA before following the second step.
Notably, this process can be a hassle if you miss even a single detail. Thus, we will advise you to seek guidance from visa professionals.
Go for the mandatory medical examination
In order to apply for an investor visa in the UAE, a medical examination is an obligatory step in the process. First of all, you must complete the medical typing in order to qualify for the examination.
Later on, you can visit the authorised medical centre on the assigned date. Perform the organised medical test by the authority and get an instant result for it.
Apply for Emirates ID via Authentic Typing Centre
Emirates ID is important for a safe stay in various regions across the United Arab Emirates. So, it’s extremely essential that you are having one. After the completion of the medical typing and health exam, make sure you’re focussing on the Emirate ID typing procedure.
Various legitimate permits, even the partner visa Dubai needs to be linked to a valid Emirates ID. Moving ahead, you might also need to authorise your fingerprint according to the genre of your application and industry standards.
Get a stamp on your Partner’s Visa
Lastly, after winding up all the aforementioned requirements, make sure you get a stamp on your UAE Partner Visa. There are certain officials assigned for this purpose. Go to an authorised location for the commencement of the visa stamping process.
In the end, the Immigration Department will send you an approval/rejection message to your official mobile number.
Wrapping it up:
Without a doubt, investing in Dubai becomes a smooth process if you have an investor/ partner visa. And after reading this blog post, you can imagine how easy it is to get your Dubai partner visa.
Although this process is effortless, seeking advice from a professional consultancy firm can make things even easier for you. They will guide you in choosing the suitable type of partner/investor visa Dubai.
Everything You Need To Know About UAE Visa Renewal (Steps For 2022)
UAE Visa Renewal process can sometimes be confusing due to several steps involved in it. Check out this blog post to know the right steps to apply for your residence visa renewal in UAE.
Staying and falling in love with the skyscraper city aka Dubai is most individuals’ dream. And why wouldn’t they dream of it? After all, this place weaves the stories of growth and progress every day. Thanks to its world-class infrastructure and facilities that are gradually making it an investor-friendly place. Moreover, you can also stay assured about your security while living here.
After reading this blog post you will know everything about renewing your resident visa in this trade hub country. Let’s dive in.
Why Is UAE Visa Renewal Essential?
Going for a visa renewal UAE is extremely important if you want to enjoy the long-term benefits of staying here. It’s because, with a renewed UAE Visa, you can continue to live in the city of wonders with its government’s permission.
General Directorate of Residency and Foreigners Affairs (GDRFA) gives a grace period of 30 days to stay in the UAE after the visa expiration. Consequently, your other documents like Emirates ID card, Citizenship car, Customs & Ports Security (ICA) will automatically expire. After that, you need to pay heavily levied fines for residing in Dubai.
According to the fine system of the UAE immigration, here is the penalty to need to pay:
- During the first six months (180 days), pay AED 25 per day
- In the next 6 months (180 days), the levied penalty is AED 50 per day
- After passing one year, you need to pay AED 100 per day
What Is the Earliest Time To Apply For The Visa Renewal UAE?
Although, the time limit for the renewal of an expired residence visa is 30 days from the expiration date. Still, you can renew it a few months earlier if you have some travelling reasons. This duration could be between one to six months.
Just seek special permission and approval from the relevant authorities of the General Directorate of Residency and Foreigner’s Affairs.
How to Apply for the UAE Visa Renewal?
There are a few requirements you need to keep in mind while applying for your visa renewal in the Emirates. These might vary from individual to individual. Let’s have a look at each of them:
Basic Document Requirements
There are certain basic documents necessary to renew your UAE visa. Here are they:
- The necessity to pass the medical fitness test if you are above 18
- Need to have an insurance card (especially for Dubai and Abu Dhabi)
- One has to present the newest identified card that has been issued from ICA or the proof of original registration receipt
- Signed online application form by the sponsor that declares the residency permit
- Sponsor’s original passport
- Sponsor’s photograph
For Employers Who Belong To The Private Sector
Suppose you are an employer working in the private sector, your sponsoring company needs to submit the following additional documents:
- Valid firm card copy
- The most recent trade licence copy
- Sponsor’s renewed labour card copy
- If your sponsor is an individual above 60 years of age, then they must present the labour card renewal receipt copy
Requirements For Individuals Who Are Sponsoring Their Family Members
In case your sponsor is your family member, maybe your spouse, child or parent, then they need to present:
- The husband/wife’s employment contract or a copy of the company contract for investors
- Need for an employer’s salary certificate detailing the employee’s monthly salary
- Legalized certificate of marriage
- Registered contract of tenancy
- Recent bill of utility
Summing it up:
Indeed, this blog post has everything you need to about UAE visa renewal. The next step you need to follow is to hire a consultancy firm for residence visa services in Dubai. Our experts can do it for you, we have years of experience in hassle-free UAE visa processing.
