What are the new business opportunities available for companies that set up their business in Dubai before Expo 2020?

Posted Leave a commentPosted in Expo 2020

Geographically, Dubai is uniquely placed as it is within 4 hours flying of one-third of the world’s population and within eight hours of two-thirds. From 2017 onwards, opportunities to profit from the lead up to Dubai Expo 2020 have started. Companies that focus on industries such as transport, construction, electricity and real estate are already […]

What does the theme for Expo 2020 mean?

Posted 1 CommentPosted in Expo 2020

The theme for Dubai Expo 2020 is “Connecting Minds, Creating the Future” The subthemes are chosen with much thought and research, based on the direction the world is going in and with a vision for the future. The subthemes are Sustainability, Mobility, and Opportunity. Sustainability seeks to portray a life that has to be lived […]

What are some specific benefits of doing business from the offshore jurisdiction?

Posted Leave a commentPosted in Offshore Company Formation UAE

Investors do not need to pay corporate or personal income tax. Bank secrecy You do not have to be physically present (IN RAK) in order to start a business in the offshore jurisdiction Privacy is given utmost importance. The formation, maintenance and operation of a company in offshore jurisdiction come together with exceptional transparency of […]

Can you give comparative advantages of setting up a business in Dubai Offshore and RAK Offshore?

Posted Leave a commentPosted in Offshore Company Formation UAE

Both offshore jurisdictions offer most of the services and the advantages are similar such as: Lower tax liability – No double tax agreements Limited reporting requirements Minimum capital requisites Absence of public register Strict confidentiality policies But there are some key differences as well. If you are a business looking forward to setting up a […]

Which are the offshore zones available in the UAE to set up a company?

Posted Leave a commentPosted in Offshore Company Formation UAE

There are three offshore jurisdictions in the UAE. They are: Ras Al Khaimah, ( RAK Offshore), which is under the jurisdiction of Ras Al Khaimah Investment Authority (RAKIA) Dubai Offshore, which is under the supervision of the Jebel Ali Free Zone Authority (JAFZA) Ajman Free Zone, which offers Offshore Licenses to companies that seek to […]

Why should your business be set up in Offshore UAE?

Posted Leave a commentPosted in Offshore Company Formation UAE

Free remittance of profits Security of property rights Access to tax treaties Customs and duty exemptions Greater privacy Validity and Authority of contracts Limited restrictions Higher revenues and returns Exceptional political stability Access to the best jurisdictions Banking privacy Access to foreign insurance Government cooperation Foreign investment inducements Highly stable legal systems State-of-the-art banking facilities […]

How can I open an offshore company in the UAE?

Posted Leave a commentPosted in Offshore Company Formation UAE

Bizvest can help you set up an offshore company in the UAE if you can furnish the following documents: Copies of passports of director and shareholder; Recommendation letter from bank; Certificate confirming residential address of shareholders- this includes statement from the account, which specifies the address; bill for payment of utility services. Bizvest provides cost […]

What are the advantages of registering an Offshore Company in the UAE?

Posted Leave a commentPosted in Offshore Company Formation UAE

Exemption from taxation; 100 % ownership by foreign legal entities and individuals; No requirement for a minimum amount of registered capital; Confidentiality; No restrictions on expatriation of capital and profits; No need to provide accounting records and audit; Fast registration – within 3-5 days; No customs duties on imported and exported goods Offshore Company Formation […]

What are the procedures and documents for getting registration for setting up a company in Free Zone?

Posted Leave a commentPosted in FreeZone Company Formation Dubai

After getting the initial approval, the registration fees and license fee need to be paid. Again, the fees depend on the type of license required. After this, you will need to submit the following documents: Completed application for registration Board Resolution appointing Manager/Director (Notarised and attested) Power of Attorney given to Manager/Director (Notarised and attested) […]

What are the requirements for initial approval for setting up a business in Free Zone?

Posted Leave a commentPosted in FreeZone Company Formation Dubai

The following documents are required to secure the initial approval: Completed application form Business plan Copy of existing trade license/registration certificate (if you are an existing company, this is applicable for local company only) Colored passport copies of the company’s shareholder/s and the appointed Manager/Director for the new company Specimen signature of the company’s shareholder/s […]

What are the documents required to get pre-approvals to start a business in Free Zone?

Posted Leave a commentPosted in FreeZone Company Formation Dubai

Companies established in free zones are governed by the rules of the respective free zones. To secure all the required approvals, Bizvest can guide you apply with the documents. The type of documents varies based on the type of business activity, the company type and the norms set by the free zone authority. Freezone Company […]

Please provide some insights on securing a business license for Free Zone?

Posted Leave a commentPosted in FreeZone Company Formation Dubai

The type of business license you will apply for depends on the primary activity of your business. Types of business activities you can conduct in a Free Zone depends on the Free Zone itself. For example, twofour54 focusses on Media and Broadcasting. In DMCC, there are about 600 business activities to choose from. This includes sectors […]

What is the Capital requirement for a business set up in Freezones?

Posted Leave a commentPosted in FreeZone Company Formation Dubai

It depends from one Free Zone to another. There is no minimum capital requirement at twofour54 Abu Dhabi (this free zone is named after the geographical co-ordinates of Abu Dhabi (24° N, 54° E), catering to the demands of the region’s media industry. BBC, CNN, FOX Television, National Geographic Channels, Sky News Arabia, Cartoon Network, Ubisoft, […]

What are the types of legal entities in Freezone to choose from? What are the differences between them?

Posted Leave a commentPosted in FreeZone Company Formation Dubai

Businesses can set up one of the two types of companies: Free Zone Limited Liability Company (FZ LLC) or Free Zone Company (FZ Co.) Free Zone Establishment (FZE) The differences lie in the number of shareholders and whether the shareholder is a natural person or a legal person. Individual free zones have their own set […]

What are some advantages of starting a business in the Freezone?

Posted Leave a commentPosted in FreeZone Company Formation Dubai

Establishing a business in the freezone allows 100 per cent foreign national ownership and there is no need of a local sponsor or local service agent. Waiver of corporate taxes (time-bound and renewable for further periods) Freezone companies are exempted from personal taxes and import & export taxes. Import- Export duty of 5% on the […]

What is the difference between starting a business in Mainland and Freezone?

Posted Leave a commentPosted in FreeZone Company Formation Dubai

The main differences between an LLC and a free zone company (FZC) in the UAE are the mandatory requirements to open a business organization and the limitations of the business activities that are permitted. The limitation is that a free zone company can undertake business activities inside the free zone area and outside the UAE, […]

What are the steps to getting a business license?

Posted Leave a commentPosted in UAE Mainland Company Formation

Businesses that: conduct insurance activities need to obtain the approval of Ministry of Economy conduct transport activities should obtain the approval of Ministry of Interior offer legal consultancies must obtain the approval of Ministry of Justice sell firefighting equipment will need the approval of Civil Defense. After completing the steps mentioned above, a business entity […]

Are approvals mandatory for running a business in Mainland apart from DED?

Posted Leave a commentPosted in UAE Mainland Company Formation

Yes. In some cases, approvals of bodies other than the DEDs are required. Businesses that: conduct insurance activities need to obtain the approval of Ministry of Economy conduct transport activities should obtain the approval of Ministry of Interior offer legal consultancies must obtain the approval of Ministry of Justice sell firefighting equipment will need the […]

What are the mandatory requirements for choosing a location for a business?

Posted Leave a commentPosted in UAE Mainland Company Formation

It is mandatory that all businesses should have a physical address. The chosen location must comply with the requirements set out by the Department of Economic Development in the respective emirate and the zoning regulations of the local municipalities. In Dubai, the business should have a rent agreement (MoU) for the proposed location of your […]

Is there any need for extra approval for foreign investors to start a business?

Posted Leave a commentPosted in UAE Mainland Company Formation

Yes. Foreign investors must obtain the approval of the General Directorate of Residency and Foreigners’ Affairs before getting the initial approval. Please be advised that the initial approval does not allow a foreign investor to practice the activity, unless a commercial license is duly issued, as a last step of the process. Advisory Services Mainland […]