The UAE has rapidly become one of the most sought-after locations for company formation. The country continues to lead economic growth in the region while offering founders an attractive business environment.
So, if you are thinking of establishing a company in the UAE, here is what you need to know.
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1. The UAE provides the ideal business climate.
The UAE is one of the world’s most prominent business and investment hubs because of its political stability, steady and robust capital flow, favourable taxation laws, liberal trade norms and a remarkably secure and well-regulated business ecosystem.
Additionally, the country is home to around 45 free zones that facilitate various business operations across many industries. These free zones are one of the main reasons why the UAE has become such an economic growth story with investments coming from around the world.
When you set up your company in a free zone, you benefit from various advantages, including 100 percent foreign ownership permitted, 100 percent repatriation of capital and profit permitted, no corporate or income tax, no import and export tax, and simple and quick set-up.
2. Offshore licensing is also an attractive option.
Another option is to create an offshore company, defined as an entity that is operated from outside the country of its official registration or the location of its owners and stakeholders.
In the UAE, business owners interested in this option have the choice of the Jebel Ali, Ras Al Khaimah and Ajman jurisdictions for offshore licensing.
When a company is set up in this manner, business owners do not need to have local shareholding and can receive 100 percent foreign ownership of their trade.
Moreover, these offshore companies are exempted from corporate taxes and have no minimum share capital requirements. These benefits are significant and are incredibly enticing to investors, small business owners, and multinational companies worldwide.
3. Work only with UAE company formation experts.
All that being said, at the end of the day, opting to form a company in another country can be an incredibly intimidating course of action – which often inhibits individuals from taking the necessary steps.
After all, you don’t want to have a misstep in any part of the process. Not to mention the time it takes to organize the appropriate contacts and resources and gather the necessary documentation for legal proceedings can also be a hindrance.
For this reason, it is highly advised that you opt to work with a company like MBG Corporate Services that specializes in company formation services. These types of experts have years of experience working closely with clients from across all industries and supporting them with all the necessary activities and processes to form a company in the UAE.
Their in-depth knowledge and familiarity with industry-leading practices are essential if you are going to form your company as effectively and efficiently as possible. So, whether you want to open a company in a free zone or establish an offshore company, you should undoubtedly leverage their expertise.
Are you considering forming a company in the UAE? Why or why not? What do you foresee being your biggest challenges?
Let us know your thoughts and any additional insights you have in the comments below!
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