Types of Dubai mainland companies:
Per the Businesses Regulation in Dubai, mainland companies can be incorporated under different methods amongst them; limited liability companies, private and public shareholding companies. Foreign establishments also have the option of registering branch offices or subsidiaries as mainland companies in Dubai.
Limited liability companies must have one or more UAE national partner holding at least 51% of shares. While foreign equity in the company may not exceed 49%, profit and loss distribution can be mutually agreed in the MOA.
All types of companies are required to have a Licence.
Licensing requirements for Dubai mainland companies:
There are three types of licenses:
•The trade license,
•The professional license.
•The manufacturing or industrial license,
The Trade License is issued to a company that will engage in any kind of trading activity within the UAE market.
The manufacturing or industrial license is issued for mainland companies investing in the manufacturing industry.
The professional licenses are for the provision of the servicing and consulting services, such as Consultancy Services, Training (all types) and medical services.
The main steps involved in Dubai mainland company setup.
There are seven main steps involved in Dubai mainland company setup. However, there are some activities which require special approval from some specific Government departments.
- Getting a name and activity approval from Department of Economic Development (DED)
- Choosing a Local Partner or Service Agent
- Applying for Initial Approval
- Preparing Memorandum of Association (MOA) and
- Notarization of Memorandum of Association in Court.
- Renting Workplace and getting Tenancy Contact approval.
- Final Submission
The benefits of setting up mainland companies in Dubai:
The registration of a company in Dubai offers many benefits to foreign investors, that is why the Emirate has experienced rapid development during the last few years. Among these benefits are:
•No corporate taxes on the gained profits for legal entities;
•No income taxation for business owners and companies’ employees;
•Simplified financial reporting system – no need to carry out annual audit or the simplified reporting;
•Protection of the interests of the foreign business owners;
•Multiple currency available bank account for companies;
•The geographical location of the country;
•The rapid pace of development;
•United Arab Emirates is one of the safest countries, having a very low crime rate – making it a ideal home for families and individuals.
If your new venture in Dubai wants to get the best start, we will handle your enquiry from the outset, provide transparent advice and guide you through the entire company formation process to the point of incorporation, allowing you to get on with the business of running a business. Our team has a great depth of experience in forming companies in Dubai and all over the United Arab Emirates.CONTACT US TO GET YOUR LICENSE