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| What does it mean to incorporate in a Free Zone in Dubai? |
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| Dubai has a number of business development areas known as Free Zones which allow companies to set up in Dubai, while maintaining its 'Offshore Status”. The Free Zones are tax-free and provide purpose-built facilities for offices and related activities. A Free Zone License is normally issued within 2 – 6 weeks, depending on the Free Zone, but some may stipulate that all work must be carried out within the Free Zone. Importantly, many Free Zones will only allow companies to trade outside of Dubai. Some Free Zones are set up to cater for particular types of businesses such as Knowledge Village which provides services for educational companies. |
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| What is meant by a Dubai Offshore LLC? |
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| An Offshore Dubai LLC is a limited liability company set up in a Dubai Free Zone (see above). A Dubai LLC can trade as normal and can be wholly foreign-owned. There is no requirement for the LLC to have a physical presence in Dubai and can operate through an
Agent Location, which can be organized by Baker Tilly
MKM |
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| Are there any advantages or disadvantages of incorporating in Dubai itself? |
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| Incorporating in Dubai proper (as opposed to a Free Zone) does have the advantage of allowing a company to trade freely both within and outside of Dubai. However, a UAE national must hold a minimum of 51% of the company’s shares in a Resident Dubai Company. This would be strictly a nominee role and
Baker Tilly MKM will provide a professional service and
legal assistance to associate with a national. |
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| Is it possible to set up a branch or representative office of a Company in Dubai? |
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| Yes. However, the rules governing such an entity can be restrictive. A branch or representative office of a foreign company in Dubai can meet with clients, conduct marketing and sales meeting and establish a real presence in Dubai. Nonetheless, a branch office cannot engage in trade or actual sales of any kind, nor can it enter into contracts or complete or perform any services offered by the Company Headquarters. |
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| What type of documentation is required to open a Company in Dubai? |
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| This depends on the
type of entity you wish to establish. The documentation
requirements from the Dubai Authorities can be quite
cumbersome. Baker Tilly MKM provides you with a hassle
free solution, please speak to our exert consultants and
we can guide you with best available options. |
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| How long will it take to complete incorporation in Dubai? |
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| This will all depend
on the type of entity you wish to establish. The length
of time varies greatly from one entity to another, but
you should plan for at least four to six weeks. |
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| Is there a public register of shareholders and directors in Dubai? |
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| Details of the directors and shareholders of a Dubai LLC are available for public viewing. |
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| Is a Dubai LLC required to prepare financial statements? |
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| Yes. Annual audited financial statements need to be submitted to the Dubai Government. |
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| Can a Dubai Offshore Company trade within the UAE? |
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| No. In addition, it cannot rent local premises or open a corporate bank account in the UAE. |
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| For more information & details, please get in touch with us today. |
| Call us on +971-43354233 to discuss with our expert business consultant. |
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