United Arab Emirates Company Registration Made Simple And Easy to Understand
United Arab Emirates company registration is a lot of work to do especially if you are a foreigner. Or, it used to be a lot of work; as from now on, Asia’s leading accounting services, 3E Accounting is also available in UAE. This means everything you need to do is know about your company requirements and contact 3E Accounting. Then, we will take you through the entire process of company registration in the United Arab Emirates in the minimum time and cost.
Things You Need to Know Before You Register a Company in the United Arab Emirates
You register your company in the UAE with the Registrar of Companies (ROC). The time requires and registration process varies depending on the type of business entity you want to operate in the United Arab Emirates.
Types of Business Entities in the United Arab Emirates
Here are the types of companies in the UAE that you can open:
- A Sole Proprietorship
- Partnership Company
- General Partnership
- Limited Partnership
- Limited Company
- Company Limited By Shares (LTD)
- Limited Liability Company (LLC)
- Branch Office
You will be very glad to know that the minimum paid-up capital is minimal in all of these companies. You will not need to pay more than USD 1. Anyway, most of these companies require at least 51% of the local shareholding, and some might even need 100% local ownership. Thus, you will need to do a little research before you decide on the company type. You can contact 3E Accounting directly to know more about it.
The Process of Registering a Company in UAE
- Decide on a company name. The name should best describe the business and it should not be vulgar. You will need to get approval from the Department of Economic Development (DED) of UAE.
- Provide information about your sponsor. Well, it might be your business. But, the sponsor, in this context means a local business partner in the United Arab Emirates.
- Decide on the business premises. You will need a registered address for your business, and you should work with your sponsor regarding this.
- Prepare the Memorandum of Association (MOA).
- Know the types of business licenses you will need submit an application to DED, along with the Memorandum of Association you prepared in the above step.
Starting a business is a great idea if you have an ample business plan. The country is an important region in the Middle East and offers world-class infrastructure. The economic structure has been designed primarily to support business, and you can see it in almost no personal and corporate taxes. However, you will need to get a permit to run a business in the country. And it could be hard-earned, as only those with a great viable business idea are allowed to benefit from the economic possibilities in the UAE.
Looking forward to a United Arab Emirate Company Registration? Contact us to register a company in the United Arab Emirates in minimal time and cost.