Connect with us

Business

5 Steps On How To Set Up A Business In Dubai

Dubai is an attractive destination for overseas investors. A tax haven, the offshore companies which are registered in this city aren’t subject to taxation on profits and personal income. As a result, a massive tax bill will never be issued and staff can keep all of their income, such as salary or a dividend payout. Setting up a business in Dubai needn’t be difficult or time consuming and here’s how:

 5 Steps On How To Set Up A Business In Dubai

Appoint a Director and a Secretary

A board of directors doesn’t have to contain multiple individuals because only one director is required at an offshore company. Along with a solitary director, a secretary also has to be appointed. There are no restrictions on what nationality a director and secretary can have. Even if numerous directors or secretaries are appointed, they can hold any nationality. In fact, a director and a secretary can live on opposite sides of the world.

Find a Local Sponsor

In order for an offshore site in Dubai to exist, 51% of it must be owned by someone that originates from the United Arab Emirates (UAE). Otherwise known as a sponsor, an offshore site cannot exist without this individual. A sponsor is knowledgeable about the legal system in Dubai and can answer any questions which an organisation has. Paid a small fee on an annual basis, a sponsor is a vital member of an offshore company and one should be found that works alongside other overseas investors.

Decide on the Form of Law

Unlike what happens in other tax havens, the law which governs an offshore site in Dubai is chosen according to what its owners want. An offshore company can be governed by Civil Law, Common Law, Hindu Succession Law and Sharia Law. The type of law which is finally chosen is stated in the Memorandum of Association and Articles of Association. When a dispute is raised, an offshore company will know which law to follow and there won’t be any confusion whatsoever.

Allocate Shares

The minimum Share Capital for a Dubai offshore company is AED 1,000. Equivalent to £170 or $272, this figure can be issued to one person. If an offshore company wants to have a higher Share Capital than this figure, it is allowed to do so. Share Capital should be calculated long before the incorporation process begins so that there are no delays before it becomes a legal entity.

If Required, find Premises

An offshore company is allowed to own premises not just in Dubai but the UAE (United Arab Emirates). If an offshore company will hire employees that are from the country which their head office is in, they can work in premises which are in the centre of Dubai. By asking for help from a real estate agent regarding finding corporate premises, a suitable place can be tracked down. Consequently, after setting up a business in Dubai, staff can begin working in the premises which an offshore company now owns.

If you are interested in setting up business in Dubai or any other offshore jurisdiction then visit http://dubai.offshoreformations247.com. They are a global offshore company provider offering assistance to those interested in setting up offshore. Click here for more details.

Continue Reading

Recent Posts

Business4 days ago

Business Tips For Protecting Your Finances During A Recession

In 2024, taking the necessary steps to protect your finances for your business is now more important than ever. The...

Green & Energy2 weeks ago

Air Conditioning Installation: What You Need to Know

When it comes to getting an air conditioning unit installed, can significantly improve your comfort and home environment, especially during...

Marketing3 weeks ago

Marketing Tips For A Gym Wear Brand

When starting a gym wear brand, there are a few things you need to do and one of them is...

General1 month ago

Social Media Marketing: What Are All The Types?

Social media marketing is a tool that is a must-have in today’s digital age. it’s very rare that businesses can...

Business1 month ago

How To Become A Property Developer

There are several reasons why an individual will want to become a property developer. One of the main reasons for...

Business2 months ago

Remote Delivery Innovations: Case Studies from Leading E-commerce Brands

People have gone through much change in the past few years when it comes to online shopping. Nowadays, when delivery...

Business2 months ago

Why are Brits turning to online-only banks?

For years, large, conventional banks held all the aces when it comes to citizens’ finances in the UK. HSBC, Lloyds...

5 Important Web Design Considerations to Make For Better SEO 5 Important Web Design Considerations to Make For Better SEO
Tech3 months ago

5 Important Web Design Considerations to Make For Better SEO

Ever since the birth of search engines, practices in optimising websites for better search rankings have changed considerably. Where it...

SEO3 months ago

The Importance of Local SEO for Small Businesses

There are many different types of businesses and all of them will require online marketing however, with a small business,...

General3 months ago

Understanding The Unsung Heroes: Cool Rooms And The Importance Of Regular Repairs

Everybody loves a breath of fresh air when entering a superstore! But have you ever wondered who’s working backstage to...

Home Improvement7 months ago

How To Add More Value To Your Home

If you have some spare cash in the bank, it is likely you would like to spend it on your...

Lifestyle7 months ago

What is a Deep Plane Facelift

Cosmetic surgery is a choice that needs a lot of research and when it comes to thinking about a facelift...

Entrepreneur7 months ago

Unveiling the Demand for Digital Marketing Courses: A Comprehensive Analysis

In recent years, the realm of marketing has undergone a seismic shift propelled by the digital revolution. As businesses increasingly...

Home Improvement7 months ago

What Does an Effective Wardrobe Spring Clean Entail?

Spring is upon us which means one thing and one thing only. It is time for the annual purge of...

Business9 months ago

Your Basic Guide To Creating A Unique Investment Blog

Starting your own blog is great and once you get the ball rolling, it can be a good passive income...

Categories

Archives

Trending