It is not without reason that UAE is regarded as one of the most sought after destinations for establishing princess presence. High on the list of the advantages are the tax-free receive, and the investor-friendly climate in the location. The availability of resources and the ease with which businesses can quickly set up their presence makes the UAE one of the most preferred destination. Business setup in UAE free zones involves certain formalities and regulations. By using the right kind of service provider or export consultant it is possible for a business to quickly conclude the formalities and comments operations. Here is all that you need to know no about the formalities.
Important tips for business setup in UAE free zones
Every business that intends to establish a presence in the UAE needs to enlist the services of a local sponsor. This is regardless of the location of the business in the UAE. A local sponsor is one who will have 51% control over the shares. The remaining 49% will be retained by other shareholders of the business entity. The local sponsor will receive a percentage of the share of the profits or will be paid remuneration as per mutually agreed terms among all the shareholders. In return the local sponsor will divest all functional responsibilities, leaving the other shareholders to handle the day to day business.
All businesses need to identify a suitable free zone for establishing a presence. Business setup in UAE free zones offers entities multiple benefits that include greater control over ownership, and tax breaks. There are a total of 37 different free zones in the UAE, and businesses need to identify the most suitable free zone. Every zone as a special focus on certain business activities and companies need to choose the zones accordingly.
The location of the business is of great importance. This is because of the fact that various aspects need to be considered. For instance, depending on the nature of the business, it may be necessary for a business to be close to a port. Similarly, it may be necessary for a business to be as close as possible to targeted markets. The organization will also require access to resources, it is therefore important to choose the location accordingly. A business that establishes a presence in a location needs to ensure that the atmosphere is conducive for the business operations. In other words, the infrastructure requirements, communication facilities, extent office space, storage requirements and the terms of the tenancy contract are all important factors that determine the atmosphere for operations.
Employees are one of the most important contributed to the success of any organization. It is, therefore, necessary for a business to identify and recruit experience personal to fill in various vacancies. It is important to note that the number of visas that can be issued for a company depends on the nature of the business of the company and the office space occupied. With multiple cases of human trafficking of being reported in the media, the concerned authorities also take into consideration the reputation of the employer or the investors behind the organization.
