Companies and entrepreneurs interested in business persons for overseas, generally look at UAE as one of the preferred destinations. Various factors contribute to this decision. The number of reasons that are available in the UAE, the tax-free regime, the options of fund repatriation back to the country of origin, the ease of doing business, and the quick business setup is some of the standard advantages available for companies. It is, however, necessary to use the services of professional business consultants in UAE to leverage the benefits of the strategic location, open economy and infrastructure for greater business benefits. Here is a look at all that you need to know about company setup and the need for choosing professional service providers.
Select company type as per the nature of the business
For the purpose of classification of different business entities, there are 9 different types of companies that can be established in the UAE. The different types of companies include – joint liability company, private joint stock company, branch of a local or GCC company, limited liability company (LLC), civil company, branch of a foreign company, sole establishment, public joint stock company, and branch of a free zone company. It is important that entrepreneurs choose a company type as per the nature of the business and the regulations governing the business.
Ownership and shareholding pattern of companies
There are different requirements in terms of ownership and shareholding pattern of different business entities. For instance, there is a need for business entities to have a local sponsor as a 51% shareholder. Companies that are involved in activities such as engineering need to have a UAE national as a partner – LLC companies, public joint stock companies, and civil companies. It is, therefore, necessary to understand the different types of companies, the shareholding patterns, and the regulations governing business setup. By relying on the services of reputed business consultants in UAE, it is possible to understand the requirements and fulfill the same accordingly.
Assistance in understanding the capital requirements
Many businesses fail to understand the actual capital requirements necessary for establishing a presence in the UAE. Professional business consultants in UAE with expertise and exposure to different domains will be in a better position to assist entrepreneurs in understanding the capital requirements. Depending on the type of the company and the nature of the business, the capital requirements will differ. Service providers who have dealt with all types of companies can help up with this assessment, helping business entities and entrepreneurs to be better prepared for handling company formation requirements.
Arab Business Consultant have a reputation as one among the most reliable business consultants in UAE. This reputation stems from our proven track record and experience in providing turnkey solutions for clients. Our services straddle the entire life cycle of the establishment of a business. We help clients meet all requirements and regulatory compliances, in the fastest possible time and in the most cost-effective manner.
