A company is a type of business consisting of several living people and/or other companies. Thus each of these people are contributes money to the company and thus became the owner of the company. Individuals or business owners have a common goal or goal of doing business and profiting from it. The difference between a company and other business agreements is that the company itself is seen as a separate legal entity. Therefore, a company is legally separate or unique from its owners. Also proves that the company still exists and operates regardless of changes in ownership. It is a very formal process to start a business in Dubai because of the requirements one has to meet before actually setting up a business in Dubai. There are seven types of companies that are allowed to be incorporated in Dubai.
This includes limited liability companies; Public companies; private joint-stock companies; general partnerships or companies with joint and several responsibilities; a simple limited liability company, also called a limited liability company; private limited liability company and public limited liability company. Some of these companies require the involvement of a UAE nationalist in starting a business. Several people are also selected, whether they are the owners themselves or hired outsiders who are in charge of running the business and making day-to-day and long-term business decisions. In other words, they are the agents of the business owner who are hired to achieve the goals and objectives of the owner which is to make as much profit as possible for the business owner. These people are known as senior management.
Companies Subjected to Federal Laws
All companies in the UAE are regulates by federal company law. The law contains several provisions and articles such as the rule that limited liability companies must own at least 51% shares in companies owned by UAE nationalists. The UAE Companies Act also states that a company must have at least 2 shareholders. In addition, the company must have at least 1 director, but there is no nationality limit to manage the company. Therefore, companies based in the Dubai Free Zone must comply with the laws set out in the above-mentioned laws.
Starting Business in Free Zones
There are several companies in the United Arab Emirates Free Trade Zone in Dubai that offer you the option of starting a business. These areas allow the creation of companies bases solely on foreign investment, so it can be says that these areas were creates to provide opportunities for foreign investors to enter the Dubai market. However, business in the free zone is limit to certain types of transactions that can be carries out if operating in a zone other than the free zone.
People who want to start or set up a business in Dubai can also get help from agents or other support facilities in the city. These agents can guide clients through the company formation process or even perform the required Dubai company formation procedures for their clients at a reasonable cost. Foreigners can get great help from this authority as per the UAE Business Laws.
Why Investors Need to Start Business in Dubai
Starting a business abroad is very broad, especially in the UAE. All kinds of investors are ready to start investing abroad. Whether you are a large, medium or small investor, you have faced the challenges of setting up a company overseas. Overseas business establishment bodies have become important contributors to all types of overseas investors. They have a team of experts who have good knowledge of working with foreign companies. These agencies help people through their various start-up services.
Services by Professional Company Formation Agencies
Below is the list of major services of company formation agencies gives to entrepreneurs and foreign investors.
Foreign investment must be register. The initial phase takes time. You can take on the responsibility of your agent to set up a foreign company. Helping you register your company for investment in the overseas destination you have chosen.
It is very difficult to trust someone as a candidate for your company. Many of you want a trustworthy nominee. An offshore outsourcer can help you get a reliable nomination service. Company registration can be did on behalf of the candidate, but the real power of your company is in your hands. This sounds interesting and amazing for entrepreneurs.
It is difficult to contact a lawyer abroad. There are certain types of business dealings where the help of a lawyer is obvious. The agency offers you high-quality legal services.
With the help of these agencies, various types of outsourcing of office work are possible. They specialize in supporting office documents and accounting. Your various office supports will help you set up your international organization in no time.
It took a long time to set up an overseas office. Immediately after registering a company, you cannot spend a lot of time setting up the office. That is why it is always highly recommend to seek help from these institutions. They can offer a ready-made office or they can help you quickly set up your office in a foreign destination. Ready-made offices packages help start an international business quickly.