Choosing the right company type is always a challenging part for investors.
UAE has three types of companies:
Mainland
Free Zone Onshore
Free Zone Offshore.
Each of the types has a different setup procedures, time frames, and objectives to achieve.
Know your business before choosing the company type.
If your answer is yes for the following questions then you should select Mainland Company.
1. Is your Company going to sale products & Services in UAE?
2. Do you need an office in the main areas of UAE?
3. Do you have any intension to make government contracts?
4. Are you dealing with UAE local as well as international Clients?
5. Do you need easy approval for bank account and immigration?
6. Do you need business freedom?
If the answer is yes for the following questions then you should select Free Zone Onshore
1. Is your company going to sale products & Services Internationally?
2. Is your company is dealing with free zone client?
3. Is your company has less focus on UAE mainland?
4. Is your company trading port to port? For trading company
5. Do you need 100% ownership?
6. Do you need easy paperwork for company formation?
7. Physical office is not required in the mainland area?
8. Do you want to operate virtually?
9. Do you want to setup company without a local sponsor?
If your answer is yes then you should select offshore.
1. Do you need a banking facility in the UAE?
2. Is physical office least important for you?
3. Do you need a company and bank account without office and visa?
4. Do you want to hold companies located in a different part of the world?
5. Are you not going to use UAE Port?
6. Do you want to hold freehold properties in UAE?
7. Do you want to save taxes on corporate incomes?
8. Are you a having business making good turnover?
We always recommend consulting with our experts and lawyers to get more clarity on the type of company.
Choosing a right type of license is simple but sometimes if you are in multiple businesses or you wish to expand your operation in the future under same name and company, this is where you should be careful choosing the right type of license in the beginning.
There is one simple formula for choosing the right license, where you can select license as per your activity such as a commercial trading license for trading activity, general trading license for multiple trading license, Cars, Gold & Diamond trading activities does not come under general trading license.
Consultancies such as marketing consultancy, management consultancy and other professional consultancy are not tricky but if you are into health care, tourism, Media, Education or aviation etc. then you should not forget to take third party approvals or you can consult with our experts and they will advise you the easiest way.
Manufacturing license is not easy as other activities because of unique requirements of warehouse size, electricity, water and other utility requirements. The United Arab Emirates has many free zone areas as well as mainland industrial area to facilitate this activity. That’s why there are many crucial points to understand before you take this license, For Example; if manufacturing is for the purpose of export, we should get a license from an industrial area close to the port or airport, at the same time, don’t forget to know the right port for import and export of raw material, maybe your supplier is not using that port which causes you extra trucking time and expense.
We always recommend consulting with our expert to get more clarity.
Most of the new start-up, International companies, investors experimenting in the UAE market and many other types of companies seeking company without office space.
UAE Department of Economic Development and many free zone authorities have introduced virtual office and sustainable contract to setup and renewal your companies without office space. However, this option is only for small companies or companies with less staff working in UAE.
GRG business Center is authorized by Dubai DED to issue sustainable contracts to mainland companies. GRG business Center has many other facilities like call answering services, Mail handling services, P.O.Box, Meeting room services, Co-Working space and physical offices for companies operating in the United Arab Emirates.
We always recommend consulting with our expert to get more clarity.
Banking in UAE is well-known in the world, Simple and easiest banking system has been introduced by UAE local banks. UAE Banking provides a vital role to develop financial system and economic growth within UAE.
UAE banking sector provides Dynamic banking services to individuals, SME & large industries, the fastest Online banking system with many other creative services made banking unique in UAE.
How to get a cooperate account:
Bank account In UAE is not difficult if you fulfil the following criteria:
1. Setting up a company is the first setup to open cooperate bank account in UAE.
2. Owner of the company must have a source of income or funds.
3. Profile of the owner must be matching with the activity on the license.
4. Owner of the company must be available in the UAE to sign the bank account opening application.
5. Owner of the company must take a UAE residency visa. If they’re more than one shareholders then at least one should have UAE residency visa.
6. Additional documents are required if the owner is a politically exposed person.
7. Owner of the company should not belong to the sanction countries.
We always recommend consulting with our expert to get more clarity.
Yellow Pelican Liquid Insights LLC are in our third year with Global Resources Group and hope to continue for many years to come. Their service from day first has been very personal & prompt, vital to a small start-up company such as ours. Their advice on a variety of business-related matters has been invaluable in saving time and, more importantly, money. In fact their advice in the first year basically paid for our registration & we would recommend their services to anyone looking to start-up in the UAE.
From day one Global Resources offered all the tools we needed to establish our business in the UAE. Global Resources is an unbelievably helpful business advisory service firm and provides every contact and information a client may possibly need. After a short time, members of the Global Resources team became our friends. They continuously provided a service beyond what most companies would do for their clients. They were honest and trustworthy in every aspect. The culture of Global Resources is great and everyone we worked with was amazing.
I incorporate my UAE entity EECS with GRG Corporate Services in an excellent way. GRG staff is the most excellent staff in the UAE. They have treated my company incorporation process, bank account opening process, and all other immigration & renewal work within the timeline. Now GRG is my only option in the future for corporate professional services and staff of GRG has become a friend of mine and I am happy that I got such friends.
