UAE has been a top destination for international companies to expand their business in. The government have strongly supported the growth of a very diverse market with protective regulations and attractive laws such as the ‘no corporate and income tax’. Many companies, local and international, are enjoying these benefits.
Although the process for business incorporation is clear, it can be hard to keep up the tough paperwork. This is especially for international businesses without a base yet in the country.
Normally, the procedure for Business Incorporation goes from:
- Choosing most appropriate legal structure of the business
- Choosing location of the proposed venture
- Keeping up with paper works
- Preparing the business plan
- Preparing and compiling the required documentation for registration of the entity
- Co-ordination with the relevant regulatory & Government authorities for approvals
- Obtaining the property for operations – office, warehouse, flexi-desk
- Obtaining Trade License, Certificate of Incorporation, Memorandum of Association, Share Certificates, Tenancy Agreement
- Processing visas, labour cards and other statutory documents
- Recruitment of personnel required for the new business
These long trail of paperworks include a back and forth of translation, attestation, and submissions is proper legal forms. This area is where many investors and businesses face a difficulty. Without being in the country, it s hectic to follow up and many companies end up having a longer processing time and higher costs if not done properly.
The wisest step for many is to have the guidance and support of expert business consultants who know the ins and outs of the process. In SDAC Consulting, we provide end-to-end quality assistance to international companies who are setting up their company, branches/subsidiaries in the GCC. For 10 years, we’ve assisted companies from their research through to start of their operations.