Main Types of Ownership in the UAE
It is rather prestigious to set up a company in the UAE since it is regarded as a modern center of world economy and trade. It provides the most beneficial conditions and policies to attract foreign business owners.
It is rather prestigious to set up a company in the UAE since it is regarded as a modern center of world economy and trade. It provides the most beneficial conditions and policies to attract foreign business owners. As a result, they have a wide range of options to choose from for a new company formation in the UAE. For instance, they can set up a firm involving a local investor, use the advantages of free zones or register offshore company in Dubai. All the represented types of ownership have their specific features and rules which should be taken into account while setting up a company.
Peculiarities of Free Zones in the UAE
The UAE accounts for more than 30 different free zones, each of them having its own characteristics. It means that every zone is more suitable for a certain type of business. Therefore, before setting up any institution, make sure you select the right location for it.
DMCC registration provides new companies with an opportunity of working exclusively based on foreign capital without any involvement of local investors. In addition, the DMCC directory does not require foreign business owners to pay taxes or collect a pile of documents. According to the DMCC rules, all set-up companies can be divided into three types:
- Commercial companies (those which are connected with trade);
- Professional companies (those which are created for executing some custom works or other services);
- Production companies (those which are directly connected with production and manufacturing).
- Setting up a company in the DMCC free zone provides business owners with an opportunity of getting a residence permit.
Offshore Companies Formation in the UAE
In case all operations of the company are conducted in other countries, you can benefit from setting up an offshore firm in the UAE. Such a company is absolutely legal but its activity in the UAE is prohibited. This type of company has a lot of advantages:
- The absolute ownership without local investments;
- No income taxes;
- Income withdrawal without any limits;
- No annual audits and reports;
- Comparatively low cost of registration;
- Reasonable prices for bank transactions;
- Ultimate confidentiality.
The whole registration process can be conducted within one working day, especially if you apply to a special service for assistance.