From New York to London, from Frankfurt to Hong Kong, businesses today are looking to gain the competitive edge to diversify their presence
From closely held family businesses to multinationals, from individual investors to leading brands, research indicates that more and more companies want to establish their presence in Dubai..
Untoward and not so favorable experience backed with loss in emerging nations have prompted investors and businesses to seek insurance against political, social and economic risks in such nations.
The ensuing paragraph differentiates between different forms of company vehicles available for registration in Dubai and United Arab Emirates.
LLC form of company, branch, freezone company, etc are some of the options available for incorporating or forming a company in Dubai and/or the United Arab Emirates.
Post independence and prior to coming up of the Federal companies law, each state within the United Arab Emirates adopted its own independent procedures for company incorporations in Dubai. Accordingly, company formations in Abu Dhabi or forming a LLC in UAE were under individual state controls. In 1984, the United Arab Emirates enacted the United Arab Emirates' Commercial Companies Law (Federal law number 8 of 1984, as amended subsequently by the Federal law number 13 of 1988). Consequently, the Companies Law provided for different forms of entity available to register for domestic and foreign investors. There are free zones in Dubai and throughout the United Arab Emirates that allows expatriates, investors and companies to incorporate a freezone company and own one hundred percent (100%) ownership in such free zone companies. The Companies Law provides however that a limited liability company whose liability is limited to the sharecapital must have a local UAE partner who will hold minimum fifty one percent shares in such company
Freezone incorporation in Dubai or Northern Emirates is mainly beneficial for traders and industries that are engaged in re-exports of goods as freezone besides offering 100% ownership exempts imports and export duties as well. There are many freezones in Northern Emirates such as Sharjah Airport Free Zone (SAIF), Hamriyah Free Zone, Ajman Free Zone, Ras Al Khaimah Free Trade Zone, Fujairah Free Zone, etc.
If you are considering company formation in UAE you should obtain a opinion Dubai Lawyers.
Sunil Thacker’s Dubai Law Firm advices world’s leading multinationals and corporates on complex formation and shareholding structures, provide escrow services and international tax advisory.
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