UNITED ARAB EMIRATES

REGISTRATION OF BUSINESS (COMPANY) IN UAE

So, registering a business in the UAE is quite a profitable solution in case of business relocation. The presence of free zones with favorable conditions for business, so companies registered in such zones are exempt from paying taxes.

Therefore, it is important to answer the following questions:

• What is the cost of opening a company in Dubai or Abu Dhabi?
• What is the best organizational and legal form of entrepreneurial activity?

Is it possible to register a company online?

Yes, UAE provides investors with many benefits of online company registration in Dubai. Many free zones do not require the physical presence of a shareholder to register a company. Professionals will help in the complete process of company registration in the UAE. The team will assist investors in solving various administrative tasks. This includes preparing the application form, choosing the right business license and activities, etc. We also provide services for obtaining special permits, submitting documents to the bodies of the free economic zone, etc.

What are the stages of company registration in the UAE?

• Choosing an organizational and legal form (we recommend LLC)
• Choosing a name, the name must be unique and not repeated with others
• Preparation of founding documents (statute, decision, founding agreement)
• Notarization of these documents
• Contribution of authorized capital – at least 50,000 dirhams, but it can be more, it depends on the chosen emirate and the type of activity you plan to engage in
• Submission of a package of documents to the Department of Economic Development
• Obtaining a value added tax payer number
• Applications for obtaining additional permits

Documents required for company registration in the UAE:

• Information about each of the founders
• Documents certifying the identity of each of the founders
• A completed application for establishment
• Information about the company itself (organizational and legal form, branch or independent structural unit)

Opening a bank account in the UAE: procedure and benefits for Ukrainians

The UAE is in demand among entrepreneurs, this is due to certain circumstances, including preferential tax rates for companies, resistance to financial and political crises, the presence of its own currency that does not depend on others. However, accounts can be opened in other currencies. The advantages include the presence of online banking, which is quite important now, and the absence of any currency restrictions. In addition, the simplicity of banking account maintenance.

Opening an account in the UAE bank provides the following opportunities:

• Internet banking
• A wide system of local banks and branches of foreign banks
• Confidentiality of transactions
• Low cost of servicing accounts
• Absence of any currency restrictions
• Absence of limits on input and withdrawal of funds

What documents are required to open an account in UAE banks:

• Documents for opening a personal account:

1. A copy of the person’s passport (must have a UAE border crossing mark)
2. Current account statement, if the person already has an open account
3. Completed application form issued by the bank
4. A certified power of attorney if the actions are performed by a representative

• Documents for opening a corporate account:

1. Documents on the registration of the company (in addition, documents related to the activities of such a company, what it does, the main areas of activity, founding documents, proof of the reality of doing business may be required)
2. Evidence of a place of business – submission of a utility bill (for the last 3 months)
3. Certified power of attorney, if documents are submitted by a representative
4. A certified copy of the company owner’s passport
5. Completed application form issued by the bank

Opening and maintaining an account in the UAE bank is one of the main activities of our lawyers and economists. Sign up for a consultation and see for yourself the professionalism.

OBTAIN A PERMANENT RESIDENCE PERMIT IN THE UAE

Quite often, individuals plan to stay on the territory of the state, and the first step is to obtain a permanent residence permit in the UAE.

The grounds for obtaining a permit (permit) for permanent residence in the UAE are as follows:

Obtaining an investment visa – a visa is granted for a period of 10 years, the main reason for granting such a visa is large-scale investment.

There are two reasons for an investment visa:

• Investors

If you want to qualify as an investor, you must invest at least AED 10 million (approx. £2,047,915.25) while maintaining your solvency of at least this amount, not investing in the form of a loan, and holding that investment for less than three years

• People with special talents

Another available option is to qualify as a person with special talents. These may include inventors who hold patents that benefit the Emirati economy with the appropriate stamp from the Ministry of Economy. They can also be creative workers in the field of culture and art, scientists and doctors from leading research institutes, if they have validating praise from influential journals or recognized accreditations from government ministries and professionals. These individuals must have an employment contract in the UAE in an industry that has priority on the national agenda.

Migration lawyer in the UAE – Prykhodko and Partners, your reliable partner.