Establishing Company in UAE

         It is the dream of every entrepreneur to establish and flourish their business and generate profit. This is the basic wish of anyone who is into business line. Establishing business as such is not an easy procedure, especially when it is abroad. Huge populations of Indians reside in Middle-East. United Arab Emirates (UAE) is a federation of seven Emirates. Though UAE does not provide NRI’s with citizenship, they are given the right to stay for long years. Incorporating business in UAE is  favorable for entrepreneurs as it stimulates growth in short time at the same time there are procedures, which should be dealt with utmost care else you may step into trouble.

Think, Consult, Plan and then Implement!

      “Look Before You Leap”. Never act without considering possible consequences on your way before you set up a business in any part of the world. UAE Company formation has its own cons and pros, which should be handled properly.

    Company formation in United Arab Emirates is controlled and coordinated by Department of Economic Development and Dubai Chamber of Commerce & Industry. For starting any kind of business you must apply and obtain a license mentioning the purpose from concerned departments. Trade, Professional and Engineering Licenses are the major kind of licenses issued. We must meet the eligibilities like experience, qualification, capital, business nature etc to get the license. One should get clearance from Concerned Municipality, Ministry of Finance & Industry, Department of Economic Development, Industrial Register at the Ministry of Finance & Industry and also organize the factory site for your business. Once you are ready with all these legal formalities, you must seek help from financial consultancies or financial advisors in order to manage your ideas and capital in an effective manner.

UAE Company formation in a nutshell.

• ·        Execute your ideas.
  ·       Thoroughly study the business you tend to start.
  ·       Analyze the scope and place of it in both local and world market.
  ·       Know the level of competition and be prepared.
  ·       Apply for  needed licenses.
  ·       Adopt pertinent legal structure for your business.
  ·       Correlate with concerned authorities and get approval.
  ·       Find an appropriate place for starting your business.
  ·       Gather the basic things such as raw materials, labors, visas etc.
  ·       Set up personal requirements as per need.
   

Offshore Company Formation

         Prime focus of offshore company is to promote international business and avail beneficial tax regulations. Offshore company regulates higher yields and returns. Offshore companies are mainly used for trading, investment, ship management, holding, financing etc. UAE offshore incorporation helps you to run business in the Middle East in the most profitable way. For offshore incorporation in UAE, you need services for operating business, hire local employees, sign agreements, rent office space, sell goods and company services, draft contracts and offer investments, taxation and banking assistance.

Dubai Free Zones

       There are around 20 entrenched free zones in Dubai. Free zones are also known as trade zones. Main purpose of these zones is to promote International business establishments providing better options for entrepreneurs.

Free Zone Company Benefits:

• ·       100% foreign takeover
• ·       100% recovery of profit and investment
• ·       Collective and personal income tax exemption
• ·       No restriction on currencies
• ·       Abundant supply of energy
• ·       Excellent support and services from local authorities

Handle your keys to safer hands

       Though the procedures seem easy for UAE company formation, it really isn’t. We must seek the help of an approved consultancy especially when you are a beginner because they know the rules much better. Make sure you are into safer hands and never get swindled by unauthorized consultancies. Topmost advisory firms in UAE like Morison Menon Group is one among the trust worthy and well known consultancies. They provide with one-stop solutions for their clients. They provide multi-services like Investment & Incorporation Services, Assurance Services, Financial & Business Advisory, Performance & Risk Advisory, IT Consulting & IT Products, Property Consulting, and Compliance & Consulting Services for companies in Dubai. Morison group is spread over Dubai,  Abu Dhabi, Sharjah, Jabel Ali, and Ras Al Khaimah.

Company Formation in Abu Dhabi

      Abu Dhabi is the largest and wealthiest of the seven Emirates in UAE. Company Formation in Abu Dhabi is a perfect way to gain profit without paying local corporation tax. Company Formation in Abu Dhabi needs no capital requirements. It is experiencing rapid growth, hair-raising diversification and vital liberalization of the economy. UAE is one among the best place in globe to initiate business and come out with flying colors.

Competition exists in all fields and the basic fact is only “THE FITTEST SURVIVE”. Fly high and conquer the sky!! 

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Morison Menon Middle East Headquarters Inauguration

                 The new office of Morison Menon was inaugurated on September 15^th, 2014 jointly by His Excellency Mr. Sami Al Qamzi, Director General of the Department of Economic Development and His Excellency T.P. Seetharam- Ambassador of India to Dubai. Also present at the event were several distinguished personalities from the business world. The group’s Managing Partner and Chairman Mr.Raju Menon and the CEO Mr. Khalid Shams watched proudly as the who’s who of the Dubai corporate and business world admired the elegant and plush office.

              After nearly two decades since entering the professional advisory field, Morison Menon moved their office to the prestigious Lake Central Tower, Business Bay on Al Abraj Street. Within a short period of existence, the group has emerged as one of the leading Accounting and Professional Advisory firms in not just Dubai, but in the whole of UAE. With dedicated offices in the UAE and other Gulf countries, and expert team of professionals to serve the needs of the business community, the Morison Menon group has proved their mettle in this field.

         The services offered by Morison Menon include Chartered Accountant services, Audit & Assurance, Business Consulting, Property Consultancy, IT Consultancy, and Offshore company formation assistance. 

 

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Benefits of offshore company formation in Dubai and UAE

                          Registering an offshore company is among the most prevalent methods of managing businesses in today’s world. The reasons for this are many. The countries that encourage businesses to set up offshore companies are usually tax havens, and the regulations with regards to operations and other aspects of running the business are not as strict as in other places. Setting up a Dubaioffshore company is very easy and convenient for both Asian and European businesses, thanks to its central location. Businesses from around the world also prefer setting up a UAE offshorecompany as among the gulf countries, it is cosmopolitan and liberal both socially and business wise. The UAE is an independent territory and is white listed, and there are Double Taxation Avoidance Agreements in place between the UAE and over 40 other countries.                  One may think that setting up an offshore company involves more expenditure but nothing could be further from the truth. UAE offshore companies, particularly Dubai offshore companies result in huge savings for businesses. Let us see how this is possible:

·          Cost of setting up companies in the UAE are much lesser than in other parts of the world·         Companies can be set up with just a small amount as capital
·          It is possible to set up a company with just a single Director and/or shareholder·           The UAE permits 100% foreign ownership
·           The company need not have a UAE national as a sponsor or shareholder
·            Business can be carried out with total privacy and anonymity
·             A public register of company officers is not maintained in the UAE
·            It is possible for the company to own property in localities approved by the administration
·           It is permissible to have multicurrency accounts
·           No corporate or income taxes are levied on the company
·             Restrictions on foreign currency are practically non-existent
·           The profits as well as the capital can be fully repatriated to the home country.
·            Overheads are negligible as there is no necessity of maintaining an onshore office. Hence                    staffing  and related costs are nearly zero.
·           The company can be liquidated at any time
·           Renewal charges are very low

               So from these above points it is very clear that setting up a Dubai offshore company helps businesses save money, time and effort. The management can streamline operations and focus on the core business.  However it should be borne in mind that to establish a UAE offshore company, it is necessary to apply for and obtain certain licences. There are various licences that the company may need depending on whether it is a free zone company or an off shore company, whether it intends to do any actual business there, and so on.
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