Dubai is a highly competitive landscape, with many businesses competing to find their own niche and establish themselves as the premier name in their respective target markets. In order to make a name for yourself, the first and foremost concern is to make sure that you have a solid foundation to build upon. Make sure you have solid building blocks for your success. Entrust your Dubai business setup to the hands of experts – so be the partner with Xtreme Solutions today.
BUSINESS SETUP IN DUBAI
The economy of UAE is dividing between the onshore and offshore sector. Onshore is for local business, and offshore sector includes numbers of Free Zones. Xtreme Solutions is a professional consulting company in Dubai and we provide services of business set up in Dubai – in both free zones and in mainland sectors. Business setup in Dubai is the best choice to start a business because the government is encouraging SME, which could operate in UAE effectively.
Xtreme Solutions Consultant guides our customers to select the feasible location for setting up a business. Our consultants are highly experienced and will also provide a cost-effective solution for all type of problems. We deliver services on time, and also keeping the highest professional standards as well.
Looking for a Business Setup in UAE
Nowadays, a lot of foreign investors are looking for a Business Setup in UAE. i.e, to start their own company in the free zone or on the mainland. Most of the overseas companies are looking to set up either branch or representative office in UAE. Business Setup in UAE is a dream for almost all of the entrepreneurs in the world. However, Business setup in UAE is a very challenging task; because the growing economy of Emirates is attracting a lot of competitors in the market. Setting up a business in UAE, one should care for all the following factors.
- Knowledge of the Product/Services
- Knowledge of the Target market
- Selection of the suitable jurisdiction
- Your input-output channel
- Initial expenses
- Selection of local Partner (for mainland business)
Considering all these factors, it is difficult for an expatriate to do it by self. We do have professional people, who can take care of all these aspects and help you to build your dream company. Furthermore, we have done it for thousands of time and our experience will help you to finish your work in limited time.
Selection of the location for business setup Dubai
There are three main options for business setup in Dubai; Mainland business setup, offshore business setup and also free zone business setup. If we slender the selections for an entrepreneur; then he has to track one of these directions, i.e, setup of a normal business (Mainland) in any place with the support of the local sponsor. As per UAE rules, the Local sponsor will get 51% of shares in the business and on the other hand, the expat will hold 49% of the share.
The second option is free zone business setup in Dubai. In free zone business setup, Owner can have 100% of share and local sponsor is not at all required, unlike mainland business. But in this option, the company are not allowed to do business in a local market directly. If a person does not want any local trade and only want to protect their assets, then there is a third option, called offshore business.
Role of business setup consultants in Dubai
New business set up in Dubai is really a big deal and a big responsibility, which requires knowledge and also well understanding about the marketplace. In this case, we must have knowledge and understanding of UAE business law, competition in the market and kinds of business structure and activities perform in UAE. The first thing to remember is – if you are not sure about these points; especially about the structure and activities; then you need the help of business setup consultants in Dubai.
These days, there are different types of business setups. Also, every business has its own pros and cons; so, for this reason, is really important for the investor; to have a better understanding of the particular business. Hence we, business consultants offer business consultancy services to our clients. Being in Dubai in a long time and in the same industry, we can really make it easy for you.
Advantages of business consultants in Dubai
Following are the main advantages of selecting best business consultants in Dubai;
- Help in defining the target market.
- They can effectively enhance your business growth.
- Business setup consultants in Dubai can help in research & analysis
- Business set up consultants in Dubai can help you in decision-making
- Save your money; also time through business consultants in UAE.
- Business setup consultants in Dubai can speed up the process
Based on our experience in the market; we can definitely help you to make your business grow; and also we can find you the right solution for your business, in fact in all matters regarding your business setup in Dubai. Xtreme Solutions has a great reputation for one thing; that is transparency. We are always there for the client; whenever they need our professional service.
What are the main options for business setup in Dubai?
There are two main physical options for business setup in Dubai.
The biggest difference in both the option of business setup in Dubai; is the ownership rules. If you choose the option of business setup in Dubai mainland; then you have to add a local partner in your business; which will have a share of 51% and you will get 49%. But an MOA, you can change it by defining the share of capital and percentage of profit. If you choose the option of business setup in Dubai free zone, then there is no need of local sponsor because in free zone sector, the foreign investor is allowed to hold 100% of company share and you only will be the sole owner.
Why use Xtreme Solutions for business setup in Dubai?
Because, we Xtreme Solutions has the biggest team of professional people, who knows the technicality of business setup in UAE. Moreover, we do provide a platform for buyers and sellers. Being Xtreme Solutions is the starting point of your business set up in Dubai, i.e, to give you a place in the largest market in the world and paving the path for your dream of business set up in Dubai, we will back you up in your every step. Our dedicated team of consultants is ready to help entrepreneurs seeking opportunities in the business set up in Dubai. We are very transparent in term of our work and we assure your satisfaction and happiness.
Why business setup UAE?
Dubai is a global city; and also a hub to connect the world in a single village. Business setup in Dubai has become the dream and prime priority for all the investors because Dubai is going to host Expo 2020 and more and more events in the coming years. There are hundreds of other reasons for business setup in UAE, which are as follows;
- 100% foreign owner ship.
- Dubai is a tax free area; that is, 0% corporate tax; 0% income tax.
- Liberty to repatriate capital.
- Full release from import as well as export duties.
- No currency limitations.
- No recruitment problems.
- Modern and efficient channel of communication.
If I have a business set up in Dubai free zone, can I do any trade outside of that free zone?
Yes, of course, you have no restriction to conduct business outside of UAE through a free zone company. But if you want to trade inside in UAE, i.e, in the local market, then you have to follow one of the two ways for doing so. The first way is to trade directly with a mainland company, which has an import/export license. The mainland company would need to clear any goods through customs as a part of the contract. The second way is to sign an agreement with a logistics company, which would clear the product/goods and supply them to market in the mainland.
What is the alternative for business setup in Dubai?
An alternative for the new business set up in Dubai is to buy an ongoing business. So buying a new business is a direct process of owning a business. In fact, this is a fast and easy process of business setup in Dubai because it doesn’t involve capital deposit, finding the local sponsor and also approvals from different departments. You just need only to agree with the offer price of the business; then you can be the owner of the business in a day. But buying an existing business is, of course, an expensive option; unlike new business set up in Dubai.
How to set up business in Dubai?
It is as simple as that – Call us and visit us today itself…We will do it with utmost responsibility and will guide you further to move ahead…
Steps & procedures for cancelling Limited Liability Company in UAE.
First: Notice of Company’s Dissolution & Appointment of a Liquidator:
- Submission of Registration & Licensing Application Form
- Duplicate of the official document showing the dissolution of the company, appointment of a legal liquidator and mentioning his name and determining the method of liquidation. This may either be by a resolution of the company’s partners or general assembly duly notarized, or by court order.
- Certified copy of the signature of company’s director(s), and the company’s legal liquidator, as the case may be, authenticated by the Notary Public.
- Original Certificate of Registration in the Commercial Register + the original trade license.
- Copy of the license of the liquidator + Certificate of condition auditor + Letter from the liquidator approving the liquidation of the company.
Second: Cancellation of license(s) & cancellation from the Commercial Registration:
- Certificates issued in the other Emirates indicating cancellation of license(s) (if any).
- Original copy of the final account of liquidation approved by the partners or general assembly and stamped by the legal liquidator.
- No-objection letter concerning cancellation issued by the Ministry of Labour& Social Affairs.
- Visa Cancellation of the partner(s) in case they are sponsored by their license.
- Copy of the notice of the company’s dissolution & appointment of a liquidator to be published in the official newspapers.
- Letter from the partner for the agreement of the liquidation of the company.
- Ministry of Economy resolution (concerning private shareholding).
- UAE Securities and Commodities Authority resolution (concerning public shareholding).
In short, only you have to appoint us liquidators of your company and our experts will give you license cancellation certificate.
What is Liquidation?
Liquidation is the method by which a LLC company (or a part of a company), sole establishment, Dubai free zone company or institution closes its operation and therefore the assets and property of the corporate or institution is distributed to creditors and shareholders (owners) of the UAE registered Company. Liquidation is additionally known or noted as winding-up or dissolution, though dissolution theoretically refers to the ultimate steps of the liquidation process. The liquidation of company in Dubai, UAE becomes inevitable when a corporation doesn’t have liquid funds to hold on day to day transaction of the company, creditors aren’t being paid or company commits some serious offense, and a regulatory authority or agency in UAE of Free Zone Authority accountable for the relevant sector files a suit for the affecting the operations of the corporate.
Liquidation could either be compulsory (sometimes noted as a creditors’ liquidation) or voluntary (sometimes noted as a shareholders’ liquidation, though some voluntary liquidations are controlling by the creditors).
Following are procedures and documents details that are required and presented to Dubai Economic Department or Economic Departments in other emirates or Free Zones Authorities in Dubai.
Requirements of Cancellation for Companies in UAE Free Zones like JAFZA, DMCC, JLT, TECOM, DAFZA, Hamriyah, RAK, DSO, Dubai SME,
- Resolution from Board for liquidating the corporate and appointment of the liquidator
- Immigration and labor departments clearance from free zone authority. All Visas ought to be canceled and cleared.
- Liquidation letter by a registered auditor for FZE & FZCO solely to be submitted
- All fees and charges are to be settled within the free zone.
- Clearance Certificate from free zone authority (For corporations transferred from free zone) to be submitted.
- Clearance Certificate from Business Unite (NOC).
- Clearance Certificate from CLD Government section
- Original License
Above mentioned procedures and necessities are common in the majority the free zones of UAE, However, requirements are continuously changing and might vary from one free zone to the opposite.
Process for Cancellation/Liquidation/Winding up of LLC license in Dubai, Abu Dhabi, Sharjah, Fujairah, Ras Al Khaimah (RAK) or Ajman underneath Main Land native Law and Appointment of Liquidator for the liquidation of a company
LLC Company Liquidation in General
- Pass and notarize Board Resolution to liquidate/cancel/ wind up operation of LLC company and appoint liquidators
- A letter from the appointed liquidator who accepts his appointment as company liquidator to liquidate the company in Dubai or Abu Dhabi
- Get Registration & Licensing Application type (Form No. BR/1) from the Economic Department of the Emirate (Dubai or Abu Dhabi, Sharjah, Ajman, Ras Al Khaimah)
- Bring the Company’s Original License and different legal documents.
- Letter (Release letter) from the property owner in favor of the licensees apart from GCC nationals.
- Apply and find No-objection letters from (DEWA, FEWA, DU/ETISALAT, the ministry of labor & immigration and RTA)
- Bank account closure certificate and no liability certificate for company liquidation in Dubai
- Shareholders resolution to dissolve the businesses from the Public Notary (for L.L.C companies)
- Company Dissolution letter from the Economic Development Department (DED).
Branch of a corporation Registered in Dubai, different Emirates or Foreign Company
- Board Resolution from Parent Company for the liquidation of the Branch office (notarized)
- Bring with you Original License
- Bring Original Certificate of Registration within the industrial Register (if the pinnacle workplace is registered in Dubai)
- Apply and find No-objection letter from (Bank, DEWA, FEWA, DU/ETISALAT, the ministry of labor & immigration and RTA)
Cancellation of business Company’s (LLC) registration Dubai
- Notice of company’s dissolution & Appointment of company’s legal liquidators (Approval from Legal Department)
- Get Registration & Licensing Application type from the Economic Department of the Emirate within which company is registered
- Copies of official documents showing the dissolution of the corporate and correct appointment of a legal liquidator and mentioning his/her name and determining the strategy of liquidation. this could either be by a resolution of the company’s shareholders or board of shareholders duly notarized or by court order.
- Certified copies of the signatures of the company director(s), and therefore the company’s appointed legal liquidator, because the case could also be, legitimated by the Notary Public.
- Original Certificate of Registration within the industrial Register + the first trade license.
- Copies of the skilled license of the liquidator and Certificate of No liability by auditor and letter from the liquidator approving the liquidation of the corporate
Cancellation of licenses and cancellation from the industrial Register
- Certificates issued within the different Emirates indicating cancellation of license(s) (if any).
- Original copy of the ultimate accounts of liquidation approved by the partners or general assembly and stamped by the legal liquidator.
- No-objection letter regarding cancellation issued by the Ministry of Labour & Social Affairs.
- Visa Cancellation of the partner(s) in case they’re sponsored by their license.
- Copy of the notice of the company’s dissolution & appointment of a liquidator to be printed in 2 of the native newspapers.
- Letters from the partners for the agreement of the liquidation of the corporate.
We are experts in all legal and regulatory issues concerning the liquidation of a company and have executed many company’s liquidation jobs in UAE under the direct supervision of our CEO. Our working methodology / work approach will cause minimal disruption in your routine work. We will arrange for all the departmental clearance certificates, handle banking issues, labour and immigration clearance and any other requirements. We are approved liquidators for all the following free zones in UAE.
“Business Setup and Company Liquidation” – both are challenging tasks in UAE – but we make it easy for you…