Monday 27 August 2012

Cost of Virtual office in Dubai?

The fee for Virtual Office, vary from one free zone to another. The cheapest may be worth Dh.25, 000 p.a., permitting a maximum of two visas. This is inclusive of business license and registration fee for a year. Usually, no specific physical office space is given. However, some free zones offer business centre amenities with hot-desks on a first-come-first serve basis. In such cases, the minimum fee may begin at Dh.35, 000 p.a. with maximum of 4 visas permitted. The number of visas depends on the free zone chosen. The usual range is from 1 to maximum of 5 visas per company. In case more is required, the company will have to rent a physical office space within the free zone limits.

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Dubai Virtual Office

Virtual Office in Dubai Virtual Office is a perception meant for persons or SMEs who wish to keep costs effective solutionIt is intended for those in need of convenience to office space and business services as and when needed. A virtual office set-up is a cost-effective solution for small businesses planning to relocate their business or even for those planning to work from home or to start a new business Virtual Office set up is a negligible set up that provides the investor a business license to legally operate as a business, open a corporate bank account and get a UAE residence visa. Frequently, virtual offices are set up by freelancers with limited financial resources and minimal staff necessities. To put it in short, Virtual office gives you the option of owning a prestigious business address, without investing on traditional office space. Virtual Office comes without physical office space. But, as per the current laws in the UAE, it is mandatory for every business to have a commercial space. The free zones in Dubai that are offering Virtual Office set ups provide business centers with hot desks, wherein, the clients can visit as and when they wish, taking up whatever space is available at that time. In fact, some virtual offices at free zones also provide conference room facilities that can be hired on an hourly basis. In a virtual office set-up, you can work either from your residence, or anywhere else, but, you are not allowed to use home/residential address in your business cards or on your website, as it is against the law.

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Thursday 16 August 2012

Dubai Licensing

For practicing business in Dubai official approval from the concerned government ministry or department is a prerequisite.

There are three categories of licenses Issued by Dubai Department of Economic Development:

1. Trade or Commercial License: covering all trading activities.

2. Industrial Licenses: for establishing an industrial or manufacturing business.

3. Professional Licenses: covering professional services, craftsmen and artisans

As elaborated in chapter (3) of this guide, license for practicing business in Dubai is issued by the DED and other different authorities, depending on the nature of the economic activity.

These concerned authorities include:

• Department of Economic Development (DED) for licenses related to industrial activities as well as internal and external trade in Dubai.

• UAE Central Bank, which issues licenses for businesses linked to the financial market.

• Department of ports, customs and Free zone for licenses of businesses dealing with marine and marine related activities.

• Dubai municipality issues licenses related to food services, construction, engineering consultancy.

• Dubai Cargo Village, for businesses related to air cargo services.

• Civil Defense department to confirm compliance with the occupational safety requirements

• Dubai Securities and commodities Authority oversees and authorizes brokerage services. However, there are certain activities, which require obtaining special tentative approvals from some competent authorities as shown in the Table (3) below. If the required activity is conducting a business that is not included in this table, procedure of licensing may be started without the need for obtaining such special approval.

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Wednesday 15 August 2012

Dubai UAE Licensing and Registration


Dubai UAE Licensing and Registration

Prior to starting any business in Dubai, the steps outlined below must be followed in order to meet the legal requirements of all concerned government authorities:

 Identifying the type of business activity/activities to be practiced (commercial, industrial and/or professional).

 Determine all the related business activities that can be included within each business license, subject to a maximum of ten activities per license.

 Determine the appropriate legal form for your business taking into consideration the desired business activity/activities and the number and nationalities of the business owners.

 Prepare all the requirements of the license to be issued.

 Determine the trade name of the business.

 Submit an application to the DED for an initial approval and registration of trade name either by a personal visit to the Department Offices or through a document clearing service or a legal consultant's office.

 Lease of business premises (it is recommended that you contact the counter of the Planning Department of Dubai Municipality on Telephone Number 2020105 or on Dubai Municipality's Telephone Number 2063788, before leasing premises in order to verify that it is suitable for the business). Thereafter you can visit the said Department's counter on the building's first floor for approval of the premises.

 Prepare all required documents such as Memorandum of Association and other contracts such as the appointment of local service agent, which has to be authenticated by the Notary Public and approvals of other relevant government authorities, which are necessary in some cases. For example, to carry on media activities, an approval issued by the National Media Council is required.

 Submit an application to the DED to obtain a final license. Applications can be submitted through a document clearing service or a legal consultant's office.

 Pay the required fees to have a license issued

 Submit an application to the Department for a signboard permit for a business trade name as required by the regulations. However, office premises would be an exception to this.

 To obtain necessary connections for telephone, fax, and Internet services, an application must be submitted to either Emirates Telecommunications Corporation "Etisalat" or Emirates Integrated Telecommunications Company "du".

 To obtain a Post Office Box for an establishment, an application must be submitted   to     the
"General Postal Authority.” You may visit the said Authority’s website at www.gpa.gov.ae.

 Obtain necessary work permits for business employees and management; an application must be submitted to both the Ministry of Labor and Social Affairs and the Department of Naturalization and Residence. For more information you may visit the Department of Naturalization and Residence website at www.dnrd.gov.ae, and the Ministry of Labor and Social Affairs website www.mol.gov.ae


 
 To register a trademark or a commercial agency, you must refer to the Ministry of     Economy.

You may visit the said Ministry's website at www.economy.ae.


 If you wish to run a promotional campaign or a commercial offer, or if you wish to carry out an activity after official working hours or additional activities etc., an application must be submitted to the DED branch at Al Tawar Trade Center for the necessary permit.


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How to set up a Business in Dubai(Part 2)


How to set up a Business in Dubai

(Part 2)

Selection of the Legal Form

Suitable for the business project as per the type of business activity, which will be practiced, the amount of invested capital and other important considerations already referred to in this section in the light of which the firm’s deed is prepared, signed by the concerned parties, and attested by the Notary Public.


Table1. Legal Forms of Establishment


Legal form
Legal liability
Minimum capital
Number          of         persons required
Joint Liability
Joint
None required
Two or more UAE partners
Limited partnership
Limited to shares
None required
One or more joint partners all from UAE
Particular Partnership
Personal unlimited liability
None required
Two or more parties
Public Joint Stock
Company
Limited to shares
AED 10 million
Minimum 10 founder members
Private Joint Stock
Company
Limited to shares
AED 2 million
Minimum 3 founder members
Limited Liability
Company
Limited to shares
None required
2 and not to exceed 50
Partnership Limited with Shares
Joint liability
AED 500.000
General and participating partners
Branch of a foreign company
Same legal identity of parent company
-
Must have UAE service agent




1.1.2 Ownership Requirements

All companies to be established in Dubai require 51 percent UAE nationals’ ownership. Exception to this requirement is applied to the following categories:

    Companies set up in the different Free Zones
    Foreign companies registering branches or representative office
    Activities allowing 100% GCC ownership
    Professional Companies are permitted to have 100% foreign ownership on condition to their compliance with appropriate local regulations and laws.
    Instances where the law requires 100 percent local ownership.

Table (2) below shows the business activity according to the ownership structure








Table2. Business activity by ownership structure



Business
Activity
UAE National
GCC National
Foreign
National
Foreign
Company


Sole proprietorship


9


9

9
Requires a UAE national service agent

9
Acts as a representative office and requires a UAE
national service agent



Limited Liability Company




9

9
If GCC national has one or more foreign partners, then at least one UAE national partner is required. Foreign ownership should not exceed 49%.

9
At least one UAE national partner required. Foreign ownership should not exceed 49%.

9
At least one UAE national partner required. Foreign ownership should not exceed
49%.



Private Shareholding Company

9
Requires a minimum of 3 UAE national partners.

9
Requires a minimum of 3
UAE national partners. If GCC national has one or more foreign partners then the foreign ownership should not exceed 49%.

9
Requires a minimum of 3
UAE national partners. Foreign ownership should not exceed 49%.

9
Requires a minimum of 3
UAE national partners. Foreign ownership should not exceed 49%.



Public Shareholding Company

9
Requires a minimum of 3 UAE national partners.

9
Requires a minimum of 3
UAE national partners. If GCC national has one or more foreign partners then the foreign ownership should not exceed 49%.

9
Requires a minimum of 3
UAE national partners. Foreign ownership should not exceed 49%.

9
Requires a minimum of 3
UAE national partners. Foreign ownership should not exceed 49%.
Civil Business Company/ Professional Services


9

9

9
Requires a UAE national service agent.

9
Requires a UAE national service agent.

 
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