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The benefits enjoyed by companies already set up in Dubai vary. There are several options for companies seeking to build its aura in Dubai that includes Limited Liability Company (LLC), a branch or regional office, and a company set up in one of Dubais Free Zones. Business Organisations in Dubai International companies looking to establish their companies in Dubai are provided with different options. While in most business structures, a local agent or sponsor is required. The sponsors main duties include obtaining license and liaising with government officials. Foreign companies who want to enter into a joint venture company in Dubai must sign a contractual agreement with registered local businesses. This type of business structure is very ideal for companies working on specific project. The local company should have 51% shares from the company. Foreign companies can arrange the profit and loss distribution to its local party. There is also the Limited Liability Company (LLC) which provides foreign shareholders a chance to incorporate here in the UAE. Such an LLC requires a local agent or sponsor which should own 51% shares from the company. This type of business structure requires up to 50 personnel and the initial capital must be paid in advance of up to AED300, 000.00 in cash or any kind. The sponsor acts as the representative of the company in arranging legal matters such as obtaining license, work permits, and others. International companies engaging in financial activities like banking and insurance are ideally given the right to establish a public shareholding company or a regional office. For public shareholding, the required capital is AED1 million and for the private shareholding, AED2 million contributed in cash or any kind. In this case, the chairman and most of the directors should be UAE nationals as per the Companies Law. Reasons for Setting up a Business in Dubai Dubai has been most wanted when it comes to business set-up in the Middle East. This holiday and business destination offers international companies the most secured place amidst the global financial crisis. The free market and low tax system of Dubai and the rest of the UAE have drawn several companies from around the world and established their place in the Middle East. In fact, the location of Dubai is the perfect spot to grow and succeed in your business as it is located at the very centre of the largest consumer in the Middle East, India, and North Africa. The government has provided numerous incentives to companies based outside UAE that include excellent business environment. There are companies such as Sentinel Business Centres, specialising in providing assistance to international companies looking to set up their business in Dubai. If you do not know where and how to start, these companies offer consultation to what is best for your company. They can assist you with legal matters and even a quick business setup in Dubai. Setting up businesses in Dubai is easy and convenient.
Article Source: http://www.bharatbhasha.net Article Url: http://www.bharatbhasha.net/finance-and-business.php/226281 Article Added on Sunday, March 21, 2010 | ||||||||
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