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Start a business in UAE without a local sponsor and the law comes into action. UAE companies will now be permitted 100% foreign investment. However, the UAE has dropped the need for organizations to sponsor locals. Besides, From Dec 1, NRI investors will be allotted 100% ownership. The revision to the Foreign Capital Investment Act is in line with federal law declared by President Sheikh Khalifa bin Zayed Al Nahyan. Well, the long-awaited 100% ownership of foreign citizens of companies licensed as well as registered in the UAE is now sanctioned under Cabinet Resolution No. 16 of 2020. Besides, the 

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From a poor fishing spot 40 years ago, Dubai has grown into a modern city with towering skyscrapers, sprawling malls and world-class leisure & entertainment. It is the tourist and business hub of the Middle East. Look at a picture of Dubai 10 years ago and look at one taken recently, you would find the landscape changed completely. Initially built on revenues from the oil industry, Dubai’s economy has shifted base to tourism, real estate, construction, diamonds, gold, industry & manufacturing. If you are looking to start or expand your business in this flourishing landscape, here are some basics...

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Planning to start a business in the UAE? We have a short list for you to look at before your venture. 1. Cultural values: The relationship between business and religion can be minimal in many countries but in UAE it is not so. The Islamic values of the country have a vast impact on everything such as work life, legal systems and work relationships. As an entrepreneur, you will have to first understand these basic values or get somebody who can help you navigate, before you get into the working mode. 2. Cost of Living & Time: If you have time between starting...

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8 misconceptions about UAE - We have been helping businesses set up business throughout UAE and this expertise has made us think about some of the misconceptions that are passed on to our clients before we met them. We are listing some of them so that you are clear on what to expect before you start your business in the UAE. 1. Underestimating the other Side: Foreign nationals simply tend to underestimate the Arabs and doubt their intelligence. Arabs are highly intelligent, highly educated and very savvy businessmen who have built great business empires through their hard work. You would be...

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Seven states, known as emirates, make up the country of the United Arab Emirates (UAE). Occupying 259 square Kilometers of the country, Ajman is the smallest of these seven Emirates. Ajman only covers about 0.3% of the total area of the United Arab Emirates. The Emirate is located in the center of the western coast of the UAE. The nearest Emirate to this is the Emirate of Sharjah, bordering Ajman on its north, south, and east. Umm Al Quwain, the least populous of the seven Emirates lies 10 Kilometers North. Dubai, the most populous and urbanized emirate of UAE, lies...

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As you all know financial matters are complicated. No matter how good you are at accounts there will be times you will need expert financial advice and that’s when we need financial advisors. Now why financial advisors are important? Simple. To lessen your pressure on financial matters. You never know that things like buying and selling stocks, managing your business deals, finance, auditing of your company etc can make your head spin like anything and at some point of time when you have to take a crucial financial decision it is always important to have an expert who can analyze...

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Your kind of business will find out the type of license you want. Whether it’s business, professional or trade licenses, these will describe the foundation of your processes. However, while choosing the types of a Company Set Up In Dubai, keep in mind that several activities such as food business, jewellery business, veterinary activities and lawful consultancy need further approvals from other governmental segments. The Department of Economic Development (DED) in Dubai has made a list of more than 2100 activities you can opt from. If you cannot find your exact one in there, you can get in touch with the DED....

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Abu Dhabi has invested heavily in developing infrastructure that has underpinned the Emirate’s growth over the past 30 years. Power and water utilities that were first developed in the 1960s for a population in the tens of thousands have grown to serve 1.7m people with increasing sophistication. Modern transport and communications links have facilitated trade and Business with regional and global partners. Not content however with the present infrastructure, Abu Dhabi has embarked on a massive investment and upgrade programme across its utilities and transport sectors to ensure that economic growth is not constrained by lack of capacity. The UAE’s strategic location...

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The UAE’s strategic location between Asia, Europe and Africa is a major advantage to investors, particularly the country’s proximity to some of the world’s fastest growing economies in Asia. India and China collectively comprise almost 40% percent of the world’s total population and support and combined GDP in excess of US$5 trillion, providing significant economic and trading opportunities. Dubai International Airport is a global hub, served by over 100 airlines. The Dubai Metro system serves approximately 1.2 million passengers per day and has metro stations near to all major active centers in Dubai. Dubai’s deliberate policy of investing heavily in transport,...

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The United Arab Emirates attracts foreign investors with their investment friendly laws that are insulated from main laws of the land. The creation of Free Zones in all Emirates of UAE is one of country’s such initiatives to attract foreign investments. Free Zones are geographically specified areas with laws and regulations different from the main laws of UAE governing business entities registered in the UAE. UAE Free Zone entities are best suited to firms which have substantial business dealings outside UAE requiring logistics or other advantages of operating from UAE.

Restrictions on Free Zone firms

Free Zone entities [Free Zone Establishment (FZE) or...

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UAE is well known for having many multinational companies, business-friendly environment, favorable tax structure, and a straightforward legal framework. Every country has its own procedures and set of problems to face as challenges investing for any business. Find about the most common challenges faced by an entrepreneur while Setting Up a Business in the UAE. For any sort of Business Registration in Dubai, contact the Socprollect Business consultants to make your business ventures successful at ease. Finding a Local Sponsor To find a perfect trustworthy sponsor dealing with the legal business is another challenge for an investor. Thus finding one in Dubai, owns...

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In UAE Free zones are the most fertile places, if you are planning to start your own business, this must be your priority. Most of the free-zones in Dubai are well equipped with infrastructure, tax exemptions and other beneficial business entities. There are uncountable benefits of starting your business In Free zones such as;

  • No tax on any kind of personal and corporate profits.
  • Regardless of the nationality and domicile of the investor, they have the right of 100% ownership.
  • All exports and imports duties are excluded.
  • For 15 years corporate tax is exceptional with the option for...

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Why Ras Al Khaimah as Business Destination

Ras Al Khaimah is an Emirate with all business facilities available at rates more than 25% lower than the other Emirates of UAE. For this reason, the Emirate is chosen for setting up by businesses of all sizes small, medium and large. Ras Al Khaimah is also a wise choice of business destination for investors deciding to test the waters before making huge investments in UAE. The Free Zones in Ras Al Khaimah – RAKIA and RAKFTZ – allow business registration at cost-effective rates without insisting on office spaces, which gives an opportunity to investors to study the...

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Are you planning for a Company liquidation in UAE? Closing down your business is a considered decision. The reasons for your shut down might be personal or professional. Whatever the reason, there are a few important things to be noted for. You need to comply with official procedures to shut down your business in UAE  Your prerequisites before closing down your business Your company’s regular operations and activities are well known to clientele. So, a sudden announcement of shutdown brings detrimental outcomes; economically and professionally. Therefore, how can you avoid such disruption along the way?

  • Let all your clients and...

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Company Registration Dubai Internet City - Established in the year 2000, Dubai Internet City (DIC) has grown to become the Middle East and North Africa’s largest Information and Communication Technology (ICT) Business Park, hosting both global and regional companies. The businesses in the following segments may be set up in Dubai Internet City.

  • Software – activities related to developing, installing and/or modifying software products of their own or of a third party
  • Internet and Multimedia – activities related to developing and/or distributing Internet or multimedia content. Other activities may include distributing goods or services via the Internet, such as...

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The Federal Tax Authority has recently announced 20 designated zones that would be free from 5% VAT implemented. These designated zones would be special zones for VAT purposes too. VAT is imposed on goods and services imported or supplied into UAE. Although these zones are a part of the UAE territory, for VAT purposes, they would be treated as outside the UAE. This means that the supply is not taking place in the UAE and hence the VAT would not be applicable. The following are the exempted free zones Abu Dhabi: Free Trade Zone of Khalifa Port; Abu Dhabi Airport Free Zone;...

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Dubai is a city that wholeheartedly welcomes expats and encourages its business plans. Current market trends in Dubai are very much favorable for youngsters as well as established ones. They offer plenty of opportunities for foreign investors to tap into imports and exports of commodities. One of the other advantages in Dubai is the growing tourist traffic of the city for an almost unlimited number of potential clients and customers going your way. All you have to do is you need to get acquainted with various facts associated with a business startup in Dubai. Always try to avoid problems mostly...

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Jumeirah Lake Towers (JLT) Free Zone was found in 2002 and is emerged as a free zone in Dubai that offers the required infrastructure for the registration of goods market centers in the UAE. Jumeirah Lake Towers Free Zone has a state-of-the-art infrastructure and business networking platforms to make sure the efficiency of companies developed there. At present, Jumeriah Lake Towers introduce around 7,000 companies. The JLT company formation entices overseas investors not only in the goods segments but also in the economic, logistics and insurance segments.

Company set up process in Jumeirah Lake Towers

The Dubai Multi Commodities Center Authority enables...

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Company Formation in Dubai is already an important step and decision. But one of the most important steps in creating a business plan is having a clear idea about the initial costs of setting up the business. Dubai was till now a tax-free for entrepreneurs but now the introduction of VAT has made the costing step even more crucial. So you have to be vigilant in calculating that too. It is also important to keep in mind the fees involved in issuing a new trade license.

Is it worthier idea a Company Formation in Dubai?

Also if you are planning to start...

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Dubai Company Setup Cost - Are you wondering how much the Dubai company registration cost? Expats arrive in Dubai, following their dreams and to have better lives. People need to venture out into their successful business world. There are so many factors to consider before deciding to open a company. The initial setup cost is an important factor that takes you ahead. To know more about the company setup cost in dubai, contact the Socprollect Consultants.

Initial set up cost for company formation in Dubai:

Every sort of company, before Setting...

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