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1.

What is the most economical way to set up company in the free zone?

 

A- Cost to set up a company depends upon the office space & number of visas required. However, Free zones in Ajman, Ras Al Khaimah, Sharjah (SAIF Zone, Hamariya Free Zone) & Fuzairah free zones are economical compare to free zones in Dubai .

Following are the details:

  • Cost $ 5,500 to $ 6500/- (1-2 visas) With office desk - This is annual rent & has to be paid every year at the time of renewal.
  • Cost Approx. $11,000 (for up to four visas) With office desk - This is annual rent & has to be paid every year at the time of renewal.
  • Capital $ 27,000 to $ 50,000/- has to be deposited (depends upon the free zone).In some free zones capital has to be deposited and in some cases within 90 days the deposit has to be done.
  • In case of Local shareholder must be present at the time of incorporation or POA can be presented, duly notarized in the country of origin.
  • Time to set up co. depends upon free zone to free zone (from 2-3 days to 5-6 working days).
  • Visa Cost - Investor visa will cost $450/- in some free zones & Visa cost for Employees will be $1,500/- approx+Labour Guarantee of One salary + one way return ticket. Visa is valid for three years. Visa stamping requires 7-8 working days.
  • General trading license can be obtained in some free zones.
2.

What will be the cost of Accommodation for Family or Bachelor?

  A- Accommodation cost for family in Dubai .
 
 
3. What will be Average cost of vehicle?
 
4.

How we can set up educational institute for training & migration of students to Canada & Australia for further studies?

A-Most Ideal place will be Dubai Knowledge Village Free Zone, if you want to educate the students but as you want to migrate the students to different countries, and then they will not encourage such institutes. To set up educational institute outside free zone, requires approval from Ministry of higher education.

5.

Can foreigner buy land in UAE & develop the property on it for residential or commercial purpose?

6. How we can set up the Industry (Glass or Oil Processing etc) in UAE.
7.

How can we start business of consultancy on Share market, investment in securities ,Finance & Trade online etc.

8.

Can I set up shipping company in Free zone with 100% ownership?

9.

Can I sell directly to local market in UAE, if I have a company based in Free Zone?

10.

Why set up a Company in the Free Zone?

 
In Free Zone, you will be 100% owner and outside Free Zone Local Partner will hold 51% share & Foreign Partner will hold 49% share in the capital.
11.

Which Free Zone is more economical to set up a Company?

 

Reply to above depend upon, the following factors.

  • Nature & Size of the operations.
  • Budget ( cost to set up the Company)
  • Visa required ( depending upon the rent and size of the office)
  • Requirements of the business ( customer / suppliers wants to visit to the office or retail business)
12.

Can I operate business from Dubai , if the Company is set up in any other Emirates?

Yes, you can operate business from Dubai and open a bank account also in Dubai , but the Certificate of Origin, if required, has to be obtained from the Chamber of Commerce where the company is set up, for export proposes.
13.

Can I apply for driving license in Dubai , if I have visa from another Emirates?

No, Driving License File has to be opened in the same Emirate from where the visa is stamped. However, in special cased, If NOC is issued by the Traffic Dept. of other Emirates then driving license can be applied in Dubai.
14.

After Setting up of Company? What other immediate formulates have to be done to start the business?

  • After setting up of Company ( after getting trade license ), Bank Account has to be opened
  • Visa of investor / staff has to processed ( Six months validity of the passport required)
  • P.O.Box has to be obtained
  • Rubber stamp has to be made
  • Telephone connection has to be applied
  • For Import & Export from Dubai Port , exporter's code (custom code) has to obtained.
15.

What will be legal status of the Company out side the Free Zone & in the Free Zone?

Out side Free Zone following are the most popular from of companies:
  • Limited Liability Company(L.L.C Partnership) Establishment ( Owned by local) and branch In Free Zone Following are the most popular form of companies:
  • FZC (Free Zone Company, this is proprietorship company )
  • FZE(Free Zone Establishment. This is proprietorship company )
  • Branch (branch of a Local Company or Foreign Company
16.

How will the initial capital be generated and deposited in the bank to set up the Company?

Cash being your personal saving can be deposited in any bank in the U.A.E. as a capital on Issue of letter from the Free Zone.

17.

Are there any income taxes or corporate tax levied in UAE?

No, there is no income tax or corporate tax as such, however 5% custom duty has to levied on import, if the Company is outside Free Zone also the same can be clamed refund upon the re-export.
18.

How can we sponsor the family?

Once residence visa is stamped on the passport family (wife and children) visa can be processed. For an Employee, to sponsor his family a minimum AED 3000/- + Accommodation or AED 4000/- + salary is required.
19.

What is the terminal benefit laws concerning Employees?

As per UAE labor laws, Leave salary and Air passage has to be paid to the employee every year, however gratuity is payable only if employee completes one year.
20.

Do we have to submit the audt reports to the government?

Audit repot is mainly required by the banks to get the bank facilities also to renew the license, some Free Zone has made it compulsory to submit bathe audit report, in some other case it is statutory requirements.
21.

What is the advantage of buying free hold property of EMAAR or Nakheel in the name of Offshore Company in jewel Ali Offshore Free Zone?

Transfer fees and Sharia Laws can be avoided if property is bought in the name of the Offshore Company in Jebel Ali.
22.

Is it possible to liquidate or close the Company immediately?

No, liquidation of Company outside Free Zone and in some Free Zone is time consuming and also expensive.

Contact us for Business Set Up In DMCC, Company Formation in Dubai Free Zone, Get Information for Business Set Up In DMCC, Company Formation in Dubai Free Zone.

 


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