DUBAI more info:

Dubai is a city located in the United Arab Emirates. Dubai has attracted  investors and many companies with innovative and ambitious construction projects , sporting events and conferences

Dubai ‘s economy which is growing at a surprisingly fast pace draws the attention of many investors.

Great investment and tax haven status attracts entrepreneurs by its transparent law system and free trade zone.

Benefits:

  • No income tax,
  • No tax on dividends,
  • Absolute privacy , confidentiality, protection of property and information ,
  • Ability to issue multiple classes of shares,
  • The rapid establishment of the board .
Środowisko prowadzenia biznesu

In Dubai  12 common areas were set up for business- in the future it is planned to create more such zones :

  • Dubai Airport Free Zone Authority
  • Dubai Gold & Diamond Park
  • Dubai Internet City
  • Dubai Knowledge Village
  • Dubai Silicon Oasis
  • Dubai Healthcare City
  • Dubai International Financial Centre
  • Dubai Sports City
  • Dubai Palm Island Development
  • Customs and Free Zone Corp
  • Dubai automobile Zone
  • Dubai Metal & Commodity Centre
  • Dubai Textile City
  • Dubai Flower Centre
  • Dubai Logistics City
  • Dubai Aid City
Domestic economy:
Dubai ‘s economy is growing at a surprisingly dynamic pace which gave him a big leap and attracted many large corporations that have opened their headquarters there . In the early days of the development,  Dubai’s economy was based mainly on one crude oil per day . Dubai’s economy thrives in a dynamic paste including development of modern infrastructure. Main focus was put on the construction of hotels , residential areas , roads , airports and many fabulous tourist attractions. Over the next five years  spending on investments will reach nearly $ 21 billion and the majority of these investments will take place  Dubai.

The government forecasts, for 2015 outlined in the strategic plan for Dubai, highlights the emphasis on diversification of the economy , which is a key objective . Hence, efforts to diversify and to create an economy based largely on knowledge and services .These actions are to safeguard the position of Dubai as a leading tourist resort , financial and business center as well as a major player in the field of real estate.

Dubai’s government plans to maintain a real economic growth of 11% a year in order to achieve a GDP of 108 billion dollars by 2015, and an increase in real GDP at the level of 44 thousand dollars  relying mainly on tourism trade, construction and  financial services.Despite the global economic crisis, the big players of the world economy has just moved their headquarters to Dubai which proves the great success of the government’s development plan.

The main objective of the creation of free zones was to attract  foreign traders and investors.

The beginnings of the Free Zones dates back to 1985.  That was when the model for regulations was created as a for foreign investors and entrepreneurs.

The huge success meant that this model has been copied not only in Dubai but also other emirates. Free Zones in Dubai offer business districts, offices and a highly developed infrastructure needed to run a business.

Main types of business activities:

Limited liability Company (LLC)

  • Opportunity to establish business contacts among citizens of the emirates ,
  • 51 % of the shares must belong to the citizens of the emirates ,
  • The minimum share capital is 81 800 GB
  • possibility to use the nominee director .

Free Zone Company:

  • Made from 100 %  shares of foreign capital ,
  • The ability to trade with companies from the UAE ,
  • No corporate income tax law for time of  50 years ,
  • No tax on individuals,
  • Lack of duty,
  • Unlimited amount of capital  across national borders ,
  • Registered Office is required .

IBC Company Offshore

This type the company is aimed at those investors who need the tax base in Dubai.

  • No minimum share capital ,
  • office is not required,
  • agent is required
  • audit is required ,
  • The minimum number of directors – 2,
  • No possibility of making a trade with UAE nationals

What will you need to register a company in Dubai?

  • A license is required which is renewed every year to conduct business in the zone
  • Name of the company

Business licenses

There are 5 types of business licenses in the Jebel Ali.

Company once  authorized in Jebel Ali Free Zone  and granted a license must renew it annually.  To renew the licenses the company must have a valid lease from the office of the free zone.

Types of  business licenses:

  • Commerce license – general license permits the holder to import , distribute and store goods in accordance with the provisions of Jebel Ali free zone ,
  • Trading license – allows you to import , export , distribute and store  the items on this license ,
  • Industrial License – allows you to import raw materials, carry out the production of specific products and export the finished product to any country ,produkcji określonych produktów i wywozu gotowego produktu do dowolnego kraju
  • Service license – allows you to perform a particular service . Types of services must be compatible with the parent company’s license , issued by the Economic Department,
  • The license of the domestic industry  is designed for manufacturing companies with ownership of shares of at least 51% of the Arabian Gulf Co-operation Council

Name Of the Company:

To register your company you need to choose the name and type of company .

You must choose the correct name for the intended activity. The name will be accepted  only if provided name  is not listed on the  register of companies .

When choosing a name for the company we must remember that it cannot violate the intellectual property, otherwise may result  legal actions.

The names of companies created in Jebel Ali free zone can be anything , but the completion of names such as .:

  • Bank
  • Trust Company
  • Emirate
  • Insurance require permits  issued by the register of companies.

It is not allowed to use  words, which in the opinion of the Registrar of Companies,  may suggest a relationship with the government of the UAE or position superior to him.

TAXATION

Individual tax

  • Does not apply to personal income tax excluding  shipping tax and duties.

Legal Person

  • No income tax
  • No capital gains tax
  • No withholding tax
  • No VAT

Legal regulations

Dubai Land Department records property on behalf of foreign entities registered in the Jebel Ali Free Zone Authority. The functioning of offshore companies at Jebel Ali Free Zone is  regulated in detail by the Jebel Ali Free Zone Authority Offshore Companies Regulations issued in 2003.

Offshore companies have similarities with foreign law firms in other jurisdictions, there are also differences such as the shareholders must  sign the documents, no bearer shares.

Offshore companies have been created for registration of property rights to real estate. Given this offshore company cannot carry out any activity in the territory of the UAE . However, this does not preclude the rights to the commercial activities in the UAE .Land department banned offshore companies owning property in Dubai with the exception of the companies in the Jebel Ali free zone.

If an offshore company wants to be a property owner must first set up an offshore company in the area of ​​Jebel Ali and then it will be the registered as the owner of the property.

The differences between Jebel Lai Free Zone Offshore companies and other Jebel Ali Free Zone Companies:

  • No requirement to rent an office or industrial premises
  • Registered office  address is the address of an offshore company registration agent.

Restrictions:

  • The ban on commercial activities in UAE .
  • Sale and possession of land  in Dubai

What activities are prohibited:

  • insurance
  • movie production
  • banking
  • gambling
  • financing activities
  • professional Services
  • games
  • consultation
  • counseling
  • intellectual activity
  • Real Estate
  • Media
  • military activities
  • safety
  • education
  • Publishing
  • advertising

Acounting & Auditing

It is not required In Dubai.

Finance & Bank Accounts

Banking Law

All banks require detailed information, both personal and our company to enable us to open an account for our offshore company . Documents are established individually however as a general rule office clerk may request planned turnover and directors and shareholders details.

Company registration form