We specialise in incorporating companies in the Dubai Multi-Commodities Centre (DMCC) and Ras Al Khaimah (RAK) Free Trade Zone
It will take 4-6 weeks to incorporate your UAE company
UAE Free Zone Companies enjoy all the benefits and are allowed all the functions of offshore entities with the only major differences and added advantages being:
Simple application to the authorities, requiring only activity, bank references, passport copies and utility bills for the ultimate beneficial owners / shareholders and managers
Company Name approval required first
Then licensing approval is required (business plan is required to be submitted). This can take some time depending on specific activity / project / circumstances – approximately 1 month.
Company registration follows and need for physical visit to sign Memorandum of Association.
Residence VISA for owners and staff (number of staff depends on size of space / premises opted for) can be processed. One week timeline, approximately and need for physical visit and can be combined with the bank account visit.
Emirates id is given after 30 days from visa approval.
Fees and Costs for a small company with minimum space requirements - for each license:
1st year – $8,450 (our fees: $1,450 for formation, $5,500 licensing - government fees and first year + $1,500 government fees - premises cost).
2nd and subsequent years - $5,450 (our fees $1,450 + $2,500 licensing - government fees and first year + $1,500 government fees - premises cost)
RESIDENCE VISA (3 YEARS RESIDENCE VISA AS AN INVESTOR OR PARTNER) – optional – but strongly recommended: $3,450 per person = our fees $1,450 + government disbursements $2,000 (number of visas depends on size of space / premises opted for).
We can assist you on this (introduction to the bank, arrange an appointment with our Bankers) at the cost of 345 USD with Mashreq Bank and with Habib Bank. Due to our strong local contacts, we are able to effectively introduce clients and drastically reduce compliance and account opening to 3-4 days on average, as opposed to normal opening which might take several weeks.
- A clear copy of the passports of all the investors/ managers as well as the page with entry stamp in the UAE.
- CV of all the investors/ Managers and a copy of the University Certificate of all the investors/ Managers.
- A recent personal bank statement with at least 20.000 Euro (or the equivalent in any other currency) for all the investors/ Managers.
- A paragraph of what the main business activity of the new Free Zone Company will be.
- The Authorities want the business plan (one for each Company) for the business activity of the UAE Company not the Companies abroad that the investor may have. Important note: in case you have difficulties to do it or you have no time, please let me know and if you wish I can assign this to our Consulting Department to prepare it. This will cost 1450 USD per business plan per Company. Please advise.
The RAK International Companies Registry allows foreign investors to register offshore companies as RAK Offshore, RAK companies offer some outstanding advantages over other offshore companies:
After you have submitted the name of your RAK Company to us, we submit an application and proposed company name for an initial approval. We then draft the company's Memorandum of Association and have it notarised. Deposit the share capital in a bank and obtain a certificate and submit the documents. File company documents and obtain copies of Trade licence and Commercial Registration Certificates. Deliver the copies of the documents and register. Ras Al Khaimah Free Trade Zone is one of the fastest growing, most cost-effective free zones in the UAE..
RAK Free Trade Zone offers the following licenses :
Commercial License : Export, Import, distribution or warehousing of goods. You are allowed to have two different activities or seven similar activities
General Trading : Export, Import, distribution or warehousing of goods. You are allowed to have more than seven different activities
Consultancy License : any type of management , marketing, academic, business or industrial consultancy
Industrial License : Import of raw materials , manufacturing , processing, assembling , packaging , export of finished products
Please note that we recommend you to proceed with a RAK Free Zone Company, with a Trading License (Wholesale of Unworked Gold and Precious Metals Tradingas the activity of the License). The RAK (Ras Al Khaimah) is by far the best value for money in the UAE and we command a very strong position on the ground with solid contacts in all areas.
The DMCC offers substantial benefits over other Free Zones regarding the incorporation process as it offers a one stop shop in house incorporation so that registration, incorporation, licensing, visas and all other related government services are administrated by the same governing body.
All companies registered in the UAE must obtain one of the following three licences depending on the business activities.
Trade Licence - This licence allows the entity to practice any trade activity through buying or selling goods and services. For example, wholesalers, banks, insurance companies, hotels and transport.
Industrial License - The entity is licenses to practice any form of investment activity with the objective to discover natural resources or to transform raw material into manufactured products.
Professional License - The entity is licences to practice any profession in which the activities depend on physical or mental efforts rather than depending on cash capital. For example auditing forms, business consultancy, medical services and educational services.
The DMCC is a prestigious Free Zone in the UAE and the process of incorporation consists of four stages. Once all four stages are complete the company is fully registered and incorporated in the DMCC Free Zone of the UAE and authorised to start conducting business activities.
This first stage begins puts things in place in order to start the incorporation process.
The second stage is the company registration process and after completed, the company will be registered with the DMCC Companies Registry. Upon completion of the following items the DMCC registry will issue the Provisional Approval and Bank Letter.
All companies are required to have a licence in the DMCC. When the items below are completed the DMCC registry will issue the Company licence, Memorandum and Articles of Association, Share Certificates, Certificate of Registration and other statutory company documents.
Once the business licence has been issued the following items must be completed. Once this stage is complete the company is fully incorporated in the DMCC and authorised to begin conducting business activities.
It is mandatory to have an office space to open a new company in DMCC. DMCC office requirements depend on the number of employees and type of activity conducted by the company.
A company may choose from the property below:
DMCC flexi desk can be used on a part-time basis while giving the companies a full-time physical address and professional appearance.
1 work station not dedicated
AED. 18,000-19,000/- approx. per year
For companies with full-time staff who requires a dedicated desk which can be perfectly tailored to their needs, including access to shared spaces.
1 dedicated work station
24/7 access to office
No additional cost for utilities
AED. 22,000-35,000/- approx. per year
Fees payable to the UAE government are expensive, with the government fees alone totaling AED 32,240 (€6,500).
Example fee structure payable to the UAE government for incorporating in the DMCC.
The annual company licence fee of AED 20,010 is payable every year the company is incorporated and, starting from the second year after incorporation, an annual administration fee of AED 5,000 (€1,000) is payable to the government.
Your company name may be in any language provided a translation is approved first. Your company name must contain the suffix: Limited or Ltd. Name approval process takes less than a few hours, and your name may be reserved for up to 10 days.
The minimum share capital required is AED 50,000
You must have a registered agent and registered office in the UAE and we can provide this service.
Once incorporated we provide a set of corporate documents for your United Arab Emirates company which, includes the Certificate of Incorporation, Memorandum of Association the Articles of Association, first minutes and share certificates. Copies of the company incorporation documents are sent via email and the originals from the companies registry are sent to you in a corporate folder.
Your United Arab Emirates company must have a registered office, which must be a physical address in United Arab Emirates. The registered office is where documents may be legally served on the company, we provide this registered office service in United Arab Emirates.
Visas are granted depending on the amount of office space (100sqft = 1 visa) visa costs are currently AED4000
In relation to establishing banking facilities in UAE please note that all Banks be they International or Local are governed by the Central Bank of UAE and therefore need to have the physical signature of the signatory to the Bank Account verified by the Banking Officer physically and the entry to Dubai is compulsory.