Trade License in Dubai, UAE

HLB HAMT

HLB HAMT - Accounting Firm in UAE
Phone:- +971 4 327 7775
Mobile:- +971 55 160 1291
Email:- dubai@hlbhamt.com

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    The Department of Economic Development(DED), with the institutional support from the Dubai Chamber of Commerce & Industry, is the statutory body that regulates and controls the licensing procedures for an entity in Dubai.

    However, licenses for some categories of business require approval from certain ministries and other authorities: for example, banks and financial institutions from the Central Bank of the UAE; insurance companies and related agencies from the Ministry of Economy and Commerce; manufacturing from the Ministry of Finance and Industry; and pharmaceutical and medical products from the Ministry of Health. More detailed procedures apply to businesses engaged in oil or gas production and related industries.

    Practicing some trade activities (e.g. jewellery and insurance) requires the submission of a financial guarantee issued by a bank operating in UAE. In general, all commercial and industrial businesses in UAE should be registered with the Chamber of Commerce and Industry in the respective Emirate.

    Types of trade license

    The basic requirement for all business activity in Dubai is one of the following three categories of licences:

    • Commercial licences covering all kinds of trading activity.
    • Professional licences covering professions, services, craftsmen and artisans.
    • Industrial licences for establishing industrial or manufacturing activity.

    The Authorities also issue some special licenses such as Business Operation Permit, Entrepreneurial Business License etc subject to certain criteria.

    Why a trade license is ideal for small business owners?

    • You need share capital for a free zone business. No capital is required for a Dubai mainland (DED) license.
    • A free zone license is strictly associated with rented free zone office space. Mainland businesses can be run from a cheaper business centre.
    • Free zone business license and visa costs are cheaper, but it restricts you to work within free zones and international regions only with a Mainland (DED) license, you can have clients from anywhere in UAE as well as internationally.
    • The long-term free zone benefits and services are more appropriate for a large international company than a small business owner.

    In both types of companies, there are no income taxes and if you’re thinking of starting a professional practice, you own the company 100%, regardless of whether it’s in free zone or mainland Dubai.

    What are the requirements for obtaining a trade license?

    Prior to operating any business in Dubai, it is first necessary to follow the steps outlined below in order to meet the legal requirements of all concerned government authorities and to guarantee maximum commercial benefit for the business owner.

    • Designate the category which the business falls into- commercial, industrial and/or professional.
    • Determine all the related business activities to be included within each business license(Maximum 10 per license).
    • Make a decision as to your business’ appropriate legal status in UAE.
    • Select an appropriate trading name for the business.
    • Submit an application to the Department for initial approval.
    • Register a trade name after receiving initial approval(If you don’t have previously reserved a trade name).
    • Lease business premises and obtain approval from the Authority.
    • Prepare all required documents; such as memoranda of association and approvals from other relevant government authorities which may be necessary to each case.
    • Submit a further application to the Department to obtain the final license.
    • Pay the required fees.

    Renewal of Trade License

    One cannot conduct business in Dubai without renewing the trade licence. When it’s time for your Dubai trade license renewal, you can change your sponsor and business address, if required. HLB Hamt offers complete assistance in renewing the trade licence in whichever way you need. We will send you timely reminders when the renewal of your license is due.

    With HLB Hamt, you get the combination of our deep local knowledge and extensive experience, which gives us the ability to precisely understand the unique needs of your business. We are thus able to recommend the best possible options and ensure that your business is set up with minimal hassles and effort.

    We handle the details for you, so you’re free to concentrate on the bigger picture – your business.

     

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    Whatever your question our team will point you in the right direction

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    LLC Formation in Dubai

    HLB HAMT

    HLB HAMT - Accounting Firm in UAE
    Phone:- +971 4 327 7775
    Mobile:- +971 55 160 1291
    Email:- dubai@hlbhamt.com

      Get Free Consultation




      Dubai allows LLCs to come up with flexible, differential profit sharing arrangements. This can give you a great edge as the 51% local equity rule is inflexible in most cases.

      A limited company may be formed by a minimum of two and a maximum of fifty persons whose liability is limited to their shares in the businesses capital. Most companies with foreign partners have opted for the Limited Liability Company, due to the fact that this is the only option that’ll give maximum legal ownership i.e. 49% to the expatriates for a trading license. As it is compulsory to keep one UAE national as a partner in the LLC company, prospective investor has to choose one UAE national (sponsor) as a partner in the company.

      The time it takes to form a company will be approximately 1-2 weeks from the date of receipt of all documents. The licensing Authority in the Emirate of Dubai is the Department of Economic Development.
       

      Advantages of a Dubai LLC

      • While foreign equity in the company may not exceed 49%, profit and losses will be shared in a ratio different to that of the share capital ratios.
      • The most popular method of establishing a commercial company in Dubai.
      • A Dubai LLC offers unrivalled access to Dubai and the wider UAE economy.
      • Through a Dubai LLC, international entrepreneurs obtain Trade Licenses from the Dubai government.
      • No specific minimum capital requirements.
      • The investor becomes the partner in the company.
      • The investor gets the investor visa under which he/her enjoys an investor’s status in Dubai along with his/her family.
      • The investor can create more branches at different places for his activities.
      • The investor can run the business without the day-to-day interference of the local national partner.
      • The assets and capital created will be in the name of the company and not in the name of the local national partner.
      • Only a few restrictions on the activities of a Dubai LLC.
      • Easy to open global corporate bank accounts following Dubai LLC set up.

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      Freezone Company Setup in JAFZA Dubai

      HLB HAMT

      HLB HAMT - Accounting Firm in UAE
      Phone:- +971 4 327 7775
      Mobile:- +971 55 160 1291
      Email:- dubai@hlbhamt.com

        Get Free Consultation




        JAFZA is one of the largest and fastest growing of Dubai free zones . JAFZA, today houses more than 6400 of the world’s finest companies .The present JAFZA profile includes more than 150 of the Global Fortune 500 companies. Investors are provided world class infrastructure supported by quality driven value added services and incentives, enabling them to capitalize on the huge business opportunities in the region.

        The free zone has come a long way from the 19 companies in 1985. This growth can be attributed to JAFZAs innovative solutions for global industrial investors and focus on long-term customer relationships. It is the first free zone in the world to win ISO certification in 1996.

        Jabel Ali Free Zone (JAFZA) Advantages

          JAFZA ranks among the world’s largest and the fastest growing free zones.
        • 25 years of operation with over 6400 companies from 120 countries.
        • Jafza is the only free zone in the world to be located between the two major logistic enablers- Al Maktoum International Airport, the world’s largest airport, and Jebel Ali Port, the world’s 6th largest seaport.
        • A six lane highway facilitates the transportation of goods (custom bound) from sea to air in just 20 minutes.
        • Access to a market of over 2 billion people in South and West Asia, the CIS and Africa.
        • Home to multinational giants and fortune 500 companies.
        • Part of the ambitious Dubai Logistics Corridor to link sea, land and air, bringing together a multi-modal logistics platform in the Middle East.

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        Whatever your question our team will point you in the right direction

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        Company Formation In Dubai UAE

        HLB HAMT

        HLB HAMT - Accounting Firm in UAE
        Phone:- +971 4 327 7775
        Mobile:- +971 55 160 1291
        Email:- dubai@hlbhamt.com

          Get Free Consultation




          Establishing business in UAE is an excellent way to legitimately book international profits without paying any tax. Besides, there are no capital gains or personal income taxes in UAE.

          Company formation in UAE is a reputable, regulated and international trading solution. It is appropriate to use as holding or investment company, and is an excellent, long term option.

          HLB Hamt liaison with clients to set up their business in UAE. We handle the complete business formation process – strategic recommendations, negotiations with local stakeholders, documentation formalities – the entire assistance towards business floatation.

          Advantages

            1. A growing market – Imports in UAE have more than doubled since 1989; regional economic growth and liberalization is set to boost demand.
            2. A prosperous market – strategic location at the heart of one of the world’s richest regions.

            3. A diversified market – wide import requirements; opportunities for suppliers of most products.

            4. An accessible market – served by more than 170 shipping lines and 86 airlines; An open market – no exchange controls, quotas or trade barriers.

          The Business Environment

          U.A.E. offers incoming businesses all the advantages of a highly developed economy. The infrastructure and services match the highest international standards, facilitating efficiency, quality and service. Among the benefits are:

          • Free enterprise system.
          • Highly developed transport infrastructure.
          • State-of-the-art telecommunications.
          • Sophisticated financial and services sector.
          • Top international exhibition and conference venue.
          • High quality office and residential accommodation.
          • Reliable power, utilities etc.
          • First class hotels, hospitals, schools, shops etc. Cosmopolitan lifestyle.

          Business Climate in UAE

          • No personal income and capital taxes.
          • No corporate taxation.
          • 100% repatriation of capital and profits.
          • No currency restrictions.
          • Competitive import duties (5% with many exemptions).
          • Modern efficient communication facilities.
          • Abundant and inexpensive energy supply.
          • Simple staff recruitment procedures.
          • Competitive freight charges.
          • Competitive real estate costs.Easy access to both sea and airports.

          Get in touch

          Whatever your question our team will point you in the right direction

          Start the conversation

          Offshore Company Setup in UAE

          HLB HAMT

          HLB HAMT - Accounting Firm in UAE
          Phone:- +971 4 327 7775
          Mobile:- +971 55 160 1291
          Email:- dubai@hlbhamt.com

            Get Free Consultation




            What makes an offshore company in UAE unique?

            1. UAE is an independent or ‘overseas’ territory and is white-listed.
            2. UAE has Double Taxation Avoidance Agreements (DTAA’s) with several countries, currently more than 40.

            Benefits of UAE offshore company

            1. 100% foreign ownership is allowed.
            2. No necessity for finding a UAE national a shareholder or sponsor.
            3. There is no public register of company officers.
            4. Complete anonymity and privacy.
            5. Company can own real estate properties on approved areas by the Authority.
            6. Hold multi-currency bank accounts.
            7. The offshore company is exempted from all corporate and income taxes.
            8. There are no foreign currency restrictions.
            9. Full repatriation of the profits and capital is allowed.
            10. The setting-up costs are comparatively less.
            11. There is no onshore office and accordingly, there are no employees and related costs.
            12. Only minimum capital is required to set-up an offshore company.
            13. Minimum of 1 Director / Shareholder.

            There should be a registered agent that is approved by the authority and they are eligible to form the offshore company. The agent will have to be located either in the free zone itself or in the UAE.
            HLB Hamt is a registered agent and one of the market leaders in offshore business consultancy offering solutions to clients looking to minimize taxes, protect assets and limit liabilities.

            We offer

            1. Registered Office with PO Box.
            2. Preparation of Memorandum and Articles of Association.
            3. Preparation of registration forms.
            4. Preparation of Incorporation certificate.
            5. Assisting in opening a multi-currency bank account.
            6. Filing with the registrar of companies.
            7. While associating with HLB Hamt, you get the combination of our in-depth local expertise and extensive experience, which gives us the ability to precisely understand the unique needs of your business. We are thus, able to recommend the best possible options and ensure that your business is set up with minimal hassles and effort.

            Get in touch

            Whatever your question our team will point you in the right direction

            Start the conversation

            Registering into ADNOC & its subsidiaries

            HLB HAMT

            HLB HAMT - Accounting Firm in UAE
            Phone:- +971 4 327 7775
            Mobile:- +971 55 160 1291
            Email:- dubai@hlbhamt.com

              Get Free Consultation




              Standing at rank 7 among the top oil producing company as per the analysis of OPEC and crossing over USD 75 billion in net turnover, its considered crème de la crème to be part of ADNOC as a Vendor/Supplier or Manufacturer.

              Abu Dhabi National Oil Company ( ADNOC ) was established in 1971 to operate in all areas of the Oil & Gas industry and since then has steadily broadened its activity in establishing companies and subsidiaries and creating an integrated oil and gas industry in the fields of exploration and production, support services, oil refining and gas processing, chemicals and petrochemicals, maritime transportation and refined products and distribution.

              The Supreme Petroleum Council ( SPC), Chaired by His Highness Sheikh Khalifa Bin Zayed Al- Nahyan, President of the UAE and Ruler of Abu Dhabi, formulates and overseas the implementation of Abu Dhabi petroleum Policies.

              ADNOC has 15 subsidiaries and they include ADCO, ADMA-OPCO, GASCO, ADGAS, ZADCO, TAKREER, NDC, ESNAAD, IRSHAD, FERTIL, BOROUGE, ADNATCO-NGSCO, ADNOC distribution, ELIXER and AL HOSN GAS.

              Subsidiaries:-

              Among the above we would concentrate on the following due to its expansion phase:

              1. Abu Dhabi Company for Onshore Oil Operations ( ADCO ):- The Abu Dhabi Company for Onshore Oil Operations (ADCO) operates onshore and in shallow coastal water of the Emirate of Abu Dhabi, one of the seven members of the United Arab Emirates.
              2. ADMA-OPCO:- “To be the Premier Offshore Oil and Gas production development company, aspiring to operational and technical Excellence and highest Effectiveness of resources utilization through innovative teams to maximize Value.” Following this vision they have formulated a series of stringent regulation for vendor qualification.
              3. GASCO:- GASCO aspires to be the most innovative and respected supplier of gas and hydrocarbons in the United Arab Emirates. “Our commitment to sustainable development where GASCO balances the short and long term interests, integrating economic, environmental and social interest in to the business decision-making process, within the framework defined by our shareholders.” A world class company following its vision towards sustainable development has set a benchmark in selecting vendors.
              4. ADGAS:- “We will achieve our vision through the safe and efficient production, marketing, sale and delivery of  LNG, LPG and natural gases, P.Naphtha and sulphur; building on our ADGAS history, solid partnerships and human capital. We will strive to sustain our recognized international reputation for reliability, integrity and efficiency and to  continually improve HSE and business performance.” A subsidiary in the process of aspiring to the best in the delivery business.
              5. ZADCO:- “Mandate was/is to develop the Upper Zakum field on behalf of ADNOC and for the benefit of the shareholders in the joint venture, Abu Dhabi National Oil Company (ADNOC), ExxonMobil, and Japan Oil Development Company Ltd. (JODCO)”. In an expansion mode to co-develop various other field, as the projects are being sanctioned there is a need for world class companies to register with them.
              6. TAKREER:- Takreer is considered a prominent oil refining company regionally and internationally contributing to oil markets and to the rapid growth of UAE economy. To be part of this would be to be part of a History of UAE and to be part of an exciting company with promising projects lined up.
              7. FERTIL:- “To be the First Choice Company producing and supplying environmental friendly industrial fertilizers.” In line with this vision and increasing the production capacity from  0.8 to 2 million tons and massive expansion plan, the companies have a gold chance to be part of such expansion.
              8. BOROUGE:- “Shaping the Future with Plastics”. A world class company with a distinctive process of structuring value addition into the process.

              Now with the expansion of each subsidiary and trying to be the leader during the process has enabled the various new companies to register with ADNOC and its subsidiaries. We at HLB HAMT, having assisted a few esteemed clients, will assist and provide consultancy on the methods to register with ADNOC company and streamline the process as easy as possible. Kindly contact us for further details.

              Get in touch

              Whatever your question our team will point you in the right direction

              Start the conversation
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