Month: December 2013
How Payroll Outsourcing Can Help Your Business Grow?
HLB UAE Payroll Team
Phone:- +971 4 327 7775
Mobile:- +971 50 205 9540
WhatsApp:- +971 56 219 1607
Email:- dubai@hlbhamt.com
Business is all about taking risks and knowing that you will be able to handle your business efficiently. Many businesses today would like to outsource some aspects of their business because they do not want to take unnecessary risk factors that can obstruct their growth. This is why majority of the business firms search for firms that can handle their payroll services because it is important for them to handle that aspect of the business, but they want someone that can handle it efficiently. Managing payroll services is a tough job and you will need experienced people to handle that department if you are not outsourcing payroll services.
How Payroll Outsourcing Can Help Your Business?
When you are relatively new in the business you want to make sure that you concentrate on your core business rather than concentrating on other aspects of the business like payroll services. This is why many companies today go for payroll outsourcing because they would not like to get deep into payroll services that can slow down their business projects. With payroll services being outsourced companies can get rid of their worries and focus on their short term and long term business goals.
On the other hand, it is always a good idea to outsource payroll services because you just cannot ignore payroll services and you will need some experts that can provide you with excellent results. There is no margin for error when it comes to payroll services and therefore you will need to hire professionals that know their job well. Payroll process requires in-depth knowledge of tax related legislations and hiring payroll service executives can be expensive for your firm initially.
Errors in payroll can be costly and you certainly do not want to end up paying more for the mistakes that were made in the payroll. When you go for payroll outsourcing you can be sure that your payroll is handled by experienced professionals who know their job and can ease of the tension of your staff. Hence, you actually end up saving more money for your business that can help you when you are new to the business world.
Choosing the Right Payroll Outsourcing Partner
- Location
When you are searching for payroll outsourcing partner you need to be very selective as you want firms or partners that offer services in the same city as you do. Although, it is not a requirement but that will only help you to make things easier for your company as you can interact with your payroll outsourcing partner in a better way. For instance, if you have your business in Dubai you can look out for payroll outsourcing Dubai firms that can deliver you the services you need to boost your business. Since they are local companies they are well aware of the tax related legislations and regulations in the country.
- Budget
Payroll outsourcing is definitely cheaper rather than making errors in the payroll that can cost your company dearly. However, you still need to concentrate on the budget factor because you want to ensure that you are not paying too much for the services you are being offered. Different companies have different rates so comparing their services and their price can offer you the right experience.
- Technology
When you are hiring payroll outsourcing firms you also need to ensure that you look out for companies that make use of latest software and technology to keep you informed and updated about all the issues related to your company payroll. The accounting system that is incorporated should be easy and the company should be able to deliver the reports in real time when you request for it.
- Efficiency
Selecting an efficient payroll outsourcing partner can help you in many different ways and therefore you need to be sure that the company you have hired can deliver accurate results and be efficient at the same time.
- Features
Different payroll outsourcing Dubai firms offer different features so you need to be selective in terms of the features that you opt for. The company should offer Wage Protection System, online leave management system through employee self service portal, employee travel management system, multi-currency salary payments, preparing transfer letters to the bank, preparing and delivering pay slips, better coordination with HR department and processing salaries, bonus, incentives and overtime for the employees.
- Customer Support
Your payroll outsourcing firm should also offer excellent 24 x 7 customer support that can allow you to address payroll concerns when they arise.
- Tax Compliant
While selecting payroll outsourcing Dubai partner you should also choose firms that can offer you the option to file and pay local, state and federal payroll taxes in compliance with the latest regulations in Dubai as that can help you to safeguard your business from costly dues and penalties that usually arise from payroll tax mistakes and errors.
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Business Setup in Abu Dhabi, UAE
HLB HAMT
Phone:- +971 4 327 7775
Mobile:- +971 55 160 1291
WhatsApp:- +971 56 219 1607
Email:- dubai@hlbhamt.com
UAE is known around the world for the excellent business environment it offers. Rules and regulations for conducting business from UAE are among the most liberal and attractive in the region. To operate a company in UAE with trading, industrial and professional activities, one has to obtain a relevant license. We provide our assistance in the formation of Limited Liability Company, proprietorship establishment, offshore companies, branch of a foreign company etc.
About Abu Dhabi
Abu Dhabi, the capital of the UAE, is the largest of the seven Emirates making up the UAE Federation. It possesses 94 per cent of the country’s oil reserves, covers around 87 per cent of the UAE’s total land area and is home to 38 per cent of the population. It is both the seat of the Federal Government and a bustling business centre.
Located on the North-East coast of the Arabian Peninsula, Abu Dhabi offers a strikingly contrasting landscape, from sandy beaches to green oases, and skyscrapers to rolling desert dunes. Its coastline is home to nearly 200 islands offering fascinating scenery of untamed beaches.
The Emirate of Abu Dhabi consists of three administrative regions: the capital city; the Al Gharbia (Western Region), which includes the oases of Liwa and extends deeper into the famous Al Rubu Al Khali (Empty Quarter); and the eastern oasis of Al Ain, better known as the “Garden City”.
Human settlement in the Abu Dhabi region dates back several thousand years. The place was discovered by a group of hunters who found a big herd of gazelles around a rare fresh water spring. They called it “Abu Dhabi”, which translates into “Father of the Gazelle”.
The discovery of oil in the early 1960s quickly transformed Abu Dhabi from a pearling centre into a global business powerhouse. Four decades later, oil still remains the main driver of the Abu Dhabi economy. The Emirate is the world’s fourth largest oil producer, contributing 10% of the world’s oil and 5% of its gas production. Recently, however, the Emirate has announced various initiatives aimed at diversifying its sources of income. These initiatives have already begun to pay dividends with the Emirate fast evolving into a magnet of foreign investment and a business hub.
Abu Dhabi is the most populous of the seven Emirates of the UAE Federation, with around 1.6 million (or 38% of the total population) living within its borders. Abu Dhabi is a cosmopolitan city that boasts one of the highest per capita incomes and one of the lowest crime rates in the world.
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Business Registration In Dubai,UAE
HLB HAMT
Phone:- +971 4 327 7775
Mobile:- +971 55 160 1291
WhatsApp:- +971 56 219 1607
Email:- dubai@hlbhamt.com
Dubai, The Tourism, Trading, Commercial and Transport hub that connects the world.
From a timeless desert, Dubai has been transformed into one of the most cosmopolitan cities in the world. Known for its tallest buildings with unique infrastructures, largest mall, high end boutiques, fine dining restaurants and home to more than 190 nationalities with diverse and different cultures, Dubai certainly is making global recognition and continues to attract tourists and businesses worldwide by converging in one common goal, living and working in this place they call Heaven.
Being one of the greatest business capital, Dubai’s success continue to inspire people, making it one of the most preferred destinations for global expatriates which now stands at more than two million. It is the choice for local and international organizations because of its strategic location, world class infrastructures, diversified and easily accessible market offering low logistics and operational cost. Doing business in Dubai also offers the following advantages.
- No personal income and capital taxes
- No corporate taxation
- 100% repatriation of capital and profits
- No currency restrictions
- Competitive import duties
- Modern efficient communication facilities
- Abundant and inexpensive energy supply
- Simple and efficient recruitment procedures
- Competitive freight charges
- Competitive real estate costs
- Easy access to both seaports and airports
- 100% ownership in Free Zones
- Availability of skilled and experienced workforce
- High level of administrative support
Dubai also offers different options in registering a company at the convenience of the shareholder or of the organization. They can choose from any of the following:
A. Free zones
Dubai was the first emirati to pioneer the free zone model and offers foreign businesses attractive concessions and a number of investment incentives. If the target market is outside of UAE, and you require an office space and a UAE residence visa, then registering a Free Zone Company or Establishment is recommended. The procedure and the cost for incorporating the company depend on the Free Zones you choose and the type of your activity.
A Free Zone company will be restricted to do direct business with the UAE Local Market. However, direct business with Local Market can be made through a Distributor with 5 % duty applicable. There is no restriction for a Free Zone company to do Business outside UAE and within the Free Zone. In a Free Zone, you can start the company as a Free Zone Establishment (single owner), Free Zone Company (maximum 5 shareholders) or Branch of your existing foreign company. The features of Free Zone companies are:
- 100% foreign ownership
- No local participation needed
- 100% import-export duty exemption
- Bank Account in Dubai/UAE
- Resident visas available
- Local trading by paying 5% duty (through a distributor)
- 100% tax free
Free Zone Areas are in Dubai Silicon Oasis, Dubai International Financial Center (DIFC), Internet City Free Zone, Dubai Media City Free Zone, Jebel Ali Free Zone, Knowledge Village Free Zone, Dubai Airport Free Zone, RAK Free Trade Zone.
B. Offshore Company
Examples of Professional Firms are Management Consultancy and Marketing Consultancy. There is no 51% local equity restriction like the LLC. Qualified foreign investors can set up this kind of main land company. Professional Firms has the following details:.
- Appointment of a UAE national as your local service agent.
- The local service agent will have no direct involvement in the business.
- Local service agents are paid a lump sum or a percentage of profits or on turnover.
- Allowed to do non-commercial activity.
C. Limited Liability Company (LLC)
A limited liability company is formed with a minimum of 2 shareholders and a maximum of 50 whose liability is limited to their share in the businesses’ capital. While foreign equity in the company may not exceed 49%, profit and loss distribution can be delegated.
LLC Companies offers a UAE Visa, an office space and business within UAE and International market. This type of company can be formed with 51% ownership of a UAE national and 49% with the foreign national. The UAE national is paid a lump sum fee yearly which depends upon his profile and status. However, complete managerial powers is vested with the foreign national and the UAE national’s role in the operation of the company is very limited. LLC companies have the following features:
- 100% tax free
- Get local presence in UAE
- Liability is limited to the company and not to the share holders
- Advantages on bid with local companies
- Can setup branches all over UAE in future
- Get consideration of local companies
- Can expect business reference from sponsors (not in all case)
- Can do business with local companies as well as international companies/outside UAE/clients (with respect to rules and regulations in abroad countries)
D. Professional Firms
Examples of Professional Firms are Management Consultancy and Marketing Consultancy. There is no 51% local equity restriction like the LLC. Qualified foreign investors can set up this kind of main land company. Professional Firms has the following details:
- Appointment of a UAE national as your local service agent.
- The local service agent will have no direct involvement in the business.
- Local service agents are paid a lump sum or a percentage of profits or on turnover.
- Allowed to do non-commercial activity.
E. Branch or Representative Office of Foreign Company
The following are the features of Branch or Representative Office:
- Branch office is permitted to exercise the activities (Licensed) of its parent entity
- Also, it empowers to undertake transactions and offer services to customers
- Representative offices are only allowed to have promotional activities supplementing the business activity of parent company
- Representative office cannot enter into business transactions or market products
- Additional license is required in some cases for the Branch of foreign company from Ministry of Economy
- Appointment of local service agent
- The Local Service Agent is:
- Not responsible to undertake any financial obligations and commitments as a result of the operation of the Branch or Representative office
- He should not interfere in the matters related to the Branch or representative office management or activities
- His duties towards the Branch or Representative Office are as requested by the principal (E.g; getting approvals and permits from government authorities)
- He is remunerated on a lump sum basis as agreed between the parties.
F. Sole Establishment
A sole proprietorship can only be owned by an individual of any nationality, and not a Company. He will have 100% ownership and control of all its operations and profits. He will also be responsible for all the business debts and other financial obligations. A sole establishment, on the other hand, that is commercial and industrial can only be owned by a UAE or GCC National.
Dubai, being the Middle East’s number one business tourism destination is a great business capital inspiring and attracting both international SMEs and worldwide corporations all over the world to establish themselves in Dubai and be part of the growing economy globally.
Dubai is just about everything that is known to be the best.
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Start A Share Holding Company in Dubai,UAE
HLB HAMT
Phone:- +971 4 327 7775
Mobile:- +971 55 160 1291
WhatsApp:- +971 56 219 1607
Email:- dubai@hlbhamt.com
We organize to establish shareholding companies in UAE from inception to conclusion We give strategic inputs, assist to help decide company structure, select local partners, choose exclusive office locations, organize business plan, and also handle documentation formalities.
Salient features:
- Minimum capital required for a public shareholding company is AED. 10 million (US$ 2.725 million).
- Minimum capital required for a private shareholding company is AED. 2 million (US$ 0.545 million).
- UAE nationals are appointed as Chairman/ Director.
While associating with HLB Hamt, you get the combination of our deep in-depth local knowledge 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.
Key points :
- 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)
- Abundant and economic energy supply
- Simple staff recruitment procedures
- Competitive freight charges
We undertake the entire task, so you’re free to concentrate on the bigger picture – your business.
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Trade License In Sharjah
HLB HAMT
Phone:- +971 4 327 7775
Mobile:- +971 55 160 1291
WhatsApp:- +971 56 219 1607
Email:- dubai@hlbhamt.com
The Department of Economic Development(DED), with the institutional support from the Chamber of Commerce & Industry, is the statutory body that regulates and controls the licensing procedures for an entity in Sharjah
However, licences 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.
Practising 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 Sharjah 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 mainland Trade License is ideal for small business owners?
- You need share capital for a free zone business. No capital is required for a sharjah 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 Sharjah.
What are the requirements for obtaining a trade license?
Prior to operating any business in Sharjah, 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 memorandum 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 Sharjah without renewing the Trade Licence.When it’s time for your Sharjah 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.
HLB Hamt will work with you to handle your business setup in UAE from start to finish.
HLB Hamt will help you evaluate the structure that will work best for your company.
We give strategic inputs, help you evaluate and select the right form of company, work with you on your business plan, handle paperwork and documentation formalities. In short, we handle everything you need.
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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Trade License in Abu Dhabi
HLB HAMT
Phone:- +971 4 327 7775
Mobile:- +971 55 160 1291
Email:- dubai@hlbhamt.com
The Department of Economic Development(DED), with the institutional support from the Abu Dhabi Chamber of Commerce & Industry, is the statutory body that regulates and controls the licensing procedures for an entity in Abu Dhabi
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.
Practising 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 Abu Dhabi is one of the following three categories of licenses
- Commercial licenses covering all kinds of trading activity.
- Professional licenses covering professions, services, craftsmen and artisans.
- Industrial licenses 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 mainland Trade License is ideal for small business owners?
- You need share capital for a free zone business. No capital is required for a Abu Dhabi mainland (DED) license.
- A free zone license is strictly associated with rented free zone office space.Mainland businesses can be run from a cheper 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 Abu Dhabi.
What are the requirements for obtaining a trade license?
Prior to operating any business in Abu dhabi, 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 memorandum 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 Abu Dhabi without renewing the Trade License.When it’s time for your Abu Dhabi trade license renewal, you can change your sponsor and business address, if required. HLB Hamt offers complete assistance in renewing the trade license in whichever way you need.We will send you timely reminders when the renewal of your license is due.
HLB Hamt will work with you to handle your business setup in UAE from start to finish.
HLB Hamt will help you evaluate the structure that will work best for your company.
We give strategic inputs, help you evaluate and select the right form of company, work with you on your business plan, handle paperwork and documentation formalities. In short, we handle everything you need.
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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Get in touch
Whatever your question our team will point you in the right direction
Start the conversationSign up for HLB HAMT insights newsletters
Business Valuation in Dubai
HLB HAMT
Phone:- +971 4 327 7775
Mobile:- +971 55 807 4568
WhatsApp:- +971 56 219 1607
Email:- dubai@hlbhamt.com
Business valuations are needed for a variety of reasons including financial reporting, purchasing & selling of a business, mergers, buy/sell agreements, divestiture and spin-offs, corporate carve-outs, corporate re-organizations, stock options and incentives, collateral values for loans, succession planning and more.
HLB Hamt can prepare comprehensive valuation for a variety of businesses regardless of size and structure.
Business valuation is more of an art than a science
When valuing a business there are a number of issues to assess including
- The dynamics of the sector in which the company operates
- The unique attributes of the company and how the company compares with similar businesses
- The market perception of the business
- Various business valuation models
There are various models available which will allow you to evaluate the value of a business. However, inputs to these models are based on judgment, which you will acquire from having hands-on experience. The estimated value of a business, when using any of these available models becomes the focal point at which to put a price tag on any business.
Asset based approaches
- Net assets value
- Book value
- Fair/ Market value
- Replacement cost
Market based approaches
- Market Multiples
- Comparable sale transaction
Income based approaches
- Discounted cash flow
- Capitalization rates using EBITDA or NOPLAT
We provide complete assistance throughout a merger or joint venture setup. From initiating dialogue with potential partners, setting of strategic directions to documentation and business plan, we will guide you every step of the way.
In short, we handle everything you need, so you’re free to concentrate on the bigger picture – your business.
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Trade License in Dubai
HLB HAMT
Phone:- +971 4 327 7775
Mobile:- +971 55 160 1291
Email:- dubai@hlbhamt.com
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, licences 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.
Practising 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 memorandum 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
Related content
Get in touch
Whatever your question our team will point you in the right direction
Start the conversationSign up for HLB HAMT insights newsletters
Accounting And Business Advisory in Dubai / UAE
HLB HAMT
Phone:- +971 4 327 7775
Mobile:- +971 56 147 0259
WhatsApp:- +971 56 219 1607
Email:- dubai@hlbhamt.com
We under take the entire accounting services in Dubai, UAE that deal with all of your routine accounts functions including business advisory as shown below;
- Accounting/Book keeping
- Month end financials
- Accounts payable outsourcing
- Expense processing
- Consolidation of accounts
- Forecasting & projections
- Verification, compilation and maintenance of property & equipment
- Inventory verification and valuation
How could our accounting services in UAE help you?
To get on with managing your business, but administration take up a lot of time; issuing invoices, chasing settlements, monitoring your bank balances and all related other tasks. Whether your business has an accounts department, or just a part-time bookkeeper, those people need to be managed, trained, supported with software packages and paid. All of this takes up your time, money and energy. Outsourcing leaving you free to concentrate on growing your business.
Accounts payable outsourcing services is the remedy
Hand over your routine accounts responsibilities to our Accounts payable outsourcing services team and you will have our skilled resources and expertise while working for you, without having the concern about day to day management.
We provide efficient accounting payable outsourcing service that will assist you to look towards the future growth of your business instead of worrying about its past.
Adding value through our dynamic approach to accounts payable outsourcing
Every client has diverse requirements. So it’s up to you how much you want from us; which of the services you need and how often you want to hear from us. We will keep in regular contact to hear your plans and suggest ways we can help you to build a better business.
What you get from us is not just a bookkeeping service, but skilled analysis of the trends of the transactions and ratios of financial health. You will get an effective and timely analysis – meaningful information that you can trust to make sound decisions about your business – all tailored to meet your individual requirements.
Our Strategy
We use our experience and expertise to help our clients for their betterment and assure that every venture is a success. Our main objective will be based on cost reduction, process improvement and process automation with improved turnaround time and service quality. We deliver the best in class services to our clients and ensure that all of them are delivered with high satisfaction levels.
- Bottom-line
- Up to 60% reduction in back-office costs.
- Smooth functioning of day to day operations.
- Top-line
- Focus your time on generating revenue/acquiring clients.
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Limited Liability Company Formation in Sharjah
HLB HAMT
Phone:- +971 4 327 7775
Mobile:- +971 55 160 1291
WhatsApp:- +971 56 219 1607
Email:- dubai@hlbhamt.com
Being positioned as the third largest among the seven emirates in the UAE, Sharjah is particularly getting sighted by investors across the globe. Along with its strategic location, affordable property prices, and excellent infrastructure, the government of Sharjah has come with mind-blowing business opportunities that enable entrepreneurs and investors to bloom exponentially in their business ventures.
The journey from a desert that was sustained only in the oil industry to a major commercial hub contributing more than 48 percent of the UAE’s Gross Industrial Output, Sharjah became a matured market that provides good business and steady returns to investors. With its unique access to the ports on the Persian Gulf and the seaports that enable it to connect with markets in different countries that include India and South Africa, Sharjah became the most attractive destination for international investment.
Limited Liability Company (LLC) formation in Sharjah
Limited Liability Company (LLC) is the popular company formation in Sharjah which requires a minimum of 2 shareholders and a maximum of 50 shareholders. This is the easiest way for expatriate residents and foreign entrepreneurs to set up their new companies in Sharjah. A UAE national as a shareholder requires at least a minimum equity of 51%. A foreign investor needs a local sponsor to conduct the business and also cannot hold more than 49%. The requirement of the local sponsor can be eliminated if you set up your company in the mainland of Sharjah. The liability of each shareholder is restricted to their shares in the company’s capital. The shares of a Limited Liability Company are not publicly owned. As per the Commercial Company Act, the commercial activities that Limited Liability Companies can do are numerous except banking, insurance, and third-party money investment.
Benefits of Limited Liability Company formation in Sharjah
The benefits of LLC company formation are as follows:
- No restrictions to doing your business in any part of the UAE.
- No corporate tax
- Affordable property prices
- No mandatory minimum capital requirements
- The managers of LLC can be foreigners, national, or third parties.
- No limitations in getting employment visas.
- Complete tax exemption from import, export, and all other commercial levies
- Multiple entry visa option for entrepreneurs
- No mandatory audits
- Cost-effective company formation provisions
- Different types of office spaces
- Warehousing facilities that allow storage of goods for 2 months for free.
- Availability of international banks
- Advanced communication system in the region
Documents required for LLC formation
- License form
- Brand certificate
- No objection letter certified by the applicant.
- ID proof of nationality
- Copy of Passport, visa, or residence
- Report on the Technical assessment study
- Legal approvals if needed.
- Trade name certificate as proof of the reservation of trade name
- The partnership contract certified by the public notary.
- Approval from the Ministry of Economy
- If your business activities include activities that require additional approval, obtain it.
- Certified copy of lease contract
- Property certificate
How to start a Limited Liability Company in Sharjah?
- Decide on the type of business activity that you are going to do.
- Choose your trade name.
- Obtain the Registration & Licensing Application Form and fill out all the necessary details.
- Obtain the signatures of all partners involved in your business and submit it to the DED to obtain initial approval.
- Complete the payment.
- Obtain approval and collect your license and registration certificates.
HLB HAMT to Assist
Setting up your business in Sharjah is always advantageous for entrepreneurs as it is a treasure trove of competitive business opportunities and a wide range of choices for conducting different business activities. Even though the Limited Liability Company Formation in Sharjah is not that cumbersome, you must be well-informed about the laws and regulations and must be updated about the amendments that authorities have brought into law to successfully conduct your business.
HLB HAMT is the best business setup consultant you can rely upon for this. We have decades of experience in assisting LLC formation for various small- and large-scale businesses in Sharjah and other emirates. We have given an overview of the LLC formation in Sharjah. If you want to know more about the Sharjah Limited Liability company setup, we are here for you. Get in touch with our expert consultant team to know about the dos and don’ts of company formation in Sharjah. We are always delighted to help you.
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