UAE Announces Guidelines for determining Tax Residency

Rajesh R Pillai

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HLB HAMT - Accounting Firm in UAE

Phone:- +971 4 327 7775
Mobile:- +971 55 160 1291
WhatsApp:- +971 56 219 1607
Email:- dubai@hlbhamt.com

    Schedule a Consultation






    The Cabinet Resolution No. (85) of 2022 on determining tax residence was recently announced by the Federal Tax Authority of the UAE, which will be put into operation on March 1, 2023. There was no legal definition of UAE Tax Residency prior to the resolution. But the administration designed the legislation to keep up with the nation’s constantly changing tax environment in order to comply with international taxation and also to be in line with the new corporate tax structure that the UAE intends to put into place starting in June 2023.

    For assessing whether an individual may be classified as a UAE tax resident, certain regulations have been implemented. The following is a summary of the criteria that have been defined for identifying the tax domicile of juridical and natural persons in the UAE:

    I. Juridical Person

    According to the Resolution, when one of the following requirements is satisfied, a juridical person should be regarded as a UAE tax resident:

    • Where it has been established, incorporated, or acknowledged in conformity with the laws in effect in the state, since this excludes the branch that is registered by a foreign juridical person in the state
    • It is regarded as a tax resident in compliance with the state’s current tax law.

    II. Natural Persons

    Natural persons are considered tax residents in the UAE under Article 4 of the resolution if any of the following criteria is satisfied:

    1. The UAE is the person’s customary or primary place of residence, and the UAE is the focus of their financial and personal activities, among other requirements and specifications stated in a particular decision (to be) made by the UAE MoF.
    2. The person has resided physically in the UAE for at least 183 days throughout the span of a 12-month period.
    3. The person is a GCC national, a resident of the UAE, or a citizen of the UAE who has physically resided in the country for at least 90 days in the past 12 months.
      • Stay permanently in the United Arab Emirates; or
      • Operates a company or an employment in the UAE

    III. International agreements being implemented

    The resolution stipulates that an international agreement should remain in effect if it lays forth specific requirements for assessing tax residency. Therefore, UAE people will have to look to the precise criteria outlined in the international agreement itself for determining their tax residence for the intention of implementing an international agreement.

    IV. Competencies and Cooperation with Authority

    For the purpose of carrying out the terms of this resolution, the authority can ask all state government agencies for any information, facts, or related documents about any person.

    For the purposes of carrying out the terms of this resolution, all state government agencies are required to fully cooperate with the Authority. This includes giving the authority any material, data, or records it requests about any person.

    Bottom Line

    Businesses and individuals in the UAE should adhere to the resolution’s criteria in order to properly determine their resident status for tax purposes in the UAE. This is a really remarkable development that will guarantee conformity with procedures used in other nations and therefore provide an unbiased basis.

     

    Would you like to rate us on Google?         

     

    Varun R Chandra
    Varun R Chandra
    07:38 25 Apr 21
    HLB Hamt is highly recommended! They have the quality of services that would satisfy your needs. I'm glad I found them.
    Giuseppe Assi
    Giuseppe Assi
    06:20 31 Jan 21
    I HAD A GOOD EXPERIENCE WITH HLB HAMT DUBAI. THEY HAVE A VERY PROFESSIONAL TEAM, GOOD QUALITY OF SERVICES, GOOD VALUE... FOR PRICE.I RECOMMEND THIS COMPANY.read more
    Mohamed Sheriff
    Mohamed Sheriff
    16:16 28 Jun 20
    Experience with HLB Hamt in audit experience is great pleasure. They deploy well qualified accounts team for audits.... And the amount of checking they perform give the management of the company confidence that internal controls are well in place. We are glad to see they have high standard of audit practices.read more
    218141 JOSEPH THOMAS
    218141 JOSEPH THOMAS
    16:20 23 Jun 20
    Professionally managed firm with commitment to the engagements taken. My company and its group are assigning our... requirements for last 12 years to HLB and we don’t have any negative remarks on any assignments.read more
    PMI
    PMI
    07:14 23 Jun 20
    In my opinion, HLB Hamt is one of the best professional firms in UAE after big4. Excellent client service, professional... and competent staff and timely delivery are their strength. Over the years they have developed the infrastructure and skill set to handle multiple verticals ie, audit, tax services, consulting, IT support etc.Wishing HLB Hamt team all the very best.read more
    RAVI CHOKSI
    RAVI CHOKSI
    08:28 21 Jun 20
    Thank you Team HLB hamt...Your internal auditing team put the good amount of time and inputs in helping the... organisation making considerable improvements throughout the organisational working structure and helps in building the better business.Thanks.read more
    Maharajan Subramaniam
    Maharajan Subramaniam
    18:17 06 Jun 20
    High-Performing IT Teams, I'm impressed with the knowledge level of their deputed staff, audit procedures, and... checklist adopted. Mr. Vimal especially understand the requirement and provide solution not only technical feasibility and also considered budgeting. We’re confident in their abilities.read more
    Mohammed L
    Mohammed L
    08:07 05 Jun 20
    We have been working closely with them on payroll services for quite sometime.They provide very professional... services,experts in domain and excellent support. Would recommend them.Cheers.read more
    ROY ROSHAN VIVIAN
    ROY ROSHAN VIVIAN
    06:32 04 Jun 20
    Very professional team. Vimal has always given us good solution advice for various Software and IT Infra projects. We... are very Extremely satisfied working with him and his team. Wishing them success.read more
    Basil Daniells
    Basil Daniells
    05:55 03 Jun 20
    I have worked with HLB as a partner of Sage for about 2 years, they were dedicated to the success of the partnership... and kept aligned with the business plan that was agreed between our two companies. They are always ready to go the extra mile for a customer and don’t shy away from challenging circumstances. Keep up the good work and wish you all the success in the future.read more
    Amar Kashyap
    Amar Kashyap
    19:28 02 Jun 20
    Team of well qualified and organised professionals. Their reports are not based on numbers first they will understand... their client and their business. They are highly recommended and trust worthy.read more
    Radz de Jesus
    Radz de Jesus
    16:03 02 Jun 20
    We're glad to have found HLB Hamt to conduct the IT audit and risk assessment for our organization. We have learned a... lot from their team during that first project. And since then, we've continued to be in touch with them. Mr. Vimal especially is very good at presenting technical concepts in simple yet interesting ways that non-IT and business people alike would easily catch. We are very happy with the professionalism and quality of service they provide. They leave their clients nothing short of satisfied. Highly recommended.read more
    Next Reviews
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    Best 5 benefits for business setup in Dubai Media City Free Zone

    HLB HAMT

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    HLB HAMT - Accounting Firm in UAE

    Phone:- +971 4 327 7775
    Mobile:- +971 55 160 1291
    WhatsApp:- +971 56 219 1607
    Email:- dubai@hlbhamt.com

      Schedule a Consultation






      Dubai Media City is a leading free zone dedicated to promoting the UAE’s media and advertising sectors. Business Setup in Dubai Media City gives a significant benefit to media and advertising organizations by providing an environment in which they can exhibit their talent, their products, and services and engage with some of the UAE’s leading marketing companies. Set up a Company in Dubai Media City with HLB HAMT business consultants to create a way to your success.

      • The media and entertainment sector in Dubai, United Arab Emirates, is vast. In the Middle East, UAE is the centre of print, television, radio, and internet media.
      • The city has drawn international media companies, including major news organizations, publishing corporations and social media behemoths.

      Why Dubai: Advantages of setting up a media company in Dubai/UAE?

      The Dubai government has continued to work on improving the Emirate’s reputation as a media hub and launching new measures to make it easier for investors to establish a media firm in Dubai. Business Setup in Dubai Media City Free Zone gives several advantages.

      • 100% foreign ownership.
      • The ideal business environment for all media players.
      • There are no personal or import duties.
      • You may achieve fame and success because the location is perfect for growth and partnerships.
      • Dubai has high-quality infrastructure.
      • A one-stop shop for government services.
      • 100% repatriation of capital and profits.
      • Cluster working place for various media firms to work, collaborate, and cooperate.

      In Dubai, you may set up your media firm in three zones

      • Dubai Media City

        With over 2,500 media enterprises and over 25,000 workers and investors, it is the largest media centre in the region. This media zone is home to CNN, Thomson Reuters, and the BBC.

      • Dubai Production City

        Dubai Production City provides a global ecosystem for media production, printing, publishing, and packaging industries. It is home to more than 220 businesses and around 6,800 professionals.

      • Dubai Studio City

        Over 220 businesses and 2,500 individuals work and invest in the region’s main business community.

      How can I establish a media firm in Dubai/UAE?

      Before proceeding, it is critical to determine the types of commercial operations that are permitted in a certain media center/zone. The following business activities are permitted: Broadcasting, publishing, advertising, public relations, market/media research, digital marketing, music, and post-production.

      Although the process of establishing a media company in Dubai is flexible, you should keep the following things in mind to ensure a successful business establishment:

      • Dubai Media and Technology-Free Zone Authority oversees and approves the registration of all DMC enterprises.
      • The first step in establishing a media firm in Dubai/UAE is to fill out the application form on the internet portal and submit it to the DTMFZ. The application will subsequently be examined within 5 days and accepted by the authorities.
      • Once the paperwork is authorized, present all legal documents and photocopies. After reviewing all legal documentation, DMC gives a letter of affirmation.
      • This is followed by the applicant’s customer confirmation, to which you must respond as soon as possible.
      • A Memorandum of Association (MOA) is signed in the presence of the company’s stakeholders.
      • Following the submission of the full share capital license and lease will be produced.
      • The signing of a lease and an individual sponsorship contract to obtain the license for establishing a media firm in Dubai/UAE.

      Things to consider before starting a media firm in Dubai/UAE

      • Office space requirements

        DMC allows investors to start a business without real office space and Free Zones to utilize as your registered company address. It also provides access to Dubai Media City’s commercial centre, which offers visa and document processing, distribution, and mail collection. Businesses in some areas, such as publishing and other associated operations, must maintain physical office space.

      • Establishing a Corporate Bank Account

        Setting up a Corporate Bank Account is a smooth process. It is essential to make sure that you have a bank account. DMC simplifies the procedure for you, and it is the first step you do after obtaining a media firm business license.

      • Sponsoring

        Acquiring a visa for a media firm in any of the zones is simple for you and your dependents, but it must be done appropriately following due process. It is simple to apply for visas for yourself, employees, and dependents if you match special conditions.

       

      Would you like to rate us on Google?         

       

      Varun R Chandra
      Varun R Chandra
      07:38 25 Apr 21
      HLB Hamt is highly recommended! They have the quality of services that would satisfy your needs. I'm glad I found them.
      Giuseppe Assi
      Giuseppe Assi
      06:20 31 Jan 21
      I HAD A GOOD EXPERIENCE WITH HLB HAMT DUBAI. THEY HAVE A VERY PROFESSIONAL TEAM, GOOD QUALITY OF SERVICES, GOOD VALUE... FOR PRICE.I RECOMMEND THIS COMPANY.read more
      Mohamed Sheriff
      Mohamed Sheriff
      16:16 28 Jun 20
      Experience with HLB Hamt in audit experience is great pleasure. They deploy well qualified accounts team for audits.... And the amount of checking they perform give the management of the company confidence that internal controls are well in place. We are glad to see they have high standard of audit practices.read more
      218141 JOSEPH THOMAS
      218141 JOSEPH THOMAS
      16:20 23 Jun 20
      Professionally managed firm with commitment to the engagements taken. My company and its group are assigning our... requirements for last 12 years to HLB and we don’t have any negative remarks on any assignments.read more
      PMI
      PMI
      07:14 23 Jun 20
      In my opinion, HLB Hamt is one of the best professional firms in UAE after big4. Excellent client service, professional... and competent staff and timely delivery are their strength. Over the years they have developed the infrastructure and skill set to handle multiple verticals ie, audit, tax services, consulting, IT support etc.Wishing HLB Hamt team all the very best.read more
      RAVI CHOKSI
      RAVI CHOKSI
      08:28 21 Jun 20
      Thank you Team HLB hamt...Your internal auditing team put the good amount of time and inputs in helping the... organisation making considerable improvements throughout the organisational working structure and helps in building the better business.Thanks.read more
      Maharajan Subramaniam
      Maharajan Subramaniam
      18:17 06 Jun 20
      High-Performing IT Teams, I'm impressed with the knowledge level of their deputed staff, audit procedures, and... checklist adopted. Mr. Vimal especially understand the requirement and provide solution not only technical feasibility and also considered budgeting. We’re confident in their abilities.read more
      Mohammed L
      Mohammed L
      08:07 05 Jun 20
      We have been working closely with them on payroll services for quite sometime.They provide very professional... services,experts in domain and excellent support. Would recommend them.Cheers.read more
      ROY ROSHAN VIVIAN
      ROY ROSHAN VIVIAN
      06:32 04 Jun 20
      Very professional team. Vimal has always given us good solution advice for various Software and IT Infra projects. We... are very Extremely satisfied working with him and his team. Wishing them success.read more
      Basil Daniells
      Basil Daniells
      05:55 03 Jun 20
      I have worked with HLB as a partner of Sage for about 2 years, they were dedicated to the success of the partnership... and kept aligned with the business plan that was agreed between our two companies. They are always ready to go the extra mile for a customer and don’t shy away from challenging circumstances. Keep up the good work and wish you all the success in the future.read more
      Amar Kashyap
      Amar Kashyap
      19:28 02 Jun 20
      Team of well qualified and organised professionals. Their reports are not based on numbers first they will understand... their client and their business. They are highly recommended and trust worthy.read more
      Radz de Jesus
      Radz de Jesus
      16:03 02 Jun 20
      We're glad to have found HLB Hamt to conduct the IT audit and risk assessment for our organization. We have learned a... lot from their team during that first project. And since then, we've continued to be in touch with them. Mr. Vimal especially is very good at presenting technical concepts in simple yet interesting ways that non-IT and business people alike would easily catch. We are very happy with the professionalism and quality of service they provide. They leave their clients nothing short of satisfied. Highly recommended.read more
      Next Reviews
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      Top Factors for Business Setup in Dubai Silicon OASIS

      HLB HAMT

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      HLB HAMT - Accounting Firm in UAE

      Phone:- +971 4 327 7775
      Mobile:- +971 55 160 1291
      WhatsApp:- +971 56 219 1607
      Email:- dubai@hlbhamt.com

        Schedule a Consultation






        Top Factors for Business Setup in Dubai Silicon OASIS

        Dubai Silicon Oasis (DSO) is a completely government-owned free zone in Dubai established in 2004. Being considered the only technology park that offers opportunities for people to live, work, and play, DSO has gained popularity among professionals and families. The luxurious lifestyle, equipped with a gym, pools, and other recreational facilities along with the luscious greenery in the region is making DSO indeed an oasis of serenity and merriment.

        DSO is constantly maximizing its advantages by providing an integrated ecosystem that fosters entrepreneurship and technology through collaboration and other sustainable practices. Dubai Silicon Oasis has become the major destination for people who seek an all-encompassing community lifestyle. Industries based on the latest technology, ultra-modern infrastructure, and various internal business services, Dubai Silicon Oasis (DSO)makes it easy for people to collaborate, and also for coming up with innovative and highly beneficial solutions that maximize the productivity of businesses.

        Major Business activities in DSO

        • Technology & Design
        • Transportation & Logistics
        • Manufacturing & Construction
        • Food & Beverage
        • Professional Services
        • Consultancy
        • Hospitality
        • Waste management
        • Health
        • Marketing
        • Education
        • Tourism
        • Trading

        Benefits of company formation in DSO

        • 100% foreign ownership
        • 100% repatriation of capital
        • Zero income tax
        • No import or export tax
        • State-of-the-art IT infrastructure
        • Easy, quick, and cost-effective setup process
        • Variety of offices and warehousing facilities
        • Wide range of IT and technology business activities
        • Access to highly talented technical and engineering professionals whenever you need them.
        • No restriction on hiring foreign employees.
        • No restraints over capital nationality
        • Simple customs clearance process
        • Speedy processing of employee visa

        Types of business setup in DSO

        Free zone Establishment (FZE)

        • The companies registered by one shareholder can establish a business in DSO.
        • An individual or corporate can become the shareholder.

        Free zone Company (FZCO)

        • The companies registered with a minimum of 2 shareholders can initiate business in DSO.
        • An individual or a corporate can become the shareholder.

        Branch

        • Branch of an already established foreign company or a company in the UAE can register in DSO.
        • Business activities performed by the branch must match with the business activities done by the parent company.

        Type of licenses offered in DSO

        Service license – Companies that provide accounting and business consulting services can apply for a service license. The company can provide only those services that are mentioned in the license.

        Trade license – A Trade license allows you to import, export, and trade the items specified in the license.

        Industrial license – If your business requires to do activities such as importing raw materials, manufacturing, processing, assembling, packaging, and exporting the final product, then you must obtain the industrial license from the DSO authority.

        Business setup process in DSO

        Submit an application form

        • Register on DSOA’s customer portal.
        • Download the application form.
        • Add the required details in the application form and submit it.

        Submit the pre-approval documents

        • Submit the pre-approval documents for review.
        • After review, the authority grants the initial approval.

        Submit the legal documents and pay the required fee.

        Issue E-Agreement

        • Issue lease agreement
        • The Digital agreement shall be sent to the client’s registered email address.

        Submit the signed e-agreement and share capital letter

        • Clients must sign the e-agreement.
        • Send it back to the authority with the share capital letter (share capital letter is only applicable to FZE and FZCO)
        • 0% minimum paid-up share capital.

        Issuance of e-license

        Required Documents for registering your business in DSO

        • Application Form
        • Letter of Intent
        • Passport Copy
        • NOC for UAE residents only
        • Audited financial report or Bank statement/reference letter
        • Company business plan

        Facilities available in DSO

        • Warehouses
        • Serviced offices
        • Industrial lands
        • virtual and Flexi desks
        • Retail outlets

        HLB HAMT to Assist!

        Our success is bound to the satisfaction of our clients. With our happy clients across the world, HLB HAMT has become the most advantageous organization entrepreneurs can rely upon. We are diligent in providing transparent and secure services to every kind of business venture. Our experienced professionals will listen to your needs and give suggestions to get things done without any headaches. If you are seeking guidance in setting up your business in Dubai Silicon Oasis, you are in the right place. Give us a call to know more about the procedures and special offers that DSO provides. We are available round the clock.

         

        Would you like to rate us on Google?         

         

        Varun R Chandra
        Varun R Chandra
        07:38 25 Apr 21
        HLB Hamt is highly recommended! They have the quality of services that would satisfy your needs. I'm glad I found them.
        Giuseppe Assi
        Giuseppe Assi
        06:20 31 Jan 21
        I HAD A GOOD EXPERIENCE WITH HLB HAMT DUBAI. THEY HAVE A VERY PROFESSIONAL TEAM, GOOD QUALITY OF SERVICES, GOOD VALUE... FOR PRICE.I RECOMMEND THIS COMPANY.read more
        Mohamed Sheriff
        Mohamed Sheriff
        16:16 28 Jun 20
        Experience with HLB Hamt in audit experience is great pleasure. They deploy well qualified accounts team for audits.... And the amount of checking they perform give the management of the company confidence that internal controls are well in place. We are glad to see they have high standard of audit practices.read more
        218141 JOSEPH THOMAS
        218141 JOSEPH THOMAS
        16:20 23 Jun 20
        Professionally managed firm with commitment to the engagements taken. My company and its group are assigning our... requirements for last 12 years to HLB and we don’t have any negative remarks on any assignments.read more
        PMI
        PMI
        07:14 23 Jun 20
        In my opinion, HLB Hamt is one of the best professional firms in UAE after big4. Excellent client service, professional... and competent staff and timely delivery are their strength. Over the years they have developed the infrastructure and skill set to handle multiple verticals ie, audit, tax services, consulting, IT support etc.Wishing HLB Hamt team all the very best.read more
        RAVI CHOKSI
        RAVI CHOKSI
        08:28 21 Jun 20
        Thank you Team HLB hamt...Your internal auditing team put the good amount of time and inputs in helping the... organisation making considerable improvements throughout the organisational working structure and helps in building the better business.Thanks.read more
        Maharajan Subramaniam
        Maharajan Subramaniam
        18:17 06 Jun 20
        High-Performing IT Teams, I'm impressed with the knowledge level of their deputed staff, audit procedures, and... checklist adopted. Mr. Vimal especially understand the requirement and provide solution not only technical feasibility and also considered budgeting. We’re confident in their abilities.read more
        Mohammed L
        Mohammed L
        08:07 05 Jun 20
        We have been working closely with them on payroll services for quite sometime.They provide very professional... services,experts in domain and excellent support. Would recommend them.Cheers.read more
        ROY ROSHAN VIVIAN
        ROY ROSHAN VIVIAN
        06:32 04 Jun 20
        Very professional team. Vimal has always given us good solution advice for various Software and IT Infra projects. We... are very Extremely satisfied working with him and his team. Wishing them success.read more
        Basil Daniells
        Basil Daniells
        05:55 03 Jun 20
        I have worked with HLB as a partner of Sage for about 2 years, they were dedicated to the success of the partnership... and kept aligned with the business plan that was agreed between our two companies. They are always ready to go the extra mile for a customer and don’t shy away from challenging circumstances. Keep up the good work and wish you all the success in the future.read more
        Amar Kashyap
        Amar Kashyap
        19:28 02 Jun 20
        Team of well qualified and organised professionals. Their reports are not based on numbers first they will understand... their client and their business. They are highly recommended and trust worthy.read more
        Radz de Jesus
        Radz de Jesus
        16:03 02 Jun 20
        We're glad to have found HLB Hamt to conduct the IT audit and risk assessment for our organization. We have learned a... lot from their team during that first project. And since then, we've continued to be in touch with them. Mr. Vimal especially is very good at presenting technical concepts in simple yet interesting ways that non-IT and business people alike would easily catch. We are very happy with the professionalism and quality of service they provide. They leave their clients nothing short of satisfied. Highly recommended.read more
        Next Reviews
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        Transfer Pricing Leader | Jayakrishnan & Girish Nair | TP Podcasts UAE – Ep 01

        January 23, 2023

        HLB HAMT - Accounting Firm in UAE

        Phone:- +971 4 327 7775
        WhatsApp:- +971 56 219 1607
        Email:- dubai@hlbhamt.com

          Schedule a Consultation






          In this episode” Meet our Global Transfer Pricing Leader – Part 01″ features our experts Mr. Jayakrishnan (Tax & Compliance Partner) and Mr. Girish Nair (Tax Manager) having an insightful discussion with Mr. Carlos Camacho (Global Transfer Pricing Leader, HLB International) regarding the implementation of transfer pricing regulations in the UAE.

          Subscribe to our podcast

           

          Would you like to rate us on Google?         

           

          Varun R Chandra
          Varun R Chandra
          07:38 25 Apr 21
          HLB Hamt is highly recommended! They have the quality of services that would satisfy your needs. I'm glad I found them.
          Giuseppe Assi
          Giuseppe Assi
          06:20 31 Jan 21
          I HAD A GOOD EXPERIENCE WITH HLB HAMT DUBAI. THEY HAVE A VERY PROFESSIONAL TEAM, GOOD QUALITY OF SERVICES, GOOD VALUE... FOR PRICE.I RECOMMEND THIS COMPANY.read more
          Mohamed Sheriff
          Mohamed Sheriff
          16:16 28 Jun 20
          Experience with HLB Hamt in audit experience is great pleasure. They deploy well qualified accounts team for audits.... And the amount of checking they perform give the management of the company confidence that internal controls are well in place. We are glad to see they have high standard of audit practices.read more
          218141 JOSEPH THOMAS
          218141 JOSEPH THOMAS
          16:20 23 Jun 20
          Professionally managed firm with commitment to the engagements taken. My company and its group are assigning our... requirements for last 12 years to HLB and we don’t have any negative remarks on any assignments.read more
          PMI
          PMI
          07:14 23 Jun 20
          In my opinion, HLB Hamt is one of the best professional firms in UAE after big4. Excellent client service, professional... and competent staff and timely delivery are their strength. Over the years they have developed the infrastructure and skill set to handle multiple verticals ie, audit, tax services, consulting, IT support etc.Wishing HLB Hamt team all the very best.read more
          RAVI CHOKSI
          RAVI CHOKSI
          08:28 21 Jun 20
          Thank you Team HLB hamt...Your internal auditing team put the good amount of time and inputs in helping the... organisation making considerable improvements throughout the organisational working structure and helps in building the better business.Thanks.read more
          Maharajan Subramaniam
          Maharajan Subramaniam
          18:17 06 Jun 20
          High-Performing IT Teams, I'm impressed with the knowledge level of their deputed staff, audit procedures, and... checklist adopted. Mr. Vimal especially understand the requirement and provide solution not only technical feasibility and also considered budgeting. We’re confident in their abilities.read more
          Mohammed L
          Mohammed L
          08:07 05 Jun 20
          We have been working closely with them on payroll services for quite sometime.They provide very professional... services,experts in domain and excellent support. Would recommend them.Cheers.read more
          ROY ROSHAN VIVIAN
          ROY ROSHAN VIVIAN
          06:32 04 Jun 20
          Very professional team. Vimal has always given us good solution advice for various Software and IT Infra projects. We... are very Extremely satisfied working with him and his team. Wishing them success.read more
          Basil Daniells
          Basil Daniells
          05:55 03 Jun 20
          I have worked with HLB as a partner of Sage for about 2 years, they were dedicated to the success of the partnership... and kept aligned with the business plan that was agreed between our two companies. They are always ready to go the extra mile for a customer and don’t shy away from challenging circumstances. Keep up the good work and wish you all the success in the future.read more
          Amar Kashyap
          Amar Kashyap
          19:28 02 Jun 20
          Team of well qualified and organised professionals. Their reports are not based on numbers first they will understand... their client and their business. They are highly recommended and trust worthy.read more
          Radz de Jesus
          Radz de Jesus
          16:03 02 Jun 20
          We're glad to have found HLB Hamt to conduct the IT audit and risk assessment for our organization. We have learned a... lot from their team during that first project. And since then, we've continued to be in touch with them. Mr. Vimal especially is very good at presenting technical concepts in simple yet interesting ways that non-IT and business people alike would easily catch. We are very happy with the professionalism and quality of service they provide. They leave their clients nothing short of satisfied. Highly recommended.read more
          Next Reviews
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          Related content

          The UAE revises the minimum age for starting a business

          Rajesh R Pillai

          image

          HLB HAMT - Accounting Firm in UAE

          Phone:- +971 4 327 7775
          Mobile:- +971 55 160 1291
          WhatsApp:- +971 56 219 1607
          Email:- dubai@hlbhamt.com

            Schedule a Consultation






            As per the UAE’s updated Commercial Transaction Law, which is now in effect, it is legal for a resident of the country or any person of sound mind who attains the age of 18 to start a business or engage in trade.

            The UAE’s legislation on this subject is now aligned with the majority of international norms since the age restriction has been lowered from 21 years. The age modification will be very helpful for long term planning at family-owned enterprises, in addition to the apparent boost it offers the youngsters seeking an early entry into entrepreneurship.

            The following are some of the new Commercial Transactions Law’s most salient characteristics:

            • It lowers the legal minimum age to operate a business to 18 years.
            • It provides assistance to companies involved in the technology industry and in commercial ventures involving digital sectors.
            • To encourage investment and provide companies more opportunity for growth and competitiveness, the law creates a legal standard for commercial transactions for banking firms.
            • The law updates rules relating to the formation and supervision of financial institutions and mandates the acquisition of the required licenses in compliance with the country’s securities legislation.
            • It promotes Islamic banking as one of the primary development factors in the nation and provides assistance for it.

            The age restriction has been lowered to 18 years old to highlight the importance of giving the next generation the freedom to choose how to develop their professions. The updated law also gives teenagers in the nation greater responsibility because more of them want to start their own businesses or become employed.

            If you are planning to set up a business in the UAE, HLB HAMT can provide assistance. Our professional team is always accessible to hear about your requirements and plans. We offer suggestions and ideal options to support you in effectively starting your business.

             

            Would you like to rate us on Google?         

             

            Varun R Chandra
            Varun R Chandra
            07:38 25 Apr 21
            HLB Hamt is highly recommended! They have the quality of services that would satisfy your needs. I'm glad I found them.
            Giuseppe Assi
            Giuseppe Assi
            06:20 31 Jan 21
            I HAD A GOOD EXPERIENCE WITH HLB HAMT DUBAI. THEY HAVE A VERY PROFESSIONAL TEAM, GOOD QUALITY OF SERVICES, GOOD VALUE... FOR PRICE.I RECOMMEND THIS COMPANY.read more
            Mohamed Sheriff
            Mohamed Sheriff
            16:16 28 Jun 20
            Experience with HLB Hamt in audit experience is great pleasure. They deploy well qualified accounts team for audits.... And the amount of checking they perform give the management of the company confidence that internal controls are well in place. We are glad to see they have high standard of audit practices.read more
            218141 JOSEPH THOMAS
            218141 JOSEPH THOMAS
            16:20 23 Jun 20
            Professionally managed firm with commitment to the engagements taken. My company and its group are assigning our... requirements for last 12 years to HLB and we don’t have any negative remarks on any assignments.read more
            PMI
            PMI
            07:14 23 Jun 20
            In my opinion, HLB Hamt is one of the best professional firms in UAE after big4. Excellent client service, professional... and competent staff and timely delivery are their strength. Over the years they have developed the infrastructure and skill set to handle multiple verticals ie, audit, tax services, consulting, IT support etc.Wishing HLB Hamt team all the very best.read more
            RAVI CHOKSI
            RAVI CHOKSI
            08:28 21 Jun 20
            Thank you Team HLB hamt...Your internal auditing team put the good amount of time and inputs in helping the... organisation making considerable improvements throughout the organisational working structure and helps in building the better business.Thanks.read more
            Maharajan Subramaniam
            Maharajan Subramaniam
            18:17 06 Jun 20
            High-Performing IT Teams, I'm impressed with the knowledge level of their deputed staff, audit procedures, and... checklist adopted. Mr. Vimal especially understand the requirement and provide solution not only technical feasibility and also considered budgeting. We’re confident in their abilities.read more
            Mohammed L
            Mohammed L
            08:07 05 Jun 20
            We have been working closely with them on payroll services for quite sometime.They provide very professional... services,experts in domain and excellent support. Would recommend them.Cheers.read more
            ROY ROSHAN VIVIAN
            ROY ROSHAN VIVIAN
            06:32 04 Jun 20
            Very professional team. Vimal has always given us good solution advice for various Software and IT Infra projects. We... are very Extremely satisfied working with him and his team. Wishing them success.read more
            Basil Daniells
            Basil Daniells
            05:55 03 Jun 20
            I have worked with HLB as a partner of Sage for about 2 years, they were dedicated to the success of the partnership... and kept aligned with the business plan that was agreed between our two companies. They are always ready to go the extra mile for a customer and don’t shy away from challenging circumstances. Keep up the good work and wish you all the success in the future.read more
            Amar Kashyap
            Amar Kashyap
            19:28 02 Jun 20
            Team of well qualified and organised professionals. Their reports are not based on numbers first they will understand... their client and their business. They are highly recommended and trust worthy.read more
            Radz de Jesus
            Radz de Jesus
            16:03 02 Jun 20
            We're glad to have found HLB Hamt to conduct the IT audit and risk assessment for our organization. We have learned a... lot from their team during that first project. And since then, we've continued to be in touch with them. Mr. Vimal especially is very good at presenting technical concepts in simple yet interesting ways that non-IT and business people alike would easily catch. We are very happy with the professionalism and quality of service they provide. They leave their clients nothing short of satisfied. Highly recommended.read more
            Next Reviews
            js_loader

            Offshore Company Formation UAE

            HLB HAMT

            image

            HLB HAMT - Accounting Firm in UAE
            Phone:- +971 4 327 7775
            Mobile:- +971 55 160 1291
            WhatsApp:- +971 56 219 1607
            Email:- dubai@hlbhamt.com

              Schedule a Consultation






              The United Arab Emirates has opened its doors to business for people to set up offshore companies there. HLB HAMT Business Setup consultants can help you register an offshore company in UAE. We assist you in obtaining incorporation certificates and other necessary approvals to rapidly and securely set up an offshore company. Investors get attracted to the country for a variety of reasons, including the following:

              • Laws that are favorable to business
              • International financial accessibility
              • A good legal foundation
              • Highest level of connection and infrastructure

              The following are the stages involved in establishing an offshore company in the UAE:

              An offshore organization makes it simple to set up a digital office in Dubai, making it an attractive option for worldwide expansion. The procedure of establishing an offshore business is simple.

              • Pick a company name

                It is crucial to give your business a name once you’ve determined its purpose. There are a few factors to consider when naming a firm in the United Arab Emirates.

              • Apply for a business license

                After choosing a name for the company, applicants must fill out an application form and submit some supporting materials, including a well-written business plan, copies of the shareholders’ and directors’ passports, the shareholders’ resumes, and the addresses and identity proof of the shareholders and directors.

              • Documents to be submitted

                After obtaining the relevant paperwork, it is time to submit it to the appropriate authorities, who will review it and provide the required licenses.

              • Articles of Association and the Memorandum are presented

                You must draft the Memorandum of Association (MOA) and Articles of Association (AOA) in English. The firm can begin operations after the authorities review the paperwork.

              • Opening a Bank Account

                By opening an offshore bank account business owners can conduct transactions more quickly.

              Pros of Establishing an Offshore Company in Dubai

              • Many tax benefits

                You may keep all the profits from an offshore business you establish in Dubai because it is tax-free. The region’s economy has grown because of the tax reductions, which have attracted investors.

              • 100 percent foreign ownership

                Another advantage is that the UAE allows foreign business owners to retain full ownership of their enterprises. You can also do all your business in confidentiality.

              • Confidentiality

                If you want to operate with more discretion, setting up an offshore company in the UAE stands to reason. The directors’ and stockholders’ names are not widely known. Although, you have to inform the Company Registry of these.

              • Your financial investments are secure

                The United Arab Emirates offers asset protection. It varies according to where your business is registered.

              • Registered Agent required

                A registered agent is required for opening an offshore company in the UAE.

              • Lower operating expenses

                You won’t need to rent office space or pay people to be compliant because there are fewer legal obligations for reporting.

              • Strong legal grounds

                A lawsuit could force a business into bankruptcy. Thankfully, if the worst happens, your entire wealth, including your ones, will be secured.

              • Banks with multi-currency options

                Multi-currency bank accounts enable cross-border commercial transactions and provide financial security.

              Forming an Offshore Company in the UAE: Required Documents

              • Proof of residence
              • A resume with the owner’s qualifications
              • Passport copy of the designated manager
              • A business plan
              • copies of the shareholders’ and the owner’s passports
              • Memorandum of Association (MOA)
              • A bank reference letter and bank documentation verifying the information

              Hassle-free, tax-free, and secure offshore company formation in UAE with HLB HAMT

              Offshore companies in the UAE benefit from a tax haven unlike any other. Numerous nations offer tax advantages and have a reputation for safeguarding assets and financial data. Offshore companies have been identified as the best and safest tax haven for company incorporation. Offshore companies in UAE are considered legitimate, legal businesses, so you can conduct business anywhere in the Middle East.

              HLB HAMT is also a registered agent offering offshore business setup services across several emirates. UAE offshore company formation services are the easiest and most reasonably priced. Offshore business setup UAE packages from HLB HAMT provide speedy, secure, and hassle-free solutions. We assist you in setting up your offshore company by helping you register your business, obtain your firm’s incorporation certificate, open offshore bank accounts, and more.

               

              Would you like to rate us on Google?         

               

              Varun R Chandra
              Varun R Chandra
              07:38 25 Apr 21
              HLB Hamt is highly recommended! They have the quality of services that would satisfy your needs. I'm glad I found them.
              Giuseppe Assi
              Giuseppe Assi
              06:20 31 Jan 21
              I HAD A GOOD EXPERIENCE WITH HLB HAMT DUBAI. THEY HAVE A VERY PROFESSIONAL TEAM, GOOD QUALITY OF SERVICES, GOOD VALUE... FOR PRICE.I RECOMMEND THIS COMPANY.read more
              Mohamed Sheriff
              Mohamed Sheriff
              16:16 28 Jun 20
              Experience with HLB Hamt in audit experience is great pleasure. They deploy well qualified accounts team for audits.... And the amount of checking they perform give the management of the company confidence that internal controls are well in place. We are glad to see they have high standard of audit practices.read more
              218141 JOSEPH THOMAS
              218141 JOSEPH THOMAS
              16:20 23 Jun 20
              Professionally managed firm with commitment to the engagements taken. My company and its group are assigning our... requirements for last 12 years to HLB and we don’t have any negative remarks on any assignments.read more
              PMI
              PMI
              07:14 23 Jun 20
              In my opinion, HLB Hamt is one of the best professional firms in UAE after big4. Excellent client service, professional... and competent staff and timely delivery are their strength. Over the years they have developed the infrastructure and skill set to handle multiple verticals ie, audit, tax services, consulting, IT support etc.Wishing HLB Hamt team all the very best.read more
              RAVI CHOKSI
              RAVI CHOKSI
              08:28 21 Jun 20
              Thank you Team HLB hamt...Your internal auditing team put the good amount of time and inputs in helping the... organisation making considerable improvements throughout the organisational working structure and helps in building the better business.Thanks.read more
              Maharajan Subramaniam
              Maharajan Subramaniam
              18:17 06 Jun 20
              High-Performing IT Teams, I'm impressed with the knowledge level of their deputed staff, audit procedures, and... checklist adopted. Mr. Vimal especially understand the requirement and provide solution not only technical feasibility and also considered budgeting. We’re confident in their abilities.read more
              Mohammed L
              Mohammed L
              08:07 05 Jun 20
              We have been working closely with them on payroll services for quite sometime.They provide very professional... services,experts in domain and excellent support. Would recommend them.Cheers.read more
              ROY ROSHAN VIVIAN
              ROY ROSHAN VIVIAN
              06:32 04 Jun 20
              Very professional team. Vimal has always given us good solution advice for various Software and IT Infra projects. We... are very Extremely satisfied working with him and his team. Wishing them success.read more
              Basil Daniells
              Basil Daniells
              05:55 03 Jun 20
              I have worked with HLB as a partner of Sage for about 2 years, they were dedicated to the success of the partnership... and kept aligned with the business plan that was agreed between our two companies. They are always ready to go the extra mile for a customer and don’t shy away from challenging circumstances. Keep up the good work and wish you all the success in the future.read more
              Amar Kashyap
              Amar Kashyap
              19:28 02 Jun 20
              Team of well qualified and organised professionals. Their reports are not based on numbers first they will understand... their client and their business. They are highly recommended and trust worthy.read more
              Radz de Jesus
              Radz de Jesus
              16:03 02 Jun 20
              We're glad to have found HLB Hamt to conduct the IT audit and risk assessment for our organization. We have learned a... lot from their team during that first project. And since then, we've continued to be in touch with them. Mr. Vimal especially is very good at presenting technical concepts in simple yet interesting ways that non-IT and business people alike would easily catch. We are very happy with the professionalism and quality of service they provide. They leave their clients nothing short of satisfied. Highly recommended.read more
              Next Reviews
              js_loader

              Get in touch

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

              Start the conversation

              Monthly Tax insights and updates – December 2022

              January 16, 2023

              HLB HAMT - Accounting Firm in UAE

              Phone:- +971 4 327 7775
              Mobile:- +971 50 677 5860
              WhatsApp:- +971 56 219 1607
              Email:- dubai@hlbhamt.com

                Schedule a Consultation






                Described as a historic step in the UAE’s tax history, the introduction of the corporate tax law is one of the leading hot topics for the month of December.

                HLB HAMT presents the December edition of tax insights from our specialists on corporate tax law, evolving tax regulatory reforms, and how they impact businesses across the country.

                 
                Public Consultation Document Issued For UAE Corporate Tax

                 

                Would you like to rate us on Google?         

                 

                Varun R Chandra
                Varun R Chandra
                07:38 25 Apr 21
                HLB Hamt is highly recommended! They have the quality of services that would satisfy your needs. I'm glad I found them.
                Giuseppe Assi
                Giuseppe Assi
                06:20 31 Jan 21
                I HAD A GOOD EXPERIENCE WITH HLB HAMT DUBAI. THEY HAVE A VERY PROFESSIONAL TEAM, GOOD QUALITY OF SERVICES, GOOD VALUE... FOR PRICE.I RECOMMEND THIS COMPANY.read more
                Mohamed Sheriff
                Mohamed Sheriff
                16:16 28 Jun 20
                Experience with HLB Hamt in audit experience is great pleasure. They deploy well qualified accounts team for audits.... And the amount of checking they perform give the management of the company confidence that internal controls are well in place. We are glad to see they have high standard of audit practices.read more
                218141 JOSEPH THOMAS
                218141 JOSEPH THOMAS
                16:20 23 Jun 20
                Professionally managed firm with commitment to the engagements taken. My company and its group are assigning our... requirements for last 12 years to HLB and we don’t have any negative remarks on any assignments.read more
                PMI
                PMI
                07:14 23 Jun 20
                In my opinion, HLB Hamt is one of the best professional firms in UAE after big4. Excellent client service, professional... and competent staff and timely delivery are their strength. Over the years they have developed the infrastructure and skill set to handle multiple verticals ie, audit, tax services, consulting, IT support etc.Wishing HLB Hamt team all the very best.read more
                RAVI CHOKSI
                RAVI CHOKSI
                08:28 21 Jun 20
                Thank you Team HLB hamt...Your internal auditing team put the good amount of time and inputs in helping the... organisation making considerable improvements throughout the organisational working structure and helps in building the better business.Thanks.read more
                Maharajan Subramaniam
                Maharajan Subramaniam
                18:17 06 Jun 20
                High-Performing IT Teams, I'm impressed with the knowledge level of their deputed staff, audit procedures, and... checklist adopted. Mr. Vimal especially understand the requirement and provide solution not only technical feasibility and also considered budgeting. We’re confident in their abilities.read more
                Mohammed L
                Mohammed L
                08:07 05 Jun 20
                We have been working closely with them on payroll services for quite sometime.They provide very professional... services,experts in domain and excellent support. Would recommend them.Cheers.read more
                ROY ROSHAN VIVIAN
                ROY ROSHAN VIVIAN
                06:32 04 Jun 20
                Very professional team. Vimal has always given us good solution advice for various Software and IT Infra projects. We... are very Extremely satisfied working with him and his team. Wishing them success.read more
                Basil Daniells
                Basil Daniells
                05:55 03 Jun 20
                I have worked with HLB as a partner of Sage for about 2 years, they were dedicated to the success of the partnership... and kept aligned with the business plan that was agreed between our two companies. They are always ready to go the extra mile for a customer and don’t shy away from challenging circumstances. Keep up the good work and wish you all the success in the future.read more
                Amar Kashyap
                Amar Kashyap
                19:28 02 Jun 20
                Team of well qualified and organised professionals. Their reports are not based on numbers first they will understand... their client and their business. They are highly recommended and trust worthy.read more
                Radz de Jesus
                Radz de Jesus
                16:03 02 Jun 20
                We're glad to have found HLB Hamt to conduct the IT audit and risk assessment for our organization. We have learned a... lot from their team during that first project. And since then, we've continued to be in touch with them. Mr. Vimal especially is very good at presenting technical concepts in simple yet interesting ways that non-IT and business people alike would easily catch. We are very happy with the professionalism and quality of service they provide. They leave their clients nothing short of satisfied. Highly recommended.read more
                Next Reviews
                js_loader

                Top 10 benefits of an offshore company set up in RAK

                HLB HAMT

                image

                HLB HAMT - Accounting Firm in UAE

                Phone:- +971 4 327 7775
                Mobile:- +971 55 160 1291
                WhatsApp:- +971 56 219 1607
                Email:- dubai@hlbhamt.com

                  Schedule a Consultation






                  The UAE is one of the world’s most popular business locations. Entrepreneurs put their sights on the country’s Mainland, Free Zone, and Offshore areas to establish their businesses. Because of the seclusion and total anonymity that comes with starting a company here, offshore enterprises have become a popular destination for company formation. HLB HAMT consultants as a registered agent help with Offshore Company Formation in Ras Al Khaimah.

                  Advantages of RAK Offshore Company

                  One of the most prestigious offshore locations is Ras Al Khaimah International Corporate Center. It is well-known for being one of the most opulent business places. There are various advantages to doing company here, including 100% foreign ownership, tax breaks, and simple renewals. As if that wasn’t enough, a RAK Offshore business may be founded swiftly with the assistance of HLB HAMT Consultants.

                  The establishment of an offshore company requires the presence of a registered agent authorized by the relevant body. To understand more about business setup in RAK Offshore, our expert consultants help you with the best solutions.

                  Ras Al Khaimah is one of the most appealing offshore locations in the UAE because the establishment fees are significantly lower than those in Dubai, despite offering the same advantages and benefits, such as complete exemption from all corporate and income taxes.

                  What types of commercial activities does RAK provide?

                  RAK serves as a bridge to the global market. The primary business operations that a RAK Offshore firm may do outside of the United Arab Emirates are listed below.

                  General Trading
                  Advising and Consulting Services
                  Holding Firm
                  Professional Services
                  Owning Property
                  Shipping Firm
                  Company for Ship Management
                  Services for Global Commerce

                   
                  If your customers require the firm for Middle Eastern investments, RAK Offshore incorporation is the fastest option. With these business activities, one can flourish and build success. HLB HAMT consultants help you with the right solutions for different operations. We are equipped to help you quickly establish your RAK Offshore Company by guiding you through the complete company formation process.

                  Documents Required for Offshore Company Setup in RAK

                  • Shareholders’ and directors’ passport copies.
                  • Recent utility bill as home evidence.
                  • Copy of most recent UAE entry stamp.
                  • Bank letter of reference.
                  • Business activity.

                  HLB HAMT to Assist

                  HLB HAMT is a registered agent with RAK Offshore and one of the market leaders in offshore business consulting. We provide solutions to customers who want to reduce taxes, preserve assets, and limit liabilities. We provide incorporation services in the UAE’s most prominent offshore centers.

                  If you have all the necessary documentation, it simply takes a day or two to register your RAK Offshore Company. HLB HAMT Consultancy can assist you with company setup in RAK and other services you may require along the route. We believe ourselves to be a company life-cycle consulting organization. So, we’re not just here to help with the start-up; we can also assist with legal advice, paperwork, and other processes that may arise while you’re running your firm.

                   

                  Would you like to rate us on Google?         

                   

                  Varun R Chandra
                  Varun R Chandra
                  07:38 25 Apr 21
                  HLB Hamt is highly recommended! They have the quality of services that would satisfy your needs. I'm glad I found them.
                  Giuseppe Assi
                  Giuseppe Assi
                  06:20 31 Jan 21
                  I HAD A GOOD EXPERIENCE WITH HLB HAMT DUBAI. THEY HAVE A VERY PROFESSIONAL TEAM, GOOD QUALITY OF SERVICES, GOOD VALUE... FOR PRICE.I RECOMMEND THIS COMPANY.read more
                  Mohamed Sheriff
                  Mohamed Sheriff
                  16:16 28 Jun 20
                  Experience with HLB Hamt in audit experience is great pleasure. They deploy well qualified accounts team for audits.... And the amount of checking they perform give the management of the company confidence that internal controls are well in place. We are glad to see they have high standard of audit practices.read more
                  218141 JOSEPH THOMAS
                  218141 JOSEPH THOMAS
                  16:20 23 Jun 20
                  Professionally managed firm with commitment to the engagements taken. My company and its group are assigning our... requirements for last 12 years to HLB and we don’t have any negative remarks on any assignments.read more
                  PMI
                  PMI
                  07:14 23 Jun 20
                  In my opinion, HLB Hamt is one of the best professional firms in UAE after big4. Excellent client service, professional... and competent staff and timely delivery are their strength. Over the years they have developed the infrastructure and skill set to handle multiple verticals ie, audit, tax services, consulting, IT support etc.Wishing HLB Hamt team all the very best.read more
                  RAVI CHOKSI
                  RAVI CHOKSI
                  08:28 21 Jun 20
                  Thank you Team HLB hamt...Your internal auditing team put the good amount of time and inputs in helping the... organisation making considerable improvements throughout the organisational working structure and helps in building the better business.Thanks.read more
                  Maharajan Subramaniam
                  Maharajan Subramaniam
                  18:17 06 Jun 20
                  High-Performing IT Teams, I'm impressed with the knowledge level of their deputed staff, audit procedures, and... checklist adopted. Mr. Vimal especially understand the requirement and provide solution not only technical feasibility and also considered budgeting. We’re confident in their abilities.read more
                  Mohammed L
                  Mohammed L
                  08:07 05 Jun 20
                  We have been working closely with them on payroll services for quite sometime.They provide very professional... services,experts in domain and excellent support. Would recommend them.Cheers.read more
                  ROY ROSHAN VIVIAN
                  ROY ROSHAN VIVIAN
                  06:32 04 Jun 20
                  Very professional team. Vimal has always given us good solution advice for various Software and IT Infra projects. We... are very Extremely satisfied working with him and his team. Wishing them success.read more
                  Basil Daniells
                  Basil Daniells
                  05:55 03 Jun 20
                  I have worked with HLB as a partner of Sage for about 2 years, they were dedicated to the success of the partnership... and kept aligned with the business plan that was agreed between our two companies. They are always ready to go the extra mile for a customer and don’t shy away from challenging circumstances. Keep up the good work and wish you all the success in the future.read more
                  Amar Kashyap
                  Amar Kashyap
                  19:28 02 Jun 20
                  Team of well qualified and organised professionals. Their reports are not based on numbers first they will understand... their client and their business. They are highly recommended and trust worthy.read more
                  Radz de Jesus
                  Radz de Jesus
                  16:03 02 Jun 20
                  We're glad to have found HLB Hamt to conduct the IT audit and risk assessment for our organization. We have learned a... lot from their team during that first project. And since then, we've continued to be in touch with them. Mr. Vimal especially is very good at presenting technical concepts in simple yet interesting ways that non-IT and business people alike would easily catch. We are very happy with the professionalism and quality of service they provide. They leave their clients nothing short of satisfied. Highly recommended.read more
                  Next Reviews
                  js_loader

                  Get in touch

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

                  Start the conversation

                  Sharjah Airport International Free Zone (SAIF)

                  HLB HAMT

                  image

                  HLB HAMT - Accounting Firm in UAE

                  Phone:- +971 4 327 7775
                  Mobile:- +971 55 160 1291
                  WhatsApp:- +971 56 219 1607
                  Email:- dubai@hlbhamt.com

                    Schedule a Consultation






                    The Sharjah Airport International Free Zone (SAIF) is one of the free zones in UAE that fashioned business development in the non-oil industry in a broad manner. Investors across the world view SAIF zone as the ideal place for their company formation after witnessing the incredible increase in the number of companies established there in a short span of time. The journey from just 55 companies in 1995 to more than 8000 companies from 165 countries at present, Sharjah Airport Free zone (SAIF) has emerged as the most favorable destination for setting up businesses. Being adjacent to the Sharjah International Airport and the seaports on the Gulf of Oman (Port Khor Fakkan) and the Arabian Gulf (Port Khalid), the SAIF zone offers the best infrastructure and networking facilities for any kind of business to thrive in. By focusing on bringing maximum efficiency in business, SAIF zone offers numerous competitive benefits to goal-oriented entrepreneurs to manage their businesses with ease.

                    Benefits of launching your business in SAIF

                    • SAIF guarantees the release of licenses and permits within 1 hour
                    • Availability of budget-friendly on-site labor accommodation
                    • 100% Foreign ownership and repatriation of funds without currency restriction
                    • Global and regional transport facilities with high-class sea, land, and air connectivity
                    • No corporate income taxes
                    • No personal income taxes
                    • Complete tax exemption from all import and export obligations
                    • Visas and sponsorship for all the members in the organization
                    • Easy and simple business setup with state-of-the-art infrastructure that aids your needs
                    • Open doors to more than 2 billion customers Strategic location
                    • Full time direct phone line setup and emergency service
                    • On-site customs for fast clearance of goods
                    • Telecom and computer services
                    • Immigration and custom office
                    • Competitiveness in fee, property, and management
                    • Availability of different plot size
                    • F&B outlets at SAIF mall
                    • 24 X 7 Operations

                    Types of licenses in Sharjah Airport International Free zone (SAIF)

                    Business setup in Sharjah Airport International Freezone is a simple and time-saving process that provides cost-effective license packages for various small-scale and large-scale entrepreneurs as per their needs and requirements.

                    • Trade license

                      Two major trade licenses are there.

                      1. Commercial License (standard) – The Standard Commercial License encompasses import, export, delivery, merging, storing, or warehousing of a full range of items of 3 similar product line
                      1. General Trading – A general trading license can be acquired under a commercial license which allows your business to cover a wide range of products such as export, import, re-export, supply, storage, or warehousing.
                    • Service license

                      The holder of the service license can perform the services specified in the license. All kinds of services are permitted by the local or federal authorities. E-commerce, Business consultancy Shipping, & Freight Forwarding are some examples.

                    • Industrial license

                      This license comprises import of the raw materials, treating, manufacturing, handling, assembling, packaging, and exporting the final product. Approval from SAIF Zone Health & Environment Department is mandatory to obtain the license.

                    Types of Offices in Sharjah Airport International Free zone (SAIF)

                    SAIF Zone provides offices that are suitable for both small-scale and large-scale businesses.

                    SAIF Office

                    • A well-equipped, economical furnished space with advanced IT/telecommunications facilities that can be used all day and night on a non-sharing basis
                    • Ideal for consultancy services.
                    • 3 visa quotas included

                    SAIF Executive Office

                    • A semi-furnished space that includes utility charges such as air conditioning, electricity, water, and an advanced IT/telecommunication infrastructure.
                    • The space is customizable
                    • Ideal for commercial and consultancy services.
                    • 5 visa quotas included

                    SAIF Suite

                    • A fully furnished space combined with an executive suite office with advanced IT/telecommunications facilities.
                    • Ideal for commercial, service, and consultancy businesses, secretarial and business center services.
                    • 8 visa quotas included.

                    Types of Legal Entities in the Sharjah Airport International Free zone (SAIF)

                    Either individuals or a corporate entity can set up business in the SAIF zone in any of the following legal forms:

                    • Branch of a Foreign Company
                    • Branch of a UAE/Local Company
                    • Free Zone Establishment (FZE)
                    • Free Zone Company (FZC)

                    Start your business in Sharjah Airport International Free zone (SAIF)

                    The main steps for setting up your business in SAIF Zone are given below

                    • Select your type of license
                    • Select your type of facility
                    • Submit your filled application along with your passport, passport-size photo, residential address, and contact number to the concerned authority
                    • Prepare and submit the company’s Memorandum of Association
                    • Pay the license fee
                    • Open a corporate bank account
                    • Apply for further clearances such as custom registration

                    Once the registration is completed, ensure to collect the following documents

                    • License
                    • Certificate of Incorporation
                    • Memorandum and Articles of Association
                    • Investment Service Agreement
                    • Share Certificate
                    • Lease Agreement

                    HLB HAMT to Assist

                    Do you want to know more details regarding setting up business in Sharjah Airport International Free zone? We are here to help you. Our experienced team will give you a better understanding of the specific rules and regulations that you need to follow in setting up your business in the SAIF zone. Though business registration in the SAIF zone is not that complicated, if you are not well-versed in the laws, your application may get rejected. Our dedicated team will provide you with quick and reliable information to start your business in the SAIF zone by satisfying all your business needs. We will suggest your ideal company formation package and guide you throughout the process to open your business venture in the SAIF zone confidently. Shoot your mail and contact number today itself.

                     

                    Would you like to rate us on Google?         

                     

                    Varun R Chandra
                    Varun R Chandra
                    07:38 25 Apr 21
                    HLB Hamt is highly recommended! They have the quality of services that would satisfy your needs. I'm glad I found them.
                    Giuseppe Assi
                    Giuseppe Assi
                    06:20 31 Jan 21
                    I HAD A GOOD EXPERIENCE WITH HLB HAMT DUBAI. THEY HAVE A VERY PROFESSIONAL TEAM, GOOD QUALITY OF SERVICES, GOOD VALUE... FOR PRICE.I RECOMMEND THIS COMPANY.read more
                    Mohamed Sheriff
                    Mohamed Sheriff
                    16:16 28 Jun 20
                    Experience with HLB Hamt in audit experience is great pleasure. They deploy well qualified accounts team for audits.... And the amount of checking they perform give the management of the company confidence that internal controls are well in place. We are glad to see they have high standard of audit practices.read more
                    218141 JOSEPH THOMAS
                    218141 JOSEPH THOMAS
                    16:20 23 Jun 20
                    Professionally managed firm with commitment to the engagements taken. My company and its group are assigning our... requirements for last 12 years to HLB and we don’t have any negative remarks on any assignments.read more
                    PMI
                    PMI
                    07:14 23 Jun 20
                    In my opinion, HLB Hamt is one of the best professional firms in UAE after big4. Excellent client service, professional... and competent staff and timely delivery are their strength. Over the years they have developed the infrastructure and skill set to handle multiple verticals ie, audit, tax services, consulting, IT support etc.Wishing HLB Hamt team all the very best.read more
                    RAVI CHOKSI
                    RAVI CHOKSI
                    08:28 21 Jun 20
                    Thank you Team HLB hamt...Your internal auditing team put the good amount of time and inputs in helping the... organisation making considerable improvements throughout the organisational working structure and helps in building the better business.Thanks.read more
                    Maharajan Subramaniam
                    Maharajan Subramaniam
                    18:17 06 Jun 20
                    High-Performing IT Teams, I'm impressed with the knowledge level of their deputed staff, audit procedures, and... checklist adopted. Mr. Vimal especially understand the requirement and provide solution not only technical feasibility and also considered budgeting. We’re confident in their abilities.read more
                    Mohammed L
                    Mohammed L
                    08:07 05 Jun 20
                    We have been working closely with them on payroll services for quite sometime.They provide very professional... services,experts in domain and excellent support. Would recommend them.Cheers.read more
                    ROY ROSHAN VIVIAN
                    ROY ROSHAN VIVIAN
                    06:32 04 Jun 20
                    Very professional team. Vimal has always given us good solution advice for various Software and IT Infra projects. We... are very Extremely satisfied working with him and his team. Wishing them success.read more
                    Basil Daniells
                    Basil Daniells
                    05:55 03 Jun 20
                    I have worked with HLB as a partner of Sage for about 2 years, they were dedicated to the success of the partnership... and kept aligned with the business plan that was agreed between our two companies. They are always ready to go the extra mile for a customer and don’t shy away from challenging circumstances. Keep up the good work and wish you all the success in the future.read more
                    Amar Kashyap
                    Amar Kashyap
                    19:28 02 Jun 20
                    Team of well qualified and organised professionals. Their reports are not based on numbers first they will understand... their client and their business. They are highly recommended and trust worthy.read more
                    Radz de Jesus
                    Radz de Jesus
                    16:03 02 Jun 20
                    We're glad to have found HLB Hamt to conduct the IT audit and risk assessment for our organization. We have learned a... lot from their team during that first project. And since then, we've continued to be in touch with them. Mr. Vimal especially is very good at presenting technical concepts in simple yet interesting ways that non-IT and business people alike would easily catch. We are very happy with the professionalism and quality of service they provide. They leave their clients nothing short of satisfied. Highly recommended.read more
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                    Top 6 things you need to know about trade licenses in Dubai

                    HLB HAMT

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                    HLB HAMT - Accounting Firm in UAE

                    Phone:- +971 4 327 7775
                    Mobile:- +971 55 160 1291
                    WhatsApp:- +971 56 219 1607
                    Email:- dubai@hlbhamt.com

                      Schedule a Consultation






                      One of the first stages in realizing your ambition of starting a business in the world’s most renowned economic metropolis is to obtain a trade license in Dubai. The business setup services in Dubai give people a variety of possibilities, including free zone company setup in Dubai, mainland, and offshore company formation in Dubai.

                      It is required to go through the entire procedure before opening a business in Dubai, beginning with registering your trade name in Dubai and finishing with the launch of your enterprise. To complete the process, you must get a General Trading License in Dubai based on your selected company structure and business operations. However, let’s start by understanding what a General trade license in Dubai is.

                      Trade License in Dubai: A Quick Rundown

                      You must have the necessary permissions for undertaking commercial operations while establishing a corporation in Dubai. A trade license in Dubai permits you to engage in the majority of activities. The Dubai Economy & Tourism (DED) issues the trade license. It also goes by the name “general trade license” and permits the following actions:

                      • This license acts as the entry point for importing and exporting goods into and out of the UAE for companies formed in Dubai’s mainland or free zone.
                      • You can sell goods and services in Dubai’s several emirates if you have a license.
                      • Professional services like hospitals and art galleries also require it.

                      Authorities for Trade License in Dubai

                      The Dubai Economy & Tourism with institutional assistance from the Dubai Chamber of Commerce & Industry, is the statutory authority that oversees and controls the licensing procedures for an organization in Dubai. However, ministries and other authorities must approve licenses for some types of businesses, such as

                      • The Central Bank of the UAE for financial institutions and banks.
                      • The Ministry of Economy and Commerce for insurance companies and related agencies.
                      • The Ministry of Finance and Industry for manufacturing.
                      • The Ministry of Health for pharmaceutical and medical products.
                      • Businesses involved in the production of oil, gas, and associated products are subject to more thorough processes.

                      Types of trade license

                      • Commercial licenses encompass all types of business activities.
                      • Professional licenses include a wide range of professions, services, craftspeople, and artisans.
                      • Industrial licenses are for starting a manufacturing or industrial operation.
                      • Dubai cherishes tourism so much that it maintains a special license for enterprises in the tourist industry. As a result, this industry has its laws, regulations, taxes, compliance, and permits.
                      • Additionally, under specific conditions, the Authorities provide various special licenses, including business operation permits and entrepreneurial business licenses.

                      The Advantages of a DED Trade License

                      As the UAE strives to attract more foreign direct investment, the DED trade license offers significant benefits to investors and business owners.

                      Import duty is minimal
                      Paid-up capital is not required
                      Profit and capital are both fully repatriable
                      A wide range of banking advantages
                      Tax-Free zone
                      Provides a portal for both domestic and international trade

                       

                      What are the procedures for acquiring a trade license?

                      Before starting any business in Dubai, the processes listed below must be followed to fulfill the legal requirements of all relevant government authorities and to ensure maximum commercial profit for the business owner.

                      • Choose the appropriate category for your company: commercial, industrial, or professional.
                      • Determine all of the associated business operations that are covered by each business license (Maximum 10 per license).
                      • Choose your company’s legal status in the UAE.
                      • Choose an acceptable trading name for the company.
                      • Send an application to the Department for preliminary approval.
                      • After gaining first approval, register your trade name (if you haven’t already registered).
                      • Lease commercial premises and obtain permission from the Authority.
                      • Prepare the appropriate documentation, such as memoranda of association and permits from other relevant government agencies, as applicable to each case.
                      • To receive the last license, submit one further application to the Department.
                      • Pay the required amount.

                      Renewal of Trade License

                      Without renewing the trade license, one cannot conduct business in Dubai. HLB HAMT provides all the help you need to renew the trade license in whatever form you require. We’ll email you a reminder when it’s time to renew your license.

                      HLB HAMT to Assist!

                      Our extensive experience and in-depth local knowledge enable us to understand your company’s requirements. As a result, we are in a position to provide the best options and guarantee that your firm is set up with the least amount of difficulty and work. We take care of the technicalities so you can focus on the essential things, especially your business.

                       

                      Would you like to rate us on Google?         

                       

                      Varun R Chandra
                      Varun R Chandra
                      07:38 25 Apr 21
                      HLB Hamt is highly recommended! They have the quality of services that would satisfy your needs. I'm glad I found them.
                      Giuseppe Assi
                      Giuseppe Assi
                      06:20 31 Jan 21
                      I HAD A GOOD EXPERIENCE WITH HLB HAMT DUBAI. THEY HAVE A VERY PROFESSIONAL TEAM, GOOD QUALITY OF SERVICES, GOOD VALUE... FOR PRICE.I RECOMMEND THIS COMPANY.read more
                      Mohamed Sheriff
                      Mohamed Sheriff
                      16:16 28 Jun 20
                      Experience with HLB Hamt in audit experience is great pleasure. They deploy well qualified accounts team for audits.... And the amount of checking they perform give the management of the company confidence that internal controls are well in place. We are glad to see they have high standard of audit practices.read more
                      218141 JOSEPH THOMAS
                      218141 JOSEPH THOMAS
                      16:20 23 Jun 20
                      Professionally managed firm with commitment to the engagements taken. My company and its group are assigning our... requirements for last 12 years to HLB and we don’t have any negative remarks on any assignments.read more
                      PMI
                      PMI
                      07:14 23 Jun 20
                      In my opinion, HLB Hamt is one of the best professional firms in UAE after big4. Excellent client service, professional... and competent staff and timely delivery are their strength. Over the years they have developed the infrastructure and skill set to handle multiple verticals ie, audit, tax services, consulting, IT support etc.Wishing HLB Hamt team all the very best.read more
                      RAVI CHOKSI
                      RAVI CHOKSI
                      08:28 21 Jun 20
                      Thank you Team HLB hamt...Your internal auditing team put the good amount of time and inputs in helping the... organisation making considerable improvements throughout the organisational working structure and helps in building the better business.Thanks.read more
                      Maharajan Subramaniam
                      Maharajan Subramaniam
                      18:17 06 Jun 20
                      High-Performing IT Teams, I'm impressed with the knowledge level of their deputed staff, audit procedures, and... checklist adopted. Mr. Vimal especially understand the requirement and provide solution not only technical feasibility and also considered budgeting. We’re confident in their abilities.read more
                      Mohammed L
                      Mohammed L
                      08:07 05 Jun 20
                      We have been working closely with them on payroll services for quite sometime.They provide very professional... services,experts in domain and excellent support. Would recommend them.Cheers.read more
                      ROY ROSHAN VIVIAN
                      ROY ROSHAN VIVIAN
                      06:32 04 Jun 20
                      Very professional team. Vimal has always given us good solution advice for various Software and IT Infra projects. We... are very Extremely satisfied working with him and his team. Wishing them success.read more
                      Basil Daniells
                      Basil Daniells
                      05:55 03 Jun 20
                      I have worked with HLB as a partner of Sage for about 2 years, they were dedicated to the success of the partnership... and kept aligned with the business plan that was agreed between our two companies. They are always ready to go the extra mile for a customer and don’t shy away from challenging circumstances. Keep up the good work and wish you all the success in the future.read more
                      Amar Kashyap
                      Amar Kashyap
                      19:28 02 Jun 20
                      Team of well qualified and organised professionals. Their reports are not based on numbers first they will understand... their client and their business. They are highly recommended and trust worthy.read more
                      Radz de Jesus
                      Radz de Jesus
                      16:03 02 Jun 20
                      We're glad to have found HLB Hamt to conduct the IT audit and risk assessment for our organization. We have learned a... lot from their team during that first project. And since then, we've continued to be in touch with them. Mr. Vimal especially is very good at presenting technical concepts in simple yet interesting ways that non-IT and business people alike would easily catch. We are very happy with the professionalism and quality of service they provide. They leave their clients nothing short of satisfied. Highly recommended.read more
                      Next Reviews
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                      Whatever your question our team will point you in the right direction

                      Start the conversation
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