Company Incorporation in Dubai

HLB HAMT

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

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    Over the last few years, Dubai has become the hub of international business and trade, and eventually, several business communities around the globe float their business operations in the city. It is vital to note that, before plunging in head first into the process of company incorporation in Dubai, investors should have some local knowledge regarding the region, business environment and procedures first.

    While new business ventures are boosted by the regional government, keep in mind that businesses in Dubai must have a local partner who holds a majority share, namely 51%. The partner can be an individual or a company, and they are not obligated to contribute financially to your business. Also they will receive a regular fee for agreeing to become your sponsor. The next step in company incorporation in Dubai is to register the company. When this is done, you will also have to show proof of funds to the Ministry of Commerce. These funds may be withdrawn once you have shown that you have the money needed to set up the business.

    There are two categories of company incorporation in Dubai. The first is to set up an establishment in one of the free zones. A company set up in the designated free zones is owned totally by the person who sets it up. This means there is no need for a local partner. This type of incorporation has many advantages including, the freedom to carry out multiple activities, no tax, lower charges on renewals, may be formed by one person, easy to liquidate and you can carry out international activities. But be warned that free zone companies are not allowed to conduct business locally. So if you are considering a business like retailing, government supplies, or tourist related services like a restaurant, you will be better off registering as a local company.

    The second type of company incorporation in Dubai is known as Offshore Company. In this category, , the business operates outside the boundaries of Dubai, but maintains a sub-office in Dubai. This facility is essentially utilized by companies looking for regional “tax relief- on invoice .” The benefit here is that it does not require any minimum capital; what’s more there is even no need for an actual office. However, according to the new international standards, such companies must appoint one director, maintain financial accounts, and produce financial reports that have to be audited by a professional approved by the free zone. Additionally the company must hold annual meetings. All company regulations have to be within anti-money laundering guidelines.

    When starting a new company, it is best to get professional help. While this may involve certain cost , keep in mind that substantial percentage of new ventures lose track in the first five years due to lack of professional guidance. Even if you think you know your business, professionals can help by checking the market size against your potential offerings, aiding in how to deal with the competition or how to benefit from their weak points and a host of other ways.

    Considering that a majority of the business in Dubai begin as small units with equity funding collected from family and friends, because bank funding is not available in the country for initial years; it is best to ensure that your business does not fail on account of finance.

    Before going ahead with company incorporation in Dubai, understand your strengths, and weaknesses, find out about the opportunities and possible threats, do your homework regarding the laws of the land. Taking these precautions will ensure that your new venture starts off on the right foot and stands a better chance of success.

     

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    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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