Al Kabban & Associates offers expedited and simplified company incorporation services that cater to the needs of the client in a timely manner with minimal inconvenience. From reservation of the company name right through to issuing of all legally certified company documents, Al Kabban & Associates provides an exceptionally convenient A-Z service for onshore, free zone and offshore company incorporations in various reputable jurisdictions detailed below.
Companies incorporated in the UAE can be done under two different types of company licenses:
Limited Liability Company (LL.C)
A Limited Liability Company is the most common and preferred choice of business setup in UAE which can be formed by a minimum of 2 and a maximum of 50 shareholders whose liability is limited to their shares in the businesses capital.
Most companies with foreign partners opt for Limited Liability Companies as it is the only onshore license that provides them with legally recognized shares in a company to a maximum of 49%. It is mandatory to have a majority (51%) shareholding UAE or GCC national as a partner in the LLC who would be more commonly referred to as the sponsor of the company. Side agreements are often drafted and arranged to represent the real relationship between the expatriate and sponsoring partners.
LLC’s provide investors with several benefits some of which include:
- While foreign equity in the company does not exceed 49%, profit and losses can be shared at a ratio different from the share capital as specified by the side agreements
- Offers unrivalled access to the wider UAE economy
- Investor’s visa status in UAE along with visas issues for direct family members
- Option to open branches
- Managing the business without interference from the sponsoring partner
- Assets and capital listed under the company and not in the name of the sponsoring partner
- Few restricted activities
- Easy to open global & local corporate bank accounts and avail credit facilities
A Sole Establishment is a legal entity exclusively owned by one individual, who is personally liable, without limit, to the full extent of their assets against all of the establishment’s liabilities. This type of establishment can be used to conduct either commercial or professional activities.
Sole proprietorship for conducting commercial activities such as trading, real estate development and manufacturing can only be formed by a UAE or GCC national. Expat ownership of a Sole Proprietary company can only be issued for conducting professional activities, such as management consultancy, legal consultancy and medical services amongst others. The approval for a professional services sole proprietary license is contingent on appointing a local service agent who would be responsible for liaising between the company and government entities. The local service agent must be appointed in accordance with the laws of the UAE through a Local Service Agent Agreement prepared and attested from the court.
The UAE has provided its current and potential business owners with a plethora of designated free zones throughout the country to select from, depending on the nature and purpose of their businesses. The majority of these free zones are well equipped with start of the art facilities, corporate infrastructure and other impressive amenities that are commonly required by global corporations. Unlike onshore company requirements, free zone companies offer several advantages including:
- 100% foreign ownership
- 100% repatriation of capital and profits
- 100% free transfer of funds
- 100% exemption of import and export duties if maintaining the goods within the free zone
- Faster and smoother company formation process
- Easy recruitment procedures
- Exemption from corporate, income and capital gain tax
- Stable and transparent laws and free zone regulations
- Affordable business desk rental – No physical office required
- Modern and advanced infrastructure
Free zone authorities allow for the formation of free zone companies (FZC), free zone establishments (FZE) and branches of foreign or local companies. Al Kabban & Associates provide their clients with a hassle free and efficient service in the formation of the above company set ups in the following free zone jurisdictions
- Dubai International Financial Center (DIFC)
- Dubai Internet City (DIC)
- Dubai Media City (DMC)
- Dubai Multi Commodities Center (DMCC)
- Dubai Silicon Oasis (DSO)
- Ajman Free Zone Authority (AFZA)
- Ras Al Khaimah Free Trade Zone (RAK)
In today’s world we are witnessing an exponential increase in individuals and companies looking to establish their operations in offshore jurisdictions with the most popular of them, in no particular order, being the British Virgin Islands (BVI), Seychelles, British Anguilla, Panama, Nevis and Belize. The benefits of an offshore company are vast and range from freedom and ease of operations to confidentiality and minimal tax advantages. Other benefits include:
- Asset protection
- Reduced capital requirements
- 100% company ownership
- No office requirements
- No resident, citizen or Visa requirements
Al Kabban & Associates are considered specialists with a team solely dedicated to overseeing the registration and maintenance of their clients’ offshore companies.