Abu Dhabi

Ras Al Khaimah business opportunities are booming in the Emirate. Foreign investors are swarming in, making it one of the most developed Emirates. Aside from this, the reason that business setup in Ras Al Khaimah is becoming widely known is that it boasts advantages in its place like:

• No existence of currency restrictions
• No mandatory annual auditing
• Rent office anywhere
• Conduct business with local market
• No limit on the number of business activities

A mainland company in RAK must have a local sponsor. They will own the majority of shares in the company. Business setup services in RAK from Commitbiz can be of great help if you are planning to open an LLC or any other Mainland company in Ras Al Khaimah. We are aware of all the required procedures and our Public Relations Officers (PRO). We ensure that our clients are guided at each step and don't have to run around for any approvals or documentation formalities during company setup. We handle the red tape and ensure that their company is formed without any hassles affordably.

Alongside the free zone, there is also the capacity to work in mainland Ajman. The mainland presents the highly developed economy as it closely follows the structures put in place by Government policies to ensure that businesses are adhering to the law. If you were to decide to set up your business here, you would need a local sponsor who would own 51% of the company. The owner would then own the remaining 49%.

For this, you would receive the following benefits:

• Public shareholding company
• Branch and representative offices
• Limited liability company
• Professional firm
• Low startup costs
• Profitable market
• Visas
• Free movement of money
• Modern resources
• Profit return

Outside of free zones, a business may opt to set up in the mainland of Sharjah. This would mean that the business would cover areas created by the UAE Government for commercialism. This is one of the most developed economic regions of Sharjah. There are different types of corporate structures available: LLC, Partnership, Local Service Agents and Public/Private Shareholding Companies.

The business licenses available in Sharjah Mainland are as below:

• Industrial license - for businesses that manufacture, assemble, process, package and fabricate goods.
• Commercial license - for all trades including importing, exporting and e-commerce.
• Professional license - for businesses in consultancy, teaching, law etc.

The documents required to set up your business in the mainland are as below:

• Trade name certificate
• Copy of tenancy contract
• Technical evaluation report
• Certificate of no-objection letter, passport, residency proof photocopies and visa
• Signboard
• Land map of ownership certificate
• National ID
• Approval from Legal Affairs
• Partnership contract
• Approval from the Ministry of Economy

Another option for setting up a business in Dubai is setting up a business in the mainland. You will be able to carry our your business across the UAW but the maximum foreign shareholder equity would be capped at 49% whereas free zones offer 100% foreign ownership.

The cost elements for setting up your business in the mainland are as below:

• Trade license
• Nature of business
• Registration at the government department
• Visa permit
• Notary fees
• Office premises

Abu Dhabi is the largest Emirate and the capital of the UAE, located on the south-eastern side of the Arabian Peninsula, besides the Persian Gulf. The city constitutes more than three-quarters of the area of the country of UAE, and is the second most crowded Emirate in the federation, after Dubai. Notwithstanding the 10% of the world's oil reserves and is one of the largest oil producers, Abu Dhabi has been expanding its economy outside of oil export since 2009. The city has been funding heavily in real estate, industrial development, retail, and tourism.

Why Set Up New Business in Abu Dhabi?

Abu Dhabi, being the administrative capital of the UAE, is one of the most sought-after offshoring places in the world. It accounts for 95% of the country's total oil reserve and offers diverse investment occasions to almost all economic sectors.

Here are a few other advantages of setting up a business in Abu Dhabi:

• Abu Dhabi occupies a prominent location between Europe, Asia, and Africa – and thus has close access from the rest of the world
• The Emirate allows for 100% foreign ownership and provides an exemption from corporate and personal income tax
• There are no foreign exchange controls, quotas or trade barriers
• The living standards in Abu Dhabi are top-notch, with world-class facilities in healthcare, residences, recreation, education, and transportation.

Free Zone Company Abu Dhabi

Free Zone company formation offers single-window administration and is authorized as an independent jurisdiction that allows an expatriate businessperson to own a company wholly (100%). There is no requirement to appoint a UAE national as a service agent of a branch or as a partner if the business is set up in a free zone. Setting up a business in the UAE has certain restrictions, so, free zones act as a gateway to carry on international business trade. However, local (UAE) supply of goods has to be channelled through local distributors, and the business is supposed to pay a 5% customs duty for it. Abu Dhabi Free Zone authority provides a perfect gateway for smooth registration of companies in the Emirate.

Free zones in Abu Dhabi issue licenses:-

• Commercial Trading
• Consultancy
• Branch of a Foreign Company

Mainland Company Abu Dhabi

Abu Dhabi has a list of mainland's which are commercialized geographical areas that fall under the UAE government and its authorities. They have regularized policies and legal guidelines, which makes the city one of the most developed economies in the UAE. A mainland company in Abu Dhabi can carry out business across the UAE but permits maximum foreign shareholder equity capped at 49%.

Abu Dhabi Offshore Company

Companies may legitimately move offshore Abu Dhabi for tax avoidance or to enjoy relaxed regulations. If one wants to protect its assets, then overseas Abu Dhabi company formation can be a viable option. Abu Dhabi offshore companies are non-resident companies, which precisely means that the shareholders get no visa, and there is no physical office. The businesses in Abu Dhabi are also not issued with an operating license and only get an official Certificate of Incorporation. It is because they cannot conduct manufacturing, trading, or business within the Emirates.

Business setup in Abu Dhabi one has to obtain a specific license depending on the business activity. Few of the business licenses are mentioned as follows-

Commercial License - This license is issued to the companies engaged in general business activities like public trading companies, hospitals and clinics, construction and real estate, and business contractors

Occupational License – This license is issued to the businesses which involve individuals using their mental and intellectual capabilities, talents, and abilities to serve clients. Examples for an occupational license are law firms, accounting and audit firms, research and development firms

Professional License – This license is issued to artisans and other professionals who personally engage in the practice of a particular craft. These individuals may work alone or work up to five people. Examples for professional license include carpentry, smithery, and steelwork

Industrial License – This license is issued to the businesses who wish to set up manufacturing operations in Abu Dhabi. The Higher Corporation issues the license for Specialized Economic Zones (ZonesCorp)Tourism License – This license is issued by the Abu Dhabi Tourism and Cultural Authority (TCA). This license is granted to companies offering tourism-related services like hotels, travel agencies, boat rentals, etc.

For a foreigner, it might get difficult to understand the concept of 'free zone,' 'offshore,' and 'mainland' in Dubai. One must have complete knowledge of what each jurisdiction provides to its businesses. Hence, to clear away the confusion, a differentiation table has been prepared.

• Minimal import/export duty
• Cost-effective market
• Stability
• Talented workers with no restrictions on who you employ
• 100% direct tax-free
• 100% ownership for the company
• Powerful road network
• Minimal startup costs
• No re-export duties
• You can start instantly