|
Q. |
WHAT
OPTIONS ARE AVAILABLE TO SET-UP BUSINESS
IN U.A.E.? |
|
A. |
You
can either setup business in either: |
|
»
MAINLAND City or in a |
|
»
FREE ZONE |
|
|
In
MAINLAND business set-up you require a
local sponsor who holds a 51%
shareholding but can provide you POWER
of ATTORNEY to do business for his NO
interference.
In
FREE ZONE you can own 100% ownership
and you do not require a LOCAL SPONSOR.
_____________________________________________________________ |
|
Q. |
WHAT
IS THE COST OF SETTING UP BUSINESS IN
U.A.E.? |
|
A. |
Please
refer to the
Cost under Mainland
Business.
Also refer to
Comparative Cost under Free
Zone.
Briefly it is as under: |
|
 |
|
In
a
FREE ZONE, a Local Sponsor expenses
are not required.
_____________________________________________________________ |
|
Q. |
WHAT IS THE
COST OF SETTING UP BUSINESS IN A FREE ZONE
U.A.E.? |
|
A. |
Please refer
to
Comparative Cost Chart of
Free Zones. |
|
|
|
|
Q. |
WHAT IS THE PROCEDURE OF SETTING UP
BUSINESS IN U.A.E.? |
|
A. |
There are three stages: |
|
|
Stage 1 |
|
You are required to provide four
alternative NAMES for your business and
get one approved. Also required is to
get BUSINESS-ACTIVITY approval for which
a Business-Plan is generally submitted
to the authorities. For types of
Documents and Information required by
the authorities, please refer below.
|
|
Stage 2 |
|
Legalization process takes place wherein
the authorities do authenticity of
Passport, Bank Reference, and Bank
Resolution etc.
|
|
Stage 3 |
|
Allocation of Office Space, giving
License, Medical Test, Visa process is
done. |
|
The above process are interlinked and are
not very clearly distinguishable but are
general guidelines to apprise you of the
procedure in U.A.E.
Business-Set-Up.
_____________________________________________________________ |
|
Q. |
WHAT DOCUMENTS AND INFORMATION ARE
REQUIRED TO SET UP BUSINESS IN U.A.E.? |
|
A. |
· |
Your Passport Copy |
|
· |
Profit of the Owner |
|
· |
Bank reference Letter Original |
|
· |
Board Resolution Original |
|
· |
Business Plan |
|
· |
In case of Branch office of a Foreign
Company, Memorandum of Association and
Certificate of Incorporation attested by
U.A.E. embassy in that country. |
|
· |
Ten Passport size Photographs |
|
· |
Four Alternatives Names of proposed new
business |
|
· |
Details of Business Activities to be done |
|
· |
Office space and number of Visas required |
|
· |
Bank's Capital Adequacy Letter Original |
|
· |
Application Form and Owner's Specimen
Signature Form |
|
· |
Appointment of Manager / Legal
Representative |
|
_____________________________________________________________ |
|
Q. |
WHAT IS THE TIME REQUIRED TO SET-UP
BUSINESS IN U.A.E. ? |
|
A. |
Once all documents are submitted to the
authorities, it could take two to three
week's time. |
|
Presently, the most difficult part in
the whole process is to get the
appropriate office space within one's
budget due to to it's acute shortage.
Without the office space, authorities do
not allow to commence business.
Nevertheless, these difficulties can be
overcome.
_____________________________________________________________ |
|
Q. |
WHAT IS THE AVERAGE COST OF LIVING FOR A
PERSON IN U.A.E.? |
|
A. |
PER MONTH
(APPROXIMATIONS VALID FOR 2007 & 2008) |
|
|
House Rent |
USD |
1,700 |
(Two/Three
persons can join and share) |
|
Transportation |
USD |
55 |
by Local Bus |
|
Car Maintenance |
USD |
150 |
|
|
Food Expenses |
USD |
300 |
|
|
Utilities |
USD |
100 |
|
|
Miscellaneous |
USD |
275 |
|
|
TOTAL |
USD |
2,580 |
(please
adjust for Transportation / Car) |
|
|
School Expenses per School going child
would be around 250 USD per month. The
above expenses are DUBAI approximations.
Expenses in other emirates could be
slightly lower.
_____________________________________________________________ |
|
Q. |
WHAT OPTIONS DO YOU RECOMMEND WHERE TO
SET-UP BUSINESS? |
|
A. |
If the business activity is permissible
in
FREE ZONE and there is no
requirement to do retail trading in the
MAIN-CITY (one could appoint local
dealer who has similar activity license
in MAIN-CITY in such a case), then one
could choose to set-up business in a
FREE ZONE where 100% ownership is
allowed.
Ajman Free Zone, Rasalkhema Free Zone,
Sharjah Free Zone are amongst the
cheapest. Dubai
FREE ZONE are costlier.
_____________________________________________________________ |
|
Q. |
WHAT IF I NEED FURTHER CONSULTATION ON
BUSINESS SET-UP ? |
|
A. |
The following options are available: |
|
· |
For instant reply you could either have
telephonic consultation with our Manager
(Dubai, U.A.E. is GMT plus 4 Hours), or |
|
· |
Request us to prepare a detailed
BUSINESS / FEASIBILITY REPORT suitable
to your type of business. |
|
|
|
|
|
|
|
|
|
|
|
|
.
