Cost to set up a company depends upon the office space & number of visas required. However, Free zones in Ajman, Ras Al Khaimah, Sharjah (SAIF Zone, Hamariya Free Zone) & Fuzairah free zones are economical compare to free zones in Dubai. Following are the details:
Accommodation cost for family in Dubai
For Bachelors, cost of accommodation as a paying guest will be around $ 250 to $4,00/-. Accommodation cost in Sharjah will be almost 2/3 of Dubai cost & Accommodation cost in Ajman & Ras Al Khaimah will be 50% of the Dubai cost.
For small cars like Nissan/Hyundai & Toyota Corrola, with 1.3 to 1.6 liter capacity cost will around $11,000/- to $ 15,000/-
For medium luxury vehicles, Toyota Camry & RAV4/PRADO, Nissan Maxima etc cost will be $ 17,000/- to $ 27,000/-
For Luxury vehicles,Totota Land cruiser/BMW/Mercedes cost will range from $40,000/- to $ 95,000/-
Most Ideal place will be Dubai Knowledge Village Free Zone, if you want to educate the students but as you want to migrate the students to different countries, and then they will not encourage such institutes. To set up educational institute outside free zone, requires approval from Ministry of higher education.
Dubai Government has started giving the land to foreigner on lease (35 years to 99 years). Also property can be developed on land in Dubai Silicon City , Dubai Land etc and, marketing company can be set up in the free zone or outside free zone etc. Most popular free zones are Jebel Ali, Hamariya, Ajman , and Fujairah & Ras Al Khaimah Free Zone & Dubai Investment Park. Land can buy on lease for long term depends upon free zone to free zone.
As setting up industry in the Free Zones or outside free zone requires the permission of the government, we suggest to provide us small project report(with technical aspects) to guide you properly in this regard, For setting up Industry outside free zones require permission from the Ministry of Finance & Industry.NOC & Permission also requires from Municipality & Civil & Defense depts. Most recommended areas for setting up industries are Al-Quos & Aweer in Dubai & Sharjah Industrial Area in Sharjah & Ajman Industrial Area In Ajman.Care should be taken, that Raw material items to be imported, should be mentioned with customer codes to get the duty exemption.
All Financial Companies including Consultants & Banking are subject to approval from UAE Central Bank.
Some business like Shipping, Insurance & Money exchange cannot be started directly in the Free Zones, it requires local license (outside free zone) as well.
Normally you cannot, You can sell through a dealer or agent in order to sell the goods in the local market.
In Free Zone, you will be 100% owner and outside Free Zone Local Partner will hold 51% share & Foreign Partner will hold 49% share in the capital.
Reply to above depend upon, the following factors.
Yes, you can operate business from Dubai and open a bank account also in Dubai , but the Certificate of Origin, if required, has to be obtained from the Chamber of Commerce where the company is set up, for export proposes.
No, Driving License File has to be opened in the same Emirate from where the visa is stamped. However, in special cased, If NOC is issued by the Traffic Dept. of other Emirates then driving license can be applied in Dubai.
Outside Free Zone following are the most popular form of companies:
Cash being your personal saving can be deposited in any bank in the U.A.E. as a capital on Issue of letter from the Free Zone.
No, there is no income tax or corporate tax as such, however 5% custom duty has to levied on import, if the Company is outside Free Zone also the same can be claimed refund upon the re-export.
Once residence visa is stamped on the passport family (wife and children) visa can be processed. For an Employee, to sponsor his family a minimum AED 3000/- + Accommodation or AED 4000/- + salary is required.
As per UAE labor laws, Leave salary and Air passage has to be paid to the employee every year, however gratuity is payable only if employee completes one year.
Audit report is mainly required by the banks to get the bank facilities also to renew the license, some Free Zone has made it compulsory to submit bathe audit report, in some other case it is statutory requirements.
Transfer fees and Sharia Laws can be avoided if property is bought in the name of the Offshore Company in Jebel Ali.
No, liquidation of Company outside Free Zone and in some Free Zone is time consuming and also expensive.
To preserve the confidentiality of the beneficial owners we recommend using the nominee services of director and shareholder, which we proved. You can also consider using bearer shares. Government Authorities can request the information from the agent only with a courts order but they would have to present very strong evidence of your illegal activates in court for such order to be granted. If is always advisable to incorporate an IBC by using offshore incorporators, rather than using the services of your domestic incorporators. We are not under any obligation to cooperate with your county’s tax authorities, but incorporators can be liable to divulge such information at their discretion.
