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Company Incorpoation

The company incorporation services of our company are designed to help you set up a successful business in UAE, whether it may be in main land Dubai, Abu Dhabi, Sharjah, Ajman, Fujairah, Umm Al Quwain or be it a company with your 100% ownership in designated free zones spread all over UAE. 

We offer a complete set of services related to the process of establishing a business in UAE. We manage all responsibilities and the complex process of mainland business formation until your firm is established.

We take time to understand your dreams and aspirations and listen to your rationale and cases of logical conclusions. Then we help together to create a business plan of relevance that undergoes a rigorous market test. All the key and strategic test conditions along with the results in detail shall be shared with the client. While taking the client’s feedback on the results, we shall present our assessment of the business plan, it can either be a positive or negative recommendation and any possible creative suggestions to augment the idea.

Bin Ghannam Accounting & Auditing’ provides liquidation services for all entities – limited liability companies, free zone companies, and offshore companies across UAE.

Liquidation or winding up of a company is an activity whereby the operation of a company and its existence will come to an end. It is also called as the closing of a company or cancellation of a company in the UAE. There are various Steps & procedures for canceling Licenses of Entities in the UAE and it is a mandatory activity to be done in UAE once you decide to cease business activities. You may reach our experienced team and get your company liquidated legally and professionally.

Company Liquidation 

Company Liquidation is the process where the company decides to close down its operations. All the assets including the properties of the company are to be distributed to its creditors if any and to its shareholders as per the legal terms.

Before you proceed to terminate the business there is a list of checks and balances to be done by obtaining various documents of clearance and confirmation. The company Liquidation process may vary based on the legal types of the UAE company in terms of the documentation and procedures, however, all of them revolve around the below key points.

COMPANY LIQUIDATION/ DEREGISTRATION REQUIREMENTS
  1. Ensure that the company has no liabilities in its name.
  2. All the active UAE resident visas under the company must be canceled.
  3. Make sure all the utilities in the name of the company are closed and settled.
  4. All the company Bank Accounts must be closed.
  5. Any assets at the time of liquidation must be transferred to the shareholders or the Liquidators.
  6. All the charges and dues concerning the Government Authorities must be cleared and settled.
  7. An Advertisement informing the intention of liquidation in a prominent UAE newspaper.
  8. The company must prepare a resolution to liquidate and appoint a licensed liquidator to carry out the procedures.
  9. A letter of consent from the appointed Liquidator.
  10. Depending on the type of business, certain clearance letters must be obtained from relevant authorities briefly mentioned as below.
  • Clearance certificate from the Freezone /Offshore Authority.
  • Clearance letter from Utility providers.
  • Clearance from the Customs department.
  • Clearance letter from the banks on the account closure.
  • Clearance letter from the landlord.
  • Clearance letter from any third-party authority as per the regulated activity.
  1. A Liquidators Report is made available by the appointed liquidator.

Liquidating a company will not be an easy task as the process requires a lot of time, effort, and expertise.

We at ‘ Bin Ghannam Accounting & Auditing we are happy to assist and manage the entire liquidation process to your satisfaction.

Once you appoint us we shall obtain the Company Termination Certificate with utmost professionalism within the shortest possible time.

We provide all the services concerning the Dubai International Financial Centre and Abu Dhabi Global Markets. Be it establishing a company or auditing or accounting or changes in the legal structures, our expert and capable team is well equipped to handle your requirements.

Starting a new business comes with a lot of effort and is full of optimism however it is always advised to do a reality check by an independent expert who can show you further presence pitfalls and higher dimensions of opportunities.

The company incorporation decision requires a cautious approach. The type and jurisdiction of the company should complement and support the business idea to strengthen the core competencies it should ideally possess.

We at ‘ Bin Ghannam Accounting & Auditing spend quality time understanding, addressing, and analyzing the short, medium, and long-term goals of the business with the only view of attracting the various vantages to outpace the economic and market competition.

We are the experts in establishing your business or company in the United Arab Emirates. We know all the Free zones, Offshore locations’ rules and regulations, and legal and mandatory requirements along with the advantages it offers for the different types and nature of businesses. We can advise you on the type and jurisdiction that best suits your business after comprehensively considering the nature, activity, logistics, facilities, financial, tax, and convenience factors that drives your business.

Free Zones are special economic zones set up to offer tax-free, and free customs duty benefits to expatriate investors. Free zones are designed for boosting international business by providing complete ownership to foreign investors. Free Zones in Dubai and the UAE are governed under a special framework of rules and regulations applicable to the concerned free zone. Free zones in UAE are managed and operated by different free zone authorities.

These free zones operate outside the federal Law or Laws of the Ministry of Labor. However, for all legal reasons a Freezone company is still considered a company domiciled in UAE or a UAE company.

Free Zone entities may trade, import/export with entities within the free zone or outside UAE. Free zone entities may buy from UAE, but in case they need to sell goods to the mainland of UAE they have to employ the services of a distributor or agent on the mainland.

Each free zone is managed by a separate Independent Free Zone Authority, and these authorities are responsible for issuing business permits and licenses, employee visas, and regulating the business requirements. Each free zone has its own independent rules and regulations. There are more than 20 free zones in UAE.

Most of the free zones in Dubai broadly offer trading, service, industrial, national industrial, and branch licenses to investors looking to set up their businesses. In UAE, free zones are either attached to a port or specific industries.

In free zones, you can set up different types of companies based on your requirements as mentioned below.

  • Free Zone Establishment (FZE) – Single shareholder
  • Free Zone Company (FZC) – Two or more shareholders
  • Branch Company – Branch of local company or branch of foreign company
Benefits of UAE Free Zones
  • 100% Foreign ownership
  • 100% Repatriation of capital and profits
  • No Corporate taxes
  • No Personal income taxes
  • Exemption from Customs duties
  • No Foreign currency restrictions
  • No Labor restrictions
  • Residency visas are allowed
  • Can have flexible offices or can rent or own offices
  • Shared services and synergies with other companies
  • State-of-the-art infrastructure

A new ruling was issued in the Cabinet meeting in May 2018, which was chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.

The new law announced that Investors in the UAE can now have 100 percent ownership of their companies in the country along with, an investor visa in UAE for 10 years.

The United Arab Emirates (UAE) has been the hub of investors attracting hundreds of thousands of investors from all over the world since time immemorial. In the United Arab Emirates, Dubai is one of the most thriving Emirates with its brilliant infrastructure, and intense and quick-growing horizons, culminating to make it one of the chief business hubs across the world.

The process to obtain an investor visa in the UAE

For every investor in the UAE, it is mandatory to obtain an investor’s visa or a partner’s visa to legalize the business. The various five steps to be followed to attain an investor visa in the UAE are as below.

I. Application for an investor’s visa

The detailed Investor Visa application is to be filled with all the necessary details accurately. Few documents should be submitted along with the application along with the fees.

II. Visa Issuance

Once the authority issues the investor visa, the visa shall be sent to your email for you to travel to the UAE. If the investor is already in the UAE then the application for visa amendment shall be processed in the UAE itself at an extra cost.

III. Medical Examination

The investor shall undergo a normal medical test as per the law for further process.

IV. Emirates ID Application

The Emirates ID in the UAE is one of the most important identification documents which shall also be processed.

V. Visa Stamping

Once the above steps are finished we will proceed with the final step to stamp the visa in your passport.

There are primarily three types of Companies in UAE.

  • Mainland Companies – Limited Liability Companies
  • Freezone Companies
  • Offshore Companies
Mainland Companies

A Dubai mainland company is authorized to deal within UAE and with the outside world alike.

The different types of mainland companies are as below.
  1. Sole Establishment:

It is an establishment owned by a sole proprietor to operate an economic activity (commercial, professional, industrial, agricultural, or real property). An establishment’s financial liability is linked to the proprietor who shall be responsible for all its financial obligations.

  1. Limited Liability Companies- LLC Companies

LLC is the most common form of business enterprise in the UAE. LLC company formation requires a UAE citizen known as the local sponsor or local service agent. The Industrial and commercial licensed companies need a local sponsor and they will hold a minimum of 51% of the shares and the remaining 49% can only be held by the expatriate.

A local service agent is required for a company formation under the professional license and the expatriate can hold 100% of the shares of the company.

We can provide the local sponsor and will provide all the agreements with the local sponsor to protect your business.

  1. Branch and Representative Office.

We provide end-to-end solutions relating to the establishment of Branches and Representative Offices in the UAE.

The basic details regarding the branch and representative offices are as below.

  • A branch office is permitted to promote and market the products of its parent entity.
  • Also, it can enter into transactions and offer services to customers.
  • Representative offices are only allowed to promote/market the business activity of the parent company.
  • And cannot enter into a transaction in the name of its company
    Look after the entire process of establishing your branch or representative offices. We give strategic inputs, help select local sponsors, assist to select locations, on your business plan, and also paperwork and documentation formalities.
  1. Civil Company / Professional firm setup services

We undertake the entire process of establishing your Civil or professional firm. Our services comprise expert advisory, selection of local service agents, assistance in the selection of locations- offices, organizing business plans, and also handle paperwork and documentation formalities.

  1. Joint Venture

‘ Bin Ghannam Accounting & Auditing’ can assist with all joint venture operations setup requirements in UAE. We will coordinate with the potential partners, set strategic directions, coordinate your business plan, and also handle paperwork and documentation formalities.

  • Minimum Local equity participation of 51%.
  • Profit and loss distribution can be mutually agreed upon.
  • So you can hold 49% equity and still be eligible for a higher share of profits.
  1. Public & Private Shareholding Company

‘ Bin Ghannam Accounting & Auditing’ establish shareholding companies in UAE from inception to conclusion We give strategic advisory on company structure, selection of local partners, exclusive office locations, organize business plans, and also handle documentation formalities, etc.

The salient features of this type of company are as below.

  • The minimum capital required for a public shareholding company is AED. 10 million (US$ 2.725 million).
  • The minimum capital required for a private shareholding company is AED. 2 million (US$ 0.545 million).
  • UAE nationals are appointed as Chairman/ Director.

UAE is one of the well-known jurisdictions in the world for incorporating offshore companies as a “tax-free” business territory. Especially because one can avoid the cumbersome process of having the offshore incorporation company documents attested by various embassies and Ministries of Foreign Affairs. The offshore companies are based out of an offshore jurisdiction within the United Arab Emirates and can conduct business with all other parts of the world apart from UAE. The company is allowed to hold assets within and outside the United Arab Emirates and is allowed to bank with banks in UAE and outside.

Why set up an offshore company in Dubai?
  • Complete foreign ownership is permitted
  • Own real estate properties in approved areas by the Authority
  • Hold multi-currency bank accounts
  • Exempted from all corporate and income taxes
  • No foreign currency restrictions
  • 100% repatriation of the profits and capital
  • Low setting-up costs
  • Minimum or no capital is required to set up an offshore company
  • UAE has Double Taxation Avoidance Agreement (DTAA) with several countries

Offshore companies can be formed only through the “Registered Agents”, located either in the free zone or UAE and approved by the respective authorities.

We can form offshore companies in all the UAE offshore jurisdictions.

We Provide Visa Processing, Company license renewal, amendment of legal documents, amendments to shareholding structures, and amendments to any legal documents that can be undertaken by Bin Ghannam with perfection and professionalism.

At ‘Bin Ghannam Accounting & Auditing’ we undertake all the registration and licensing processes and procedures and take care of all the requirements at your ease and comfort. As a business owner, you just need to let us know of your preferences and we shall make the company happen for you in no time.