So, investors can get a Co-Working Space in UAE Free Zones by taking a virtual license and opting for a Flexi-Desk or Shared office for their company. 

What are Co-Working Spaces in UAE?

Co-working Spaces in UAE are basically Share-desk or Flexi-Desk facilities for investors to work for specific hours in a day. It is a great option to save the initial setup fees and office rent.

Start-ups and Freelance choose Co-Working spaces in UAE initially to manage their expenses and make a profit from the assignments. The Free Zone in UAE has dedicated Co-Working spaces for investors who opt for a virtual company license.

Thus, Co-working spaces have many advantages over fully customized office spaces. It is a perfect choice for entrepreneurs who are building a new client base and expanding the market. 

Why Should an Investor Choose a Co-Working Space in UAE?

The business scenario in UAE is at a growth phase with more start-ups entering the market. Freelancers and entrepreneurs are exploring new market opportunities constantly and co-working spaces are perfect to start with and then scale up to a fully customized office space in the free zone.

1. Flexibility

Co-Working spaces in UAE provide entrepreneurs the flexibility to work in their desired comfort and not bound by a typical office setup. So, it helps the entrepreneur to focus more on the core business and reduce the burden of operating expenses.

Also, most of the co-working spaces in UAE have 24-hour access and the investor can plan their day and split jobs and take care of a family along with having a fully concentrated workspace.

2. Convenience

Convenience is the key to co-working spaces in UAE. The ability to keep the cash flow low and choose the working space on demand is a win for co-working spaces.

Thus, the investors can choose the workplace according to the requirement and volume of work. They can keep the operational expense at an all-time low at the same time focus on the core business activity more effectively.

3. Networking Opportunities

There are immense networking opportunities in co-working spaces in UAE. Like-minded innovators and entrepreneurs can share business ideas and collaborate on projects.

Hence, entrepreneurs can easily strike up conversations and ideate for new projects. Also, co-working spaces are a perfect launchpad for start-up applications to test the audience.

Subsequently, the Co-working spaces in UAE also conduct frequent professional development workshops, regular networking events, etc., that will help build business contacts and gain new customers. Also, it is a perfect place for word-of-mouth marketing and will amplify your visibility for you as an entrepreneur.

4. Amenities & Services

Co-working spaces have world-class infrastructure and modern amenities to keep entrepreneurs active around the clock. It has every business support system that will easily help in scaling up your venture.

Hence, most of the co-working spaces across the world have the following in common:

• Meeting rooms- Conference rooms for calls, meetings, with potential clients, and holding strategic discussions
• Break Spaces- Outdoor areas, pool tables, and lounges
• Office Stationery – Office furniture, Flexi-desks, office stationery
• Cafes & Restaurants – Free Coffee, fruits, basic appliances fridge & microwave, etc.
• Work-Life Balance
• Co-working spaces

5. Work-Life Balance

Co-working spaces help the entrepreneur to plan their day more effectively and be free of distractions while they are focused on work. Thus, they can access their workspace at any convenient time and maintain a healthy work-life balance by being with family and friends too during their off-peak hours.

Also, the 24-hour access to Co-Working spaces in UAE allows entrepreneurs to spread their work and errands to a 24-hour window.

Free Zones in UAE – Co-Working Spaces Available

The Free Trade Zones in UAE play a vital role in the progress of business and commerce in the region. The start-up growth in UAE is powered by the cost-effective business license and freelance license package.

Hence, most of the Free Trade Zones in the UAE offer co-working spaces and Flexi-Desk office areas for freelancers and entrepreneurs to easily start and scale up their business ventures. 

Co-Working Spaces in Dubai Free Zones

With the start-up revolution in Dubai and more foreign investors focusing on setting up their base in the region, the demand for Co-Working spaces is skyrocketing.

Additionally, in the Free Zones and Mainland, there is a boom of Co-Working spaces. Entrepreneurs opt for doing their work by paying for the business infrastructure and allied utilities on a pay-as-you-use model.

1. Dubai Silicon Oasis – IFZA

Dubai Silicon Oasis-IFZA is the fastest growing Free Trade Zone that has exclusive company formation packages for start-ups and innovators. The Free Trade Zone offers a host of cost-effective business setup packages available for entrepreneurs.

IFZA offers a low-cost business license package with a flexi-desk and shared office setup for the investors. The business license cost starts from AED 17,300 for setting up a One Visa Quota company in the Free Zone

IFZA Dubai offers the perfect platform for start-ups to thrive. The business infrastructure, virtual events, Free Zone Authority support, business ecosystem are all ideal for the start-ups to grow.

The straightforward company formation process, faster UAE residence visa process, Dubai Address, proximity to Business Centers of UAE, etc., are add-ons for the popularity of this Free Zone among start-ups and entrepreneurs.

2. DMCC – Dubai Multi Commodities Centre

DMCC Dubai offers cost-effective business setup packages for investors. There are approved Co-Working spaces in DMCC Free Zone that investors can sign up with after receiving the business license from the Free Zone.

Read more: DMCC Business Setup Packages

3. Dubai Airport Free Zone Authority

Dubai Airport Free Zone Authority (DAFZA) is the most prestigious Free Trade Zone in the UAE. Globally investors are looking at establishing a company in Dubai Free Zone for experiencing the host of business benefits the Free Zone is offering for the investors.

The prestigious Dubai Address, access to world-class business infrastructure, being part of a niche business network, etc., makes Dubai Airport Free Zone the first choice for global investors.

There are Flexi-Desk and Shared offices available for entrepreneurs to kick-start their business activities. They can later expand to a full-fledged office space in the Free Zone.

Co-Working Spaces in Sharjah Free Zones

Following are a few of the Free Trade Zones in Sharjah that offer Co-working Spaces for investors at competitive prices and top-class facilities. Connect with our expert team to know more about the process of obtaining a Co-working Space in UAE for your company.

1. Sharjah Media City

The Sharjah Media City (SHAMS) is a dynamic Free Trade Zone offering start-ups cost-effective business setup packages.

To start a consultancy company, the Free Zone business license package starts from as low as AED 9,200 for a Zero visa quota. It offers a wide range of business activities and business infrastructure for entrepreneurs to easily set up and scale up their business ventures.

Sharjah Media City also offers affordable media as well as trading licenses. A Freelance Permit can be obtained for a special discount package of AED 5750 with a Zero visa quota.

Also, the Flexi-Desk office spaces can be availed for a monthly rate or pay-as-you-go basis.

2. Sharjah Publishing City

Sharjah Publishing City is another newly formed Free Zone in the Emirate of Sharjah. It offers special business license packages for entrepreneurs to easily scale up their business by keeping the company setup cost low.

Investors can obtain a trade license from SPC Free Zone for a cost of AED 5,750 for a Zero Visa Quota company. Entrepreneurs can upgrade to business license packages with visa quotas and fully furnished office types accordingly to their business requirements.

From Flexi-Desk to Executive offices, the Free Zone offers investors several kinds of office spaces and business support services.

In conclusion, the Co-working Spaces in UAE are receiving great traction among entrepreneurs for their low cost. It is the perfect option for an investor who is beginning company operations in the country.

Also, the cost of a Co-Working Space is generally lower than a full-fledged office space. Hence Entrepreneurs prefer a Co-working space and start working there initially and take a full-fledged office as they expand.

To know more about Freelance business licenses, and co-working spaces in UAE, connect with our expert business consultants right away!

The post How to get a Co-Working Spaces in UAE Free Zones? appeared first on AURION.

Out of UAE’s total exports, the re-exported goods form more than 45% approximately. Despite the slowdown in global economies and the onset of a pandemic, the re-exports from UAE hold a significant share of growth.

What are Re-Exports?

Re-Exports are goods that are imported from abroad to UAE that go through customs. Then, it is re-exported by a third party without any alterations made to the product.

Free Zones play a vital role in promoting the re-export market in UAE. They offer attractive infrastructure, legislative environments, ports & Customs departments support, and logistics support. The Free Zones support the growth in the re-export market in UAE.

Import Procedures to UAE

To import goods into the UAE, companies must have a trade license. Obtain the Trade License from the Department of Economic Development (DED) or the Free Trade Zones in UAE.

Foreign companies can either set up a branch office or a new company in UAE for conducting business. They can also appoint a UAE National as their agent, distributor, or sponsor to set up a business in the UAE

Documents Required for Importing Goods to UAE

To import goods, the UAE-based company (agent) must get a delivery order from the shipping agent and submit a few trade documents to the customs.

• Commercial Invoice from the exporting company to the importer with consignment details – Quantity, Goods Description. Total Value of each imported item
• Certificate of origin – starting the country of origin and approved by the chamber of commerce of the country
• Detailed packaging list – weight, method of packing, HS code for each item
• Import Code from the authorities (Port & Customs, UAE) and special approvals in case of importing restricted goods or duty exempted goods
• Bill of entry or airway bill
• Food Products import will have additional permits and documentation required:
• Original Health Certificate issued by the Government Agency in the exporting country (Attested for product’s fitness for human consumption)
• Original Halal Slaughter Certificate for meat and poultry products

The Goods imported to UAE for re-export will be notified in the customs using a separate product code and permit letter.

Once the Imported items enter UAE it is either stored in designated Customs Warehouses or Free Zone/Mainland Warehouses. Then re-exported to the desired countries by the re-export company.

How to start a Re-Export Business in UAE?

The company to start a Re-Export Business must first take a trade license from UAE and then apply for an import-export code from the port and customs.

To coordinate the trade operations of imports, and re-exports the company must partner with a freight forwarding agent or shipping company. It enables the smooth transition of goods to and from the ports of UAE and back.

There are a few documentations required at every stage depending on the goods transported and the nature of the re-exports.

The items re-exported must not be re-processed or altered from the original product. As the products have to pass through customs, any alternation will require permits. The Trader must produce required certificates to prove the origin and other details of the product.

Where to Register a Re-Export Company in UAE?

The re-export company in UAE can be registered either in the Free Trade Zones or in the Mainland of UAE. Both the business jurisdictions have their advantages when it comes to operations, logistics, and administration.

UAE mainland is an ideal choice for business focussing on the GCC and North Africa regions for re-exports. It is also beneficial for expanding into the UAE market with a trading unit or distribution network.

It gives the investors room for large-scale expansion. Investors can easily add more branches, retail outlets, warehouse spaces, etc. Also, they can reduce maintenance costs, hire more staff, and expand seamlessly.

However, when it comes to international trade the best option is Free Zones as there is Zero Customs duty to import into the Free Zones. The company can take a warehouse in any of the Free Trade Zones to store the items for re-export.

It is highly beneficial for the company for managing the inventory and coordinate the shipping activities from the Free Zone.

Why Choose Free Zones for Re-Export over Mainland?

There are multiple benefits for the investors in choosing the Free Trade Zones in UAE for setting up a Re-Export Company.

The main ones are the 100% foreign ownership and the full profit repatriation. Also, the free customs duty for Free Zone imports makes it an attractive choice for re-export and international trading companies.

The Free Zones in UAE are well-equipped with their logistics and warehouse setup for facilitating trade and storage of goods. Most of the Free Zones have in-house Customs clearance that will enable faster exist and entry of goods to and from the Free Zone premises.

Facilitating Seamless Re-Exports by Free Zones

The proximity of the Free Zones with the Country’s major Airports and Seaports makes it easy for trade operations. The investors get access to world-class amenities, office spaces, warehouse facilities, etc. They also can obtain land for manufacturing units and get access to administrative services and more. All at a cost-effective fee from the Free Zones of UAE.

Setting up and operating a company in Free Zone is a relatively easy process to follow for a start-up or a new entrepreneur.

In a nutshell, Free Zones remain an ideal choice for starting and operating a Re-Export company in UAE. It helps in international trade and market expansion. Companies can easily conduct re-exporting of permitted goods under the company.

To know more about Starting a Re-Export Company in UAE or Import-export license in UAE, Connect with our expert team right away!

Read more about “How to Import and Export Goods from a Free Zone in Sharjah?“.

The post Re-Export Business in UAE – Things to Know appeared first on AURION.

UAE is no 2 in Safety Rankings as per a new report from Numbeo. The Survey Analysis considers various factors to arrive at the ranking. Public safety, crime levels, burglary rate, etc., are key factors for Numbeo’s Safety index for the ranking.

It is the right time to choose UAE to establish a business. There are multiple factors that make UAE the right choice. The business-friendly laws, future growth plans, growing business infrastructure, and improved lifestyle. Also, the low taxation, 100% foreign investment, and many more.

Investors have several options for successfully setting up their company in the UAE. There are two popular business jurisdictions in the UAE. It is the Mainland and Free Zones. They offer various business licenses and attractive business setup packages for investors.

Various options to choose for starting a business in UAE

The investors have various options to choose from for starting a business in the UAE. There are business jurisdictions, numerous company formation packages, visa requirements, etc., to look at before finalizing the company package.

Entrepreneurs can obtain a trading license in UAE and conduct specific business activities. They can also indulge in Import export business in case looking at an international market expansion.

Additionally, entreprenuers can look at starting a company in UAE as a branch or subsidiary. The investors can setup a company in UAE with the assistance of an expert Business Consultant such as AURION.

They will help avoiding any hassles in the incorporation of the company. Also, provide clarity on the business laws and regulations for successful business operations in the UAE.

Let us look at the various options to choose for starting a business in UAE for a foreign investor. The following options will enable the investors to setup a company, work and live in UAE. The entrepreneurs can obtain the company trade license, company documents, and residence visa. They can get the residence visa for themselves and family under the company. Thus, enabling them to stay, live and work in the UAE for a longer period.

1. Get a Trading License in UAE

Getting a Trading License in UAE is the right way for global investors to set up their businesses in UAE.

A trading License enables investors to conduct trade operations in UAE and abroad by setting their base in UAE. The country offers advanced business infrastructure and logistics support for the business owners.

Also, there is a large consumer market for the trading companies to successfully operate and become profitable easily.

2. Start an Import Export Company in UAE

Foreign investors can start an import-export company in UAE . They can easily reach out to the Middle East, Asia, and European market. Establishing a company in UAE is a straightforward process.

Depending on the business activity, a few businesses require additional clearances from the authority. For starting an Import Export Company in UAE, the investor has to apply for customs registration. Then, obtain the import-export code.

There is immense potential in trade and commerce operations in UAE. The Free Trade Zones have customs duty waived. So, for all imports into the Free Zone, the trading company doesn’t have to pay customs duty.  Also, certain Free Zones in the UAE have an in-house Customs Department. It will allow for easy clearing of goods to and from the Free Zone.

To know more read: Import Export License in UAE.

3. Start a Branch or Subsidiary

Foreign investors having a parent company abroad can open a branch or subsidiary in the Free Zones or Mainland of UAE. They can do it with minimal documentation and clearances required.

The foreign business owner must attest the parent company documents from the UAE embassy at their home country. Also, counter-attest the documents in UAE from the Ministry of Foreign Affairs and Ministry of Economy.

The investors can operate the branch company by being in Dubai and hiring employees for work. Get the Tax Residence Certificate from UAE and get the benefit of double taxation avoidance.

To know more read: Branch of a Foreign Company

4. Start a Free Zone Company

Free Zone is the most preferred business jurisdiction in the UAE for establishing a company. There are more than 45 Free Trade Zones in UAE offering various business licenses at cost-effective packages.

Free Zones companies are essentially onshore resident companies. The investors can have physical office spaces and employees under them on company visas. The Free Zones offer a lot of attractive business infrastructure to investors. They have shared offices, executive offices, and warehouse space at a cost-effective rate.

Investors can easily register their company with minimal documentation. There are more than 2000 business activities the free zone is offering to the investors. Based on specific requirements the investor can choose the Free Zones across UAE for starting their business.

5. Get a Mainland Business License

The Mainland of UAE is a perfect choice for entrepreneurs looking at large-scale business requirements. For example, a Large manufacturing unit would require several business resources to operate. There more flexibility in the Mainland for obtaining large warehouse spaces, retail expansion, and local market penetration.

For Commercial trading activity within the mainland, the most popular legal structure is the Limited Liability Company. Here the liability of a shareholder against any claims or damages is limited by the value of shares held in the company.

Registering a Limited Liability Company in the UAE Mainland enables the investors to obtain a trade license in UAE. Also, take office space, and apply for a residence visa. expand their company into a new branch, and more. Professional Civil Work company is the legal structure for professionals to set up their company on the mainland.

In a nutshell, the mainland of the UAE allows investors to easily expand their business. UAE Mainland companies achieve business growth quickly. They offer great flexibility in terms of conducting trade operations and expanding rapidly to new markets.

6. Apply for Long Term Residence Visa

Investors can apply for Golden Visa under various categories depending on their eligibility.

1. 5-Year Long Term Visa [ Currently Unavailable]

Investors can apply for a 5 year long term visa. They must have an investment in a business or startup project with worth more than AED 5 Million. Or have company shares worth AED 5 Million or above.

Similarly, an investor is eligble for the 5 year visa if they purchases property worth AED 5 million or above.

Read more to know about 5 Year Long Term Visa.

2. 10 -Year Golden Visa

Also, specialized talents, innovators, media professionals, creative minds, etc., can apply for the Golden Visa valid for 10 years.

Also, investor with AED 2Million Property Value can apply for a 10-Year Golden Visa. However, there is a set of requirements to be fulfilled by the investor to be eligible for the visa.

UAE is transforming itself into a business-first and family-friendly destination. It is triggering global investors to establish a business in UAE and settle down with the family.

To know more details, read about: Golden Visa in UAE

How Growing Business Infrastructure supports Investors in UAE?

Hence, in a nutshell, UAE is a perfect destination for foreign investors to set up a company. There are multiple options available for entrepreneurs to establish and grow their businesses in the country. There is a growing business infrastructure in UAE that supports the investor’s business growth and daily business operations.

A company can be set up in UAE’s Top Free Zones for a cost of AED 11,800 ( zero visa quota). Thus, making UAE a low-cost company formation destination for investors.

The investors can take an office space and take a residence visa under the company. They can upgrade for a fee based on the business requirements.

To know more about ‘How to start a company for foreign investors in the UAE?‘, talk to our expert Business Consultants right away!

The post Business Choice for Foreigners in UAE appeared first on AURION.

The Visa cost for an investor/ employee in Sharjah based Free Zones range from Approx. 3,500 to 4000 AED. The 100% foreign ownership, no income tax and corporate tax, full profit repatriation, favorable business environment, etc., makes Dubai a perfect choice for business investment and establishing a company.

There are many cheapest residence visa options available across the Free Zones of UAE. There are a few special offers where one residence visa cost is waived off too. Taking the cheapest residence visa in UAE will help investors to keep the overall business setup cost low.

Types of UAE Residence Visa for Expatriates

There are many ways in Dubai to obtain a residence Visa. Following are few resident visa options that ex-pats can avail of themselves in the UAE.

1. Free Zone Business License

The easiest way to get a residence visa in UAE is by starting a small business by obtaining a single visa quota business license from anyone Free Zone in UAE.

The Free Zones in UAE offer virtual business licenses to investors with Flexi-desk, and co-working spaces for conducting their desired business activity through obtaining the business license.

The Free Zones in UAE are a vital part of economic growth. It is a secured business jurisdiction and offers UAE residence for company owners, and employees under a company registered in the respective Free Zone as well as provides all required infrastructure facilities for the business to thrive.

2. Mainland Company License

For investors aiming to venture into the mainland of UAE and actively expand their local business, a mainland company license is the right choice. Start a Limited Liability Company in the mainland of Dubai, take an investor visa, and sponsor employees and thrive the business.

Mainland business has many advantages for investors. With 100% ownership for expatriates, easy bank account opening, lower rental expenses, flexibility to expand, etc., LLC Company formation is one of the investor’s favorite choices.

3. Freelance Permit

For young entrepreneurs who want to start their business for the first time or try out the UAE market before going full-fledged by opening a company, getting a Freelance Permit is an ideal choice. It is a type of self-employment visa as the Freelancer is all on his own when it comes to conducting business activities.

There are few Free Zones in UAE that offer Freelance Permits for various business activities. The Freelance Permit will be issued for a person and it won’t be a company. The Self Employment Visa will be available from the respective Free Zone for the entrepreneur. The Self Employment Visa will be for two years (renewable) sponsored by the respective Free Zone.

Using the Freelance Permit, the person can take up projects for the specified business activity in the permit. They can also apply for a UAE residence visa and sponsor dependents for 2 years which is renewable.

Some Free Zones in the UAE offer affordable Freelance Permits that freelancers can apply easily.

Freelance Permits from SHAMS free zone start at AED 5,740. Similarly, there are other Free Zones such as Ajman Free Zone, Umm Al Quwain Free Zone, etc., that offer Freelance Permits at an affordable free for entrepreneurs.

4. Golden Visa

UAE has announced full-fledged long-term visas for expatriates to continue their tenure and contribute to the economy by being in the UAE.

It is also aimed at retaining the best talent in the UAE and generating more business opportunities and business growth. The Long-term residence Visa is not tied up to an employee as the sponsor and the individual will have a 5 to 10-year visa in UAE that is subject to renewal.

The Golden Visa will enable significant foreign investment from global investors who are aiming to make Dubai their home for the long term and will boost the economic outlook.

The strategic industries of UAE such as tourism, real estate, commercial, etc., will get talented employees, more foreign investment, and achieve business growth through long-term golden visas.

5. Green Visa

To further strengthen the economy, create more job opportunities, and retain global talent in UAE, the Government has introduced the Green Visa. There are a lot of benefits in terms of visa rules such as:

• Staying in UAE without a job for 3 to 6 months
• Self-employed people can sponsor themselves and family without the need of an employer
• Sponsor parents and children up to the age of 25, and more.

The recent amendments in the UAE residence laws are for encouraging the expatriates to stay in the UAE and contribute more to the economy. UAE has launched numerous residence visas and other supportive programs for expatriates to easily live, work, and study in UAE along with the family.

6. Property Investment

The real estate market in UAE is very mature with numerous projects read to occupy in various prime locations of UAE.

UAE has a wide range of properties available ranging from affordable to luxury penthouses. With the long-term residence visa and property visas tied up to the property purchase in UAE, the real estate market in UAE is witnessing a major growth prospect.

As per latest update, any one who have purchased a property worth AED 2 million in Loan, Mortgage, or EMI can now apply for Golden Visa. There is no minimum down payment requirement of AED 1 million, the investor will receive a 10-year visa and be able to sponsor dependents too.

The investor must get an NOC from the Developer or the Bank and submit along with the few documents for processing their Golden Visa. Expert Business Consultants such as AURION will guide you through the process seamlessly.

To know more read: Property Visa in UAE

7. Employment Visa

Getting employed in the UAE will entitle you to a UAE resident visa under the sponsorship of the employer. For a first-time visitor to UAE getting on employment, the pathway is ideal to get UAE market experience and later venture into setting up a company for themselves.

Along with the above-stated residence visa, under the new development plan and promoting ex-pat living in UAE, there are retirement visa, special work permits for teenagers, residence visa extensions for widowers for up to 1 year, employment visas holding up to 6months, and more.

The Job Loss Insurance scheme is a new scheme launched by the UAE Government to support the employees incase of a job loss. It is an insurance scheme where a very nominal premium is paid by the employee monthly to the insurance scheme, and they can avail of the benefits during an instance of job loss.

What is UID Number?

The unified Number (UID) is a 6-digit code that can be found on the entry stamp on the last page of the passport or on the visa sticker. Without a UID Number, one cannot complete the application for Emirates ID.

A UID number is a 9-15 digit unique number that gets assigned to a visitor or tourist or resident. The UID numbers are issued by the General Directory of Residency and Foreign Affairs (GDRFA). UID remains the same even if you change your visa or status from tourist to resident.

It is a permanent unified identity number. UID is located on the visa page right above the file number. Many expats are not aware of the codes and numbers on their residence visa page

How to Check UID Number Online?

UID numbers can be verified online by visiting the GDRFA website. From the home page click on e-Services and click on ‘Find my UID’.

Provide the passport number, nationality, date of birth, and other information required, and click on the submit button. The webpage will provide you with the UID Number.

In case you are unable to obtain the UID Number online, visit the GDRFA main center in Al Jaflilya, Bur Dubai, or Dubai International Airport Terminal 3. They can issue the UID number for you after reviewing the request.

How to Merge UID Numbers?

There could be instances where one applicant will be having multiple UID numbers. It is mostly caused due to system errors but could affect your resident visa processing.

Hence, in such cases, the multiple UIDs must be merged into a single UID Number by raising the request for the merging. It will clear the immigration records and only one UID will be active for the applicant.

Follow the below steps to merge the UID numbers

• Visit the immigration office in UAE – GDRFA – Al Jafliya, Bur Dubai
• Submit the required documents – Passport copy, entry visa copy ( if any)
• Old, expired, or canceled visa page in passport and copies – for reference purposes
• After submitting the documents for review, the authorities at GDRFA will provide you with the updated UID number that you can use for your new residence visa application, Emirates ID, etc.

So in conclusion, UAE is becoming a family-friendly and expat-friendly location with ample facilities and infrastructure to power businesses of any scale and retain global talent within UAE and boost growth prospects.

To know more about UAE Residence visas and the process of applying, talk to our expert business consultants right away!

The post How to Apply for Residence Visa in UAE – Types of UAE Residence Visa Explained appeared first on AURION.

With one of the busiest airports in the world and the largest man-made seaport in Dubai, the country is on a fast pace of development. It’s a wise decision for investors to set up a business headquarters in UAE as it is becoming a popular trade hub of the world.

Company Incorporation and Role of Business Consultants in UAE

Business Consultants in UAE assist the investors in the process of company incorporation in the region. There are various options in UAE for setting up a company. The 45 plus Free Zones in UAE offers more than 1000 business activities.

Hence, often the investor is confused when it comes to selecting the right option to establish their business. This is where the role of a Business Consultant becomes vital.

Also, the Business Consultants in UAE will ensure investors the right company registration process. The company in UAE must be set up the right way and comply with all the company laws and regulations.

For entrepreneurs who are new to business setup in UAE will be overwhelmed by the process of applying for clearances, getting approvals, applying for a residence visa, bank account, etc.

In such instances, getting assistance from an expert Business Consultant will help entrepreneurs to easily kick start their business journey.

How Business Consultants help an entrepreneur in Setting up a Company in UAE?

The role of Business Consultants in the process of setting up a company in the UAE is crucial. They help the entrepreneurs in many ways. Here are some of the key areas where consultants will handle it efficiently.

Hiring a business consultant to establish a company in the UAE allows investors to grow and add more value to their organizations. The best part of hiring a business consultant is that they can assist with developing growth-oriented strategies and have a plethora of experience in establishing a company.

In that regard, AURION can help investors establish their company in UAE with expert knowledge and all the crucial information regarding procedures to start a company in the UAE.

1. Result-driven Expert Advice

Starting a business requires a lot of knowledge and experience to make it hassle-free. Furthermore, investors may not have enough information to start it themselves. Sometimes, they may even miss out on certain facts and then have issues with establishing their company.

That’s where the role of business consultants comes in. They help investors effectively establish the business since they have a solid perspective of the local market and the competitors.

Furthermore, they can also guide investors through the benefits and risks of the business they are trying to establish.

2. Efficient Handling of Legal Matters

As the UAE legal system is the backbone for starting a business in the UAE, it’s crucial to comply with all the legal procedures. Whether investors want to opt for mainland, offshore, or free zones for opening a company, each has its regulatory authority.

Hiring a business consultant means they will also inform and guide about the laws applicable to companies, establishments, and employees in UAE.

Furthermore, they will educate about all the legal requirements and formalities, allowing them to carry out the business setup process smoothly. Not only that, but they can also help with the risks and options available while setting up a business.

3. Better Understanding of Business Jurisdictions

The UAE has different business jurisdictions with different rules, regulations, and laws. Investors need to comply with all these, which require professional assistance.

Furthermore, if these rules aren’t taken care of correctly, there may be certain penalties. A business consultant helps investors understand the legal structure and provide valuable advice.

1. Company Formation Application

Submitting the application form with the supporting documents is the first step in company formation.

The Business Consultants will provide accurate information on the latest business setup packages of various Free Trade Zones in UAE and the mainland packages to the investor. 

Depending on the business requirements and preferences of the investor, the business consultants will proceed with the right choice.

2. Choosing the Business Type

Based on the number of shareholders, nature of business, the business type must be chosen. In Free Zone, there are two major business types FZE (Single Owner Company) and FZC (Two or more Shareholders).

Few Free Zones in UAE have Free Zone -LLC (Limited Liability Company) business type and Dual Licenses. Expert Business Consultants will provide ample information about the various business license types with the investors and proceeds with their selection accordingly.

Also, depending on the nature of the business activity the type of business license must be chosen. Businesses in UAE are categorized into commercial (Trading, General Trading), industrial (manufacturing), services, eCommerce, etc.

3. Choosing the Office Type

Choosing the office space is an important step in the company formation process. The Business Consultants will ensure the perfect office space depending on your business requirements.

The Free Zones in UAE offer customized office spaces on their premises. Free Zone Companies will have to choose an office within the Free Zone. To move to the mainland, the company must be having a registered branch office.

Free Zones in UAE have various office types ranging from Flexi-Desks and shared Office Spaces to executive Offices with fully customized interiors (25 sq.m, 50 sq.m). Also, there are warehouses and light manufacturing units that are ideal for small-scale manufacturing industries.

4. Obtaining Clearance and Approvals

Based on the business activity chosen by the investor, there is a requirement for special approvals from the Government Departments, municipalities, and other Government Authorities.

For example, aviation companies to start their business operations, require the approval from Civil Aviation Authority in UAE. Similarly, all construction Contacts in Dubai must be approved by the Municipality of Dubai. Business Consultants will help investors in obtaining the clearances on time to ensure smooth business operations.

5. Obtaining the Business License

The business license is obtained from the respective Free Zones upon submitting the required documents of the shareholders, the approvals, and the fee.

The Business Consultants will handle the whole process of company formation in UAE across various Free Zones and the mainland. The investors can focus on their core business strategy while the administrative work will be taken up by the Business Consultants.

6. Assessment of Costs for Business Setup

Investors can incur high costs while establishing a company in the UAE if it’s not directed properly. The cost can include business setup assistance, visa attainment, liquidity & sponsorship services, or business support.

In addition, the business jurisdictions in the UAE have their legal processes, laws, documentation, office space structure, etc. All these have different types of costs. Depending on all these, only the registration can cost you around 9000-15,000 AED.

However, one may not be aware of all the costs that may come up at each stage. In the end, investors may have to expend more than they calculated just because they were unaware of a certain type of cost. Business consultants ensure that it doesn’t happen. They can help investors with an exact assessment of the business setup costs.

7. Compliance Process for Business Operation

The business compliance in UAE is tighter with the newly amended Economic Substance Regulation and Ultimate Beneficiary Ownership Declaration, Anti Money Laundering declaration, VAT Registration, etc.

Hence, all new and existing businesses registered and operating in UAE must file for all of the above compliances. This is where Business Consultants will be helpful.

They will assist and coordinate the filing process and maintaining the deadlines and taking action at the right time. UAE Government has strict regulations and fines for the defaulters, hence companies must be well aware of the compliances and the after-effects of violations.

8. Business Support Services

Business Consultants provides a host of Business Support Services such as Resident Visa Processing, Bank Account Opening Assistance, customs registration, document attestation, document delivery, driving license, and more. Clients can use the services on the go depending on the requirements.

9. Company Closing

Company Closing procedures are very structured and a mandatory process in UAE. Investors must follow the company closing procedures and settle all dues of the company.

For the investor to return to UAE on a later day or start a new business here, the termination of the existing company the right way is essential. Business Consultants will help in closing the company the right way by following all the procedures and getting all the required clearances.

Hence, in a nutshell, Business Consultants form an integral part of the business setup ecosystem in the UAE. Business Consultants, Free Zones of UAE, and other Government entities all make up the business setup ecosystem in the region.

To know more about the Company Formation Process in UAE, talk to our expert business consultants right away!

Contact Us: Aurion Business Consultants

The post Why Choose a Business Consultant in UAE for Company Setup? appeared first on AURION.

However, there are a few differences in the company structure, company setup procedures, and nature of business operations for Free Zones and the Offshore jurisdictions in UAE.

What are the Advantages of a Free Zone Company?

The Free Zone company has many business advantages when compared to Offshore companies. The investor can easily setup a Free Zone company in UAE with the help of an experienced business consultant.

A Free Zone company can take an office space in the Free Zone if necessary and coordinate the business operations. The Free Zone company is eligible to can hire employees depending on the visa quota availability.

Free Zones are a preferred investment destination for foreign investors due to the 100% foreign ownership for the company. The investor can also repatriate 100% of the business profits and capital to the home country.

There is no income tax and certain Free Zones in UAE are VAT exempted. The business license in UAE Free Zones starts at AED 11,500 for zero visa quota to up to 6 visa quotas and more.

Free Zone Company – Key Highlights

The Free Zone Company is an onshore company governed by the respective Free Zone jurisdiction and eligible to apply for a UAE residence visa, hire employees, set up an office, open a corporate bank account, buy property, sponsor employee & investor visa, etc.

The Free Zones offer customized office spaces (Flexi-desk, shared office, furnished office -12 sq.m, 25sq.m, 50 sq.m, office + warehouse) and a host of other business benefits for the investors.

The company formation in Free Zones is easy with minimal documentation. However, it becomes quite confusing for the investors to choose the right business activity and Free Zone company package.

Also, depending on the nature of the business activity, it requires a few approvals from the Free Zone authorities and other government authorities in the UAE. It is best advisable for the investor to get the assistance of an expert Business Consultant to carry out the process of the company set up in the Free Zones of UAE.

Top Four Free Zones to explore in UAE

• Dubai Airport Free Zone
• Dubai Silicon Oasis – IFZA
• Sharjah Media City
• Sharjah Publishing City

What is an Offshore Company in UAE?

Offshore company in UAE is a type of business entity that is setup with the UAE offshore jurisdictions. In UAE there are mainly three offshore jurisdictions – JAFZA, RAKICC, and Ajman Offshore.

Offshore Company in UAE – Key Highlights

Offshore companies in UAE are governed by the respective Offshore jurisdictions and are non-resident companies. An offshore company is not eligible for applying UAE residence visa for the investors or the employees.

Also, the Offshore company cannot trade or involve in any trade operations with the mainland of UAE. Offshore companies are aimed at facilitating global trade only and they fall out of the UAE VAT regime and other local company governance.

Companies registered with the RAKICC Offshore have the provision to purchase a property in the Free Hold area in Dubai under the company name. 

Offshore Company Formation in UAE – Key Business Benefits

1. Tax Advantage

Offshore Companies do not fall into the tax regime of any business jurisdiction or country. They enjoy Zero taxation for the revenue generated.

Zero taxation for offshore companies is one of the major driving factors for global investors to choose offshore business.

2. Business Anonymity

One of the key reasons global investors prefer to register an offshore entity is to keep their ownership and assets invested confidentially. There is no requirement for keeping public records for an offshore company.

However, with the new law of global taxation, economic substance regulation filings, anti-money laundering, etc; the anonymity of offshore companies is subject to respective authorities’ inquiry. The company documents, transactions, and other trade details will have to be shared upon request by the Government authorities.

3. Ease of Formation and Low Maintenance Cost

The steps involved in setting up an offshore company are relatively straightforward with minimum documentation. It just takes 2 working days in UAE to complete the process of the offshore company registration. Offshore allows remote company registration without the presence of the shareholder (Ajman & RAKICC).

Also, the company is not eligible to open a physical office in UAE nor apply for an employee residence visa. The maintenance cost of an offshore company is relatively lower than an onshore company.

4. Access to Bank Accounts

Offshore companies registered in RAKICC, UAE are eligible to open a bank account in UAE and other global business locations. Individuals can protect their assets by opening a holding company and moving all the assets under the company name.

Also, by opening a corporate bank account in UAE the offshore company can handle all the business transactions via the bank account and successfully run the business.

To know more about the difference between Free Zone, Mainland, and Offshore Companies in UAE, talk to our expert team right away!

Contact Us: Aurion Business Consultants

The post Free Zones vs. Offshore Companies in UAE – Key Differences appeared first on AURION.

Why Choose UAE for setting up a Company?

Investors choose UAE for establishing their business due to:

• Save tax in the home country by registering a company in UAE
• 100% foreign ownership based company with full capital and profit repatriation
• No personal and corporate tax
• World-class office infrastructure, meeting room access, customized office space, and more
• Wide range of warehouse specifications with attached office space, and land lease
• Well connected transport network (air, sea, and road) to facilitate east trade across UAE, Middle East, and rest of the world
• Enhanced lifestyle and low crime rate
• No geopolitical tension and good economic stability
• And many more…

Hence, UAE is the most preferred choice by investors around the world for opening their dream companies.

Factors to Consider While Choosing the Right Emirate for Company Formation

When it comes to choosing the emirates for easily opening a company in UAE, there are multiple factors that the investor must consider such as:

1. Cost of Setting Up a Company

The Cost of registering a company in UAE varies according to the Emirate where the Free Zone is located. The cost of setting up a company starts from AED 11,800 for zero visa quota virtual company license in one of the most competitive Free Trade Zones of UAE.

In Dubai, opening a company with an office in the Free Zone or Mainland is costlier than any other emirate of UAE. Mainly due to the intensity of business activities and business houses in Dubai that are constantly doing business and promote trade operations in the region.

Hence, investors are all intending to share a piece of the pie by being in Dubai and grow their business.

Low-Cost Company Formation in Dubai

In Dubai, few Free Zones offer relatively low-cost company formation package for investors to set up their base in Dubai.

Dubai Silicon Oasis-IFZA and Dubai South offer low cost company formation packages in Dubai. Both of these Free Zones provide investors with a host of business infrastructure and required business support platforms to start at a lower cost.

Premium Company Setup in Dubai

Then there are prestigious Free Zones such as the Dubai Airport Free Zone that is home to some of the world’s top companies.

Hence, altogether company setup in Dubai gives the investor a prestigious address, sophisticated office space, access to the world’s best businesses and infrastructures, and an improved lifestyle.

Free Zones in Sharjah, Ajman, Ras Al Khaimah, etc., offer low-cost company formation packages to the investors without compromising on the infrastructure facilities and other support services.

2. Location

For certain business activities like consulting where global clients keep coming for meetings, having an office space that is close to the airport is beneficial for both parties.

Also, the ambiance of the office and the premises play a vital role in the perception of the company from the client’s point of view.

For businesses such as trading, export, or, e-commerce, the office location does not matter. It could be located anywhere in UAE and not necessarily be at the heart of the city where the rents are high typically.

3. Company Formation Package

Free Zones across the UAE offer various company formation packages. Depending on the exact business activity and company formation requirements the right company setup package need to be chosen by the investor.

For trading companies that are aiming to expand into the local UAE market and the rest of the GCC region, having proximity to airports or seaports is beneficial for the company to easily facilitate global trade.

Similarly, for start-ups and entrepreneurs, there are a whole lot of attractive low-cost business packages on offer from the Free Zones based in Sharjah and Ajman.

The Sharjah Media City and Sharjah Publishing City have exclusive company formation offer starting from AED 11,800. The investor can choose from a wide range of business activities and company formation packages.

4. Business Infrastructure

For establishing a company in UAE, the right business infrastructure is essential. Free Zones in UAE offer top-class business infrastructure facilities for entrepreneurs. Dubai Based Free Zones have a wide choice for customized office spaces with 11 sq. m, 20 Sq. m, 50 sq. m offices, warehouses from 100 sq. m to 300 sq. m.

Also, there are other amenities such as large meeting halls, conference rooms, training sessions, and more on offer from Dubai-based Free Zones.

Similarly, for industrial and Commercial warehouses, land lease, and factory setup, the industrial areas and free zones in the northern emirates like Sharjah, Ajman, Ras Al Khaimah are the ideal choices.

Hence, in choosing the right Emirate for setting up the business, the above-stated parameters play a vital role in the decision making. Company Setup in UAE is a straightforward process with the Free Zones and Mainland offering easy and quick company formation process.

To know more about the Company Formation Process in UAE, connect with our team right away!

The post Which is the best Emirate in UAE for Company Formation? appeared first on AURION.

The ease of doing business in UAE, the robust business ecosystem, improved lifestyle, secured corporate banking network, lowest crime rates, etc., make UAE the perfect destination for establishing a company.

Why is Investor Visa a Popular Visa Category in UAE?

For business owners, there is a separate visa category known as the Investor or partner visa. Business Owners can register their companies in the mainland, or Free Zones and can apply for the investor visa.

Investor Visa in UAE allows an individual to manage a company of their own and sponsor employees and family members under the newly incorporated company.

Based on the location where the company is established the entrepreneur can apply for the UAE Investor visa.

How to Get a Dubai Investor Visa?

In Dubai, the entrepreneur can obtain an investor visa in two ways –

1. Registering a Mainland Company
2. Incorporating a Free Zone Company

There is one more popular way of obtaining an investor visa in Dubai and that through property purchase of a residential apartment, or a villa worth value (current sale price) above AED 1 Million for a 3-year visa, and AED 5 Million or above for a 5-year visa.

Also, there is a 10-Year investors visa where the applicant must invest about 40% of the total investment value (AED 10 million) in real estate in UAE and the rest in any business establishments or funds in the region.

Documents Required for Obtaining an Investor Visa in Dubai Mainland

• Passport copy
• Photograph with white background
• Memorandum of association for the company
• Copy of the Local Sponsor Agreement with UAE Nationality
• Immigration Establishment Card
• Trade License
• Office Space Lease Agreement
• Bank Statement for last 3 months

How to Apply for Dubai Investor Visa?

In Dubai Mainland, the Investor Visa can be applied in Amer Centres across the city.

After registering the company and obtaining the trade license, the entry permit for the entrepreneur must be applied if he/she is not in UAE currently (if in UAE, apply for the changing status by paying the in-country status change fees).

Steps in Applying Dubai Investor Visa

Once the confirmation of change status is received, the investor visa will be stamped on the entrepreneur’s passport. The required visa stamping fee must be paid to obtain the Investor Visa in Dubai.

The required documents must be submitted to the Amer Center for processing of the investor visa.

There will Extra charge for the medical testing and Emirates ID. The immigration Establishment Card would be required for applying for the investor visa.

Dubai Investor Visa for Free Zone company

The Free Zones in Dubai plays a vital role in attracting significant foreign investment through facilitating company formation.

It also provides the required infrastructure and support functionality to entrepreneurs wishing to invest and settle in UAE.

There is a steady growth in economic activities that are centered around the Free Zones of UAE.

Free Zones in UAE – Major Highlights

The major highlight of a Free Zone company formation is the 100% foreign ownership, ease of business setup, and the tax savings from VAT while being in a VAT Exempted Free Zone.

Free Zones are the favorite choice of foreign entrepreneurs for company incorporation due to the umpteen business benefits and the ease of setting up a company.

Also, obtaining an investor visa is hassle-free with the Free Zone.

How to Obtain Investor Visa for Free Zone Company?

For Obtaining the investor visa for a Free Zone Company, the following documents are submitted to the respective Free Zone Authority.

• Investor passport copy & photograph (white background)
• Establishment Card for the Company
• Company Trade License
• Memorandum of Association
• Tenancy Contract for the Office
• Bank Statement for 3-6 months

It usually takes 5 to 7 working days to complete the whole process of processing the investor visa.

Starting from applying for the visa to the final stamping of the investor visa on the passport the process is streamlined by the immigration authorities in UAE.

Depending on the Free Zones, the time taken to process the investor visa varies as the schedule of processing the visas differs across the Free Zones.

10-Year and 5-Year Investor Visa (Golden Visa)

UAE Government has launched a long-term Golden Visa to boost the economy and provide a platform for long-term investments in the region.

The long-term investor visa enables entrepreneurs to extend their tenure and expand their business investments in UAE.

There is a set of criteria specified by the UAE Government for the investors to be eligible for the investor visa.

To know more about it, read the criteria for Golden Visa in UAE here.

Other Residence Visas Launched in UAE

To make UAE a global tourist, family-friendly, and business-centric country, UAE Government has a list of specific UAE Residence Visas for individuals from different walks of life.

There a student visa for students studying in UAE colleges with the eligibility to sponsor their parents by meeting specific criteria.

Similarly, there is a retirement visa for ex-pats aged above 55 years subjected to few criteria such as having a financial saving of more than AED 1 million, property investment of value more than AED 2 million, etc.

To know more about various UAE residence Visa and steps in obtaining an investor Visa in UAE, connect with our expert team right away!

Contact Us: Aurion Business Consultants

The post Investor Visa Types in UAE – How Company Formation helps in Settling in UAE with Family? appeared first on AURION.

Starting from choosing the right company structure to obtaining the trade license, there are few steps that investors must be knowing to have a hassle-free company setup in UAE.

Investors in UAE – Things to Know before setting up a company

Knowing the right steps will help entrepreneurs save significant start-up costs. Also, to successfully run the business operations, the investor must ensure the company registration is done the right way complying with the business laws and authority guidelines.

Things to Know for the Investors before setting up their business establishment in the UAE.

Company Structure

There are a few company structures for setting up a business in the UAE. The company structure varies depending on the business jurisdiction – Free Zone, Mainland & Offshore.

1. Limited Liability Company

Limited Liability Company (LLC) is the most popular company structure in the Mainland of UAE. It No longer requires appointing a UAE National Sponsor for the company (51% share ownership) and the rest by the foreign owner.

Now, expatriate investors can own 100% shares in a mainland LLC Company as per the latest Commercial Companies Law.

There are only few strategic industry sectors and special business activities such as chemical products, petroleum products, banking services, etc., where local partner requirement is still a requirement.

Again, depending on the share capital deposit and approval requirements, the full ownership can be retained by the expatriate investor.

2. Sole Proprietorship

Another type is Sole Proprietorship where the investor will be the Single Owner of the establishment. A professional License has to be taken for this and is a favorable option for consultants, advocates, doctors, to start a small establishment themselves.

3. Civil Works Company

Civil Works Company in the mainland is another common company type that requires a professional license. It requires appointing a Local Service Agent for liaising with the government authorities for administrative and visa works.

4. Public Joint Stock Company

There are other types of Company Structures like Public Joint Stock Company, General Partnership, Simple Limited Partnership, Private Shareholding Joint Stock, and Branch of a Foreign Company.

5. Free Zones in UAE

Moving to the Free Zones there are mainly two Company structures that are Free Zone Establishment – Single Shareholder Company, and the Free Zone Company – Formed by more than 2 and up to 50 shareholders.

Some Free Zones in UAE has the provision of registering an FZ-LLC company structure for the investors, it is a 100% foreign-owned company eligible to enjoy all the benefits offered by the Free Zone

Documents Required for Company Setup in UAE

Most of the companies registered in the Free Zones and the mainland requires very minimal documentation. Few business activities require additional approvals and site inspections.

Often Commercial and Industrial Licenses require site/warehouse inspections and clearance from the government departments for ensuring the safety standards are in place.

Special Approvals and Business History for Corporate Bank Account Opening

Also, there are certain selected industry sectors like Finance, Transports, Oil & Gas, Healthcare, Education, etc., that require pre-approval.

Most of the business activities to be registered requires minimal documentation – investor passport and photograph.

However, during applying for the corporate bank account, the KYC norms would require to furnish previous business history, investor profile, previous company details (if any).

LLC Company in UAE – Documents Required

For LLC Company setup the following documents are required:

• Shareholder Agreement with the UAE National Sponsor
• Side Agreement to protect the rights of the foreign owner as well as UAE National Sponsor
• No-Objective Certificate (if already having UAE Residence Visa)
• Passport Copy & Photograph of Investor
• Board Resolution stating appointing of director/manager to newly formed LLC Company

LLC Company is an establishment in the mainland and can easily expand to locations within the UAE by forming branches of LLC Company. It is an ideal company structure for general trading companies intending to tap the local UAE market.

Steps for Company Steps in UAE

Now comes the understanding of the steps in the company setup process in the UAE. Be it a Free Zone company or an LLC one, the steps are the same. For Free Zones there is no requirement for the local Service agent.

Following are the Steps involved in Company setup in UAE

1. Choose the trade name and get the name approved. Follow the guidelines while choosing the trade name as the brand is built on the trade name
2. Finalize the company structure and the business activity (Aurion will assist you in choosing it right)
3. Choose the right business jurisdiction- Free Zone, mainland, or offshore
4. Submit the required documents, get the clearances and pay the fees
5. Choose the right office space and prepare the tenancy contract
6. Obtain the business license and start operating the business from day 1
7. Apply for a UAE Residence visa and proceed to open a corporate bank account.

Company setup in UAE is relatively straightforward, however, the process could get lengthy if not done the right way.

Hence, it is advisable to take the assistance of experienced Business Consultants like Aurion Business Consultants to set up your company in the most comfortable way.

To know more about Company Formation in UAE, talk to our expert Business Consultants right away!

Contact: Aurion Business Consultants

The post Company Setup in UAE – What do new entrepreneurs/investors need to know? [ A Detailed Guide] appeared first on AURION.