The activities that businesses can perform in the UAE are restricted to those listed in the entity’s license issued by the Economic Department in the relevant emirate. To start your business sucessfuly, you should choose the most appropriate type of license depending on the contemplated business activities. Knowing procedures of obtaining the license and pecularities of its renewal and cost is also very important. SORP provides a “turnkey” solution for incorporating your business in the UAE and offers a comprehensive range of services supporting your business needs in the country.
Choose the target for your contemplated business activity for incorporation in the UAE
Business license is a main statutory document which reflects the date of incorporation and expiry, listed permitted business activities, names of the owner and the manager.
Free Economic Zones foster an attractive environment for those businesses focused only on international operations (i.e. outside of the UAE) and/or the economic activity within a free zone. The best alternative is to incorporate a company locally ( mainland of the UAE) to unlock unlimited investment benefits for conducting a true exterritorial business in the UAE and in any other destination abroad.
The stages of business setup in the UAE
Preliminary due dilligence
Success depends on analyzing the competitive environment and adapting your business strategy accordingly. What works in other countries does not necessarily work well in the UAE and vice-versa
Choosing the most appropriate form of incorporation
Where you incorporate is important and will be guided by the intended theater of operations (local / international). Different jurisdictions provide varying levels of confidence for banks as well as prestige and credibility for your business
Understanding licensing procedures
A business license should match the intended business activity as much as possible. Additional licensing requirements of local authorities should also be allowed for
Choosing a type of legal entity
Depending on the type of license and the jurisdiction, the law dictates what legal entity and organizational structure is permitted, along with foreign & local ownership regulations
Obtaining a license and registering
A license can be obtained after meeting local authority requirements (if any), confirmation of a valid business address and payment of the cost of the license and registration fees
Business support and license renewal
The final stage is choosing the right management consulting company that will provide tailor-made administrative and legal support for business operations. It should also renew your license and other permissions in a timely manner
SORP expert solutions for incorporating businesses in the UAE
SORP Group provides a set of solutions for licensing most types of businesses in the UAE. Being in close contact with Government authorities and holding the status of an agent in Free Zones, SORP guarantees prompt and seamless registration procedures.
Define a business model
SORP will advise on a right type
of a license and on appropriate
legal entity for your business
Incorporating and licensing
SORP’s expertise in the local corporate industry guarantees
a support with utmost diligence.
Local Partner or Agent
Nominee service from SORP Investment LLC with a waiver
in the Dubai court
Business address in Dubai
SORP Business Center provides clients with an office lease for the purpose of licensing and doing business with Ejari / Estidama, flexi-desks and virtual office.
Opening bank accounts
SORP has a close cooperation
with leading banks in UAE, providing clients with a full range of support to ease compliance and passing all KYC procedures.
Business Administration
SORP provides legal and tax consulting, accounting as well as administration services to ensure that clients are supported with all their business and statutory needs.
What UAE law requires for incorporated and licensed businesses
License validity period
Licenses must be renewed annually accompanied by a full year audited financial report, renewed premises lease agreement, and fulfillment of any other requirements of regulators.
Licensing fees
Licensing and renewal is the mechanism whereby the state exercises a form of control over businesses and represents a hidden tax. Mandatory annual renewal payment is required to remain in business.
Bureaucratic procedures
Renewals are subject to the very same approvals as are required when submitting the initial application. This procedure requires permission from the relevant authorities, with a renewed premises lease contract and agent contract to be presented.
SORP’s license renewal services
According to the current legislation, each business license in the UAE must be renewed annually. This requirement remains the same for all types of entities incorporated locally (mainland) and in free economic zones.
Local partner or agent
SORP will provide a nominal
UAE partner service and renew the previously conducted agreements and current contracts.
Annual office lease at SORP Business Center
SORP will allow you to save money each year by providing a lease of minimal required office space at
its own SORP Business Center.
Professional administrative support for businesses
SORP provides renewal services
for licenses, permissions and other statutory documents in the UAE, including complicated cases.
Benefits and requirements for incorporating your international business in the UAE
Protection from tax information exchange
Having a UAE tax domicile will exclude a business entity from automatic tax information exchange under the CRS mechanism.
Confirmation of economic presence
Justification is required for conducting operations from within the UAE as proof of the legitimacy of tax optimizations abroad.
Tax planning opportunities
UAE legislation provides an environment free from controls on the movement of capital - an important prerequisite for conducting international business, for tax optimization, and free cash settlements.
SORP services for international business
SORP Group of Companies equips entrepreneurs with a unique set of business tools for effective tax planning and optimization of international economic activity through the means of UAE legislative norms.
Tax residency in the UAE
All UAE residents are protected
from an automatic exchange
of tax information when doing banking transactions.
International tax planning and optimization
Tailor - made solutions for
enhancing tax optimization
for international business
through the UAE legislation.
Confirmation of economic presence
Proof of the economic presence
in the UAE through the onshore management (decision) center
and tax residency.
The global trend towards increased control over businesses leaves fewer legal methods to minimize the tax burden, optimize cash flows and allocate funds to bank accounts. However, incorporating a local (mainland) company in the UAE provides business people with a powerful set of tools for solving such problems. They include protection from automatic exchange of tax information, of information on bank accounts and other assets, under the provisions of the CRS mechanism.