Nominee Service Solutions in the UAE
SORP Group provides qualified individuals to fill corporate roles as nominees. In various cases, they are required to represent the company in front of authorities. A local partner, for example, is required to obtain licenses for company formation in Dubai and demonstrate that the company has economic substance in the UAE.
Using nominee services to fulfill corporate functions is a common and beneficial practice for UAE company incorporation. According to the law, you need a local sponsor to fill a specific corporate role in certain situations, such as a business setup in Dubai mainland. They can also act as nominee directors, shareholders, nominal employees, and others while having no beneficial or executive rights in the company and only carrying out the directions of the beneficial owners, who may be located in another country. To comply with the Economic Substance Act, nominees can conceal the identities of beneficial owners from non-governmental investigators while confirming that the business is managed from the UAE.
Purpose of Nominee Services
To Register a mainland Company
Provision of a local partner or agent and another nominal yet suitably qualified staff needed to fulfil the licensing criteria for a company.
- A number of commercial licenses - for example, investment and finance - require nominee services
- The company must contact a local UAE agent, not a shareholder, to obtain a professional license and complete the application process.
- To obtain some special licenses, the company must agree on labor contracts with staff who are UAE residents with verifiable relevant education and work experience.
To Confirm Economic Substance
Provision of a nominee director and nominal staff to prove economic substance in the UAE and that the company is managed in the UAE.
- Senior management who resides permanently in the UAE proves that the businesses are managed from within the territory of the Emirates.
- Having UAE residents as key company employees proves that vital control and management decisions occur in the Emirates territory.
- Outsourced technical staff employed in the UAE proves the rationale for the economic substance of the company in the Emirates.
To Perform Special Functions and Tasks
Nominee services help to keep beneficiaries’ information, and interest in a business confidential and to hold non-affiliated entities.
- Having nominee directors submit documents to trading partners means information about the actual owners will not be revealed.
- Increasing the shareholding of the nominee shareholders in a business makes it possible to avoid the requirement of a CFC declaration.
- Nominee services make it possible to use the transfer pricing principle and perform settlements between affiliated entities.
SORP Group's Comprehensive Solutions for Company Setup in Dubai
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Company Registration and Obtaining Relevant Licenses
SORP can process incorporation quickly and smoothly for local (mainland) businesses and also assist you with Freezone business setup.
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Renewing your Company's Business Licenses
We can represent you in front of relevant regulating UAE authorities for the obligatory annual renewal of licenses and all permissions to operate your business.
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Registered Address in Dubai for your Business
Rent an office or a flexi desk in our 54000 sq. feets of prime office space at our business center in Dubai. Get a prestigious address, help with licensing and space for staff in SORP BC.
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Opening Corporate Bank Accounts in the UAE
We guide you through Know Your Customer procedures with your choice of leading UAE banks. Our know-how gets things done fast with top-quality support.
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Confirmation of the Company's Economic Substance
Proof of conducting an economic activity at the place of registration, ownership of a local management control unit, and tax residency (tax domicile) confirmation.
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Outsourcing the Company's Admin Business Processes
You can outsource administrative, recruiting, accounting, PRO, and tax services to SORP, saving the cost of employing highly paid personnel.
Why Choose Us?
Get a Consultation With SORP Group Experts
SORP Group’s experts follow the latest global trends and developments very closely indeed, and are ready to provide highly professional support for your business.
Contact our specialists and get prompt assistance in choosing the best fit solution!