Nominee Service Solutions in the UAE
SORP Group provides suitably qualified personnel to fulfil corporate roles as nominees. They can represent the company in front of the authorities, for example to obtain licenses and to prove that the company has economic substance in the UAE.
Using nominee services to fulfil corporate functions is a very common and useful practice when incorporating in the UAE. Local UAE nationals are required by law to occupy some corporate roles in certain scenarios. They can also act as nominee directors, shareholders, nominal staff and more while having no beneficial or executive rights in the company but solely carrying out the directions of the beneficial owners who may live abroad. Nominees can shield the identities of beneficial owners from non-governmental inquirers and confirm that the business is managed from the UAE in order to comply with the Economic Substance Act.
You might need Nominee Services for your UAE business to perform the following tasks:
To register a mainland company
Provision of a local partner or agent as well as other nominal suitably qualified staff needed to fulfil the licensing criteria for a company.
- A number of commercial licenses - for example, investment and finance activities - require a local partner with a 51% share
- To obtain a professional license the company must contract a local UAE agent, who is not a shareholder, to perform the application process.
- To obtain some special licenses the company must agree 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 reside permanently in the UAE proves that the businesses are actually managed from within the territory of the Emirates.
- Having UAE residents as key employees of the company proves that the 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 their 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 solutions for comprehensive support of your company in the UAE
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Company registration and obtaining relevant licenses
We are registration agents for several Free Zones. SORP can process incorporation quickly and smoothly, and for local (mainland) businesses too.
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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. 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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Outsorcing the company’s admin business processes
It makes sense to use SORP’s expert professional administrative, recruiting, accounting, PRO and tax competencies, saving the cost of employing highly-paid personnel.
SORP Group is your reliable partner ready to assist you in starting a successful business in the UAE
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.
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