Opening of onshore company in the UAE

Are you thinking of providing services and to do trading business directly in the United Arab Emirates, for example, open a company trading with industrial equipment and carrying out its installation and maintenance?

In this case you need to register UAE onshore company.

Onshore companies in the UAE are exempt from taxes and are deemed resident. In addition, the director of such firm has the option to control company business from the office located directly in the United Arab Emirates.

The advantage of onshore company is that foreign directors, shareholders and employees (and their family members) may obtain residence in the United Arab Emirates whereby there is no need to reside in the UAE on permanent basis. In order to retain resident visa, it is required to visit the country for one - two days every six months.

How to open onshore company in the UAE?

Incorporation of onshore company in the United Arab Emirates has its specific features:

• Shareholders may be of both types - individuals as well as legal persons. There are no restrictions relating to citizenship of directors and shareholders of onshore companies;
• Minimum share capital is determined depending on the type of company and can range from 1 thousand to 140 thousand US dollars. It may be used by the company immediately upon it is registered;
• For incorporating onshore company in the UAE it is required to obtain a license for specific type of business, and submit business plan, i.e. the main description of business itself;
• Compulsory requirements to onshore companies (in its majority) are submission of yearly accounting and audit reports;
• When registering onshore company the director or shareholder shall be present in person for at least 1 day period in order to sign incorporation documents and open bank account.

The registration process starts with selection and reservation of trade name of onshore company. Subsequently lease contract is to be signed depending on type of company's business: retail, warehouse or office. In some cases there is the possibility for a virtual office. The next step entails submission of documents for obtaining license. Usually it is issued for the period of one year, and its costs depend on such factors as type and specifics of company business and costs of the selected office lease package. The final stage entails registration of the company and collection of all documents. Incorporation procedure also includes opening of company account

Our company will help you to open onshore company in the UAE, and will provide complete package of services relating to registration, including preparation of all required documents. If you need an advice and would like to leave an inquiry - please feel free to contact us.