UAE is now days standing front as one of the prominent country for easier business setup when compared to other countries. Everywhere is business and there is nothing common about the business activities f
Office setup in Dubai free zone
UAE is now days standing front as one of the prominent country for easier business setup when compared to other countries. Everywhere is business and there is nothing common about the business activities from the olden days to till now. Money value have changed the way of customizing business from the exchange of goods (barter system) to the present method. However the goods or services have to be exchanged in order to meet the requirements. So building up business environment in a locality which then gradually covers the wide location of the market. Local business enterprises have started expanding their businesses worldwide through internet as their medium. With the use of internet technology by sitting idle in one location the complete market of the organization can be managed.
How to attain global market?
Market in local location will be the initial target for the business people to get easy stability to extend the customers as well as the market. The way of molding the goods or services of our company according to the requirements of the customers to obtain satisfaction is the success of business. Once the local market became stable and have eventually spread the market hold to nearby locations and finally to foreign countries makes an organization to achieve global recognition. In the present scenario the use of online marketing also made the companies to maintain global market coverage at any instant of time. Business people have their ideas in all categories for the present as well as for the future activities. Top most companies which is standing front in all over the world followed the same principle of opening their branch offices in other countries. People need to know whether the goods or services are offering by the particular concern in any specific location that can help for the better market coverage.
Let us start dealing with the branch office for a foreign company in UAE a glance.
UAE as you know the prominent place for the faster and safe branch office setup for the local concern as well as for the foreign company. Dubai one among the popular city in Middle East which offers fantastic options to open a new company or the opening of branch office. It is the commercial hub of oil make many to think for the foreign branch in Dubai free zone. The geographical location of Middle East provides you the business from European and Asian countries.
Free zones are the special economic zones where the business people is fully benefited with the free tax facilities along with the other added inbuilt advantages. As we are already ware about the branch office setup that a parent company will be heading the complete control over the child or sub branches. Simply the branch office does not act as separate entity in their procedure for setting up in UAE. Parent company name is taken directly for the branch office to do the trade activities.
Once you are decided for the branch office setup after the completed consultation with our expert then the time to proceed the steps is simple. Dubai which acts the commercial hub for newly setting up businesses and also for the foreign companies for the faster global market coverage. Apart from the online marketing business strategies the presence of companies in various countries also gives you results in the business activities. So free zones of Dubai can bring you fast transactions for the business activities even entering to new agreements with the parent company name. A centralized monitoring is enabled in free zones for each business entity to avoid the risk of roaming here and there for doing custom business actions.
Requirements for the foreign branch office setup in Dubai free zone
Local service agent
For every business in UAE need a valid business trade license for the effective business establishment and also for the branch office. It is the Ministry of Economy and Commerce provides you the trade license mentioning the business activities in detail and also about the office setup plans in the name of parent company. Since the company branch office is foreign to UAE there should be UAE national or any corporate body is required as an agent of the company in the country. An agent like person in the company can offer services without bothering the financial liability. So it is understood that a local service agent in Dubai imparting the company should be the right person to take the responsibilities over the company.
Documents for the Initial and Final Approval
- Registration and licensing application
- Proof of trade name reservation in the legal form of registration
- Address of the headquarters of the foreign company where it carries its activities
- Nature of activity intended to be exercised in the UAE
- Name of the national agent
- Names of partners, their nationality, and addresses in appropriate forms
- Memorandum and Articles of Association of parent company duly translated into Arabic and attested and notarized by the U.A.E Embassy.
- Copy of Board of resolution of Parent company expressing their intent for establishing a new branch office in the UAE
- Copy of the parent company’s certificate of Incorporation duly translated into Arabic and attested and notarized by the U.A.E Embassy
- Lease agreement of physical address and feasibility study, if required
The initially documents is evaluated by the concerned authorities and if it is satisfied then will send a letter of initial approval to the applicant. Once it is received by the applicant he/she has to submit the following documents for final approval.
Documents for final approval
- Initial approval letter
- All documents that are submitted in the initial stage
- Copy of office space leasing agreement, including the plot number
- The original of the contract signed with the national agent duly signed by the public notary
Once the above process is completed then the stage of opening office is initialized in Free zone with 100 percent ownership. It is already mentioned that the branch office not considered as separate entity but the differentiation is important in some factors like the financial budget (separate profit or loss).