Tourism and other services are some of the new things Dubai is setting its sight on to better its economy and escape from becoming excessively dependent on the oil and gas industry which customarily fuels its economy.. Owing to the outstanding effort of Dubai’s new rulers, it is experiencing an unmatched outbreak of Dubai companies financial activities in other areas like tourism and international investments.
For companies wishing to conduct business in Dubai, locating in a free zone is a viable route to consider. Called as Free Zone Establishments, they are organizations formed, licensed and regulated by authorities different from non free zone businesses. Whilst started way back in 1985, facilities and infrastructures offered at the Jebel Ali Free Zone is adequate to gratify all necessities a regular business would need. They likewise have different capital requirements and liability restrictions which is Dh 1 million and the amount of paid-up capital, respectively. One requirement for a corporation who would like to establish operation in a Dubai free zone is simply a sole shareholder.
Your presence in Dubai isn’t required should you wish to incorporate a company. If you have decided to make use of the expert services of an agent to conduct all dealings, you merely have to drop by their office once to sign the documents.
As it’s not a tax haven and isn’t a member for any information exchange treaties, Dubai corporations could considerably gain when deciding to invest and do business in this place One major advantage of Dubai companies is confidentiality as there isn’t any public register of shareholders and directors whenever you incorporate a company here. Setting up a corporate bank account in a bank at Dubai, UAE is permitted but you are not also forbidden from opening Dubai offshore companies in other venues. Corporate records and activities may be kept as private as is possible and the government would not try to examine them. When an onshore company could never provide this, corporate secrecy and privacy of Dubai companies is acknowledged and honored in the offshore community.
Because of its status as an attractive trading center, Dubai is known as being a major Global Financial Center.