No, liquidation of Company outside Free Zone and in some Free Zone is time consuming and also expensive.
Frequently Asked Questions
Audit report is mainly required by the banks to get the bank facilities also to renew the license, some Free Zone has made it compulsory to submit bathe audit report, in some other case it is statutory requirements.
No, there is no income tax or corporate tax as such, however 5% custom duty has to levied on import, if the Company is outside Free Zone also the same can be claimed refund upon the re-export.
Cash being your personal saving can be deposited in any bank in the U.A.E. as a capital on Issue of letter from the Free Zone.
Out side Free Zone following are the most popular form of companies:
- Limited Liability Company(L.L.C Partnership) Establishment (Owned by local) and branch In
- Free Zone Following are the most popular form of companies:
- FZC (Free Zone Company, this is proprietorship company)
- FZE(Free Zone Establishment. This is proprietorship company)
- Branch (branch of a Local Company or Foreign Company )
- After setting up of Company ( after getting trade license ), Bank Account has to be opened
- Visa of investor / staff has to processed ( Six months validity of the passport required)
- P.O.Box has to be obtained
- Rubber stamp has to be made
- Telephone connection has to be applied
- For Import & Export from Dubai Port , exporter’s code (custom code) has to obtained.
Yes, you can operate business from Dubai and open a bank account also in Dubai , but the Certificate of Origin, if required has to be obtained from the Chamber of Commerce where the company is set up for export proposes.
Reply to above depends upon following factors:
- Nature & Size of the operations.
- Budget ( cost to set up the Company)
- Visa required ( depending upon the rent and size of the office)
- Requirements of the business ( customer / suppliers wants to visit to the office or retail business)
In Free Zone, you will be 100% owner and outside Free Zone Local Partner will hold 51% share & Foreign Partner will hold 49% share in the capital.
A-Normally you cannot, You can sell through a dealer or agent in order to sell the goods in the local market.