REGISTRATION OF COMPANIES IN THE UAE, OPENING OF BANK ACCOUNTS

Worldwide MSC Trading provides comprehensive assistance in registering a business in the UAE. The experience and knowledge of our experts allows you to register your company as quickly as possible without difficulties and bureaucratic delays. We provide comprehensive assistance from consultation to the preparation of constituent documents, opening a bank account and further business support.

Many entrepreneurs see the United Arab Emirates as one of the most promising destination for entering new markets and expanding their business. The Emirates have representative offices of successful multinational corporations, which speaks of clear rules and comfortable conditions for business.

ADVANTAGES OF OPENING A BUSINESS IN THE UAE

The region has a developed infrastructure, rich in minerals, and favorable conditions for business. The authorities are interested in attracting foreign investors and are supporting them. Special economic zones have been created here, where launching a business gives certain privileges.

Other benefits of starting a business in the United Arab Emirates include:

VAT - from 0 to 5%

Income tax - 9% since 2023

Registration of a company with 100% foreign capital is allowed

High level of trust in UAE companies

Securing Investor Protection

Favorable geographical location for international trade

Stable political environment

Developed logistic structure

Highly skilled workforce

Despite the fact that the government strives to simplify the process of registering new companies for foreign entrepreneurs, starting a business in the UAE has its own specifics. Without knowledge of the legislation, language and peculiarities of the registration procedure, starting a business can cause certain difficulties.

Worldwide MSC Trading will help to avoid these difficulties and to register your company in the UAE and open bank accounts as quickly as possible. We also provide a wide range of additional services that will help your business to develop dynamically, such as legal support, assistance in issuing permits, organization of business trips, customs clearance, banking consulting, etc.

FEATURES OF COMPANIES REGISTRATION IN THE UAE

In the United Arab Emirates, you can register a business:

Local company (Mainland)

A company that has the right to conduct business on the territory of the United Arab Emirates and outside the country without restrictions. A foreign owner can own 100% of a company.

Free Zone Company (Free Zone)

A company that is registered in a special economic zone. These areas are generally designed for specific business sectors. An entrepreneur can be a 100% owner of the company, conduct international trade, and enjoy tax benefits. Owners and employees have the right to issue residence visas. However, there are geographic restrictions on doing business in the UAE. Also, the company cannot participate in government tenders.

Worldwide MSC Trading will help to register your company in the UAE and open bank accounts as quickly as possible.

Offshore Company

Can only be registered in certain free zones. This kind of companies is exempt from paying taxes in the UAE and is not subject to currency control. The company can have a legal address, but it cannot conduct real business in the UAE.

REGISTRATION PROCEDURE

The procedure of registering a company in the UAE includes several stages:

Choosing the right type of the company.
Choosing the type of the activity and the name.
Preparation of basic documents.
Submission of documents for registration.
Confirmation of registration.
Registration of a residence permit and Emirates ID.
Opening a bank account.
Registration of licenses and other permits.
After obtaining permits, opening a bank account and renting an office, the company can legally conduct business.

Registration may be specific depending on the type of the company, number and status of shareholders, requirements of the free economic zone and other factors. Mistakes at this stage will lead to the fact that the registration of the company will be refused or there will be problems at the stage of opening bank accounts, as a result of which the entrepreneur will lose time and money. To exclude such a situation, contact Worldwide MSC Trading for a consultation.

OPEN BANK OCCOUNT

To open a current account in the UAE, the manager and founders must have a residence and legal address in the country; in addition to that, they must provide bank account statements for all partners. UAE banks open corporate accounts for residents and non-residents. The first provides access to a full range of banking services, while the second provides limited banking services in addition to applying certain restrictions on it.

The step of opening a bank account is the most difficult step in organizing a business in the United Arab Emirates. Poor knowledge of offers in the banking services market, the features of the financial system and financial limitations lead to difficulties and possibly to refusal to open a bank account.

We provide all the necessary services to open a bank account. We also help you choose the right bank to meet all your company’s requirements. Such as working with revenue, processing payment cards, investment projects and much more.

Worldwide MSC Trading Company is your trusted partner for starting and running business in the UAE. We provide comprehensive turnkey services for company registration, opening a bank account, obtaining permits and further business support

For more information, contact us