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SFM IN PRESS

Protecting your assets in the UAE : Introducing the DIFC Will

11 September 2018

Succession planning in United Arab Emirates (“UAE”) for non-Muslim resident and foreign investors: how to protect your assets located in Dubai and in Ras Al-Khaimah?[..]

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Did you know that a $10K investment can get you a tax-free company and residency in Dubai ?

30 July 2018

Due to recent legislative changes and increased compliance with international tax avoidance regulations, Dubai is no longer just a viable option for incorporating a new business. In fact, compared to others and due to these recent developments, it is fast becoming the destination of choice. [..]

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OUR 5 EASY STEPS TO COMPANY FORMATION

 
Experts in company formation

Contact Us for a Free Consultation

UAE laws are diverse with many incorporation options including residency and labour laws.

SFM provides complimentary consultation regarding UAE incorporations to existing and potential clients. Such advice is beneficial for a new company wishing to enter this lucrative market. helping them to navigate through the red tape and complicated procedures.

From Free zone entities to local onshore incorporations, SFM is up-to-date with new laws and regulations. We put all this information at your disposal so you can focus on managing your company instead of wasting time dealing with government entities and formalities.

The advantages of a UAE incorporation are as follows:

  • Strong and reliable banking with a currency pegged to the US Dollar makes for a good banking environment
  • Liberal laws and free movement of funds means no restrictions on capital and profit repatriation
  • UAE is not a tax haven but it is easy to use UAE company formations to deal with different clients worldwide
  • The history of import-export and the strong trading tradition of UAE make this an attractive location for any company dealing in international trade
  • There is a strong construction industry, providing a huge market for all associated activities to prosper
  • A UAE corporation is free to hold accounts all over the world, giving you a respectable institution with access to worldwide banking. At SFM, we pride ourselves on our banking introduction abilities
Experts in company formation

Select your Company Type

The United Arab Emirates offers several incorporation options operating within the various jurisdictions. Each jurisdiction requires decisions on the type of entity and the different types of offices/warehouses/showrooms.

Once complete, there are visa formalities and medical examinations: This may sound overwhelming, but SFM will guide you every step of the way. You will not need to make unnecessary visits to submit or sign documents. SFM carries out most of this work and will only ask you to attend when mandatory.

SFM will advise you on the most suitable package for your needs and ensure your success and continuity. Whether a General trading license, a specialized trading license, industrial license, professional service licenses or any other incorporation type, we aim to provide the most relevant information.

The Free Zones offer similar incorporation, but which is most suitable for your specific needs?

Which Free Zone is most suitable geographically to the areas of business most relevant to your needs?

How many employees will you accommodate in your offices, and is this possible with the incorporation package you are considering?

These questions and more will arise once you begin to look at incorporating in UAE. We are here to provide information relevant to you.

Experts in company formation

Get a License Notification

Once the necessary documents are obtained and formalized, the initial application process will begin at the relevant issuing authority along with registering the company’s formal name. This crucial stage paves the way for clarification of the final fees and the final acceptance of the company’s proposed activities.

Once you have received the initial approval, SFM can settle the final fees and expect issue of the incorporation certificate. A dedicated SFM Corporate Service Officer will guide you through this entire process. The summary of different companies available for you to incorporate are as follows:

Limited Liability Company

  • A versatile company
  • A sponsor is needed
  • The foreigner may own no more than 49% of the shares
  • Office space is required (we can arrange virtual offices also)
  • Residence Visa is provided depending upon the license
  • Able to open UAE accounts and accounts worldwide
  • Has access to other GCC markets through UAE incorporation
  • Permitted to register at the Dubai Chamber of Commerce

Professional License company (no limited liability)

  • Only able to conduct business in the specific area of expertise of the license owner/manager
  • Needs a local service agent
  • The foreigner may own 100% of the shares
  • Office space is required (we can arrange virtual offices)
  • Residence visa is provided
  • Able to open UAE accounts and accounts worldwide
  • Has access to other GCC markets through UAE incorporation
  • Permitted to register at the Dubai Chamber of Commerce

Free Zone Company

  • May trade only within the specified free zone and elsewhere in the world
  • A 5% customs duty applies to any goods exiting the Free Zone destined for elsewhere in UAE
  • No sponsor is needed
  • Foreigners can own 100% of shares
  • Residence visas are issued
  • Office space is required within the free zone; this is strictly enforced
  • Able to open UAE bank accounts and accounts worldwide
  • May join the Chamber of Commerce through the relevant office in the specific Free Zone

Offshore company

  • Only able to trade outside of the UAE
  • No residence visa is issued
  • No local sponsor needed
  • Foreigner can own 100% of shares
  • may hold UAE bank accounts
  • May hold bank accounts elsewhere in the world
Experts in company formation

Rapid Bank Account Opening

At SFM we consider a company impractical unless it holds a corporate bank account. The exceptions are holding companies created with the sole purpose of holding shares in other companies. Thus, we have developed a banking network and expertise enabling us to open accounts for all companies we register. However, the final decision to open an account depends on the bank. So far, our account opening success rate in the UAE is 100%.

Our professional status as «International Corporate Service Provider» and presence of a signed good conduct charter demonstrates our status as «eligible introducer» in the eyes of the financial industry. Because of this, opening an account and managing the dossier is simple. We send the banking file directly to our clients. We open bank accounts by correspondence for most international banks with whom we work. However, in the UAE the law requires that the client visit the bank in person. We arrange meeting between banks and our clients at our own offices to ease the process. You are permitted to open personal bank accounts for you and any relatives and/or employees at this stage too. The account becomes active around 5 working days later. You will then be given online access. Requested cards will be dispatched to the address you specified or delivered in person.

Typically, the following facilities are available from the financial establishments with whom we work:

  • Multi-currency accounts
  • E-banking
  • Trading in currency, shares and other titles
  • Interest-bearing accounts
  • Credit and debit cards
  • Letter of Credit
  • Structured products
  • Capital Guaranteed products

With fifteen years of experience in the field, we select banks that are secure, provide excellent services, and offer a range of banking facilities.

How do we choose our banks?

Before selecting a bank, we look at other important characteristics too:

  • Bank confidentiality to preserve customer privacy
  • Financial guarantees to avoid the risk of bankruptcy
  • Excellent reputation of the institution
  • Wide range of financial products

The SFM customer profile is varied and includes, among others: entrepreneurs, pensioners, shareholders, import & export businessmen, heirs, consultants, patent owners and many more. Our banking network allows the opening of accounts for any type of activity and to suit our diverse clientele. We arrange all the relevant paperwork to open the bank account, allowing our clients to simply focus on the development of their business strategy whilst they rest assured that we are dealing with the administrative processes.

Experts in company formation

Visa Processing & Stamping

There are a few mandatory formalities to complete before you receive a UAE Residence Visa. We guide clients step-by-step through UAE’s immigration formalities. Our specialized team of public relations officers endeavour to streamline the process and make it as fast as possible, allowing our valued clients to focus on their business performance. We also provide immigration advice concerning your family and staff, should you require it.

The immigration process falls under two basic categories. The first is residency; the second combines residency with work permits so you may work commercially in the country. The various entities involved are the Naturalization and Residency Departments, and the Department of Labour. The Ministry of Interior may also be a part of the formalities.

Once a company is formally incorporated in any of the UAE jurisdictions, the residency visa process begins. This is a simple process involving a medical exam. This is mandatory for residency.

Generally, the medical examination takes a maximum of 5 working days although this can be expedited in most cases with an urgent medical application.

Once the Residence Visa is approved, there is a simple process of entering it into your passport. You will also receive you’re an Emirates Identification Card. For persons wishing to take up employment, it is mandatory to obtain a labour card from the Labour Ministry.

SFM’s dedicated corporate service officers will be at hand throughout to assist you and speed up the process where possible.