Business Setup in Dubai, Company Setup Dubai

1. Professional Company in Dubai “Dubai is in transition to a fully smart city” – HH Sheikh Mohammed Professional companies are usually partnerships that can offer professional services, such as consultancy, media, craftsmen & artisans, and accounting. These companies cannot engage in commercial Key features activities. The main feature of an Professional Company is that 100% foreign Can cater to the local market shareholding is permissible (very few exceptions); however, this form * of company can be formed only by an individual or a group of Can participate in Government tenders * individuals (corporate shareholding is not allowed). These companies can bid for Government contracts, as opposed to free zone companies, Wide range of locations, including malls in Dubai * which are usually not allowed to do so. Licensing covers all professional activities * Businesses can be registered anywhere in the mainland; a wide range of choice - from the lanes of old Deira to the shining towers of Business 100% foreign shareholding possible * Bay.

2. Covers all professional activities, including consultancy… Cater to the local Wide range of locations market additional approvals would be An Professional License required for certain professional offers the flexibility of activities. 100% foreign ownership, in In addition to this, companies can a wide range of locations… avail benefits from the extensive Dubai is a fast-growing market, network of double-tax avoidance with an ever-increasing business treaties that the United Arab and resident population. The Emirates has signed with services industry is also growing countries worldwide, including rapidly as a result. countries such as India, Pakistan, Singapore, China, Malaysia, Setting up an Professional Canada, Germany, Italy, Austria Partnership in Dubai is a and Holland. relatively straightforward process, with new e-initiatives Dubai offers the additional Recommended for professionals and consultants who wish to cater to the local population. ensuring promptness and benefits of a very high standard efficiency. The main licensing of living and a vibrant expatriate authority is the Dubai community with people from Department of Economic over 180 nations living and Development (DED), although working in the region. © KPI Business Advisors & Consultants 2

3. TYPES OF LICENSES DOCUMENTATION REGISTRATION AND LICENSING COSTS Professional Services Individual Shareholder Trade name reservation and SHAREHOLDING Personal KYC and detailed initial approvals (one time) – US$ resume 192 Sole establishment – 1 shareholder Memorandum & Articles of Annual Licensing - Civil Works Company - Minimum 2, Association signed at the Dubai maximum 50. courts Professional License – from 100% foreign shareholding US$ 3,600* Other routine documentation permissible.* viz. application forms, specimen *varies based on office space signatures etc. *UAE National service agent required. availed and other factors (corporate shareholding is not TAXATION VISAS allowed) No corporate tax or capital gains, Based on size of facility availed, SHAREHOLDING no personal income tax or any usually around 80 sq.ft. per visa. other tax levied by the authority. Share Capital – No minimum share capital OFFICE BEARERS 1-5 Directors One Manager FACILITIES OFFERED Commercial Offices | Warehouses | Mall space Prices vary depending on location. FINANCIAL STATEMENT AUDIT | BUSINESS CONSULTING | MARKET ENTRY STRATEGIES | CORPORATE SERVICES | ENTERPRISE RISK MANAGEMENT | BUSINESS PROCESSES & KPI’s | CFO SERVICES | ERP IMPLEMENTATION Enabling Performance. Discovering Value © KPI Business Advisors & Consultants 3

4. ABOUT KPI another Audit firm in Dubai, one of the emerging market leaders. The KPI, an Audit and Advisory firm in firm transformed into a valued Dubai, as a practice has more than business partner in the GCC and Mr. two decades of heritage that we are Kamath headed the Consulting proud of; one that has seen economic Practice in the merged entity. highs and lows, along with the rise of Dubai and United Arab Emirates to In December 2011, the practice was international prominence. spun off from the merged entity and re-branded as KPI. Kamath Auditing was formed in the year 1992 in the UAE. The firm grew KPI is an independent member of quickly in fame among clients and GMN International, an association of the industries it operated in. In carefully selected professional KPI has a pedigree and a sound track record of consistency in providing advice tailored to your needs… addition to regular audits, clients accounting firms established and approached the firm for many respected in their own countries. advisory and consulting activities for GMN International has 70 offices in feasibility studies, due diligence, more than 32 countries across market research and valuation Europe, North America, South projects. America, Asia Pacific, Africa and the Middle East. In 2001, the firm was merged with Contact Us Suite 3108, The Citadel, Business Bay P.O.Box 121395, Dubai, United Arab Emirates Tel: +971 4 455 1010 Fax: +971 4 455 1011 admin@kpi-global.com DISCLAIMER While every effort has been made to ensure that the most recent and pertinent information is available on this site, it is possible that some of this information may have changed after it was posted here. Please note that this information does not constitute legal or professional advice. Please write to us at admin@kpi- global.com for the latest information and appropriate advice. GMN International is an association of legally independent accounting and business advisory firms. Each firm is a separate and independent legal entity and as such has no liability for the acts or omissions of any other associate firm. GMN International is the brand name for GMNI Coordination Limited (GMNICL), a UK company limited by guarantee which provides coordination services to its members. GMNICL does not provide, supervise or manage services to clients and is not responsible or liable for the acts or omissions of any of its members nor can it control the exercise of their professional judgment or bind them in any way. Services are delivered to clients by the members of GMNICL. GMN International is an association and does not fall within the definition of "network" under the International Federation of Accountants (IFAC) Code of Ethics, Section 290 and the European Union Statutory Audit (revised 8th Company Law) Directive.