FAQ'S

Yes! An office is mandatory to set up a company in the UAE.

Corporate Income tax is charged at 0% in Dubai. They also allow the full return of profits and capital.

To set up a new company in UAE mainland, A UAE national as a local sponsor is necessary to act as an agent of the company. But in case of a free zone, it is not necessary.

Following documents are required by law for trade renewal license”

• Signed application form
• Signed office lease contract (EJARI)
• Shareholder’s passport and Visa (copies)

Following documents required including:

• Signed visa application form
• Passport copy with 3 empty pages and having a validity of more than 7 months
• Documents showing current visa status
• Company license copy
• Copy of immigration card
• Employment contract
• Copy of university degree
• Passport size photographs (white backgrounds)

Following documents required including:

• Visa application form
• Passport copy with the UAE residency visa
• Company license
• Immigration card
• Employment contract
• University degree copy (if applicable)
• Passport size photographs

Following documents required including:

• Dependent’s visa application form
• Sponsor’s passport copy
• Sponsor’s resident visa copy
• Dependent’s passport copy
• Documents showing current visa status copy
• Sponsor’s Emirates ID card
• Ejari registration certificate
• Sponsor salary certificate
• Sponsor’s marriage certificate
• Dependent’s passport size photographs

It takes 2 to 7 working days in the renewal of the license.

It takes 6 to 10 working days in the processing of new visa license. It may take more or fewer days than mentioned based on the requirements of the UAE government.

It will take approximately 1 to 3 weeks depending upon the UAE law requirements.

To change the name of your existing company, you must come first with a new name for your company. Then get approved it from the licensing authorities in the UAE. After getting their approval you need to publish an advertisement in a local newspaper declaring the new name of the company.

You can sell your company after getting immigration pre-approval of the new owner, return him all company documents, sign share selling agreement and make a contract between the buyer and seller of the company.

After getting your establishment card, contact your visa consultant immediately. They can guide you about the necessary documents and the process.

It is a complex process of transferring your existing company to any other free zone. But you can set up a new branch of your company there.

To open a new bank account in the UAE you require following documents including:
The original corporate documents provided by us:

• Shareholder’s cv
• Directors CV
• Summary of business

In the UAE, opening a new bank account is totally free. But each bank contains its own requirements to hold minimum balance each month.

After getting your license, you will instantly receive an email from us. Then you will have a meeting with our specialists and will get your documents at the time of the meeting with our representative.

You will get a notification before three months of expiry of trade license. It will allow you to contact concerned authorities and follow the procedure.

First, you need to do a medical fitness test and get registered for Emirates ID renewal. After getting a medical test result, contact our representative near you. Provide us your passport with related documents. Our visa specialist will guide you through the process.

Yes, you need to properly structure your business first, at precious point, we completely guide through the process. We will guide you how you can have complete control over your business while operated by your local partner.

If you’re local partner dies or do not be able to work for you than their heir will inherit their share in your company. It is up to the will of the heir if he or she wants to continue with you or not. At Precious point, we offer a corporate nominee shareholder services that will protect you from any loss at the time of your partner dies.

Yes, it is possible now. If you are interested contact us immediately. We will guide you completely throughout the process.

Precious point provide leading services solutions to change your existing local partner. We will send a 30 to 40 days prior notice to your existing partner to transfer shares to the new partner. Or if you want to negotiate him directly, fix your terms at the time of exit.

Yes, A mainland company can own both commercial and residential property in the UAE.

Yes, if you get your company license with Precious point, you will get a complete power of attorney. You will also get complete management control.

Only one director is required to register a company in the free zone, UAE.

It provides complete ownership, complete freedom of profit and income. It also offers a wide range of exemptions, tax-free zones, and no import tariff zones. There is also not a currency restriction there.

In the free zone, a new company can be incorporated as a Free zone company (FZC), Free zone establishment (FZE) and a new branch of foreign or local business.

Only one director is required to establish a new company in the Dubai internet city.

Dubai internet city is a great opportunity. It provides:

• Complete ownership
• Complete return of capital and profit
• Tax exemption
• Free import duty
• No currency restrictions

Dubai Techno Park focuses on the following sectors including:

• Innovation
• Infrastructure
• Life science
• Industrial development
• Information Technology
• Socio-Economic knowledge

Economic sectors focused in Dubai Techno park includes:

• Energy resources
• Water resource management
• Environment resource management

Dubai Techno Park issues licenses including:

• Professional activity license
• Industrial activity license
• Trading activities license

To commercially register a business following step need to be followed:

• Choose a business activity.
• Decide the structure of the company
• Get approvals from concerned sector’s regulators
• Pay required a registration fee
• After completing all legal formalities, a CR (commercial registration) will be issued by the Ministry of industry and commerce.
• This commercial registration can be renewed every year.

Yes, 100% foreign ownership is allowed in the UAE to set up a new business. May some sector-specific and company type restrictions apply. Kindly consult with our business development experts to know more about it.

It will take approximately 2 to 7 working days to get a company registered in the UAE, after obtaining a commercial license and required approvals.

A resident partner is only required when the company is a branch company or a resident company in the UAE

In the UAE, the corporate tax return is 0% annually.

Yes, Companies annually file tax returns at a rate of 0%.

Yes, there is no particular restriction about the company to not operate in international business. UAE provides direct access to the Gulf states and the Middle East. UAE also has a bilateral trade agreement with more than 43 countries across the globe.

Following steps are followed accordingly to set up a business in the UAE:

• Decide a category of business (professional, trading, industrial, etc)
• Get a registered business name
• Submit the registration application to the department of economic development and purpose of a name.
• Notarize memorandum of association
• Contact the department of Dubai municipal for leasing premises
• File necessary documents to the department of economic development and get a trade license
• Create a name board
• Get the establishment card from the ministry of labor
• Get register your labors

In the UAE, minimum capital to open an LLC company is AED 300,000 approximately. (amount can be varied according to legal charges provisions)

After getting a trade license to start a company in the UAE, you will complete immigration formalities and get a resident visa by the authorities.

Yes, after getting a resident visa of UAE, travel in other emirates is unrestricted.

Yes, The UAE and particularly Dubai is the most secure country across the world. It also has a variety of investment opportunities and a well-developed infrastructure.

No, it is not compulsory to have a local sponsor. Registration of a company in the Ras Al Khaimah free zone can be 100% foreign-owned.

To register a company in the free zone of Ras Al Khaimah following documents are required including:

• Shareholder passport copies
• Incorporation form
• Company description
• Memorandum of association
• Bank deposit of minimum share capital of USD 30,000

At Ras Al Khaimah free zone we can establish:

• A free zone establishment
• Free zone Company
• Branch company
• Foreign company branch

Following advantages, a business can get to set up a new business in the RAK free zone including:

• 100% tax-free
• 100% foreign ownership
• 100% profit and capital repatriation
• 0% corporate tax
• Office rental space

A trade license is required by authorities before starting any business in the Ras Al Khaimah free zone. Department of economic development issues trading license.

It depends on the type of company. For an offshore company, a virtual office is also acceptable.

One of the most attractive parts of getting the UAE resident visa is its development.

• Their liberal trade policies
• Freely travel to other Emirates
• Allow foreigners to live, invest and work
• Tax exemptions

No, UAE is a multilingual country and people of different ethnicity live and work there. English is a widely spoken language in the UAE. A language barrier can not deprive you to start a business in the UAE.