As the company with years and years of experience on the UAE corporate services market, we have put together the 10 most common questions which shall be answered when you decide to register / open a company in the UAE
- Why I need the company? What we mean is that you need to clearly identify the purpose of the company. As there are various company types in the UAE it is rather important to decide on the main purpose you have. For example, you need a company for your trading operations abroad, for some services in the UAE or just for visa purposes. For these 3 cases, the solutions can be quite different in terms of company type, license, costs and time to register.
- What I expect from the company? This is another common question to be answered. What you need is to decide what sort of additional features / expectations the company shall meet. For example, you need a company for foreign training operations with no office in the UAE, but expect to open such office in the UAE with personnel later. Such elements shall be built-in into the company structure preferably right at the beginning.
- What are the bank requirements to be met? This is the very critical point to answer. The choice of the banking solution is very critical for further business operation. Thus you need to outline what main expectations you have and how such expectations can be synced with the available services of the banks in the UAE.
- What type of company I need? This question is directly linked with points one and two in the present review. The type of corporate entity you need is directly linked with the activity you plan to execute over the company and the additional features it shall have.
- How many visas I need – if any? The next top question which is if the true priority: Do you need now or may need later a residency visa in the UAE for you, your family or your employees. This defines the company type as there is a type of a company which does not provide the option for residence visa, and there is another type which offers such option. Whereby these two company types cannot be converted from one to the other thus the right type is to be chosen right at the beginning.
- Which Emirate to choose? As you are aware there are 7 emirates in the UAE. And each one has its free zones. Thus the logical question arises – which emirates to choose. The key to the right answer to this question is putting together: company activity + requirements on company location + requirements on facilities + costs. Each emirate has some certain specifics and particulars. Putting the clear points on the elements above gives the option of identifying a couple of options and deciding which one is preferable for you.
- How many times do I need to visit UAE to get my company ready? The answer to this question depends on a number of factors. First, it depends on the type of the company you choose. Some may require just one visit, some – may require 2 or more visits. Second element is the bank account and residency visa. If you need one or both options – you would need to come for it 2 to 3 times for each main issue. So in total, if you do it yourself, you may need to come 3 to 5 times, or maybe even more. If you do it over a consulting company – such company does most of the points on your behalf thus you need to come to UAE one time for company and account, and if you need residency visa – an additional visit is required. Thus you would need to come maximum 2 times.
- How shall I register – myself or over consultant? The answer to this point is simple – you want to save some consulting fee and are ok to spend more time in the UAE and come to UAE a number of times - make it yourself. You want to save your time, energy and travel costs – make it over a consulting company.
- What I shall be aware of? The answer to this question is simple – jut make sure you choose the right company type and have all the info on it. UAE is the very stable and secure country with good regulatory environment. Thus, when you know what you need, you are totally safe.
- Which risks I may have? From the risks which we are aware the risks are typically associated with non-professional solutions offered to clients. In our praxis, we faced, for example, the cases when people got their “investor” visas over the companies which do not belong to them, and then such companies were closed, and people with such visas got into certain difficulties in the UAE. There were other cases which were resulted by non-reliable service providers. Thus, to answer to the last of our top 10 questions - if you do your company registration over a trusted company – there are no risks of whatever nature.
