These offices do not have a separate legal identity but are treated as an extension of the foreign company, which remains liable for their activities. Such a branch could apply for any DFSA licence category and the DFSA would waive the prudential requirements for that foreign company, if it were subject to the financial regulations of the home jurisdiction.
Last stop is at the Dubai Chamber of Commerce and Industry, where the branch office is registered. Also, certain fees have to be paid prior to the issuance of a license. If you would like to avoid this lengthy process or running around from one commercial authority to another, call Shuraa Business Setup and we will take care of the rest.
Mentioned below are some of the documents needed while submitting application to the Ministry of Economy.
Get a free quote by filling your details in the form on the right and know how to establish your branch office in UAE UAE business setup: Foreign companies also find it increasingly difficult to deal with the local authorities.
As discussed, setting up a business or buying a going concern can be complex and you must obtain local legal advice and guidance about registration formalities. March 26th, by Ramapati Singhania Ramapati Singhania He strives for excellence in all he does and brings out the best in his people through guidance, a strong vision and support.
Application process The DFSA has recently clarified that each applicant should undertake the following pre-application steps: The foreign company which opens a branch office in the UAE is permitted to do the activities of its parent company, whereas the representative company can perform marketing activities for the products and services of its parent company.
You will be contacted immediately. Providing Trust services If yes, please share it with your friends using one of the social media buttons or chat with us. While, UAE provide various benefits of setting up a companythere are also several perks for branches of foreign companies. He is exceptionally open-minded, flexible, dependable, understanding and straightforward in all words and actions and encourages personal as well as professional growth.
Footnotes Introduction A popular way for foreign companies to retain per cent foreign ownership in the United Arab Emirates UAE is to open a branch or representative office.
It is licensed for the purposes set out in its commercial licence but may only engage in activities similar to those carried on by the foreign company in its home jurisdiction.
If there are gaps, Arabs are brilliant at finding and exploiting them. Additionally, rental costs in the Free Zone are most likely to be higher than regular rental prices within the city.
Memorandum and Articles of Association. This requires similar items to those submitted to the MOE; in addition, the applicant will need to include the proposed office address in the UAE. An experienced lawyer will guide you through the registration complexities and his help will be vital in protecting your interests.
However, if your business requires to be near the city, it will probably go bankrupt quickly in the Free Zone as it is a far away place. As mentioned above, to setup branch office in UAE, a local service agent is important and one of the important prerequisites. Dealing in investments as principal 5.
Our expert team will narrow down this entity, a person who is as dedicated to his work as we are for branch company formation in Dubai. Thus, the Ministry of Economic and Commerce will send the application to the local government for consent.
Most of the international companies have their representative office in UAE, we help our clients from across the world to complete the procedures related to start a branch or representative offices in UAE.
Ministry of Economic and Commerce. Power of Attorney issued in favor of the company-appointed General Manager. The experience of doing business with them is likely to be pleasant and friendly, and the trust built up on both sides will be long-lasting.
The fee payable for the commercial licence may also vary, depending on the activities to be undertaken in the UAE.
You need to first understand clearly what you can do or what you cannot do as a company that has set up its representative office in Dubai. This application needs to be accompanied by: When you setup a representative office in Dubai, you will be able to enjoy real presence in Dubai though you will not be able to sell anything directly.
If you would like to start a branch office in in Dubai, UAE — here is what you need to do: The notarisation process should be commenced as early as possible as it can take a significant amount of time.
Even those with professional qualifications and experience as good as those of a westerner are unlikely to enjoy similar benefits, as the remuneration of foreign workers is related to what they would expect to earn in their home countries, which is invariably higher for westerners.
If you plan on bringing on more foreigners onto the project, you need to work closely with your local partner in order for them to sponsor your employment visas. Setting up a representative office in Dubai or in UAE comes with its own set of complications.
The MOE will then issue their own initial approval, at which point the following additional documents must be submitted in hard copy to the MOE: Nevertheless, in the vast majority of cases, Arab businessmen meet their obligations fully.The difference between Branch & representative office is that the foreign company which opens a branch in the UAE may conduct freely the same activities for which it is licensed whereas a representative office may exercise only promotional business for the products and services provided by the parent company.
Branch /Representative Office Of Foreign Companies Branch /Representative Office Of Foreign Companies UAE Commercial Company Law (13) of allows foreign companies and corporations to open Branch/Representative office to exercise their main activities in UAE.
STARTING A BUSINESS IN DUBAI Dubai Business Guide Operations Business Support Department Dubai Chamber of Commerce and Industry.
Published by: Dubai Chamber of Commerce and Industry Business Support Department P.O. Box High quality office and residential accommodations.
Islami Bank Bangladesh has recently sought regulatory approval to set up a representative office in Dubai to facilitate trade and remittance earnings from the Middle East. This is a first for the. The final step is for the branch or representative office to register as a member with the Abu Dhabi Chamber of Commerce and Industry or the Dubai Chamber of Commerce and Industry, as appropriate.
The procedure is largely the same. Bare in mind, your Trade Representative Office cannot export, import or sell in the UAE. A Trade Representative Office may practice only promotional business for the products and services provided by the parent company.Download