How Business consultants in Dubai may help you?

In reality, both local and foreign investors have taken advantage of a business consultant’s expertise and knowledge about the UAE market scenario to operate their business through incorporation of an offshore company. This way the investors and entrepreneurs benefit with a problem free investment and funding .Since it is likely that you may not know about the local market and rules and regulations, you might want an expert to help you go about with the whole process. These specialized business consultants have the knowledge on how the market operates, the local economy, process and procedures for a business set up and the documentation involved. If you hire one of those business consultants you can save a lot of time. This article is to introduce you to the business consultants in Dubai and how they assist you with your offshore business formation.

Their services include

Market analysis and research: To find the suitable market for your products and services. Also find suitable shareholders, partners if you are looking for joint venture company incorporation.

Categorizing your requirements: This step is to build a corporate structure for your business according to the UAE trade laws, so that you may not face any difficulty in legal incorporation or finance. They also suggest you whether to start up an operation in UAE or in any of the free zones as per your requirements and mode of business.

Company Registration: Business consultants take care of all the company registration forms such as form filling, filing and getting them sealed and signed by the authorities concerned.

Financial assistance: The consultants can help you with a suitable funding or investment options .It could be a bank loan or joint partnership suitable to your financial needs.

Set up assistance: Apart from all the above mentioned services they also assist you with the office set up such as office premises lease, phone lines, company website development, marketing plans, personnel visas, accommodation, opening offshore bank accounts and many more.

It will be a wise decision to hire an experienced business consultant in Dubai if you are planning to set up an offshore company as it will save your time and costs. These businesses usually require a fee for incorporation that can be anywhere around USD 5000.After the payment the offshore company becomes liable for the Dubai government‘s annual renewal costs currently in the bracket of USD 2500.  There are many documents that have to be submitted for incorporation procedure to take place. These documents include power of attorney for any intermediary, in this case a registered and authorized business consultant to act on the company owner’s behalf, registration forms, bank references, CVs of the appointed directors and passport copies, visa documents and photographs. An experienced business consultant in Dubai can carry out these incorporation procedures with ease.

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Offshore Companies in UAE

Dubai is one of the most popular locations for the incorporation of offshore companies dubai thanks to the ‘tax free’ policies of the emirates.

This jurisdiction is popular because, Dubai has not signed any exchange of information agreements thereby assuring high levels of security, privacy and asset protection. Any offshore company can enjoy all these benefits if it is properly incorporated anywhere in the UAE or specifically in Dubai.

Apart from banks and oil companies operating out of Dubai, all other companies are exempted paying corporate income taxes and are allowed to import many goods without tax .They also enjoy the benefit of paying only the average import duties on all other goods which has been standardized at just 4%.  This makes the incorporation of a company in Dubai an ideal option for tax saving.

Further, there are no exchange of information programs in existence between Dubai and any other nation. Therefore no taxation gain can be derived from such action, and anyone who wishes to maintain high levels of personal and professional privacy can utilize this facility by incorporating an offshore company .Incorporating an offshore company requires opening a bank account in Dubai to handle the transaction needs.

An offshore company in UAE can be very beneficial as you can own assets privately via the company structure, including property in Dubai. You can also legally avoid having to pay certain types of taxation on profits and income.

In addition to these aspects such as benefits and advantages of incorporating an offshore company in Dubai or anywhere in UAE for that matter, an interested party may like to take into account that there is no necessity of maintaining a public record of a company’s directors or shareholders in Dubai .Since there is not taxation department, personal and business activities of the company’s key investors, shareholders and personnel remain private in UAE.

Those who wish to incorporate and then operate an offshore bank account in Dubai may do so and they will benefit from the highly refined banking systems in the UAE. Additionally, Dubai’s legislation protects the privacy of investors and account holders.

In conclusion, if you are planning to establish an offshore company in UAE or Dubai there are, a number of business consultants in Dubai who can carry out all the necessary steps towards incorporation of a company anywhere in the UAE .By hiring one of those business consultants, you can avoid having to actually travel to the emirate to set up the company. 

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Joint Venture Company formation in Dubai

According to the article 56 of the UAE Federal Law No 8, Joint venture is a way of company formation UAE that includes two or more partners for carrying out a single or multiple businesses by one of the partners in his own personal name. A joint venture is a contractual agreement between a foreign party and a local party licensed to operate in the desired commercial activity. The local equity participation in the joint venture must be at least 51 percent, but the profit and loss distribution can be prescribed.

There is no requirement for a license of the joint venture or publish the agreement. The foreign partner deals with third parties under the name of the local partner who partially owns the joint venture. He also bears all liability. In practice, joint ventures are seen as offering a suitable structure and environment for companies that work together on specific projects.

A joint venture is an effective way to broaden your customer base for an affordable investment. Joint venture allows two or more companies to benefit from one another, in terms of customers, sales and profits.

Despite the popularity of JV partnerships, many business owners are still unsure of what a joint venture partnership looks like. This article will discuss about the JV partnership in detail.

Choose the right partner for your joint venture

Related Companies come together and form joint ventures if they offer related but different products or services. It is very important to find a company that caters similar customer base so that you can build your product together without competing with each other. Consider the industry you are in, and then find other opportunities within the industry that offer products or services that are totally vary from the ones you offer. Such a company will be ideal for a joint venture.


An agreement based on contract

Once you have decided upon a JV partner to work with, it is important to design a contractual agreement that will unite both companies to the terms and conditions of the partnership. Make sure the terms are clearly mentioned and defined, including the duration of time that the partnership will remain in existence. It should also elaborate on the sharing of the profits. Both parties should sign the agreement and save a copy for their records.

Goal of the JV

JV partners usually share a common goal for their partnership that involves tapping of customers to promote sales. The goals of the partnership should be the same and each party should have a thorough knowledge and understanding of how their individual activities and plans contribute to the goal of the partnership.

Shared Profits and common Management
In most cases, a joint venture will assure shared profits and individual control over the partnership. To reach this decision of sharing, it is important to have accurate accounting practices in the JV Company to account for the profits achieved through the joint venture. The contract should also state the responsibilities of each partner in managing the partnership company. Usually these responsibilities are shared equally among both the parties. With a common goal, it is much easier to track the success of the partnership through the shared profits and losses and accounts.

A joint venture can have many beneficial aspects based on what the partners want to achieve. However, most JV's will consist of these common components if they are to be fair and successful for all businesses and partners involved. If you are planning for an offshore joint venture you may need an experienced consultant’s help whether it is to chose your JV partner, or set up a JV company or the accounts maintenance and auditing. UAE is one of the most popular destinations for joint venture companies and especially Dubai has a lot of facilities that make it suitable for Joint venture company formation. There are many professional business consultants who can help you with the whole process of joint venture company formation in Dubai.

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Article source:
http://goarticles.com/article/Joint-Venture-Company-formation-in-Dubai/4179624/

Offshore Banking in Dubai

Dubai is one of the ideal places to set up a business or to look for individual business opportunities. If you are planning either of these, then you may have to open a bank account in Dubai for your transaction needs. Unlike most other countries, it is a simple procedure in Dubai. All you need are a few documents and proofs.

Operating an offshore bank account is simply carrying out your banking activities in a location other than the one in which you live. Individual and corporate account holders may have different reasons for opening an offshore bank account .Most general and popular reasons being tax saving requirements and multi currency loan requirements.

Another common reason for operating and offshore bank account is the flexibility that accompanies such an account and expatriates can benefit in a huge way from an offshore bank account as allows them to manage their international financial commitments easily. The latest free zone, Dubai International Financial Centre (DIFC) is flexible and unlimited offshore banking will become much easier.

Many large banks have offices in Dubai .All the banking activities in Dubai are regulated by UAE Central Bank and they impose many restrictions on foreign banks. Some of the restrictions are

a) Foreign banks are not allowed to have more than 8 branches

b) Any commercial bank operating in Dubai must have capital available of at least Dh 40 million. .

As the DIFC free trade zone will be governed by an independent regulatory authority, it assures financial sector organizations, more legal independence and fewer trade restrictions will be implemented on banking and financial institutions. Many financial institutions are to be granted licenses to trade within the zone and the DIFC will attract many companies in the financial sectors worldwide to promote offshore banking.

The offshore banking facilities in Dubai free zones have comprehensive laws to ensure transparency and to avoid money laundering .The laws also cover international economy compliance factors .The free trade zone is basically being designed to allow financial institutions to work and grow without limitations and restrictions such as taxation burdens, reporting requirements and stringent laws and rules.  The offshore banking sector in Dubai has already seen a growth in bank deposits following the introduction of the EU Savings Tax Directive. Many of the more traditional offshore centers do not offer many incentives to the banking sector as much as in Dubai .So it is becoming one of the most popular destinations for offshore banking.

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Article source:
 http://goarticles.com/article/Offshore-Companies-in-UAE/4179632/

Chartered Accountants in Dubai

Today, the services of auditors are required all around the world to run a safe business. Internal audits are a mandatory integral part of a business. Internal audits have to perform a self evaluation procedure as in how an organization works, its processes and the risk involved that may affect the business. Dubai based Chartered accountants who specialize in auditing have worked across various industries and have a vast knowledge of all the business functions. They possess a comprehensive and complete overview of the organization they work with.

Here are few basic functions that are performed by Chartered Accountants in Dubai

1. Dealing the Risk Factor

In every organization there is always a possibility for undesirable outcomes and situations. The Chartered Accountants are well aware of their responsibility to help organizations in becoming proactive and identify the risk. With their vast research capabilities and knowledge of the market and the company scenario they can understand and analyze the trends and find solutions for the risks. By using their extensive experience and ability to evaluate the situations they can predict the risks that may affect the business and opportunities that can benefit business easily. By hiring a chartered accountant in Dubai, you can be free of the difficulties you face in maintaining the records and accounts of your business and streamlining the auditing process for the authorities you are answerable to.

2. Reports and document Submissions

 Accountants maintain records and reports that deal with the company operations. They help you make the best decisions in view of the company’s benefit, thereby ensuring a positive out come of any business venture. They prepare themselves with the complete knowledge about the company and its operations and dealings so that they are able to identify the limitations and focus on scope for improvement. They put to use their findings and the proven methods to make the business grow better.

3. Identifying malpractice and fraud

Being free of malpractice and fraud is very important for a business and especially for and offshore company. It is common practice for the companies to trust their employees completely. Professional accountants and related agencies can also investigate employee behavior and discover malpractices .So it is safe to seek the assistance of a chartered accountant in this regard. If an employee is disloyal, they can prove harmful for the company. Auditors make sure that such employees are detected and dismissed before they cause further damage to the business and reputation.

4. Risk Analysis and Crisis Planning

Additional to identifying the risks, Chartered accountants also help with planning for an emergency and solutions to resolve the situation. For instance they can suggest you a low cost process instead of a tedious and expensive one to overcome increasing costs in a manufacturing company. They can help you device the best possible ways to cut costs and increase production economically. They may also help you in marketing and maintaining the production – sales balance.

For business hubs such as Dubai, it is indeed a best option to seek the assistance of a professional Chartered Accountant to improve your business and flourish.

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Setting up a business at Free Trade Zone in Dubai

What is a free zone?

Free zone is a segment of well defined and separated setting and infrastructure, with special tax schemes, customs and imports regime, usually beneficial for foreign investors to expand their business by setting up operation centers in these zones.

The primary reason for establishing free zones in the UAE was to serve as a central business hub for companies that intend to establish business for overseas operations and not specifically in the UAE. Companies in the UAE free zones are allowed to operate among the free zone companies for their worldwide operations and are not licensed to operate in the rest of the UAE.

Advantages of a Free Zone

• No taxes on personal gain or capital gains in the UAE
• 100% foreign ownership of the business
• No corporate taxes for a considerable period
• Complete repatriation of capital and profits
• Modern infrastructure and facilities
• No currency restrictions
• Excellent support and consultant services

Facilities available in the free zone

• Land and office premises available on lease for investor development
• Readily built warehouse , factory units and office premises for lease
• Executive office suites
• On-site accommodation for  personnel of the investor
• Transportation links by air, by sea and by road
• Abundant energy at low costs
• Low cost of living and High Standards

How to set up a business in a Dubai free zone?

Each free zone has its own set of laws. You can set up a business in the following ways.

• Branch of a foreign company that is outside of the UAE or a branch of an offshore company
• Free Zone Establishment/Company .FZE or FZC are limited liability companies owned by an individual or a corporate. Free Zone Establishment has only one shareholder. Free Zone Company can have 2 to 5 shareholders. Free Zone Limited Liability Company is an independent company incorporated by an individual and all the shareholders are natural persons. Free Zone Limited Liability Company Corporate (FZ LLC) is a company incorporated by another corporate and the shareholder of the FZC is a company.

Limitations in a free zone

You may have many factors to consider before deciding on a free zone that is appropriate for a new business set up. These factors include location, infrastructure and facilities, licensing process of the proposed commercial activity, and the popularity of a particular free zone.

Dubai has two major Free Zones; Jebel Ali Free Zone and Dubai Airport Free Zone where import, export, manufacturing, processing, assembling, packaging, distribution, consolidation, storage and logistics are the primary functions. Dubai Healthcare City serves as a center for healthcare-related operations, Dubai Media City specializes in broadcasting, advertising, and public relations; Dubai Internet City is dedicated for web-based services, IT support, and software development.

Experienced consultants provide consulting and suggestions on the right choice of a free zone that is suitable for your business activities and take on the full responsibility to complete processes involved in establishing your company in Dubai or any where in the UAE.

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Article source:
http://goarticles.com/article/Setting-up-a-business-at-Free-Trade-Zone-in-Dubai/4179354/

Free Trade Zones Dubai

UAE has one of the highest per capita incomes in the Middle East, thereby attracting many investors in this region. UAE is generally being associated with oil and natural resources. But there are many more business opportunities there. The governing bodies of the emirates that form the UAE develop world class infrastructure and foreign investment policies and schemes that make locations such as Dubai most popular business hubs in the world.

A free zone is a portion of defined and specific infrastructure, with a special tax rules, customs and imports regime, usually meant for foreign investors who do not belong to the UAE business region and scenario. Free Zones provide the required infrastructure and incentives to the investors who wish to set up a business in the free zone.

There are many free zones that have been developed in the UAE. Some of them being Dubai Airport Free Zone, Hamriyah Free Zone, Dubai Internet City and Jebel Ali Free Zone. Some of the benefits of incorporating a business in UAE are

·         100 % foreign ownership

·         Exceptional infrastructure

·         Facilities such as warehouses, industrial parks and office premises

·         Repatriation of capital & profits and no corporate taxes

Thus these Free Zones comprise of modern business models that provide access to the technology and infrastructure to a present day business that has to be competitive to stay in the race.
The major free trade zones in Dubai are

• Dubai Airport Free Zone (DAFZ)
• Dubai Car and Automotive City Free Zone (DUCAMZ)
• Dubai Flower Center Free Zone
• Dubai Gold and Diamond Park
• Dubai Health Care City (DHCC)
• Dubai Industrial City (DIC)
• Dubai International Financial Centre (DIFC)
• Dubai Internet City (DIC)
• Dubai Knowledge Village (KV) (DKV)
• Dubai Media City
• Dubai Multi Commodities Centre (DMCC)
• Dubai Gold and Commodities Exchange (DGCX) - part of DMCC
• Dubai Silicon Oasis
• Dubai Technology and Media Free Zone (TECOM) - includes DIC, DMC, DKV
• Economic Zones World (EZW) - includes Techno Park, Dubai Auto Zone, International, JAFZ
• Jebel Ali Free Zone (JAFZ)

Jebel Ali Free Zone, the first free zone in the UAE, was established in 1985 to coincide with the inauguration of Jebel Ali Port, the world's largest man-made harbor. It is strategically located between the Jebel Ali Port, and the Jebel Ali Airport, both known for their large capacity for freight transfer. This free zone has grown to a huge micro-economy that houses 6000 companies, 150 of which have been listed among the Fortune Global 500.

The Dubai Airport Free Zone is also an ideal choice for international branch offices and entrepreneurs. This has been built with a state-of-the-art technology and infrastructure, such as optical Fiber Optic networking. It also has access to a large number of consumers; most of them being from different parts of the world .It is predicted that 60 million commuters might pass through Dubai International Airport by the next year.

Both of these zones offer a wide range of amenities such as superior quality offices, storage and warehouses with the capability to be converted into an assembly factory. They also offer assistance to the entrepreneurs to design their business models, to find suitable business partners within the free zone, and consultation support.
All of these zones offer tax exemption for entrepreneurs and investors who wish to incorporate offshore business incorporation.

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Article source:
http://goarticles.com/article/Free-Trade-Zones-Dubai/4179218/