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Business Laws & Regulations in Dubai, UAE .pdf


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Business Laws & Regulations in Dubai, UAE
With its stellar growth, Dubai has been known for alluring every business
opportunists due its efficient licensing rules, infrastructure, and ease of work. In a
survey “the World Bank's Ease of Doing Business Survey for 2014,” the Emirate has
been indicated as the easiest places to do business. If you're an expat and looking to
begin a new business, you need to be informed about the business law and
regulations. If you aren't aware, you can seek the help of lawyers and legal
consultant in Dubai. We have some of the crucial and fundamental rules of business
laws in Dubai:

If you're an expatriate and have been think of opening a limited liability in the
Emirate, the law states that around 2 or 50 persons. A limited company has the
freedom to get involved in any lawful activity, which should not include insurance,
banking or investment. For Approval and License, one needs to approve The
Economic Department and the business can be registered with Dubai Chamber of
Commerce and Industry. The commercial name chosen should be approved by the
Licensing Department of the Economic Department.
When it comes to the formation of a joint venture between foreign and a local party
in Dubai, the law stipulates that the local party should own 51% equity. It is all right
if official contract documents do not exist between the parties. Joint venture is
beneficial if you have a specific project or technology. For a strategic partnership,
lawyers in Dubai can advise on structuring, drafting and negotiating.
Under the UAE Commercial Company Law (13) of 1988, foreign companies are not
allowed to undertake any financial obligations. The representative office should be
registered with the UAE Ministry of the Economy, then with the Dubai Department
of Economic Development. The business law also mandates the office to engage with
UAE National Local Service Agent, either an individual or a UAE National-owned
company.
The branch can be 100% owned by the foreign company, but it is mandatory for the
company to appoint a local agent, which should be UAE nationals or companies

owned by UAE nationals. The branch or representative offices are prohibited from
engaging in any kind of import activity.
For opening a branch office in free zone, it is required for companies to get license
approval from Ministry of Commerce and Economy where in they also note down the
activity to be practiced by the authorized brand or office.
In case of establishing sole proprietorship company by a foreign company. The
foreign company has a 100% ownership. A local service agent is elected who should
be UAE national. The agent is not associated with the company's business, but he is a
part of the amount from the turnover of the enterprise.
Foreign firms can establish a permanent presence in the UAE by launching a limited
liability company or a sole proprietorship or set up a branch office in a UAE Free
Trade Zone. There are many benefits of opening a branch office in FTZ:







No personal income taxes
Corporate tax exemption for 15 years, which can be renewed
100% tax exemptions for import and export
100% repatriation of capital and profits
support for sponsorship and housing
support for employee appointment

It is true that Dubai has earned the reputation for enabling foreign companies to do
business with ease, but it is necessary to get familiar with business laws for achieving
success.


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