Mainland Company Formation in Dubai
Company Formation in Mainland Dubai is required to have a local emirate national know as a sponsor or service agent by law. Emirate national as a local sponsor is required for mainland company formation as an Industrial organization or commercial trading company while service agent is required by law for service provider organizations. As per law, 51% of Mainland Company arrangement shares are saved for local Emarati national as a sponsor, and staying 49% is for an expat who is willing to open the company. However local sponsor will give you the full authority of administrative decisions and will not interfere in the company’s decision regarding business and other matters. The Department of Economic Development (DED) is the administrative power for Mainland organizations and in charge of issuing all licenses identified with mainland company formation. DED has dedicated one window operation for mainland company formation related arrangements.
The basic categories for all business-related activity in United Arab Emirate Mainland are as following:
- Commercial licenses: The commercial license in Mainland covers all kinds of trading activities
- Professional licenses: Professional license in Mainland covers all professional services provider activities, craftsmen and artisans, etc.
- Industrial licenses: An industrial license in Mainland covers all types of establishments involved in industrial or manufacturing business activities.
All the above types of licenses are issued by the Department of Economic Development (DED). However, in some cases, licenses for some specific categories of business activities require approval from certain ministries and other governing authorities. A few of the examples are:
- Banks and financial institutions: Banks and financial institutions required to have approval from the Central Bank of the UAE to start business activities
- Insurance companies and related organizations: Insurance companies and related organizations are required to have approval from the Ministry of Economy and Commerce of UAE to start their activities in the Mainland.
- Manufacturing: Companies which are involved in manufacturing business are required to have permission from the Ministry of Finance and Industry of UAE to start production in the Mainland.
- Pharmaceutical and medical products: Companies involved in Pharmaceutical and medical products are required to have permission from the Ministry of Health to start their business in the Mainland of UAE.
Mainland Company Formation benefits:
- Simple and easy registration process of your mainland company
- Mainland company formation offers the benefit of doing business activity in any part of the UAE.
- Easy steps of getting visas to setup a Mainland company
- There are no limitations in office space requisite
- Hassle-free recruiting process for Mainland company setup
- Mainland company setup has no yearly auditing obligations
- Mainland company setup has corporate tax optimization
- Benefit of renting an office at your desire location
- Employment visas are easily available for Mainland companies
Documentation for Mainland Company Formation
The following documents are required to start a mainland company in UAE:
For corporate shareholders following are the necessities:
- Shareholders list of the company in Arabic
- Copy of the Certificate of Incorporation of the company and the Memorandum and Articles of Association (MOA) attested from the UAE Embassy.
- No objection certificate (NOC) from the authority if the company is a shareholder in proposed Limited Liability Company (LLC)
- Resolution of Board for starting the company with Power of Attorney (POA) Notarized and legalized from the UAE Embassy.
For individual shareholders following are the necessities:
- Passport copies of the foreign directors, shareholders, and managers alongside the visa page and stamp at the time of their entry in the United Arab Emirates.
- If shareholder or manager of Mainland Company is on employment visa of any company in UAE, a No objection certificate (NOC) is also required from that company
- A Valid and clear copy of passport and the National ID card copy of the Emirati National Partner/sponsor
Companies or individuals may be asked for additional documents by authorities and regulating bodies, such as:
- Certified as true copies by the Notary Public of the country of origin in the country of origin
- Legalized by the Embassy of UAE in the country of origin
- Legalized by the Ministry of Foreign Affairs of UAE