OnTime Business Setup, through its partnership with the Department of Economic Development, and several Free Zone Authorities within the UAE, can closely assist you through the process of forming your business. With nearly two decades of our experience and expertise, entrepreneurs seeking to establish a company in the UAE can expect a smooth and efficient end – to – end process of Business Setup.
Main Land Company Formation
- All licenses for businesses registered in the mainland must be submitted, processed, accepted and issued by the Department of Economic Development.
In addition, there are certain licenses that may require permissions and acceptance from various other government-based institutions.
The Process Simplified
Trade Name Reservation > Initial Approval > Drafting and Signing MOA > Confirmation of Office Lease > License issuance
Category of license
Within the Department of Economic Development there are three main Categories of licenses:
- Commercial Licenses
- Professional Licenses
- Industrial Licenses
- Each Category of license includes activity groups, and subsequently, each group contains several individual activities.
- Identifying the activities and legal structure of your company is crucial as rules and regulations with the UAE prohibit any business from offering a product or service unless stipulated on the license.
- Our group of Consultants, in a professional, friendly and solid manner, assist you by identifying what activities are best suited to cover the scope of work intended by your business. We provide you with appropriate and specific information related to your activities and closely assist you at every step that follows.
Free Zone Company Formation
Free Zones or Free Trade Zones are designated areas designed to promote International Business by allowing 100% ownership to expatriates.
As such, Free Zone Authorities are responsible for accepting, processing and issuing business licenses applied for within their own respective Free Zone.
There are several incentives and limitations for businesses registered through Free Zones. To identify which incentives or limitations would relate to a business, our team of professional consultants has the ability to assist by understanding the nature and operational intentions of the proposed business.
Some principal incentives for establishing a Free Zone Company are as follows:
- 100% foreign company ownership
- 100% Repatriation of Funds
- 100% Corporate, personal income tax exemption
- Exemption from all import and export duties
- Inexpensive workforce and easy recruitment procedures
- One-stop-shop administration services
As Free Zones are connected to ports or industry-specific, you will require guidance on which Free Zone is best suited to your Business model. Our Consultants, having worked with all major Free Zones within UAE, will assist by guiding you based on your requirements. We closely assist you throughout the process of licensing your company and are always available to assist with all after licensing requirements you may have.