we concord IP specials in register all kind of license in Dubai and sharjah. Concord intellectual Property Rights management offers a range of top-notch services with respect to setting up a business in the Emirates. We understand that setting up a business in a foreign country is truly a hectic task and so, we look to assist our clients in taking accurate and optimal decisions. Whether the matter pertains to company formation, licensing, incorporation, visa, consultation or professional advice, we have always been the ones to step up.
How Concord intellectual Property Rights management can help start a new business in the UAE?
Concord intellectual Property Rights management, being one of the most notable business setup companies in the whole of UAE, offers a range of comprehensive services that cater to the means of setting up a company. They are specially designed in order to help entrepreneurs and investors get their business started at any place in the UAE without any kind of hassle whatsoever.
Here are some of the services that we can help you with:
Registration of the company – We work to get the registration of your business done. This includes the processing of relevant forms and then submitting them to the concerned authorities.
Application for trade license – Our specialists take the opportunity to apply for a trade license on your behalf. This gets a certain burden off your shoulders leaving you to do what is more important – running your business.
Incorporation – We take the headache of submitting all the necessary papers that pertain to the incorporation of your company in the Emirates. We also undertake the payment of the registration fees in this regard.
Several trade zones – We take great responsibility for our clientele and can help you start your business in any emirate of our choice. These are Dubai, Sharjah, Abu Dhabi, Fujairah, Ajman, RAK and UAQ.
Opening corporate bank accounts – A corporate bank account is a necessity for doing business and we are always ready to help in setting up one for you.
Renewal of Visa – When you need to renew the Visa of our employees, you can always bank on us to get it sorted out.
Clearing documents – Getting clearances can often turn out to be a big headache! In this regard, we help you by getting the necessary clearances from the relevant agencies in the UAE by submitting the required documents. This helps in the smooth running of your company.
Marketing and Advertising – We take it upon ourselves to assist you in utilizing the right advertising and marketing channels for brand recognition. This can largely improve your presence in the market and get your business up and running.
With Concord intellectual Property Rights management’s professional services to aid you in setting up your business in UAE, you can be assured of getting the best assistance available. To know more about how you we can help you in setting up a business, get in touch with us today!
LIMITED LIABILITY COMPANY (L.L.C)
A Limited Liability Company can be formed by a minimum of two and a maximum of fifty shareholders whose liability is limited to their shares in the company’s capital.
Under the Commercial Companies Law or CCL (Federal Law No. 8 of 1984 Concerning Commercial Companies as amended by Federal Law No 1 of 1984 and Federal Law No 13 of 1988, Federal Law No. 15 of 1998), foreign investors are permitted to hold up to 49 % equity ownership in UAE companies, whereas 51 % of the equity must be owned by UAE National(s). Such companies are recognised as offering a suitable structure for foreign individuals or organisations interested in developing a long term relationship with the local business community.
The Limited Liability Company or LLC is the most popular method of establishing a commercial company in the UAE, unless the business involves banking, insurance and investment activities conducted on behalf of third parties where a Public Joint Stock Company is required. Articles 218 to 255 of the CCL (inclusive) regulate the establishment of limited liability companies. While Article 227 of the Companies Law (which applies throughout the UAE) stipulates that the minimum share capital of the company is AED 150,000; the minimum share capital required by the Dubai authorities for the Limited Liability Company engaged in business activity other than general trading is currently Dirhams 300,000. For general trading activity, the minimum capital requirement is Dirhams 3,000,000. Individual shares should have a minimum face value of AED 1,000. The shares need to be “equal shares”.
An LLC may not conduct the business of insurance, banking or the investment of money on behalf of third parties.
Management of the LLC is vested in the ‘managers’ (up to five natural persons) who may or may not be UAE nationals.
Although the maximum foreign equity participation in a Limited Liability Company is 49%, profits can be distributed in different proportions as agreed by the promoters/shareholders of the company. With the approval of the UAE National Shareholder(s), the entire business operations of the company may be entrusted to the foreign shareholder(s). The foreign shareholder(s) can, therefore, claim a higher share of profit in case such shareholder(s) provides exclusive management and/or any special services or facilities to the company. As far as the protection of the minority shareholder(s) interest is concerned, this can be done by way of shareholders resolutions and certain related security documents.
Although the rules and regulations for establishing the Limited Liability Companies are generally similar in all the seven Emirates of UAE, the requirement of minimum capital and costs involved for registering the company may vary from one Emirate to the other.
LIMITED LIABILITY COMPANY (L.L.C)
In setting up a professional firm, 100% foreign ownership is generally permitted; however certain sectors and activities are restricted to either UAE nationals or have a UAE national shareholding requirement.
Professional firms may be in the form of a sole proprietorship or a civil company. Such firms may engage in professional or artisan activities but the number of persons that may be employed by such firms is limited. A UAE national must be appointed as local partner for sole proprietorship, but s/he has no direct involvement in the business and is paid a lump sum and/or percentage of profits or turnover. The role of the local partner is, among other things, to assist in obtaining licenses, visas and labour cards.
Where there are two or more partners, the legal structure is a Civil Works Company whereby there must be a UAE national shareholding of minimum 20%.There is a requirement that all the individuals involved have relevant University level qualifications in the relevant field of business.
Under Articles 313 to 316 (inclusive) of the CCL, foreign companies are permitted to establish wholly owned branch and representative offices in the UAE. This business structure reduces the need for national participation.
A branch office, legally regarded as part of its parent company, is a full-fledged business, permitted to perform contracts or conduct other activities as specified in its license. A branch office may only be engaged in activities similar to those of its parent company and it is not permitted to carry on the business of importing the products of its parent company, a function reserved for local trade agents.
A representative office, on the other hand, is limited to promoting its parent company’s activities, i.e. to gathering information and soliciting orders and projects to be performed by the company’s head office. Representative offices are also restricted as to the number of employees they can sponsor and as a result, representative offices tend to act as administrative and marketing centers for their foreign parent company’s head office.
Provided that approval is received from the Ministry of Economy and the DED, and the appropriate trade license is obtained, a company may establish a branch or representative office in the UAE. The office must be registered on the Registry of Foreign Companies at the Ministry of Economy before it commences trading.
A UAE national must be appointed as a ‘service agent’ for the branch or representative office. A service agent is not the same as a commercial agent. The former is not permitted to own equity in or participate in the substantive management of the representative or branch office. In practice, a foreign entity typically contracts with the service agent to provide specific services such as assisting in communications with government departments or undertaking other administrative matters. The fees paid to the service agent are a contractual matter between the service agent and the foreign company, frequently quantified by the turnover of the branch or representative office.
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