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pen a company in Dubai
Key steps to set up a Branch or Representative Office in UAE
Russian lawyers in Dubai
Please speak with one of the Russian lawyers. They will advise the correct legal structure based on the activities a business intends to undertake in the UAE and its intended markets. A client may further choose to obtain a legal opinion to confirm a Russian lawyer’s advice.
Appoint a National Service Agent (NSA), either a UAE national or a company wholly owned by UAE nationals. Russian lawyers Corporate Services has created several 100% UAE-owned LLCs that it fully manages and controls through the power of attorneys and other legal agreements. These companies can act as the NSA.
The required documentation for registration and approval will include:
List of documents required for opening of LLC company in Russia:
All documents are required to be notarized and attested in both the applicant’s home country and at the relevant UAE consulate. Who should commence the notarization process as early as possible because it can take a significant time?
All documents must also be translated into Arabic by an official translator before they can be presented to the authorities in the UAE.
All requested documents must be submitted to Russian lawyers, managing the application process from start to finish. The licensing authority will be the Department of Economic Development, with the approval of the Ministry of Economy.
Foregin companies ownership in UAE
Foreign companies can retain 100% foreign ownership in the UAE;
The foreign company is not required to show more than two years of incorporation and business experience in its home country (some Free Zones require longer);
The company may legally conduct the approved activity in its license anywhere in the UAE, including Free Zones;
No restrictions on the location where the company can rent/buy office premises;
The government has permanently waived any paid-up capital requirements.
Like the NSA, Russian lawyers have multiple signatories unrestricted all year round, unlike individual regional partners who frequently travel in the summer months.
Branch is restricted in next activities
A Branch is restricted in respect of its business activities, especially to trading in the UAE mainland. Suppose the parent company conducts any trading training. In that case, it can only incorporate an RO for marketing or promoting its products and services or to facilitate commercial agreements between the parent and its customers. However, most service activities can be conducted through a branch.
Longer time to establish than a Free Zone company, typically 8 to 10 weeks;
External approvals are often required from UAE government ministries and a bank guarantee of AED 50,000 (approx. US$15,000) will be required by the Ministry of Economy.
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