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The UAE offers several efficient options to set up a company across the country through free zones and otherwise. But before making the leap, ascertain what type of business you are actually doing and what the requirements of the licensing authority are.
According to a guide published by the Abu Dhabi Chamber of Commerce and Industry (ACCI), the capital offers several types of licenses, namely: national proprietorship which is given to a company fully owned by a UAE national; commercial companies with 51% share held by a national; foreign company branches; Gulf establishments and companies; and appointment of commercial agent.
Dubai has also set in place rules and regulations that not only invite foreign investments but also encourage new ventures and SMEs. The emirate also offers many types of trade licenses, from LLC to free zone and professional.
An investor can opt for a Limited Liability License (LLC) directly from the Dubai Economic Department where 51% of shares is owned by a national. Each free zone, such as the Dubai Silicon Oasis (DSO) and Dubai Media City, has its own set of policies pertaining to licensing.
Catering to the different needs of investors, DSO offers operating licenses including service, trade and industrial. The entity also offers special entrepreneurial business licenses as well as business operation permits.
Other emirates provide cost-effective licensing options such as RAK Free Trade Zone (RAK FTZ) with its very popular flexi desk offering.
• In an LLC, 51% of shares is owned by a national
• Trade licenses also include free zone and professional
• RAK FTZ offers the very popular flexi desk option
Source: Sabin Muzaffar, Special to Classifieds
The writer is a freelancer