Company Formation   We at Nam Associates specialize in UAE business setup and allow you to explore the Middle East which is one of the fastest growing markets in the world.   Doing business in the UAE has a unique set of benefits, namely: 1 No corporate tax 2 No income tax 3 No capital gains tax 4 No property tax 5 No wealth tax 6 Low property transaction cost 7 Ease of access to home and corporate finance       Types of commercial entities possible in UAE Limited Liability Companies A limited liability company can be formed by a minimum of two and a maximum of 50 persons whose liability is limited to their shares in the company's capital. Most companies with expatriate partners have opted for this form of company. in Dubai or elsewhere in the UAE. While foreign equity in the company may not exceed 49%, profit and loss distribution can be mutually agreed. Responsibility for the management of a limited liability company can be vested in the foreign or national partners or a third party.   Professional Firms In setting up a professional firm, 100% foreign ownership, sole proprietorships or civil companies are permitted. Such firms may engage in professional or artisan activities. A UAE national must be appointed as local service agent, but he has no direct involvement in the business and is paid a lump sum and/or percentage of profits or turnover.   Branch Offices   The Commercial Companies Law also covers the formation and regulation of branches and representative offices of foreign companies in the UAE and stipulates that they may be 100% foreign owned, provided a local agent is appointed.   Only UAE nationals or companies 100% owned by UAE nationals may be appointed as local service agents. Local agents - also sometimes referred to as sponsors - are not involved in the operations of the company but assist in obtaining visas, labour cards, etc and are paid a lump sum and/or a percentage of profits or turnover. In general, branches and offices of foreign commercial companies are not licensed to engage in importing activity except for re-export or in the case of products of a highly technical nature.   Free Zone Companies & Establishments   Background The Free Trade Zones have been set up with the specific purpose of facilitating investment. The procedures for investing in the zones are relatively simple.   The companies operating in the Free Zones are treated as being offshore, or outside the UAE for legal purposes.   The free zones are suitable for companies intending to use UAE as a regional manufacturing or distribution base, with the bulk of their business outside the UAE.     • 100% foreign ownership; • Exemption from all import duties; • 100% repatriation of capital and profits; • Freedom from corporate taxation for 50 year; • Inexpensive energy; • Efficient recruitment procedures ensuring the availability of a skilled and experienced workforce; • A high level of administrative support.   Licenses Companies approved for operation in Free Trade Zones, can apply for one of the following types of licenses: Trading; Industrial; Service; or National Industrial. These licenses are renewable annually.   OFFSHORE COMPANY FORMATION Some of the principle uses for going offshore are: trading, investment, holding, financing, professional services or consultancy, personal and corporate tax planning.   We can assist with the registration of International Business Companies (IBCs) or trusts in the major offshore jurisdictions. Our expertise in the British Virgin Islands (BVI) and abroad can help you in optimizing your bottom line.   The Jebel Ali Free Zone Authority (JAFZA) introduced regulations in 2003 for the establishment of Jebel Ali Free Zone Offshore Companies. The international business community can now establish offshore entities at JAFZA in line with other international offshore jurisdictions. Regulations were framed in a manner so as to deliver the convenience and efficiency of global offshore locations and maintain a high repute with international financial authorities.   Besides the traditional advantages of total tax and duty exemption, and a cooperative regulatory regime, offshore companies established under the Offshore Regulations can enjoy the added benefits of Dubai's reputation for commercial transparency and its forward regional location.   OTHER OFFSHORE COUNTIRES We also provide assistant for incorporation in following countries: • British Virgin Island • Bermuda • Cayman Island • Mauritius • Brunei • Hong Kong • China • Malaysia       Our company formation services include: • Professional service for name application and incorporation • Paying Government registration fee • Government filing fees for reservation of 1 company name • Share certificates • Common seal • Minute book & statutory registers • Memorandum & Articles of Association • Opening of first bank account