What types of companies are available in the UAE

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What types of companies are available in the UAE?

a. In the beginning, we must know two main types of tax zones within the UAE, so you should know that there is something called a free zone and something called Mainland inside the country

2.Here we are asked what are the advantages and disadvantages of each region?

Advantages

Some tax and customs exemptions in case of sale inside the free zone or outside the country

The existence of legislation specific to the free zone such as the Companies Law

and disadvantages

Restrictions on selling within the country

The establishment fees are a small increase from the mainland

Let's go back again, what are the types of companies?

We can divide the types of companies into two main types

Companies in which the guarantor is the person, I mean if the company has debts to the creditors, the right to refer to the personal property of the owner of the company and the most famous

Partnership Companies

Limited partnership companies

Companies in which the guarantor is the capital, meaning if the company has debts or financial receivables, recourse to them is within the limits of the company's capital and property

Limited Liability Companies

Public Joint Stock Companies

Private Joint Stock Companies

Sole Proprietorship Limited Liability Company

What are the advantages and disadvantages of the types of companies?

Of course the companies that have responsibility within the limits of capital are better than the companies where the responsibility is on the natural person

2. Are the procedures required for establishment the same for all types?

* The incorporation procedures vary of course in terms of: -

A- Activity (commercial - industrial - professional)

Is it a free zone or mainland

Emirate (Dubai - Abu Dhabi - Sharjah - Ajman)

Number of Partners

Nationalities

4. Can a foreign investor own 100% of the company or do they need a local partner?

Yes, it is possible for the foreign investor to own 100% of the company in certain activities and according to the provisions of each emirate and each free zone

5. What are the corporate taxes applicable in the UAE?

1- Yes VAT is an indirect tax of 5% on goods and services

2- Corporate tax up to 9% on corporate tax profit

6. Can I open a corporate bank account in the UAE?

Yes, a bank account can be opened for the company after verifying the documents of the company established in the appropriate manner to ensure the existence of the company actually

7. What are the procedures needed to recruit workers in the country?

* The UAE is one of the countries that preserve the rights of workers in the laws stipulate that every employer who hires labor must have an employment contract and medical insurance to preserve the rights of the worker and the rights of the employer as well