· 2019-02-17 · business setup or company formation in uae free zones uae free zones are...
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TAX & CORPORATEC O N S U L T A N T S
Tax & Corporate Consultants (TCC)
109–110, Building - 6,
Emaar Gold & Diamond Park,
PO Box 282472, Sheikh Zayed Road,
DUBAI, United Arab Emirates
Phone Number - +971 (0)4 338 8823
Email – [email protected]
Website- www.tcccorporate.com
www.tcccorporate.com
Asset protectionFin
ance
Company ManagementOffshore Management
Inco
me
Company formation
2"Overall, Dubai’s status as a global hub will continue to show in
strength given its extensive connectivity, strong economic
prospects, low tax system and safe haven status, which are all
underpinned by world-class amenities and infrastructure"
COMPANY OVERVIEWT
EA
M O
VE
RV
IEW
18 ARIF SAEED SALIM SALEH ALKASADI CHAIRMAN OF THE BOARD
MARICA PIRAZZINIHEAD - COMMERCIAL ADVISORY
FIORENZO CAPONERAHEAD - LEGAL ADVISORY
ABEY ABRAHAMFINANCIAL & TAXATION
CONSULTANT
FEDERICA D’ANDREACLIENTS & MARKETING
MANAGER
SILVIA STRAKOVAFUND ADVISOR
ABDUL SAMIFINANCIAL ANALYST
Tax Corporate Consultant (TCC) is a UAE based accounting and corporate advisory
boutique company providing quality service across the UAE & Internationally to assist &
partner with our clients and acting like a solution provider.
We specialize in economical financial solutions and our offerings include a wide array of
financial services that cover local and cross-border Tax legislations (VAT and Excise), local
and international business setup, and professional support for entities including
bookkeeping and audit services to support the businesses and meet their requirements of
compliance and internal controls.
Our goal is to guide entities in focusing on their core business development and leave the
entire support and reporting services to us, having us like their
“Partners in Growth”
Experts at Business Setup and Company Formation will guide you on the type of the most suitable
license for your Business.
Experienced Consultants with a keen eye on the GCC Market Business Growth will advise you on the
precise way to implement your Business, either as a Mainland Company or multiples Free Zone
Companies to choose from.
International Consultants speaking eight different languages (English, Arabic, Italian, Spanish, French,
Hindi, Urdu and German) provide comprehensive solutions right from the initiation of business setup,
choosing the right name for your company, procuring trade license, identifying the right sponsors,
arranging visas for partners, dependents and employees, helping you getting your residence visa and
emirates id.
Vast network of successful Business Setups in the UAE, is well connected with SMEs and PROs in the
UAE to help you kick start your business in top gear.
TCC Consultants have the professional expertise to help you incorporate your company from the seed
idea to getting approvals and clearances from the Government Departments, Finding the right local
partners or sponsors, banking recommendations, identifying business centers and office location, and
handling other documentation formalities.
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WHY DUBAI AND UAE
Country Corporate taxation Individual income tax rates VAT or GST or Sales tax (indirect taxation)
UAE 0% 0% 5%
United States 21% + 0 –12% State/Local0-37% (federal) ,+0 -13.3% (state)
+ 0% - 3% (local)
11.725% (highest prevailing state +
local sales tax rate)
Spain 25% Up to 45%21% (standard rate)
10% or 4% (reduced rates)
Luxembourg 29.22% 6-52% 17%
Italy 27.9% (24% + 3.9% municipal) Up to 47% 22% (standard rate)
United Kingdom 19% Up to 45%
20% (standard rate)5% (home energy and renovations)
Germany 29.65% Up to 47.475% 19% (standard rate)
Japan 32.11% Up to 55.945% 8%
Dubai, one of the seven emirates of the UAE, a marginally tax-free city, with no income or capital gain tax for individuals
and companies operating in the UAE.
�e UAE offers steadily growing economic hub with its state of the art infrastructure, tax free income, fair Policy and
regulatory framework, government Initiatives like Expo 2020, connectivity to all countries and a potential growth in
economic development.
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CORPORATES/FIRMS INTERESTED TO START
BUSINESS IN DUBAI
COMPANY FORMATION APPLICATION PROCESS
BEGINS ONCE ALL NECESSARY DOCUMENTS ARE
ACQUIRED. TRADE NAME APPROVAL AS PER THE
CLIENT SELECTIONMINIMUM 3 CHOICE)
ESTABLISHMENT OF THE COMPANY IN THE MAINLAND OR FREE
ZONE ENTITYFZE) HAVING ACTIVITY AS DEFINED AND
REQUIRED BY THE INDIVIDUAL.
PASSPORT COPY FOR ALL PARTNERS FOR DRAFTING
MANAGEMENT AGREEMENT.
PAYMENT FOR THE COMPANY SETUP COST AND MINIMUM
CAPITAL BANK ACCOUNT DEPOSIT.
AFTER THE SETUP OF THE COMPANY, VISIT DUBAI TO SIGN
AGREEMENT AND REGISTRAR COMPANY FORMATION
BANK ACCOUNT OPENING: WE ASSIST IN
IDENTIFYING THE PREFERRED BANKING
PARTNER FOR THE CLIENT AND ASSIST IN
OPENING THE BANK ACCOUNT UNDER
THE NAME OF COMPANY AND ACCESS IS
PROVIDED TO THE CLIENT.
WE WILL ASSIST FOR TRADE FINANCE
FACILITIES LIKE LETTER OF CREDIT (LC), TRADE
DOCUMENTATION COLLECTION AND
DEPOSITS AND BANKING COORDINATION.
WE ASSIST THE COMPANY TOWARDS
PREPARING THE COMPANY FINANCIAL
STATEMENT, AUDIT SERVICES, BANK
ACCOUNT RECONCILIATION, COMPANY PRO
SERVICES, OFFICE AND VISA AND
GOVERNMENTAL SERVICES.
FOR EXISTING COMPANY
World Bank report of 2017 state UAE has ranked 17th
Global Competitiveness Index and 21st in ease of doing
business.
�e UAE is the second safest country in the world behind
only Finland, according to a report from the World
Economic Forum (WEF).
For year 2017, Dubai with 15.79 million was ranked 4 ,
most visited city globally by MasterCard Global
Destination Cities Index.
Dubai offers visitors and residence, world class hotels,
shopping malls, world class restaurants, luxury residential
apartment and villas, beaches and 365 days sunshine.
�e UAE is home to over 200 nationalities out of the 9.2
million total population, the expatriates contribute
around 7.8 million.
INDIVIDUALS: SPORTSPERSON, CELEBRITIES,
ENTREPRENEURS
COMPANY FORMATION APPLICATION PROCESS
BEGINS ONCE ALL NECESSARY DOCUMENTS ARE
ACQUIRED. TRADE NAME APPROVAL AS PER THE
CLIENT SELECTIONMINIMUM 3 CHOICE)
ESTABLISHMENT OF FREE ZONE ENTITYFZE) HAVING ACTIVITY
IN FREE ZONE WITH 100 PERCENTAGE OWNERSHIP.
PASSPORT COPY OF THE INDIVIDUAL FOR DRAFTING
AGREEMENT.
PAYMENT FOR THE COMPANY SETUP COST AND MINIMUM
CAPITAL BANK ACCOUNT DEPOSIT.
AFTER THE SETUP OF THE COMPANY, VISIT DUBAI TO SIGN
AGREEMENT AND REGISTRAR COMPANY FORMATION
BANK ACCOUNT OPENING: WE ASSIST IN
IDENTIFYING THE PREFERRED BANKING
PARTNER FOR THE CLIENT AND ASSIST IN
OPENING THE BANK ACCOUNT UNDER
THE NAME OF COMPANY AND ACCESS IS
PROVIDED TO THE CLIENT.
IF REQUIRED RESIDENCE VISA, THE
PROCESS IS EXPECTED TO CONCLUDE IN
5 UAE BUSINESS DAYS
WE PROVIDE PERIODIC COMPANY
FINANCIAL STATEMENT, BANK ACCOUNT
RECONCILIATION, COMPANYS PRO
SERVICES, OFFICE MANAGEMENT, VISA
AND GOVERNMENTAL SERVICES.
FOR INDIVIDUAL STRUCTURE
th
�e UAE Government has strict and fairly positioned regulatory frameworks to govern new
and existing Businesses in the UAE. �e first step of Setting up a Business in UAE is
identifying the type of license that is appropriate for your type of Business, like :
Commercial License – For Companies with activities related to trade, like consumer
supplies, dry goods etc
Industrial License – For Companies related to Manufacturing or other types of Industrial
activities.
Professional License – For Individuals or groups that offer their expertise as a service to the
general public, like professionals, artists etc.
All Business licenses will be approved and issued by the Department of Economic
Development in Dubai(DED).
�ere are 2 types of companies setup in the UAE, Mainland Company or a Free zone
Company.
SETTING UP A COMPANY IN UAE
%
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Limited Liability Company (LLC)
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.
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).
Benefits of LLC
Access to clients both in the UAE and Free Zones.
No restriction of Office Location
Unlimited employee visas.
100 % Tax Free Income
No minimal Capital Requirement.
Investor can manage the business without interference from the local partner.
Easy access to local/ global bank accounts and loan facilities.
MAINLAND COMPANIES:
�e cost includes the following services
Government company setup charges
Lawyers draft for the Agreements
Bank Account and online access
Residence Visa for two people (additional as per immigration charges)
Medical Test
UAE Local ID Fee
Public Relation Officer dedicated during their stay in Dubai for the setup process
8Capital Requirement Minimum capital required to be provided in the bank account.
Costs
General Trading License Package (First Year)
Fees/charges in Euro
7,500 first year
Annual statutory Fees License renewal and government charges*
Annual Administrative Charges Based on the clients requirement
Formation and Annual Charges (Estimated Cost)
*The cost is for basic company accounts it may differ, if the scope of work is expected to increase and subjected to TCC Tax and Corporates services discretion to propose revised cost.
Any additional or new UAE government charges to be borne by the client and 5% VAT applicable for all fees and charges as per UAE Federal tax laws.
BENEFITS OF ESTABLISHING A FREEZONE COMPANY
%100 foreign Ownership
%100 repatriation of capital and profits
%100 free transfer of funds
%100 exemption of import and export duties
Stable and clear regulation
No Personal Income Tax
No corporate Tax
State of the art infrastructure
No recruitment problems
No Currency restrictions, USD is fixed to UAE dirham at 1$ @
Business Setup or Company Formation in UAE Free Zones
UAE Free Zones are designed according to different business or industry categories and offer
licenses based on specific categories and have been a huge success in the UAE commerce.
Dubai’s self sustainable Free zones have attracted a large number of companies and foreign
direct investments, expanding net non oil export revenues.
An Independent Free Zone Authority (FZA) governs each free zone, and is responsible for
issuing FTZ operating licenses and assisting companies with establishing their business in
the FTZ.
Investors can establish their company in any Free Zone either as :
a Free Zone Establishment (FZE),
Free Zone Company (FZCO) or
as a branch of their parent company based within the UAE or abroad.
Such companies can be solely owned by the foreign investors with no involvement of a UAE
National or sponsor. Some activities may require prior approvals from the competent
authorities depending on the product / activity required by the investor.
FREEZONE COMPANIES:
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FREEZONE COMPANY BENEFITS
3.6725 AED since 1997.
10CONTACT US FOR A
FREE CONSULTATION
SELECT YOUR COMPANY
TYPE AND NAME
LICENSE
NOTIFICATION
VISA PROCESSING &
STAMPING
RAPID BANK ACCOUNT
OPENING
We provide UAE company
formation consultation to
existing and potential
clients.
We offer many company
formation options here in
the UAE for Free Zone
companies and Mainland.
Providing the name of the
company (minimum 3
choice)
Company formation
application process begins
once all necessary
documents are acquired.
Following your Dubai
company’s registration, our
dedicated PRO team will
support you for Visa
processing & stamping.
We are tied up with all
leading banks in UAE, we
can support and act behalf
of you to open bank
accounts rapidly.
FIVE EASY STEPS TO UAE COMPANY FORMATION
STEP 1 STEP 2 STEP 3 STEP 4 STEP 5