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This company can engage in the sale of various types of tires and related accessories, including casings, rims, and tubes.
Commercial license that allows to сonduct trading activity.
As part of the company registration process with this business activity, no additional approvals are required.
There is no requirement for a minimum share capital for local companies in Dubai with this business activity, its contribution is optional.
If the shareholder plans to obtain an investor visa, the shareholder's share in the share capital should be at least AED 48,000.
The Department of Economy and Tourism (DET) has the following basic requirements for company names:
Entrepreneurs are provided with the opportunity to open a corporate account in classic banks with physical branches, as well as in digital banks and in payment systems.
When choosing a bank to open a corporate account, factors such as the level of service, fees, available currencies, convenience of online banking, the reputation of the bank and other conditions that may be important for business should be taken into account.
Successful corporate bank account opening requires a well-prepared document package, which may vary depending on the specific requirements of a particular bank. Incorrectly or incompletely submitted documents may negatively affect the final decision of the bank in processing the application for opening a corporate bank account.
Mainland is the common continental territory that includes all 7 emirates of the UAE: Dubai, Abu Dhabi, Sharjah, Fujairah, Umm Al Quwain, Ajman and Ras Al Khaimah. This territory is subject to both federal and local laws. A company registered in Mainland in any of the 7 emirates receives the status of a local company, allowing it to conduct business both inside and outside the UAE, cooperate with local and international clients and partners, and participate in tenders for government contracts and projects.
For local companies in Dubai, a Commercial license is issued for various types of business activities, which are divided into 4 types:
The registration process for local companies in Dubai is carried out through the Department of Economy and Tourism (DET). DET is the principal authority for business registration, licensing and regulation in Dubai.
Mainland registration is the best choice for investors and entrepreneurs for several key reasons:
A local company in Dubai can choose the most suitable legal form from those offered by the Department of Economic Development and Tourism (DET):
1. Sole Establishment (SE): A professional company founded and managed by a single shareholder who has unlimited liability and is personally responsible for all company debts. The shareholder can be either a UAE citizen or a foreigner, but a foreigner will require a local service agent (LSA) who holds UAE citizenship and is not a company shareholder but receives an annual fee for their formal involvement.
2. Limited Liability Company - Single Owner (LLC-SO): A limited liability company founded by a single shareholder. The shareholder is only liable for the company's debts up to its share of the capital. The shareholder can be either a UAE citizen or a foreigner.
3. Limited Liability Company (LLC): A limited liability company that allows 2 to 50 shareholders who are only liable for the company's debts up to their share of the capital. Shareholders can be UAE citizens, foreigners, or legal entities.
4. Civil Company: A professional company allowing 2 to 50 partners who have unlimited liability and are personally responsible for the company's debts. Partners can be UAE citizens or foreigners who pool their resources and skills to provide professional services (such as consulting, legal, medical, etc.). Foreign partners require a local service agent (LSA) who holds UAE citizenship.
5. Partnership Company: A partnership company allowing 2 to 50 partners, who must be UAE citizens. Partners are only liable for the company's debts up to their share of the capital.
6. Simple Partnership Company (Limited Partnership CO): A simple limited partnership allowing 2 to 50 partners divided into two types: general and limited partners. General partners have unlimited liability and are personally responsible for all company debts, while limited partners are only liable up to their share of the capital. Partners can be UAE citizens, foreigners, or legal entities.
7. Private Joint Stock Company: A closed-type joint stock company allowing 2 to 50 shareholders. Shareholders are only liable for the company's debts up to their share of the capital and are not personally responsible. Shareholders can be UAE citizens, foreigners, or legal entities. Shares of a private joint stock company cannot be publicly traded on stock exchanges and can only be transferred among company shareholders.
8. Public Joint Stock Company: An open-type joint stock company allowing 2 to 50 shareholders. Shareholders are only liable for the company's debts up to their share of the capital and are not personally responsible. Shareholders can be UAE citizens, foreigners, or legal entities. Shares of a public joint stock company can be publicly traded on stock exchanges, making them available for purchase and sale on the market.
For a local company in Dubai, there are various options for office solutions:
1. Virtual Office:
2. Coworking Spaces:
3. Office Spaces:
4. Shops:
5. Commercial Buildings:
6. Warehouses, Technical, and Other Spaces:
In the UAE, there are several types of taxes and duties that regulate the financial activities of both legal entities and individuals. Let's explore the key ones:
1. Value Added Tax (VAT):
2. Corporate Tax:
3. Excise Tax:
4. Customs Duties:
5. Personal Income Tax:
The local territory in Dubai provides the following main types of visas for foreign entrepreneurs and company employees:
1. Investor Visa:
2. Employment Visa:
3. Work Permit:
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