TRC PAMCO

Thinking of starting a business in free zone and don’t           know    what to do for company formation in                           Dubai?                                                                                                Company formation is too complex to understand and needs  a professional company formation expert to help the business to register and set up in Dubai. Dubai is one such destination that helps new businesses or entrepreneurs and offers tax free, 100 percent foreign ownership and free customs duty benefits to investors. The company formation in Dubai starts with the application for a business license. There are three licenses namely:                                                                                               · Industrial license                                                                          · Trade license                                                                                  · Professional license                                                                      Industrial license                                                                        This license is primarily given to industries that are into           manufacturing roles for the conversion of raw material or       semi-finished goods into finished products by use of power        or any other energy legalized by the state and used in               assembling and packaging as well as the production of the      products.                                                                                             Trade license                                                                                      This license is for businesses that invest in general trade areas recognized by State or in a particular trade that conducts        either wholesale or retail trade in the country. Other fields        that require a trade license include transport, hotels, and          general contractors.                                                                          Professional license                                                                         This license is applied by businesses that depend on their          skills rather than capital investments. Businesses that fall in   this category include service oriented firms like engineering,    educational service providers, consultancy companies,              medical practitioners and financial services providers.    Once  the business owner has got the license for this preferred  business, the next is to get his company registered in Dubai     and that needs professional help from company formation      experts on the way forward. These experts advice on the type of license to apply for your business and procedures required for the application process such as the various governmental departments to approach for the authorization. The next           important step is to know the type of company that is to be        opened in Dubai. Only three types of companies can be opened in Dubai and they are:                                                                    · Offshore company                                                                          · Onshore company                                                                          · Free zone company                                                                        Offshore Company                                                                         The opening of an  offshore company in Dubai is simpler           compared to any other type of company. The requirements for the formation are quite cheap and few legal restrictions are     followed. The company having its base in Dubai is not             required to have an operating license and is also exempt from the corporation tax. For offshore company formation, any         person can be a shareholder, director or promoter and can be  wholly owned by foreign nationals.                                                Onshore Company:                                                                           The  onshore company formation is different from the offshore  company formation with few variations. The onshore               company does operations within the borders of Dubai and      conducts business operations internally dealing directly with  local consumers without going for services of wholesalers.       The onshore companies do not enjoy the benefit of tax                exemption like offshore companies and are liable to pay the     corporation tax depending on the field of production to the       authorities. The foreigners are allowed membership for the      formation and shareholding of onshore companies at 49         percent irrespective of the field of operation.                                  Free Zone Company                                                                      Dubai is one of the world’s leading free zone hub with many    free zones offering suitable conditions for different startups     that are involved in industrial, technological, and automobile fields. The company formation process for free zone is not at    complex as that of an onshore company and more inviting       than many others free zones in the world. The various free       zones provide competitive and business  favorable                      environments for new businesses. TRC pamco assists the           clients with company formation services, location of business, identifying a partner, licensing and complying with legal        requirements, formation & documentation.