There are potential issues facing companies and businessmen wanting to establish and operate a UAE based business.: Shari’ah law, local ownership rules, Foreign ownership restrictions requiring that UAE nationals or their wholly owned companies hold at least 51% of the share capital of all companies established in the UAE, outside the UAE Free zones. Platinum Alliance Services can assist you in establishing a tailor made structuring, through offshore entities, to hold your UAE Company and mitigate the impact of inheritance law and attract foreign investors into the capital of the offshore entities.
A foreign company can conduct its operations as onshore or free zone branch (more than 30 Free zones are available with their own independent authority not subject to Mainland Commercial companies law), representative office , registered company or by appointing a mainland commercial agent to sell its products in the UAE.
>> The main objective for foreigners or foreign companies is to retain foreign ownership over the entity to be established in the UAE by mitigating the influence of the local Commercial Company Law and its foreign ownership restrictions.
Advantages of establishing a business in UAE:
>> There are no restrictions on dividends and capital repatriation in the UAE.
>> There are no income or capital taxes (except for oil, hotels and domestic banking), no withholding taxes, no Vat and corporate taxes as of end of 2016 (they may be applied in 2018), no foreign exchange controls, no trade barriers, no inheritance taxes, no gift tax. Some companies (Mainland and Free Zone Companies only) could obtain benefits of double tax conventions by obtaining a tax residency certificate.
>>There are several types of legal entities to fit your business operations (limited liability companies LLC, branches or representative offices of foreign or free zone or foreign companies, civil companies, sole proprietorship, joint stock companies JSC, incorporated joint ventures..)