Business Laws & Regulations in Dubai, UAE
Posted by Hassan Elhais on January 19th, 2016
With its stellar growth, Dubai has been known for alluring every business opportunists due its efficient licensing rules, infrastructure, and ease of work. In a survey “the World Bank's Ease of Doing Business Survey for 2014,” the Emirate has been indicated as the easiest places to do business. If you're an expat and looking to begin a new business, you need to be informed about the business law and regulations. If you aren't aware, you can seek the help of lawyers and legal advisors in Dubai. We have some of the crucial and fundamental rules of business laws in Dubai:
If you're an expatriate and have been think of opening a limited liability in the Emirate, the law states that around 2 or 50 persons. A limited company has the freedom to get involved in any lawful activity, which should not include insurance, banking or investment. For Approval and License, one needs to approve The Economic Department and the business can be registered with Dubai Chamber of Commerce and Industry. The commercial name chosen should be approved by the Licensing Department of the Economic Department.
The branch can be 100% owned by the foreign company, but it is mandatory for the company to appoint a local service agent, which should be UAE nationals or companies owned by UAE nationals. The branch or representative offices are prohibited from engaging in any kind of import activity, and can’t generate profit.
Foreign firms can establish a permanent presence in the UAE by launching a limited liability company or a sole proprietorship or set up a branch office in a UAE Free Trade Zone. There are many benefits of opening a branch office in FTZ:
It is true that Dubai has earned the reputation for enabling foreign companies to do business with ease, but it is necessary to get familiar with business laws for achieving success.
For More information visit at : http://professionallawyer.me/expertise/company-incorporation.php
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About the AuthorHassan Elhais
Joined: July 15th, 2015
Articles Posted: 41
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