|
Can do unlimited business in the UAE and outside.
|
It is permitted to undertake business only in the free zone and outside the UAE.
|
|
100 % company ownership is permitted now.
|
|
|
The size of the premises will depend upon the number of required visas. The minimum will be 200 sq ft/ license on an annual tenancy contract basis (Ejari) issued by the Land Department.
|
The physical office is not necessary. Make use of Flexible or smart desk offered by free zone business centers.
|
|
There would be no limit on the number of visas, and their granting by the Ministry of Labour to the Mainland company would depend on available office space based on an E-quota system.
|
It can have 2 to 6 visas depending on the freezone and the package availed. To get more visas, a requirement includes an office space.
|
Type of Approvals Required
|
Their are relevant DED (Department of Economic Development), Dubai Municipality (DM), Ministry of Labour (MOL), Dept. of Naturalization and Residency Affairs, Immigration. 2. Some business activities require additional approvals from external authorities such as Dubai Health Authority, Knowledge & Human Development Authority, Food Dept., Civil Defence, Real Estate Regulation authority, etc.
|
These visas range from 2-6 depending on the free zone and package availed. Office space is required for more visas to be availed.
|
Company Audit/Financial Records Maintenance
|
One of the key requirements for a UAE mainland company is to keep a record of all financial transactions and undergo a periodical financial audit.
|
Whether or not a free zone company needs to have its financials audited depends on the jurisdiction in which that company is incorporated. Some free zone jurisdictions are exempt from financial audits. It is not globally required that every Free Zone entity compulsorily undertake financial audits; however, some free zone entities, like FZE and FZCO, need a year-end audit. It is very much advisable for every company.
|
|
The minimum capital requirement for a UAE mainland company differs and is determined based on its legal form.
|
The minimum capital requirement for a free zone company differs and is determined by the emirate where the incorporation of the company occurs.
|
|
No minimum share capital is, in general, required. This being determined by its legal structure as envisaged under its legal form.
|
Deposited share capital proof and amount differ from free zone to free zone.
|