Author name: tycoondocument

offshore

A Complete Guide for UAE Offshore Company Setup

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A Complete Guide for Offshore Business Setup in the UAE All Business Setup Related Services: Contact Tycoon Documents, Dubai Apply Online Contact us Mainland Freezone offshore Mainland companies are licensed by the Department of Economic Development (DED) of the respective emirate. They can operate both within and outside the UAE. Local Market Access: Mainland companies can do business anywhere in the UAE, including the local market. Office Location: Flexibility to open an office anywhere in the UAE. Business Activities: No restrictions on the types of business activities. Government Contracts: Eligibility to bid for government projects and contracts. Local Sponsorship : Not Mandatory for all Business Freezone companies are established in designated areas that offer specific economic benefits. Full Ownership: 100% foreign ownership is allowed. Tax Benefits: Often enjoy tax exemptions, such as no personal or corporate income taxes. Repatriation: 100% repatriation of capital and profits. Simplified Procedures: Easier and faster company setup procedures. Customs Duty Benefits: Exemption from import and export duties within the freezone. Specific Activities: Some freezones are specialized and restrict the type of business activities. Offshore companies are set up for international business operations outside the UAE. Full Ownership: 100% foreign ownership is allowed. Privacy: High level of confidentiality and privacy. Tax Benefits: No taxes on income earned outside the UAE. Cost-Effective: Lower setup and operating costs. No Physical Presence: Cannot have a physical office in the UAE or conduct business within the UAE. Restrictions: Limited to international business activities, primarily for holding, asset protection, and international trading. How to Setup Offshore in Dubai and the UAE Setting up a UAE offshore company has become a popular choice for investors seeking to expand their foreign trade opportunities. A Dubai offshore company offers an ideal combination of tax efficiency and cost-effectiveness. Often referred to as non-resident “paper” companies, offshore entities in the UAE allow entrepreneurs in the MENA (Middle East & North Africa) region to operate with minimal administrative responsibilities. These businesses are structured as Limited Liability Companies, offering full ownership with tax exemptions and no annual accounting or tax obligations. Offshore companies are commonly used for: International trading Holding company functions Shipping operations Real estate ownership Registering copyrights and patents Providing international consulting services Regulations for International Company Registration While the UAE offshore company registration process is relatively straightforward, there are important considerations to keep in mind: No minimum share capital is required. At least one shareholder and one director are necessary. Shares must be fully paid at the time of allocation; bearer shares and differential share classes are not permitted. Capital does not need to be deposited in a bank. 100% foreign ownership is allowed, with full exemption from taxes and duties. You can open a corporate bank account in Dubai. A registered agent, such as a legal firm or consultant from an approved list, must be appointed. UAE offshore companies fall under the jurisdiction of UAE free zones. Incorporation can be done remotely, but documents must be signed at the registered agent’s office. Authorities may request audited financial statements if needed. Offshore vs. Free Zone Company Setup UAE offshore companies differ from UAE free zone companies. Offshore companies are set up primarily to operate outside their registered jurisdiction or ultimate ownership location. In contrast, free zone companies are onshore entities allowed to conduct business within the UAE and offer UAE residency for shareholders and employees. Benefits of Registering an Offshore Company in Dubai Foreign entities have several reasons for choosing a UAE offshore company, including: Access to international market expansion Stability and a favorable legal system Flexible regulatory environment Tax neutrality on international earnings, depending on the jurisdiction Increased access to global funding Asset protection and separation, including intellectual property The UAE offers three main jurisdictions for offshore company formation: Jebel Ali Free Zone Authority (JAFZA) Ras Al Khaimah (RAK) Ajman Free Zone Of these, RAK and JAFZA are particularly popular. Both provide tax-free environments and permit 100% foreign ownership. Additionally, the UAE has Double Tax Treaty agreements with over 90 countries. Offshore companies can also open multi-currency accounts for international transactions, though they may not conduct business with UAE residents or maintain physical premises in the UAE. While both RAK and JAFZA have their advantages, Ras Al Khaimah is generally more cost-effective, whereas JAFZA allows for property ownership in Dubai. Both jurisdictions require an approved registered agent. JAFZA Offshore Company Incorporation: Features & Benefits Established in 2003 under the Jebel Ali Free Zone Offshore Companies Regulations, JAFZA offers: A minimum of 1 shareholder is required, and corporate shareholders are allowed. International corporate shareholders must provide attested company documents. At least two directors are needed, and corporate directors are not permitted. Director details are not publicly disclosed. A company secretary is mandatory; a director can also serve as the secretary. No minimum share capital is required. Accounting records must be maintained for up to 10 years, with annual audits required from approved auditors. Benefits of JAFZA Offshore Incorporation: 100% foreign ownership Ability to own real estate in Dubai (subject to free zone and developer permissions) Can own shares in free zone and onshore LLC companies Multi-currency bank account availability for international transactions Shareholders and directors can remain confidential RAK Offshore Company Incorporation: Features & Benefits Introduced in 2006 under the Ras Al Khaimah Free Trade Zone Authority International Companies Regulations, RAK offers: A minimum of 1 shareholder is required, with corporate shareholders permitted. International corporate shareholders need attested company documents. At least one director is required, and corporate directors are not allowed. Director details are not publicly accessible. A company secretary is necessary; a director can also act as the secretary. No minimum share capital is required. Accounting records must be kept for up to 7 years, though they do not need to be filed with RAK authorities. Benefits of RAK Offshore Incorporation: 100% foreign ownership Ability to own shares in free zone and onshore LLC companies Fast incorporation process, typically within a week Multi-currency bank account availability for international transactions Confidentiality for shareholders

Abu Dhabi, Ajman, Dubai, Fujairah, News, Ras Al Khaimah, Sharjah, Umm Al Quwain
bdbaafdedefaedf

A Complete Guide for Influencer License in the UAE

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A Complete Guide for Influencer License in the UAE All VISA Related Services: Contact Tycoon Documents, Dubai Apply Online Contact us How to Obtain an Influencer License in Dubai and the UAE The United Arab Emirates (UAE) has become a thriving hub for social media influencers, thanks to its dynamic population and rapidly evolving digital landscape. The country has seen a surge in both local influencers and international creators. To ensure a safe and transparent influencer space for consumers and brands alike, the National Media Council (NMC) has introduced new regulations, effective from July 1st, 2024. These regulations mandate that social media influencers obtain a license before engaging in promotional activities. This move is a significant step toward establishing a more structured and transparent influencer ecosystem in the UAE. Partnering with licensed influencers can significantly enhance your influencer marketing services in the UAE. This guide provides aspiring and established influencers with a roadmap for navigating the new influencer licensing system in the UAE. We’ll explore who needs a license, the benefits of obtaining one, and how to acquire it, ensuring you remain compliant and successful in the digital space. Why the Change? The UAE’s influencer landscape has been growing exponentially over the past few years. To ensure this dynamic environment continues to thrive responsibly, the UAE has introduced influencer licenses. The goal is to create a more responsible and regulated social media environment. The NMC aims to ensure transparency and ethical practices within influencer marketing, protecting both consumers and brands. The license acts as a safeguard against misleading or deceptive advertising, promoting content that aligns with UAE community guidelines. These measures contribute to a better and safer digital space. Who Needs an Influencer License? The new regulations apply to anyone residing in the UAE who earns monetary benefits or receives gifts in exchange for promoting products or services on social media platforms like Instagram, YouTube, and Facebook. This includes bloggers, vloggers, and anyone monetizing their content through brand partnerships. Social media marketing teams working with influencers must also comply with these regulations. What are the Benefits of Getting an Influencer License? While obtaining a license might seem like an extra step, it offers several advantages: Legality and Credibility: Holding a license enhances your credibility. It shows your adherence to NMC guidelines, granting you legitimacy and boosting your standing with brands and potential clients. Protection: The license promotes transparency and fair practices within the influencer industry, safeguarding both influencers and consumers. Growth Opportunities: Having an influencer license opens doors to collaborations with larger brands and participation in official influencer marketing campaigns. What Are the Laws for Influencers in the UAE? In 2018, the UAE government introduced regulations requiring individuals involved in paid promotional work on social media to obtain a license from the NMC. These regulations apply specifically to influencers receiving monetary compensation or gifts for their work. To obtain the NMC permit, one must apply for an E-Media License. However, those who occasionally review products or create content on their website generally do not need a license. In addition to obtaining a license, social media influencers must adhere to several rules, including: Maintaining records of all promoted materials. Complying with laws regarding photography, defamation, and privacy. Avoiding statements that could be considered blasphemous. Refraining from using language or messaging that is anti-Islamic, promotes sinful activities, or could negatively influence minors. Not sharing content that mocks national leaders or disrupts public peace. Social media influencers are also prohibited from promoting alcohol in any form. Compliance with these regulations is crucial for ensuring a responsible and lawful approach to social media influencing in the UAE. What is an NMC License? The National Media Council (NMC) license for social media influencers was first introduced in 2018. The license is designed to regulate the social media influencer industry. The National Media council falls under Media Regulatory Office – Ministry of Culture and Youth. It is mandatory for anyone who receives financial compensation through their work, including advertising, reviews, or ‘product placement’ in their content. The NMC license does not apply to the owners of personal websites, bloggers, or people who promote their brands on social media. It also doesn’t apply to people who do unpaid reviews of products (assuming they are independent of the brand they’re reviewing and receive no remuneration). NMC licenses initially last one year and must be renewed annually. There are three licensing options for the NMC license, as follows: Category 1 NMC License Category 1 licenses are for influencers who want an individual license that will allow them to continue working as completely independent social media influencers. Category 2 NMC License This kind of social media license covers small groups of influencers who want to come together and set up a company. The company needs to be registered and will have to hold a trade license. This approach has the advantage of being less expensive than Category 1 licenses. Category 3 NMC License The third NMC license option is for you to sign up with one of the official Dubai social media influencer agencies already certified by the National Media Council. These agencies have a license covering all their influencers, and they will cover you. The drawback, of course, is that you may have less control over what content you promote. If you are found to be working as a social media influencer without holding an NMC license, you may face a fine of AED 5,000 and could even have your social media accounts suspended. How to Get an Influencer License in Abu Dhabi To obtain your influencer license in Abu Dhabi, follow these steps: Visit the Tamm platform and log in using your digital ID. Navigate to services provided by the Abu Dhabi Department of Economic Development (DED). Choose the freelancer license option. Fill out the required information. Pay the necessary fees to receive your license via email. Steps to Obtain a Social Media Influencer License in Dubai, UAE The process of obtaining an influencer license in Dubai, UAE, is relatively straightforward

Abu Dhabi, Ajman, Dubai, Fujairah, News, Ras Al Khaimah, Sharjah, Umm Al Quwain
Freelancer Visa

A Complete Guide of UAE Freelance Visa In 2024

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Everything you need to know about Freelancer Visa All VISA Related Services: Contact Tycoon Documents, Dubai Apply Online Contact us Freelance Visa in UAE – Types, Benefits , Eligibility, Cost,Process Freelance Visa and Permits in the UAE Explained If you want to start your own business or work from home, the UAE offers a great opportunity through the freelance permit. To work as a freelancer, you need both a UAE residence visa and a freelance work permit. Freelancing in the UAE lets you work independently, but there are a few things to consider. What is a freelance permit? It’s a special permission from the government that allows you to work legally in the UAE. It’s not the same as a visa and can be obtained from certain government departments or special business zones. To live in the UAE, you need a visa. But you don’t always need a specific freelance visa if you have a freelance permit. For example, if you have a family visa from a family member, you can still get a freelance permit. If you already have a full-time job with an employment visa, you can get a freelance permit to do extra freelance work. Sometimes, you might need a No Objection Certificate (NOC) from your current visa sponsor. In the UAE, you can get a freelance work permit from various sources. It might come from a government department like the Abu Dhabi Department of Economic Development (ADDED), or more commonly, from free zones. Free zones like Dubai Media City, Abu Dhabi’s twofour54, and Ajman Creative City offer freelance permits. Other emirates have similar options too. Key Points About Freelance Permits in Dubai: The cost of the freelance permit does not cover your visa, Emirates ID, or health insurance. These are extra costs you need to think about when budgeting. You can apply for a freelance work permit even if you are not in the UAE. Once your application is approved, you’ll get an entry permit to enter the UAE. After entering, you can continue with the visa application. If you are already in the UAE on a visit visa, you can apply for both the work permit and the visa. Some free zones offer a sole proprietorship license instead of a freelance permit. This lets you own a company fully. However, you might need to switch your visa to the free zone’s visa. A freelance permit is great for people in media, technology, and education who want to work independently and build their client base. It’s ideal for those who don’t want a full-time job or prefer short-term contracts. It’s also good for people living outside the UAE who want to work on short-term projects. Some free zones may ask for a business plan with your application. This plan should show your current and future contracts to prove you qualify for the permit. Depending on what you do, you can choose one or more types of work when applying for a freelance permit. Different free zones offer different options. To apply, you can contact the relevant authority or sign up online through their official websites or apps. Getting a freelance permit in the UAE involves several steps and costs. It’s important to plan for all expenses. This permit is ideal if you want to work independently without committing to a full-time job. Benefits of Freelance Visa and Permit in the UAE Having a freelance permit and visa in Dubai offers several advantages: Work Flexibility: With a freelance visa, you can work for multiple companies or clients. This flexibility is perfect if you prefer not to have a traditional 9-to-5 job and want to take on different projects. Cost-Effective: Freelance visas in Dubai are usually cheaper than setting up a full company. This lower cost helps you offer competitive prices, which can attract more clients. No Office Space Needed: Unlike traditional businesses, you don’t need to invest in office space with a freelance visa. This means lower overhead costs and an easier entry into the market. Access to Free Zones: Freelancers with a Dubai visa can use business centers in free zones. These centers provide essential resources and facilities to help you work efficiently. Family Sponsorship: With a freelance visa, you can sponsor your family members to live with you in Dubai. This is a great benefit if you want your loved ones close while you work. Affordable and Flexible: Applying for a freelance visa in Dubai is cost-effective, with options for 1 or 3-year validity. You also have access to multiple free zones. It’s also a good option if your spouse lives in Dubai, as it can help with family reunification. Job Opportunities: Dubai has many job opportunities and assignments for freelancers through official marketplace websites. You can connect with companies and people looking for freelancers with your skills. Freelance visas offer flexibility and opportunities for both residents and non-residents to work legally in Dubai. Be sure to check the specific requirements and procedures for each type of visa to find the one that best fits your needs. What Can You Do with a Freelance Permit in the UAE? With a freelance permit in the UAE, you can: Offer Your Services: You can provide your services to individuals and companies. Get Paid: You can bill your clients and receive payment for your work. Work with Government Organizations: You can work with government agencies if your freelance services require it. Use Shared Office Spaces: Many free zones offer shared office spaces for freelancers. These co-working spaces provide a professional environment to work and give you a chance to network with other professionals. It’s like having an office without needing a long-term lease or working from home. Types of Freelance Visas in Dubai In Dubai, different types of freelance visas are available depending on your situation: Freelance Visa and Work Permit for Residents: If you already live in Dubai, you can apply for a freelance work permit even if you have a full-time job. If you’re employed,

Abu Dhabi, Ajman, Dubai, Fujairah, News, Ras Al Khaimah, Sharjah, Umm Al Quwain
job seeker

Everything you need to know about Job Seeker Visit Visa

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Everything you need to know about Job Seeker Visa All VISA Related Services: Contact Tycoon Documents, Dubai Apply Online Contact us Jobseeker visit visa   Foreigners are granted a visit visa to search for a job without requiring a host/sponsor in the country, for one trip. You can apply for a job-seeker visa with a validity of either 60, 90 or 120 days. Read about the eligibility criteria and the steps to apply.  UAE job seeker visa validity options The UAE job seeker visa will be issued with three validity options, including for a period of 60, 90 and 120 days. Therefore, job seekers will have around 4 months to explore the job market in the UAE. UAE job seeker Visa eligibility requirements The job seeker visa does not require a sponsor or a host and will be granted if the applicant meets the following requirements: Is classified in the first or second, or third skill level as per the Ministry of Human Resources and Emiratisation Level 1: Legislators, managers, and business executives Level 2: Professionals in scientific, technical, and human fields Level 3: Technicians in scientific, technical, and humanitarian fields Is a fresh graduate of the best 500 universities in the world Is able to support themselves during the time they are in the country Has a minimum educational level of a bachelor’s degree or its equivalent. Graduated a maximum of two years before the year of application. UAE job seeker visa documents required To apply for the UAE job seeker visa, the following documents will be required: A passport copy of the applicant. A coloured photo of the applicant’s Government authorised identity card Attested qualification certificates Please note that additional documents may be required in some cases. How to apply online for the UAE job seeker visa? The UAE job seeker visa or the job exploration visa can be applied for online from the Federal Authority for Identity, Citizenship, Customs and Port Security (ICP) website by following the steps given below: Visit the Federal Authority for Identity, Citizenship, Customs and Port Security (ICP) website. Select the type of job seeker visa you want to apply for from the validity options of 60, 90 and 120 days. Fill in the required information and submit the attachments as required. Pay the visa application fees and submit your visa request. Please note that you can also apply for the UAE job seeker visa at Tycoon Documents and Services Call Us 24/7 971 56 993 1404/02 OR Get Your Consultation FREE! Request Appointment

Abu Dhabi, Ajman, Dubai, Fujairah, News, Ras Al Khaimah, Sharjah, Umm Al Quwain
E commerce

Complete Guide : How to Setup E Commerce Business in Dubai

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E Commerce Business in Dubai All Business Setup Related Services: Contact Tycoon Documents, Dubai Apply Online Contact us   How to Get an E-Commerce License in Dubai The e-commerce market in Dubai is booming, fueled by a surge in online shopping since the COVID-19 pandemic. With nearly everyone having access to fast and reliable internet service, industry experts forecast the UAE’s e-commerce sector to reach USD 8 billion by 2025. This thriving market presents a lucrative opportunity for business-savvy individuals looking to capitalize on the growing demand for online goods and services. But why and how can you set up an e-commerce business in Dubai? This article will explore the entire process and requirements to start an e-commerce business in Dubai. Why is Dubai a Lucrative E-commerce Market? The UAE has the fastest-growing online market in the Middle East and Northern Africa (MENA) region, with many natural and administrative factors contributing to this. Here are some reasons why you should start an e-commerce business in Dubai: 100% foreign business ownership 0% personal income tax Extensive transportation networks for fast and convenient product delivery services High standard of manufacturing and warehousing facilities Seamless and cost-effective business setup procedures Availability of secured and convenient online payment gateways Effective and interest-free installment payment options for customers A supportive business ecosystem for startups and SMEs A fast, efficient, and highly secured banking system A pool of multi-national, innovative, and creative IT talents Fast, reliable, and affordable logistics and delivery services Top Online Selling Platforms in Dubai, UAE The online market in Dubai is highly competitive, with some of the region’s most renowned online marketplaces offering a wide range of products. When opening an e-commerce business in Dubai, you will likely face competition from some of the top brands in the market: Amazon.ae: Electronics, Fashion, Homeware, Groceries, etc. Noon.com: Fashion, Electronics, Beauty products, Baby items, and Homeware Namshi.com: Fashion Apparel, Footwear, and Accessories Ounass.com: Luxury Fashion and Beauty Products Jumbo.ae: Electronics, Appliances, and Home Entertainment Products Sharaf DG: Electronics and Home Appliances SHEIN: Fast Fashion, Trendy and Affordable Clothing, Accessories, and Beauty Temu: Fashion and Lifestyle items How to Get an E-Commerce License in Dubai The business and legal regulatory body governing business operations in Dubai, the Department of Economy and Tourism (DET), stipulates the necessity to obtain the required business license to conduct specific business activities. Therefore, you will need an e-commerce license in Dubai to sell using any online platform like your website, social media, or an e-marketplace. Dubai offers three types of e-commerce licenses: Portal License: Allows you to open an e-marketplace in Dubai, like Amazon, acting as an intermediary between buyers and sellers. E-commerce License: Perfect for selling a specific range of products using your website and social media handles. E-trader License: A unique and affordable license for UAE and GCC nationals to perform small-scale home e-commerce business activities using social media. Foreigners can use this license to provide online services but cannot open a shop or issue visas. You are not limited to selling or providing online services only with an e-commerce license. Other types of business licenses in Dubai, UAE, also allow you to sell products and offer services using the Internet. Steps to Get an E-Commerce License in Dubai Company formation in Dubai is a straightforward process, but it can be frustrating and time-consuming without proper preparation and understanding of the legal procedures. Here are simplified steps for a smooth and hassle-free experience: Perform market research to understand the UAE e-commerce market trends, customer demands, and behaviors. Draft a concise business plan outlining your goals, target customers, and product offerings. Outline your legal structure to determine your ownership rights, desired business entity (Freezone or Mainland), and preferred e-commerce business license in Dubai. Choose a unique name for your company that resonates with your target market and product offerings. Collect and fill out the trade license application form from the Department of Economy and Tourism (DET). Submit all relevant documents and get initial approval from all relevant authorities. Apply for your e-commerce business license and pay related fees. Get your business license, apply for visas, and open a business bank account in the UAE. What is the Cost of an E-Commerce Trade License in Dubai? The actual cost of starting your online store in Dubai will depend on your needs and requirements. Getting a Freezone license in Dubai is often a cost-effective option. Several Freezones in UAE are designed to meet specific demands of the commerce industry. List of Some Freezones in UAE for E-commerce Company Formation Dubai CommerCity Freezone International Freezone Authority (IFZA) Sharjah Media City Freezone (SHAMS) Meydan Freezone Dubai Digital Park Freezone (Dtec) Ras Al Khaimah Economic Zone (RAKEZ) Dubai Multi Commodities Centre (DMCC)    Frequently Asked Questions Here are answers to the most frequently asked questions. Can foreign nationals own 100% of a company in Dubai? Yes, a foreign national is eligible for 100% ownership of a free zone/Offshore and In Mainland  specific business company in Dubai, and across the UAE. Can foreign nationals register a company in Dubai? Yes, foreign nationals can easily register a business in Dubai. Professional assistance is necessary for aspects like licensing, visa issuance, and bank account opening, and a business setup consultant in Dubai can assist you with this. Can I start a business in Dubai or UAE without an office? Yes, Dubai/UAE  allow you to register and own businesses without the need for a physical office space. Can I secure visas for my dependents through a free zone business in the UAE? Yes, you can easily sponsor your spouse and children through a free zone business license.You are Eligible for Family Visa What are the different types of business licenses issued in UAE? The three(3) most prominent licenses available in UAE are professional, commercial, and industrial.  Professional license: A professional license permits offering specialized services such as consultancy, accounting, legal advisory, and so on. This license is required for skilled professionals looking to set up businesses and

Abu Dhabi, Ajman, Dubai, Fujairah, News, Ras Al Khaimah, Sharjah, Umm Al Quwain
RAK

Everything you need to know about Ras Al Khaimah Business Setup

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Everything you need to know about RAK Business Setup All Business Setup Related Services: Contact Tycoon Documents, Dubai Apply Online Contact us Business Setup in Ras Al Khaimah Ras Al Khaimah, located in the northern region of the United Arab Emirates, is a promising yet underexplored investment opportunity. The emirate, which shares a border with the Sultanate of Oman, has extended an open invitation to businesses. The visionary rulers of Ras Al Khaimah, or RAK, have established infrastructure facilities, sufficient connection, and other amenities required for commercial growth. Business people have recently recognized the emirate’s potential for expansion. Those who were initially interested in establishing a business in Dubai have now turned their attention to RAK. You can form Limited Liability corporations (LLC), Branch Offices, Representative Offices, Free Zone corporations, and other types of commercial firms here. The fruitful atmosphere 3 Types of Business Jurisdictions in UAE Mainland Freezone offshore Mainland companies are licensed by the Department of Economic Development (DED) of the respective emirate. They can operate both within and outside the UAE. Local Market Access: Mainland companies can do business anywhere in the UAE, including the local market. Office Location: Flexibility to open an office anywhere in the UAE. Business Activities: No restrictions on the types of business activities. Government Contracts: Eligibility to bid for government projects and contracts. Local Sponsorship : Not Mandatory for all Business Freezone companies are established in designated areas that offer specific economic benefits. Full Ownership: 100% foreign ownership is allowed. Tax Benefits: Often enjoy tax exemptions, such as no personal or corporate income taxes. Repatriation: 100% repatriation of capital and profits. Simplified Procedures: Easier and faster company setup procedures. Customs Duty Benefits: Exemption from import and export duties within the freezone. Specific Activities: Some freezones are specialized and restrict the type of business activities. Offshore companies are set up for international business operations outside the UAE. Full Ownership: 100% foreign ownership is allowed. Privacy: High level of confidentiality and privacy. Tax Benefits: No taxes on income earned outside the UAE. Cost-Effective: Lower setup and operating costs. No Physical Presence: Cannot have a physical office in the UAE or conduct business within the UAE. Restrictions: Limited to international business activities, primarily for holding, asset protection, and international trading. Freezones in RAK Ras Al Khaimah Economic Zones (RAKEZ) Ras AlKhaimah Maritime Frequently Asked Questions Here are answers to the most frequently asked questions. Can foreign nationals own 100% of a company in Dubai? Yes, a foreign national is eligible for 100% ownership of a free zone/Offshore and In Mainland  specific business company in Dubai, and across the UAE. Can foreign nationals register a company in Dubai? Yes, foreign nationals can easily register a business in Dubai. Professional assistance is necessary for aspects like licensing, visa issuance, and bank account opening, and a business setup consultant in Dubai can assist you with this. Can I start a business in Dubai or UAE without an office? Yes, Dubai/UAE  allow you to register and own businesses without the need for a physical office space. Can I secure visas for my dependents through a free zone business in the UAE? Yes, you can easily sponsor your spouse and children through a free zone business license.You are Eligible for Family Visa What are the different types of business licenses issued in UAE? The three(3) most prominent licenses available in UAE are professional, commercial, and industrial.  Professional license: A professional license permits offering specialized services such as consultancy, accounting, legal advisory, and so on. This license is required for skilled professionals looking to set up businesses and deliver services based on their intellectual or artistic capability. Commercial license: A commercial license is granted for businesses involved in trading activities and is required to legally conduct activities such as import and export of goods within and outside the UAE.  Industrial license: An industrial license is needed for businesses conducting activities such as manufacturing, packaging, segregation, etc. What documents are required to start a free zone business in UAEi? The following documents are required from the shareholder(s) and manager(s) for free zone company formation : Passport copy Latest UAE entry stamp/visit visa copy Residence visa copy and Emirates ID (for UAE residents) Address proof Passport-size photo Please note that in addition to these, you may be required to submit additional documents. Consulting with a Tycoon business setup company will help you gain more information in this regard. Business Setup Corporate PRO VISA Services Business Consulting Attestation Call Us 24/7 971 56 993 1404/02 OR Get Your Consultation FREE! Request Appointment

Ras Al Khaimah, Umm Al Quwain
UAQ FREE ZONE

Everything you need to know about UAQ Business Setup

Umm Al Quwain / / / , , , , ,

Everything you need to know about UMM AL-QUWAIN Business Setup All Business Setup Related Services: Contact Tycoon Documents, Dubai Apply Online Contact us Business Setup in UAQ Another business destination that provides excellent chances for corporate entities is Umm Al Quwain, which is situated on the west coast of the United Arab Emirates. For several companies, the Umm Al Quwain Free Trade Zone (UAQFTZ) created a new playing field. They came in droves to discover the great advantages of the emirate. Both big corporations and SMEs have praised UAQ for its business-friendly environment. There are no obstacles in the way of starting a company. The administration will provide outstanding assistance during the procedure. In addition to a system that promotes company expansion. The emirate has demonstrated optimistic aspects that businesspeople have yet to recognize. Tycoons is a company setup service provider in the United Arab Emirates that helps uncover UAQ’s growth potential. Numerous business firms have received our assistance in establishing their operations in the emirate. We are really happy to see them succeeding in their different industries. With the years of experience under our belts, we guarantee the greatest support for your business. 3 Types of Business Jurisdictions in UAE Mainland Freezone offshore Mainland companies are licensed by the Department of Economic Development (DED) of the respective emirate. They can operate both within and outside the UAE. Local Market Access: Mainland companies can do business anywhere in the UAE, including the local market. Office Location: Flexibility to open an office anywhere in the UAE. Business Activities: No restrictions on the types of business activities. Government Contracts: Eligibility to bid for government projects and contracts. Local Sponsorship : Not Mandatory for all Business Freezone companies are established in designated areas that offer specific economic benefits. Full Ownership: 100% foreign ownership is allowed. Tax Benefits: Often enjoy tax exemptions, such as no personal or corporate income taxes. Repatriation: 100% repatriation of capital and profits. Simplified Procedures: Easier and faster company setup procedures. Customs Duty Benefits: Exemption from import and export duties within the freezone. Specific Activities: Some freezones are specialized and restrict the type of business activities. Offshore companies are set up for international business operations outside the UAE. Full Ownership: 100% foreign ownership is allowed. Privacy: High level of confidentiality and privacy. Tax Benefits: No taxes on income earned outside the UAE. Cost-Effective: Lower setup and operating costs. No Physical Presence: Cannot have a physical office in the UAE or conduct business within the UAE. Restrictions: Limited to international business activities, primarily for holding, asset protection, and international trading. Freezones in UAQ Umm Al-Quwain Free Zone Frequently Asked Questions Here are answers to the most frequently asked questions. Can foreign nationals own 100% of a company in Dubai? Yes, a foreign national is eligible for 100% ownership of a free zone/Offshore and In Mainland  specific business company in Dubai, and across the UAE. Can foreign nationals register a company in Dubai? Yes, foreign nationals can easily register a business in Dubai. Professional assistance is necessary for aspects like licensing, visa issuance, and bank account opening, and a business setup consultant in Dubai can assist you with this. Can I start a business in Dubai or UAE without an office? Yes, Dubai/UAE  allow you to register and own businesses without the need for a physical office space. Can I secure visas for my dependents through a free zone business in the UAE? Yes, you can easily sponsor your spouse and children through a free zone business license.You are Eligible for Family Visa What are the different types of business licenses issued in UAE? The three(3) most prominent licenses available in UAE are professional, commercial, and industrial.  Professional license: A professional license permits offering specialized services such as consultancy, accounting, legal advisory, and so on. This license is required for skilled professionals looking to set up businesses and deliver services based on their intellectual or artistic capability. Commercial license: A commercial license is granted for businesses involved in trading activities and is required to legally conduct activities such as import and export of goods within and outside the UAE.  Industrial license: An industrial license is needed for businesses conducting activities such as manufacturing, packaging, segregation, etc. What documents are required to start a free zone business in UAEi? The following documents are required from the shareholder(s) and manager(s) for free zone company formation : Passport copy Latest UAE entry stamp/visit visa copy Residence visa copy and Emirates ID (for UAE residents) Address proof Passport-size photo Please note that in addition to these, you may be required to submit additional documents. Consulting with a Tycoon business setup company will help you gain more information in this regard. Business Setup Corporate PRO VISA Services Business Consulting Attestation Call Us 24/7 971 56 993 1404/02 OR Get Your Consultation FREE! Request Appointment

Umm Al Quwain
Golden Gate

Everything you need to know about Golden Visa

Abu Dhabi, Ajman, Dubai, Fujairah, Ras Al Khaimah, Sharjah, Umm Al Quwain / / / , , , , ,

Everything you need to know about Golden Visa All VISA Related Services: Contact Tycoon Documents, Dubai Check Eligibility Contact us What Is the UAE Golden Visa? In 2019, the United Arab Emirates launched a new visa system for long-term visa holders. This is known as a Golden visa. This Golden Visa allows foreigners to live, work and study in the United Arab Emirates. The 2019 amendment hopes to attract new foreign residents, especially to Dubai. Read on to learn about the eligibility criteria and advantages of the UAE Golden Visa. The UAE’s ‘Golden visa’ is a long-term residence visa which enables foreign talents to live, work or study in the UAE while enjoying exclusive benefits which include: an entry visa for six months with multiple entries to proceed with residence issuance a long-term, renewable residence visa valid for 5 or 10 years the privilege of not needing a sponsor the ability to stay outside the UAE for more than the usual period of six months in order to keep their residence visa valid the ability to sponsor their family members, including spouses and children regardless of their ages the ability to sponsor unlimited number of domestic helpers the permit for family members to stay in the UAE until the end of their permit duration, if the primary holder of the Golden visa passes away. UAE Golden Visa Category   Investors Public investmentReal estate investment Entrepreneurs Owner of a registered startupApproved idea of a startupFounder of a startup that was sold outside or inside the UAE Exceptional talents Culture & ArtInventors & InnovatorsSportsDigital technology Scientists & Professionals ScientistsChief Executives & Senior OfficialsScience ProfessionalsEngineering ProfessionalsHealth ProfessionalsEducation ProfessionalsBusiness and Administration ProfessionalsInformation Technology ProfessionalsLegal, Social, and Cultural Professionals Outstanding Students & Graduates Best performing secondary school studentsBest graduates from UAE universitiesGraduates of the best 100 universities worldwide Humanitarian Pioneers Renowned members of international and regional organizations and associations of public benefitRecipients of awards in humanitarian fieldsVolunteers and sponsors of humanitarian efforts Frontline Heroes Frontline workers that show extraordinary efforts in crises, such as pandemics Advantages of Having a UAE Golden Visa You can work, reside, travel, and invest in the UAE You will hold a long-term renewable visa valid for 10 years You can sponsor yourself and your family members regardless of their ages You can sponsor unlimited number of domestic helpers You will be allowed for multiple entries followed by the issuance of residency permits You can stay outside of the UAE for any duration without having to nullify your Golden Visa. Allows your family to stay within the UAE until the end of the duration of the Golden Visa even in the event of the primary visa holder’s death. All foreign nationals holding a Golden Visa and having driving license from their home country can now take driver’s test without extra lessons Additionally, if the Golden Visa holders have a license from one of 32 approved countries, including the US, UK, Australia, Italy, Saudi Arabia, South Africa, Spain, New Zealand, Qatar, Kuwait, and Ireland, they will automatically be eligible for a UAE driver’s license You can have 100% ownership of any business started and operated in the UAE. All Golden Visa holders will be gifted the coveted Esaad Privilege Card for FREE Golden visa requirements Investors in public investments If you invest in an investment fund, you may be granted a Golden Visa for a period of 10 years without a sponsor, subject to the: submission of a letter from an investment fund accredited in the UAE stating that the investor has a deposit of AED two million, or submission of a valid commercial licence or industrial licence and a memorandum of association stating that the investor’s capital is not less than AED two million submission of a letter from Federal Tax Authority stating that the investor pays the government no less than AED 250,000 (two hundred and fifty thousand) annually.   Additionally, you must: own the invested capital completely; it must not be a loan and provide proof of medical insurance for himself and his family (if any). Real estate investors If you own a property or a group of properties, you may be granted a Golden visa for a period of 5 years, renewable on the same conditions and without a sponsor subject to the: provision of a letter from the land department of the respective emirate stating that he owns one or more properties whose value is not less than 2 million dirhams purchase of a property with a loan from specific local banks approved by the competent local entity. Entrepreneurs If you are an entrepreneur, you may get a Golden visa for a period of 5 years, if you own an economic project of a technical or future nature based on risk & innovation. In addition, you must have an approval letter from each of the following: an auditor in the UAE stating that the project value is not less than 500,000 dirhams the authorities in the emirate stating that the project is of a technical or future nature an accredited business incubator in the UAE to establish the proposed activity in the country Outstanding specialised talents Outstanding specialised talents include: doctors scientists creative people of culture and art inventors executives specialists in scientific fields athletes doctoral degree holders and specialists in the fields of engineering and science.   Subjects relating to engineering and science include: epidemiology and viruses artificial intelligence big data computer engineering electronic engineering software engineering electrical engineering genetics and biotechnology engineering.   If you have an outstanding specialised talent, you may get a Golden visa for 10 years after meeting the requirements mentioned below for each category: Doctors and scientists an approval Letter from Ministry of Health and Prevention in the UAE to practice the profession of medicine (for doctors) a letter of recommendation from Emirates Council of Scientists or a letter from Secretariat of the Mohammed bin Rashid Medal for Scientific Excellence stating that the applicant has been awarded the Medal of Scientific Excellence (for scientists).   Inventors

Abu Dhabi, Ajman, Dubai, Fujairah, Ras Al Khaimah, Sharjah, Umm Al Quwain
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2024 Guide : How to Start a Business in Sharjah

Abu Dhabi / / / , , , , , , , , , , , ,

Business Setup in Sharjah #BeABusinessTycoon Apply Online Contact us How to Start an Business in Sharjah ?,  Here’s Your Guide     Business Setup in Sharjah offers a diverse range of choices for investors seeking to establish themselves in the Emirate, including licensing authorities and free zones.From adaptable alternatives for first-time start-ups to more intricate frameworks for larger enterprises, Sharjah accommodates to all desires and ambitions. Sharjah is located only 20 minutes from Dubai, and well-connected by public transport. Sharjah has its own international airport as well as three seaports, and in addition hosts a third of all manufacturing activity in the United Arab Emirates.   What are the Types of Business Entities in Sharjah? Sharjah is one of the tax haven emirates of the UAE and business setup in Sharjah mainland or freezone is beneficial for foreigners. The type of business entities in Sharjah include: Limited Liability Company: This type of business requires partners not more than 50, but less than 2. It is the most common type among investors as the liability of the partner is limited to the investment in the company Partnership Company: This includes partnering between 2 or more individuals, where liability is limited to the extent of their shares to the company’s liabilities. Local Service Agent: This type of company is generally managed by a single person. And if the individual does not have a UAE or GCC national, then it must be backed by a local sponsor, who is a UAE national. Public/Private Shareholding Company: A public shareholding company has the feature where the share capital is equally divided into tradable shares. A private shareholding company is subject to rules of public joint stock companies. 3 Types of Business Jurisdictions in UAE In the United Arab Emirates, a company can be set up in three jurisdictions: Freezone, Mainland, and Offshore. The companies established in these jurisdictions are supposed to comply with the predetermined set of rules and regulations. Mainland Freezone offshore Mainland companies are licensed by the Department of Economic Development (DED) of the respective emirate. They can operate both within and outside the UAE. Local Market Access: Mainland companies can do business anywhere in the UAE, including the local market. Office Location: Flexibility to open an office anywhere in the UAE. Business Activities: No restrictions on the types of business activities. Government Contracts: Eligibility to bid for government projects and contracts. Local Sponsorship : Not Mandatory for all Business Freezone companies are established in designated areas that offer specific economic benefits. Full Ownership: 100% foreign ownership is allowed. Tax Benefits: Often enjoy tax exemptions, such as no personal or corporate income taxes. Repatriation: 100% repatriation of capital and profits. Simplified Procedures: Easier and faster company setup procedures. Customs Duty Benefits: Exemption from import and export duties within the freezone. Specific Activities: Some freezones are specialized and restrict the type of business activities. Offshore companies are set up for international business operations outside the UAE. Full Ownership: 100% foreign ownership is allowed. Privacy: High level of confidentiality and privacy. Tax Benefits: No taxes on income earned outside the UAE. Cost-Effective: Lower setup and operating costs. No Physical Presence: Cannot have a physical office in the UAE or conduct business within the UAE. Restrictions: Limited to international business activities, primarily for holding, asset protection, and international trading. List of Free Zones in Sharjah Dubai has Most Freezones in UAE,For Freezones in Dubai click here. FREEZONE Sharjah Publishing City Hamriyah Free Zone Sharjah Media City – Shams Sharjah Airport International Free Zone The Sharjah Research, Technology, and Innovation Park Sharjah Oasis for Technology and Innovation (SOTI) Sharjah Healthcare City Frequently Asked Questions Here are answers to the most frequently asked questions. Can foreign nationals own 100% of a company in Dubai? Yes, a foreign national is eligible for 100% ownership of a free zone/Offshore and In Mainland  specific business company in  UAE. Can foreign nationals register a company in UAE ? Yes, foreign nationals can easily register a business in UAE. Professional assistance is necessary for aspects like licensing, visa issuance, and bank account opening, and a business setup consultant in Dubai can assist you with this. Can I start a business in Dubai or UAE without an office? Yes, Dubai/UAE  allow you to register and own businesses without the need for a physical office space. Can I secure visas for my dependents through a free zone business in the UAE? Yes, you can easily sponsor your spouse and children through a free zone business license.You are Eligible for Family Visa What are the different types of business licenses issued in UAE? The three(3) most prominent licenses available in UAE are professional, commercial, and industrial.  Professional license: A professional license permits offering specialized services such as consultancy, accounting, legal advisory, and so on. This license is required for skilled professionals looking to set up businesses and deliver services based on their intellectual or artistic capability. Commercial license: A commercial license is granted for businesses involved in trading activities and is required to legally conduct activities such as import and export of goods within and outside the UAE.  Industrial license: An industrial license is needed for businesses conducting activities such as manufacturing, packaging, segregation, etc. What documents are required to start a free zone business in UAE? The following documents are required from the shareholder(s) and manager(s) for free zone company formation : Passport copy Latest UAE entry stamp/visit visa copy Residence visa copy and Emirates ID (for UAE residents) Address proof Passport-size photo Please note that in addition to these, you may be required to submit additional documents. Consulting with a Tycoon business setup company will help you gain more information in this regard. Business Setup Corporate PRO VISA Services Business Consulting Attestation Call Us 24/7 971 56 993 1404/02 OR Get Your Consultation FREE! Request Appointment

Abu Dhabi
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