In the UAE, we specialize in: company registration and sale of ready-made companies, account opening, and ancillary services.
Dear reader, the purpose of this publication is to offer business representatives the opportunity to establish a company in the UAE, whether it is a free zone company, offshore company, or IBC, along with a bank account.
We have strong collaborations with free zones and banks in the United Arab Emirates and observe a significant influx of clients interested in incorporating a company in the UAE with a bank account.
Our clients typically come from Ukraine, Russia, Kazakhstan, Moldova, Armenia, Belarus, and other CIS countries, but we also frequently assist representatives from the USA, Canada, the UAE, and EU countries.
Companies in the UAE offer attractive benefits with the following features:
– 100% business ownership.
– guaranteed 50-year tax holiday on income tax.
– purpose-built infrastructure available on a lease basis.
– comprehensive service for handling all documentation, including immigration, registration, and licensing.
– full foreign ownership of companies.
– no taxation (no personal income tax or corporate taxes).
– no restrictions on capital repatriation, not even the simplest ones.
– no import/export duties.
– well-organized and highly functional online government service system.
And also:
– flexible and straightforward office solutions for our clients.
– infrastructure in a prestigious, world-class jurisdiction.
– various trading platforms.
– your bank account and company are located in the same country.
– absence of beneficiary information that is often maintained in other countries, with professional management services (fiduciary) for the company.
– one of the most stable economies in the world, ranked second globally for economic security (according to WEF 2017).
– fixed exchange rate of 1 USD = 3.675 AED.
– promising, stable country with a transparent economy and excellent trade relations.
– very easy access to TAX.
CRS & AEIO – a unified reporting and automatic information exchange system has been signed by the UAE. However, it is important to note that this does not apply to companies that are residents of the UAE and owners who hold a visa in the United Arab Emirates.
– ease of doing business.
– jurisdiction stability.
– the UAE has double taxation avoidance agreements with over 100 countries.
– reliable banking services (major UAE banks are among the top 100 banks globally).
– world-class reputation.
– company registration within 2 hours.
– independent banking system with the second most secure economy globally and banking branches worldwide.
– ranked number 1 in business efficiency based on the IMD World Competitiveness ranking.
– banks located in the same country as the registered company/operations (important for currency control).
– unlimited transactions in terms of quantity and volume.
– absence of nominee structures = collection of any information about third-party organizations not reflected in the company structure or registered with banks.
– closed registry.
– 100% independence and ownership (free zone/offshore).
– 0% income taxes, capital repatriation.
– prime location for increasing international trade.
1. We operate in B2B, meaning the client is yours, and we handle the work.
2. We work directly with clients.
3. We manage the registration of licenses, residency visas, and bank accounts.
4. Quality and speed of information provided. We handle the support work for you, and we assist you in convincing your client by providing necessary information or other types of support.
5. With over 30 years of market experience, we organize Road Shows for UAE Free Zones.
6. We also assist with most ancillary requests (tax residency, etc.), providing information including comparisons of various free zones and changes, etc.
Generally, both we and our clients prefer the AMC (Ajman Media City) zone. Of course, there are exceptions, and in such cases, we tailor our approach to the specific needs and requests of the client.
We also operate in Abu Dhabi | Bahrain | Dubai.
The company registration procedure in the UAE is one of the simplest. The client only needs to provide:
– company name
– copy of passport
– photograph
The company is registered within 1 day. Documents can be sent to the client via courier, or they can be picked up in the UAE when opening the account.
With the introduction of the new directive in June 2019, which requires all UAE companies to comply with substance requirements—specifically, having a real office in the UAE rather than just a virtual lease agreement, as offered by many free zones—the process of obtaining a visa has become especially relevant. To confirm that a client has a physical presence and business in the UAE, it is not only necessary to have a real office with a nameplate on the door (notably, all packages offered by AMC include a real office with a personal nameplate, ensuring that all companies registered in AMC comply with the new directive from the moment of registration), but also a residency visa, which confirms that the management occurs from within the UAE. Additionally, when a client opens an account for their visa, it aligns with the automatic exchange of tax information.
The entire visa application process takes 3 weeks:
Week 1: Obtain the Establishment Card.
Week 2: Submit documents for the Entry Permit, which is valid for 2 months. Based on this permit, the client enters the country and obtains their visa.
Week 3: Obtain the residency visa (Emirates ID). To obtain the visa, the client needs to visit the UAE for 2 weeks if it’s a standard visa or 1 week if it’s an expedited visa.
The client will need to come to the UAE for two weeks for a standard visa or one week for an expedited visa.
We successfully assist with opening accounts at the following banks:
FAB, RAKBANK, NOOR, ENBD, EIB, Mashreq, UAB, ADCB.
1. The client provides a complete set of documents, which includes:
– company charter documents, where the client is a shareholder (not a beneficiary). It is important that the company is not from a classic offshore jurisdiction like Seychelles or BVI.
– a bank statement for the company for the last 6 months.
– documents supporting 5 incoming and outgoing transactions according to the statement. If the activity involves real goods movement, logistics documents are the best proof.
– a copy of a utility bill in the director’s name.
– a resume.
– if possible, provide contracts with companies registered in the USA, as this significantly facilitates the process.
– if possible, also provide contracts with companies registered in the UAE.
– complete a questionnaire about the business activity.
2. Based on the documents and information provided by the client, we coordinate the client’s candidacy and their business activity with the bank. After that, the client travels to the UAE for a meeting with the bank representative. It should be noted that after the meeting, the bank will ask additional questions, and it is crucial for the client to respond promptly. Otherwise, the timelines may significantly increase, potentially requiring new forms to be signed and a new meeting with the bank.
3. The bank issues account management tools and sends them to the client electronically (if tokens are electronic) or via courier mail.
The most common package includes a company with 1 visa and a bank account.
This package consists of the following services:
– company registration in AMC (Ajman Media City) Free Zone with a quota for 1 visa.
– visa processing without expedited service (client will need to visit the UAE for two weeks).
– connection to the e-channel personal account (mandatory for visa processing).
– opening a corporate bank account.
The price for this package is $12,800 USD.
Additional (optional) services:
– personal bank account opening: $2,000 USD.
– expedited visa processing: $4,000 USD (client will need to visit the UAE for 5 working days).
– tenancy contract for 1 year: $4,000 USD. This may be required by several banks. Currently, two major banks, ENBD and FAB, require a tenancy contract in the UAE for the client.
– tax residency certificate: $4,000 USD.
Starting from January 2018, VAT of 5% has been introduced in the UAE. VAT registration is required if a company conducts business in the UAE or with UAE residents, and if the company’s turnover exceeds AED 375,000 (USD 102,000). Organizations registered in the UAE are required to submit quarterly VAT reports. We assist with this as well.
The cost of services is as follows:
– VAT registration: $700 USD
– quarterly VAT reporting: $880 USD
Fill out and sign the form and declaration attached (we will send it if we decide to cooperate). The original signed documents need to be sent to our office.
The company must not have any outstanding debts. The company must provide a Certificate of Good Standing.
Clarify the reason for transferring the company to the new agent.
The full set of corporate documents, all resolutions, and all company orders must also be sent in original to our office.
Please provide a letter from the current registration agent stating that they do not object to the transfer of the company.
We will prepare the resolution for changing the registration agent and address, which must be signed by the shareholder.
Provide a resolution indicating where all financial documents of the company are kept, and who is responsible for the financial documents.
Please confirm whether the previous agent has filed information about the beneficiary. If not, we will do it, and the cost is USD 250/-.
Service extension – $350.
Registration address and agent service – $2,400.
Transfer fee – US$ 1,300/-.
Change of registration agent – $800/-.
Government fee – $680 (will be increased to USD 749 from January 1, 2020).
Compliance – $375.
Please note that if the company is not renewed within 3 months from the renewal date, a fine of USD 150 will be imposed, and then the amount will increase monthly.
The transfer process will take approximately 2 weeks from the time the documents are submitted to RAK.
As you can see, if you prioritize quality, these are not the prices often used to lure clients by various companies whose main advantage is only the price. We could also offer everything very cheaply, but then we wouldn’t be able to guarantee the opening of a bank account, even if the client meets all the bank’s requirements. The sticking point is the visa, which could be either a tourist visa or a resident visa. Banks prefer the latter and are more willing to work respectfully with clients who obtain it. This is precisely why our offer only includes a resident visa, as we don’t want our clients to waste time on multiple trips to the UAE just to open an account after several attempts, even if they initially obtained a cheap tourist visa at the start of our cooperation. We usually open accounts on the first attempt unless the client provides false information. We do not recommend getting a tourist visa if you intend to open a bank account in the UAE!
We are always happy to assist you!