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Food Truck Business in Dubai, business setup dubai, corpin consultant
Blogs

Setting Up a Food Truck Business In Dubai

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Setting up a Food Truck Business in Dubai According to statistics, the overall revenue stream from food trucks reached up to $985 million in 2019. Dubai is one of the best places to set up a food truck business. It requires less capital when compared to a restaurant in a fixed location in this area. Food trucks provide you the chance to go out and find your market. It is also flexible and less risky as you are not bound to leases or long-term contracts. In this article, we will guide you about each step for setting up your own food truck business in Dubai. 1. Select the Right Vehicle Depending on the menu, you require a commercial vehicle that is at least 18-feet long. It is recommended to opt for a light commercial vehicle in the initial stage rather than going for a big size heavy commercial vehicle. Choose a used food truck rather than going for a brand new one as it helps you to save money. It can be modified and designed depending upon the requirement from bodybuilder shops. 2. Select the Right Location for your Food Truck Business Always choose a location that is not so overcrowded with food trucks that is similar to the cuisine you are offering. Make sure to choose a place where there are plenty of footfalls and does not obstruct traffic. 3. Select the Right Kitchen Equipment and Raw Materials When it comes to purchasing kitchen equipment, it is advised to purchase new equipment as it comes with a one-year warranty. This helps to avoid all unwanted maintenance costs of the equipment. 4. Obtain Necessary Licenses and Permits for Food Truck Business in Dubai When it comes to food trucks, Dubai ensures high standards and it can be a complex process. One needs to obtain approvals from various authorities such as Dubai Municipality, the Roads and Transport Authority (RTA), the Department of Economic Development (DED), and the Dubai Electricity and Water Authority (DEWA). Firstly, submit your detailed business plan to the DED and the Dubai Municipality. The plan should be approved by both the bodies. The next step is to find a quality kitchen for your use or find a caterer for outsourcing your food preparation. After this, you can start the design and layout of your truck. Both the kitchen and the truck must be approved by the concerned authorities for safety and hygiene. Only with all these approvals, you can find your location and start trading. 5. Hire your staff You can start a food truck business with a maximum of two chefs and one helper. If you are planning to go for a delivery model, it is better to hire two more delivery boys or outsource that to a third-party logistics service. As we mentioned before, setting up a food truck business is a complex process as one needs to get multiple approvals and spend a lot of time in documentation. We at Corpin Consultants can make the entire process less complicated for you. Be it obtaining the licenses, applying for visas, or opening a corporate bank account, count on us.[/vc_column_text][/vc_column][/vc_row]

Representative Office in UAE
Blogs

All You Need to Know About Setting up a Representative Office in UAE

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All You Need to Know About Setting up a Representative Office in the UAE The representative office of a company is an extension of the parent company in another country. By opening a representative office in the UAE, a foreign company can enjoy 100% ownership. Representative offices are not allowed to make a profit in the UAE and all jobs will be outsourced to the parent company. It is permitted to do only marketing and promotion of its parent company. Advantages of setting up a representative office in UAE ● Representative offices have reduced tax liabilities and 0% corporate tax ● The setup cost is also comparatively very low ● Better scope of global expansion and building social network ● The setup process is quick and time-saving ● No minimum share capital required Documents Required ● Certificate of Incorporation or Trade License ● An attested board of resolution ● An attested Power of Attorney ● Memorandum of Association (MOA) ● Articles of Association ● Local Agent Agreement ● Passport copies of investor Steps for setting up a representative office in UAE Find a trusted local service agent – For setting up a representative office in the UAE, it is mandatory to have a UAE national as your local service agent. Trade Name reservation – Reserve a trade name from the Department of Economic Development (DED) Get initial approval – After submitting all necessary documentation such as passport copies of shareholders, company papers, the Department of Economic Development (DED) provides initial approval for setting up a representative office in the UAE. Get approval from the Ministry of Economy – The UAE Ministry of Economy provides an application asking the details of the parent company- the nature of the business, head office address, share allotment, etc. Obtain DED’s Final License – Submit the approval from the Ministry of Economy to the Department of Economic Development (DED) along with an added documentation depending on the nature of the representative office. The DED will then issue the Final license. If you need any help for setting up a representative office in Dubai, feel free to contact us, our expert team will provide you comprehensive guidance at every stage and help you in getting necessary approvals and attestations.

Notarization of Power of Attorneys
Blogs

All You Need To Know About Notarization of Power of Attorneys in Dubai

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All You Need To Know About Notarization of Power of Attorneys in Dubai A power of attorney is a document that provides an individual or an organization the authority to represent someone in terms of property or ownership during their absence or unavailability. A power of attorney needs a mandatory notarization by a third party, the Notary Public in Dubai, who reviews the document before attestation. TYPES OF POWER OF ATTORNEYS General Power Of Attorney A general power of attorney authorizes an agent to act on behalf of the principal in a variety of situations. The agent will be permitted to perform numerous legal activities such as bank transactions, tax return filing, contracts and dealing with property purchasing and selling. Special Power Of Attorney Special Power of Attorney is provided to an agent for handling a special affair on behalf of the principal. The principal has to clearly mention what all actions and authorities they may grant to the agent in the power of attorney agreement. Agents with Special Power of Attorney will be able to perform only the tasks that are mentioned in this document. Lasting Power Of Attorney The Lasting Power of Attorney is available only in Dubai. It is for those who are facing health-related issues that may make them incapable of making decisions in future. Principals can make arrangements to transfer the rights to someone trustworthy for making decisions in the future on their behalf. Notarization of Power of Attorneys in Dubai To receive a power of attorney in Dubai, the principal needs to submit the necessary documents and a POA form. The Power of Attorney document contains details regarding the concerned activity along with the agent’s responsibilities and powers. An attestation fee needs to be paid along with the documents for reviewing by the notary public in Dubai. After performing a thorough review, the submitted application will be attested by the notary public in Dubai. Documents required for notarizing a power of attorney in Dubai Principal’s original Emirates ID card and a copy Principal’s original passport and a copy Notarization of Power of attorneys along with three copies All documents need to be made in Arabic. If they are in some other language not Arabic, the principal can file the translations along with the other documents. A principal may also need to submit additional documents depending on each individual case. For instance, those who are planning to give POA for a real estate matter need to submit ownership documents to prove the ownership of the property. If you need any assistance in the notarization of a power of attorney in Dubai, Corpin Consultants can guide you through the entire process and ensure you get a hassle-free signing experience. Contact us today for a free consultation.[/vc_column_text][/vc_column][/vc_row]

Home-based business ideas in Dubai
Blogs

Best Home-Based Business Ideas in Dubai

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Best Home-Based Business Ideas in Dubai Dubai is a welcoming land for entrepreneurs with endless opportunities. Even if one has limited resources for setting up an office here, it is perfectly fine. Thanks to the internet, many home-based business ideas in Dubai are flourishing during this unprecedented time. If you are planning to set up your own home business in Dubai, we have listed below a few trending ideas. E-commerce E-commerce is one of the booming sectors in the UAE post the pandemic situation. According to a report by Kearney Middle East, e-commerce in the Gulf region will grow from USD 29 billion in 2021 to USD 50 billion by the end of 2025. An e-commerce business allows you to sell your products or services online. You can also sell products directly from another supplier without purchasing a stock upfront through affiliate marketing or drop shipping. For starting an ecommerce business, all you need is a website, domain name, web hosting service, merchant services provider to accept payments (if required) and a marketing strategy to promote your business online. These factors makes it one of the best Home-Based Business Ideas in Dubai to start now. Social Media Influencer Social media influencer has recently transformed into a serious profession with many aspirants earning good from promoting products. If you are a social media expert with a large fan base, you can become a successful social media influencer. According to a report, many UAE influencers earn an average of USD 1,000 to USD 5,000 for a single post. This market has grown to such an extent that the UAE National Media Council (NMC) recently introduced a specific influencer license. These data shows that being Social Media Influencer is another best Home-Based Business Ideas in Dubai to begin with. Online Coaching If you have knowledge and expertise in any subject, you can make best use of it by becoming an online coach. The choices are unlimited, you can teach any subject right from yoga, dance, fitness, nutrition, or cooking and turn into an income-generating business. As an online coach, you can work from the comforts of your home and connect with clients across the globe. Freelancing Freelancing is another rewarding business idea that you can carry out remotely. You can provide freelancing services for web development, graphic designing, accounting, marketing, and more. You may come across several website platforms where you can find freelance work. A freelance permit is required for practicing freelance business in the UAE.   If you are planning to set up your business in Dubai, we at Corpin Consultants provide complete business incorporation services. For any assistance on work permits or license registrations, contact us for a free consultation.

Foreign Ownership for Mainland Companies
News

100% Foreign Ownership for Mainland Companies in the UAE

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100% Foreign Ownership for Mainland Companies in the UAE Here is an exciting news for all entrepreneurs who wish to start their business journey in the UAE mainland! An amendment to the Commercial Companies Law (CCL) now permits 100% foreign ownership for mainland companies in UAE. This new law is effective from 1 June 2021—subject to obtaining specific approval from the relevant authorities in each emirate. Currently, the minimum ownership percentage which an expat can have is 51% and 49 % to be held by a local sponsor. As a result, as companies set up in UAE FTZs often had to face many challenges. For instance, they were permitted to carry out only those activities for which they had license—either within the FTZ where they were registered or outside the UAE (subject to the laws of the countries concerned). However, this new amendment will give foreign investors the freedom to set up their fully owned companies in the mainland and flexibility to carry out business operations. Reasons for Implementing Full Foreign Ownership for Mainland Companies Law By relaxing the existing ownership restrictions, the UAE government hopes to attract more foreign investors, businesses, startups, and top talent from across the globe and as positioning the economy in a better position when it prepares for post-Covid recovery. Creating an investor-friendly legislative environment for business set up in the UAE Enabling ease of doing business Improving the country’s economy Preparing for the future by boosting investment and commercial opportunities Safeguarding the economy against possible disruptions taking place in the global economy Addressing the emerging needs of the UAE business community Enabling the country to attract expat investors, businesses/conglomerates/startups, etc. As a result of this amendment, businesses that are already established in free zones can now establish themselves onshore. All current and previously licensed businesses in the UAE can now amend their statuses in accordance with this latest commercial companies law. Are you an aspiring entrepreneur who is planning to establish your business in the UAE mainland? Corpin Consultants can assist you in company registration, license renewals, legal documentation, bank account opening and more. Contact us for more information.[/vc_column_text][/vc_column][/vc_row]

Blogs, Business

How to establish an IT business in UAE

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How to Establish an IT Business in UAE UAE is a promising destination for IT business companies as the incorporation process is quite simple in this country. Also, the UAE Government has been developing multiple plans to make the country one of the smartest economies in the world for all aspects. These initiatives have increased the demand of IT sector and IT professionals to a great extent. Factors to Consider before Establishing an IT Business in UAE A foreign citizen must decide if the company will be set up in the mainland regions or in one of the free zones. Previously, for establishing a company in the mainland, it was mandatory to have a local sponsor who would possess 51% of the shares. Whereas, a free zone company does not require a local sponsor. Recently, the Ministry of Economy has passed a new commercial Company law with regards to the 100% Foreign Ownership. According to which, companies can apply for Business License without the requirement of UAE National as the partner of the company. When it comes to IT companies that are specialized in software development and installation, a foreign national can now enjoy 100% ownership. These companies require a local service agent for license application; however, they will not hold any shares in the company. For companies that specialize in Software products and equipment trading, expats can enjoy 100% ownership without the requirement of a local service agent. Select the legal entity under which the company will operate. The UAE provides the flexibility to register the IT companies as professional firms with full ownership, as well as a sole proprietorship. Start the company formation procedure by reserving a trade name and choosing Articles of Association. The company registration process will be completed with the Trade Register in Dubai or the free zone authority, depending on the area where the business will operate. All companies have to mandatorily register for VAT The license will be issued by the Dubai Companies Register or by the free zone authority of the respective economic zone. Documents Required for Establishing an IT Company in Dubai Listed below are the documents that need to be submitted to the Department of Economic Development (DED): Passport copies of the company owner and partners Proof of payment of initial approval fee No Objection Certificate from the sponsors Partnership agreement to be signed in front of a notary An individual investor should pay AED 10,000, whereas partners who possess a professional license need AED 20,000 as a security deposit. The company needs to have a registered office, for which the owner might need a tenancy contract The company formation experts at Corpin Consultants can help you out with establishing an IT company in the UAE. Contact us for a free consultation today.[/vc_column_text][/vc_column][/vc_row]

Blogs, Business

How to Set Up a Delivery Service Business in Dubai?

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How to Set Up a Delivery Service Business in Dubai? Around two-thirds of the UAE population uses a food service app when compared to other countries of the world. This shows there is an immense scope of food service business in Dubai. You don’t have to necessarily own a restaurant or a food joint for this business setup. Your delivery service can collect food from restaurants and deliver it. If you are equipped with the right skills and knowledge, setting up a food delivery service in Dubai is not rocket science. We at Corpin Consultants have compiled a step-by-step guide for helping you in setting up a delivery service business in Dubai: Decide the type of business First, you need to decide the type of your business. Make sure that your chosen activities are in line with the list of economic activities mentioned in the Department of Economic Development (DED). Select a company name Make sure that your chosen name is available for registering and follows the conventional norms of business naming in the UAE, such as avoiding offensive or blasphemous language. Choose the jurisdiction Select the location for your business, for e.g., Mainland Dubai or free zones. Free zones are considered to be ideal for economical license packages, tax exemptions, and a swift company setup process. Apply for a trade license The following are mandatory for license application: A duly filled application form (free of errors) Passport copy of the proposed owner or owners Two colour passport size photos If you are planning to set up a new delivery business service in Dubai, from visa and license applications to open a corporate bank account, Corpin Consultants has got you covered. We have worked with clients across the globe, successfully setting up their businesses in their chosen jurisdiction. Contact us at +971 55 843 2911 or info@corpinconsultants.com for a free consultation today.

Blogs, Business Consultancy

Setting Up a Company in Sharjah Airport International Free (SAIF) Zone

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Setting Up a Company in Sharjah Airport International Free Zone Established in 1996, Sharjah Airport International Free (SAIF) Zone is one of the oldest UAE zones located next to Sharjah International Airport. With a well-developed infrastructure and strategic location makes company setup in SAIF Zone ideal for setting up trading, manufacturing and logistics businesses. It offers ready-to-move facilities such as fully air-conditioned and furnished executive suites with reception, pre-built warehouses in four sizes with adjacent office space and lease land for unrestricted private development, bunkers, container parking area and temporary storage space. Categories of Licenses Available in SAIF ZONE Trading License – This license is issued to businesses concerned with industrial and manufacturing activities. Commercial License – Import, export, distribution, consolidation, storage, or warehousing of goods are specified in the license. Also, the maximum permitted limit is three similar product lines or company activities. Service License – Allows the holder to carry out activities specified in the license only within the SAIF zone. Industrial License – This license permits the import of raw materials, fabrication, processing, assembling, packaging, and export of finished goods. Benefits of Setting up a Business in SAIF Zone No corporate or personal income tax Fast and affordable licensing including 4-hour licensing service option. No need for share capital Easy access to seaports and airports 100% repatriation of capital and profits 100% foreign ownership permitted without any requirement for partners A wide range of options available for all types of businesses: warehouses, single offices, manufacturing units, and industrial plots. Company Setup in SAIF Zone Company formation in SAIF Zone can be done by owners or by Power of Attorney holders. License will be issued quickly on the day of application. Documents Required for Company Incorporation Passport Passport size photo Residential address, contact number and email ID of the owner Documents Issued by SAIF after Company Registration include: Certificate of Incorporation License Memorandum and Articles of Association Investment Service Agreement Share Certificate Lease agreement Corpin Consultants can assist you in the entire process of company incorporation in SAIF zone. Our experts handle the entire Banking, Visa, Legal, and Licensing formalities, so you can focus on the other aspects of your business.[/vc_column_text][/vc_column][/vc_row]

Blogs

A Quick Guide to Renew Your Trade License in the UAE

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A Quick Guide to Renew Your Trade License in the UAE Every business in the UAE needs renewal of their Trade license every year as each license issuing authority issues it for just one year. Therefore, license renewal is necessary for avoiding legal complications such as investor visa suspensions, bank account holdups and no renewals on employee visa. We have prepared a quick guide for helping you to renew your business license in the UAE. The renewal process includes submission of legal documents and paying renewal fee to the Department of Economic Development (for Dubai mainland LLC (Limited Liability company) firms) or the respective Free Zone Authority (for free zone companies). Trade license can be renewed through Authorized Service Centers or with the help of authorized business licensing service providers. Documents required for trade license renewal: Listed below are the documents required for renewing your trade license renewal in the UAE: Typed application Form Tenancy Contract copy and copy of EJARI Registration Certificate or Co- working space Current Business/Trade License Copy Copies of Passports of all business partners Important Steps of Trade License Renewal Step 1: Ensure that tenancy contract of your company is valid for a period of at least one month from the date of application. It is an important step before submitting the trade license renewal application to the DED/Free Zone. Step 2: Submit your application with all necessary documents at a DED service centre/Free Zone authority. Step 3: Collect your payment voucher from the Authority and make your payment. After the payment is made, the renewed license will be printed and ready for you to collect. If all documents given have accurate information, you will receive your payment voucher within 1-2 working days. Once you complete the payment, the renewed license will be printed and ready for collection. If the documents given have accurate information, you will receive your payment voucher within three to four working days. Trade License renewal is mandatory for business owners in the UAE and should be done yearly. If you fail to do the same, it may not only lead to unwanted financial penalties, but also other displeasing consequences, some of which may even end up in the conclusion of your business activities. It is better to hire a professional agency that will assist you with the process and save you a lot of time and hassle. Corpin Consultants have an expert time who can assist you with the entire process of documentation and application of trade license renewal. Contact us today for a free consultation![/vc_column_text][/vc_column][/vc_row]

Blogs, Business, Business Consultancy

Ras Al Khaimah Offshore Company Formation Tips

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Ras Al Khaimah Offshore Company Formation Tips Ras Al Khaimah has one of the most developed and well-regulated financial sectors in the world. Here, business owners can get 100% foreign ownership of an international company. The place has a world-class infrastructure with easy access to international airports. The main advantage of RAK international companies is that the corporate income taxation at this place is 0%. Ras Al Khaimah offshore company formation is also a whitelisted offshore jurisdiction that meets the standards of international regulations. There are certain factors to keep in mind before forming a Ras Al Khaimah Offshore Company, which are discussed below:  Conditions for Selecting a RAK Offshore Company Name The name of a newly incorporated company in Ras Al Khaimah has to meet the following conditions: Should not contain more than one hundred permitted characters. A limited company’s name should end with the words “Limited”, “Incorporated” or their abbreviations “Ltd”, “Inc”. Should not be similar to names of existing companies or names that appeared in the reserved name list of the Registrar. Should not contain the restricted list of words such as bank, council, credit, fund, forex Should not be offensive or questioning public policy or public interest. Documents Required for Ras Al Khaimah Offshore Company Formation For individual director/shareholder Certified, valid passport copies of all directors/shareholders; 3 proposed names of the company Personal and business profiles of each shareholder, curriculum vitae. Certified copy of utility bill/local authority tax bill/tenancy agreement or bank statement with the address of all directors/shareholders. For corporate shareholder Attested copy of the corporate documents including Certificate of Incumbency, Memorandum, and Articles of Association; Attested Certificate of Incumbency/ Certificate of Good Standing; Name of shareholders and Ultimate Beneficial Owners; Attested copy of corporate resolution stating new incorporation approval in RAK. Requirements for Annual Company Maintenance One director/shareholder; Local registered agent and registered address; Filing annual return. Corpin Consultants can assist you in handling the entire procedure of company incorporation such as documentation, registration, follow-up, approval, and renewals. Contact us for a free consultation today.[/vc_column_text][/vc_column][/vc_row]

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