Corpin Consultants

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Business Consultancy

How Can Your Company Benefit from Outsourcing PRO Services?

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How Can Your Company Benefit from Outsourcing PRO Services? Nowadays many companies are looking out for ways to manage their businesses systematically and cost-effectively. Outsourcing PRO services is a great step to make that possible. It covers the management of all legal obligations thereby permitting business owners to focus better on the other operational departments. Listed below are a few benefits you can enjoy by outsourcing your PRO services: Minimizes the cost of hiring an inhouse administrative and PRO professional When you consider the salary and gratuity expenses of in-house administrative and PRO teams, it is better to outsource these services to a business consultant. This will not only help save money but also you will have access to a large resource team with multiple PROs and experts. They have extensive experience in dealing with government entities and have a sound understanding of all rules and regulations. They stay updated on the latest changes in rules and above all, they know how to get things done. Saves your time Quite often even a simple visa  or permit procedure can take longer than expected. By outsourcing your PR processes, your time can be significantly saved by obtaining all necessary permits, staff visas and other corporate and licensing documentation. Avoid unwanted penalties A professional PRO service provider will make sure all your processes are completed before the date of expiry or deadlines. They will provide you timely reminders for corporate licensing and documentation renewals, so that your company can avoid all unwanted penalties and other consequences. Permits you to focus better on your core business Outsourcing your PRO requirements allows you to focus better on your core business activity and invest the money saved on admin costs into developing more business. Corpin Consultants offer efficient PRO Services in the mainland and free zones of the UAE. We have a dedicated team of PROs with extensive knowledge in legal obligations and strong relationships with government authorities. They will get all your documents approved in time hence avoiding delays in getting your business setup in Dubai. Contact us at +971 55 843 2911 or ek@corpinconsultants.com  to know more.

Business Consultancy

Guidelines For Starting An Import And Export Business In the UAE

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Guidelines For Starting An Import And Export Business In the UAE The strategic location, easy connectivity between the east and west, zero corporate tax, and investor-friendly government makes UAE a favourable destination for setting up such a business. How to start an import and export company in the UAE? 1. Apply for a trade license Before starting an import or export company, one must obtain a trade license from the Department of Economic Development (DED)to register the company in the mainland. Listed below are a few requirements for obtaining an import and export license: Trade name choices- You must provide minimum 3 trade name choices for the business. Nature of the business activity. Passport copies of all shareholders. UAE residence visa copies of partners (both local and foreign national). Copy of entry stamp if the partner is on visit visa. Emirates ID of local sponsor. 2. Obtain initial approval from DED It is essential to obtain this initial approval to make sure you will not face any objections from the government in the future. 3. Signing of MOA or LSA All partners and sponsors should be physically present at the time of signing the Memorandum of Association or Local Service Agreement. Due to the current pandemic situation, all these processes can be done electronically. 4. Rent a warehouse or location For operating an import/export business based out of the UAE, it is necessary to have a physical office and warehouse to stack imports/exports. A company needs to submit the rental agreement or tenancy contract details for getting the import/export codes and customs clearance. 5. Obtain all essential approvals Get all additional approvals depending on the nature of your business activity. 6. Make the payment After paying the fees and a payment voucher will be issued to you. 7. Collect the trade license The trade license can be collected from any of the DED centers or by visiting the official website of DED. 8. Customs Registration After receiving the trade license, you need to register your import or export company with the Customs department. By doing so you will receive a unique customs code, which needs to be submitted every time your company ships goods and commodities. If you need any guidance on import and export company formation in the UAE, the well- experienced team of Corpin Consultants can help you out. Contact us at +971 55 843 2911 or ek@corpinconsultants.com to know more about our services.

Business Consultancy

The Ultimate Guide to Setting Up a Medical Equipment Trading Company in Dubai

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The Ultimate Guide to Setting Up A Medical Equipment Trading Company in Dubai The current COVID-19 pandemic situation has turned to be an eye-opener for realizing the importance of healthcare in a country’s development. Therefore, the UAE government is striving hard to build a world-class healthcare system for improving the quality of life for its population. As a part of this reformative movement, the country is establishing many super specialty hospitals with the most advanced medical equipment. This opens up a great scope of medical equipment trading company in Dubai. Before setting up your medical equipment business, it is mandatory to obtain a commercial license from the Department of Economic Development (DED) for registering your business in Dubai mainland. Foreign nationals can register their businesses only as Limited Liability Companies (LLC). For starting an LLC in Dubai, it is essential to have a local sponsor with 51% ownership. Documentation Requirements for Starting A Medical Equipment Trading Company in Dubai For registering your medical equipment trading company in Dubai, it is necessary to submit the following to DED: Trade Name Choices: Minimum 3 name choices for the company. Business Activity: Mention the type of business activity. The main business activities for medical equipment trading company are: Medical, Surgical Articles, and Requisites Trading Medical, Surgical Equipment, and Instruments Trading Passport copy of all shareholders. Entry stamp or visa page if a partner is on Visit Visa or Residence Visa for a partner residing in the UAE. Emirates ID of the Local Sponsor. List of Activities Permitted for Importing Medical Equipment under DED Medical, Surgical Articles, and Requisites Trading Instruments and medical apparatuses used for the treatment of specific diseases can be imported under this activity license. For example, hearing aids, pulse regulators, medical shoes, etc. Medical, Surgical Equipment, and Instruments Trading Imports and reselling of instruments and equipment used in hospitals and clinics are classified under this business activity. These include equipment used for diagnosis, physiotherapy, and rehabilitation and blood preservation. Application Process for Starting A Medical Equipment Trading Company Obtain Initial Approval from DED — It is mandatory for every business owner to get this approval. Get Trade Name Approval from DED — The DED should approve any of the three trade name choices submitted. Preparing and signing the Memorandum of Association (MOA) — the Local Sponsor and at least one partner, if not all, must be present during the process. Due to the current pandemic situation with travel restrictions, signing of MOA is performed electronically. Rent a physical office or desk facility — A Dubai mainland company is supposed to have a physical office location. Submit the tenancy contract. Get all additional approvals, if any. Steps Involved in the Import of Medical Equipment in the UAE Step 1: Select the appropriate business activity related to nature of the business. Then, register with the customs to get the import/export code for shipping the medical devices into the country. Step 2: Register the Medical Products with the Ministry of Health The company’s medical products must be registered with the Ministry of Health in Dubai. Concerned health authorities must approve the right business activities and medical products before selling them in the UAE. Step 3: Working with a Local Distribution or Commercial Agent The company can assign local distribution agents or commercial agents who are registered with the Ministry of Health for carrying out imports and distribution of medical products in Dubai. If you are planning to set up a medical equipment trading company in Dubai, Corpin Consultants can assist you from start to end. Contact us to know more.

Blogs, Business Consultancy

How to Get an Instant Trade License in Dubai?

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How to Get an Instant Trade License in Dubai Dubai is considered as one of the best destinations for establishing a new business or expanding the operations of an existing foreign business. The strategic location and investor-friendly environment of this Emirate attract millions of investors every year. According to the ‘2018 Top FDI Performers Report’ by FDI Intelligence, Dubai ranked no. 1 globally in terms of foreign investment. It is mandatory for every business to obtain a trade license before setting up a company in Dubai. Instant trade license facility was introduced in Dubai by UAE Government for economy boost. What is An Instant Trade License? Trade license also referred to as a commercial license is issued by the Department of Economic Development (DED) in Dubai. It is required for carrying out commercial activities such as import and export of goods, sale of goods and services. Professionals offering services in a specific industry are also supposed to obtain this license. From July 2017, the UAE Government has introduced the facility of instant trade license in Dubai for boosting the country’s economy. This will help entrepreneurs to obtain their trade license in just five minutes. Advantages of obtaining an Instant Trade License Easy and Fast to obtain when compared to a general trade license that takes up to 5 working days. Instant trade license can be issued in just 5-10 minutes. Less paperwork. One can start business activities immediately after obtaining an instant trade license. Trade name registration is non-mandatory for the first year of operation. Memorandum of Association and Rent contract for the first year is not required at the time of applying. It can be submitted at the time of license renewal. Online or In-person application.  Who all are eligible for an Instant Trade License in Dubai? Limited Liability Company Single Person LLC Sole Proprietorship Civil Company Documents required for obtaining Instant Trade License If you are applying through the DED’s e-channel portal: Original ID for creating an account, for those who do not have a UAE Pass ID, they are supposed to create one before applying. If applying through service centres, smart lounges, or happiness lounges: Passport copies of all license parties (partners and managers) UAE visit visa copy of foreign partners, If not having a residence visa A copy of residence visa and NOC from the current sponsor A copy of your visa When you apply for an instant trade license, it requires a sound knowledge of the process and should be free from errors. If you are finding the process complex, it is recommended to seek help from a reliable company formation expert. Corpin Consultants can assist you in obtaining an instant trade license in Dubai. Contact us at +971 55 843 2911 or ek@corpinconsultants.com to know more.

Business Consultancy

Key Factors To Consider When Choosing A Business Consultant

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Key Factors To Consider When Choosing A Business Consultant Dubai, known to be the ‘City of Gold’ is the best place to kickstart your entrepreneurial journey. International exposure and investor-friendly environment are the two major factors that drive entrepreneurs to set up their dream business in this city. However, when it comes to understanding the business setup process, many budding entrepreneurs face a tough time. The reason behind it is that no person can be an expert in every aspect of business. Many business owners have realized this already, in fact, if you look past, seeking guidance has enabled several businesses to take the right direction. For instance, during the initial stages of Facebook, even Mark Zuckerberg took assistance from Sean Parker who played a pivotal role in transforming Facebook from a college project into a real company. This shows the importance of hiring a business consultant to get clarity and direction in your startup journey. Here are certain key factors to consider when choosing a business consultant: 1.Knowledge A business consultant should have a profound knowledge of the company’s strengths and weaknesses, as well as current and foreseeable problems, only then, they can ensure a better future for your business. A consultant will find the right opportunities by identifying problems in the first phase. Later, they come up with strategies and develop an action plan for achieving business goals. 2.Experience Reviewing the past track records with previous businesses is a great way to analyze a consultant’s expertise. The more experienced a consultant is, the best guidance you will receive from them. If they have already served many organizations previously, they can offer a ready-made solution which worked for them in the past. If not, they will still know where to start, and which path can be better. 3.Communication Skills A good consultant can clearly convey their message and ideas to the people they work with. They are the ones who come up with the right questions to resolve all crucial business management issues facing your business. They should understand your needs and offer prompt guidance. 4.Trust and Integrity Trust and integrity is vital to any business relationship. When you work with a business consultant, you will be sharing your company’s confidential information and business strategy with them. Therefore, honesty is a crucial factor worth considering, indulge in a long conversation with the consultant as much as you can and derive to a conclusion accordingly If you are looking for a business consultant in Dubai, Corpin Consultants is a trustworthy partner you can always rely upon. We offer a wide range of services including selecting the right jurisdiction, acquiring the essential licenses, legal documentation and other startup consulting services. For a free consultation, contact ek@corpinconsultants.com or +971 55 843 2911.

manufacturing company in dubai
Business Setup

All About Setting Up A Manufacturing Company in Dubai

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All About Setting Up A Manufacturing Company in Dubai Though a significant portion of the UAE’s GDP comes from the oil sector, still that dependency level is slowly declining with the rapidly growing manufacturing sector. Right now the GDP contribution of the manufacturing sector is 14 percent which is expected to increase up to 25% in the next 15 years.  As a result, more investments will be made in this sector, especially in the non-oil areas. The UAE government has already taken several noteworthy initiatives to boost the growth of manufacturing company in Dubai. Manufacturing business setup in Dubai offers numerous advantages, making it an attractive destination for entrepreneurs and investors worldwide. Here’s a glimpse into the process of forming a manufacturing company in this bustling emirate: Legal Structure: The first step involves choosing a legal structure for your manufacturing company. Options include free zone companies, mainland companies, and offshore companies, each with its own set of regulations and benefits. Business Plan: Craft a comprehensive business plan outlining your manufacturing activities, target market, financial projections, and operational strategies. This plan is essential for obtaining approvals and funding. Company Name: Choose a unique name for your company and ensure it complies with the naming conventions set by the Dubai Department of Economic Development (DED). Registration: Register your company with the DED, a free zone authority, or a relevant government agency depending on your chosen location and business structure. License: Obtain the necessary licenses and permits, which may vary depending on the nature of your manufacturing operations. Location: Select a suitable location for your manufacturing facility, taking into account factors such as proximity to ports, suppliers, and transportation networks. Hiring: Recruit skilled labor, technicians, and other staff members required for your manufacturing processes. Infrastructure: Invest in state-of-the-art infrastructure and technology to support your manufacturing operations efficiently. Compliance: Ensure compliance with local regulations, including labor laws, environmental standards, and health and safety requirements. Market Entry: Develop a marketing and distribution strategy to enter the local and international markets effectively. Financials: Establish banking relationships, secure funding if needed, and manage your finances meticulously. Expansion: As your manufacturing company grows, consider opportunities for expansion, diversification, or entering into partnerships to maximize your business potential. Dubai’s strategic location, modern infrastructure, and business-friendly policies make it a prime destination for manufacturing companies looking to tap into the Middle East and global markets. With careful planning and adherence to local regulations, establishing a manufacturing company in Dubai can be a rewarding endeavor. What makes Dubai the perfect destination for setting up a manufacturing company? According to Dubai Industrial Strategy 2030, Dubai’s industrial growth is expected to cross $16.1 billion by 2030. The government has identified 75 strategic initiatives for transforming this Emirate into an international hub for knowledge-oriented, innovative and sustainable industrial activities. The strategic geographical location, diverse consumer base, talent hub, excellent infrastructure, easy business registration process, and political and economic stability are some factors that make Dubai the perfect destination for setting up a manufacturing company. Steps For Setting Up A Manufacturing Company in Dubai Mainland Select an appropriate activity regarding manufacturing products. After selecting the activity, find a reliable sponsor Submit all essential documents to the Department of Economic Development for obtaining name approval and initial approval. Sign the Memorandum of Association with the notary public along with the local sponsor. Manufacturing company setup in the UAE requires a warehouse or land. Obtain the tenancy contract and Ejari from the landlord of the warehouse. Get an approval from the Municipality of Dubai for obtaining the industrial license. After getting all essential approvals, submit the documents to the Environment Department for industrial approval. Get NOC from the civil defence. Obtain external approvals from the department. These are for selected manufacturing units such as approval from food control for manufacturing food products, narcotics department for chemical production, or Police approval for manufacturing jewellery. After obtaining all approvals, submit all the papers to the Economic Department to get the industrial license. Make a payment, and your industrial permit will be issued. Whether it is obtaining the essential approvals, preparing necessary documents, bank account assistance, Corpin Consultants offer all services related to setting up manufacturing companies in Dubai. Contact us at +971 55 843 2911 or ek@corpinconsultants.com for a free consultation.

business setup in UAE, e-commerce business setup UAE, Corpin Consultant
Business Setup

7 Steps to Consider Before Starting An E-Commerce Business Setup In UAE

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7 Steps to Consider Before Starting an E-Commerce Business Setup in UAE Online shopping has now become an inevitable part of our lives. Long back, it was considered as a matter of convenience and luxury, but now it has turned out to be a necessity with the recent COVID-19 situation that shook the entire world. According to the joint study published by Dubai Economy and VISA entitled, ‘UAE e-commerce Landscape, the average annual growth of the e-commerce market in the UAE is expected to rise by 23 percent between 2018 to 2022. With this rapidly emerging online retail trend, many entrepreneurs are planning to establish their e-commerce business in the UAE. If you are one among them, here are 7 steps worth considering: 1. Choose the right jurisdiction for obtaining license Business owners can select their preferred legal entities, free zone or mainland depending on a business type and area of interest. A mainland license offers you the freedom to trade or sell your products and services directly to the local market whereas a free zone license requires you to work with a local distributor. A free zone license has several advantages such as 0% income tax, 100% repatriation of business profits, 0% corporate tax, 100% complete business ownership and negligible custom duties. 2. Select a trade name The second step is to select a unique business name which no one else is using. In order to reserve a trade name, you need to obtain the name approval certificate from the DED (Department of Economic Development). Necessary documents required Passport/visa copies of shareholders Copy of sponsors passport/ Emirates ID Local service agreement/ MOA (Memorandum of Association) NOC from the relevant authority 3. Obtain the license Obtain the essential license from DED (Department of Economic Development). 4. Develop and launch your website A website is the most important part of your e-commerce business, it is the platform for showcasing your products and interacting with customers. Make sure that your website has secure hosting and a user-friendly interface. 5. Payment Gateway Integration It is essential to offer different payment options for customers and when you shortlist these options, always keep two things in mind: stability of the payment gateway and transaction success rate. 6. Safe logistics, storage, and delivery It is necessary to have a secure warehouse to store your physical goods. After securing a warehouse, you need to establish a reliable logistics system to ensure a safe delivery of products to customers. You can either opt for a third-party logistics or build your own. 7. Marketing Soon after your business is all set to be launched into the market, the next step is to come up with a marketing strategy for reaching your target customers. This marketing strategy should also align with the interests and needs of consumers. Starting an e-commerce business setup in UAE requires careful planning, but with the right approach and understanding of the local market, you can set yourself up for success in this rapidly growing sector. It’s recommended to seek professional advice and guidance from business consultants or legal experts to navigate the complexities of setting up an e-commerce business in the UAE. Corpin Consultants have helped several entrepreneurs and companies to set up their e-commerce business in the UAE. We can assist you in selecting the right jurisdiction, easily open bank accounts and ensure a hassle-free licensing procedure. Contact us to book a free consultation with our experts.

Business Consultancy

Know More About Dual License Office Permit- Application, Renewal, and Termination Process

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Know More About Dual License Office Permit- Application, Renewal, and Termination Process A new dual license office permit may allow DMCC member companies with a DED branch/subsidiary / a company to operate from their JLT offices. This permit is valid for one year and help business owners to save the cost of leasing another office for the DED license. How to apply for a new Dual License Office Permit? Visit the DMCC portal and fill the application form to ‘Apply for ‘New Dual License Office Permit’ Upload the necessary documents and make the payment. Once approved by the DMCCA, Step will return to the company submitted the SR to upload the ‘Sub- lease contract’ Documents Required Ejari Certificate Title Deed Sub-lease contract Certificate of Incumbency for branches, subsidiaries, and joint ventures Request Letter Undertaking letter NOC from the landlord DED license How to Renew Dual Office License Permit? Fill the application form available in the DMCC portal entitled ‘Apply for renew dual office license permit’ after putting the existing permit number that needs to be renewed. Upload the necessary documents and make the payment. Documents Required Ejari Certificate Certificate Of Incumbency for branches, subsidiaries, and joint ventures NOC from the landlord Sub-lease contract DED License How to Terminate Dual License Office Permit? Fill the application form entitled’ Apply for Terminate Dual License Office Permit from the DMCC portal after putting the existing permit number. Upload the essential documents and submit the SR. Document Required An Official Request Letter on DMCC company letterhead signed by the authorized signatory mentioning the reason for termination. This is the perfect time to set up your business in the UAE’s most wanted free zone ’DMCC’. Corpin Consultants offer flat 50% discount on company formation. Also, enjoy a safe and hassle-free online setup process. So what are you waiting for? Talk to our experts today! Call us at +971 55 843 2911 or email at ek@corpinconsultants.com

News

The UAE Cabinet Clears 100% Ownership Restriction in Mainland for Positive List of Sectors

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The UAE Cabinet Clears 100% Ownership Restriction in Mainland for Positive List of Sectors Under the Foreign Direct Investment (FDI) Law, the UAE cabinet has released the full list of 122 categories for 100 percent ownership in the mainland. Cabinet Resolution No. (16) of 2020 mentioned the ‘Positive List’ of sectors and economic activities in which foreign direct investment is permissible and the percentage of ownership is 100 percent. This list covers key sectors – agriculture; manufacturing; transport and storage; hospitality and food services; information and communications; science and technology; healthcare; education; art and entertainment; and construction. It also includes numerous promising activities such as manufacturing of toys, sports goods, electrical equipment, consultancy services, advertising, photographic activities, construction of buildings, translation services, primary, secondary and higher education, hotel and restaurant management, hospitals, and music bands, etc. Cabinet Resolution No. (16) of 2020 also sets a condition for companies to invest in the latest technologies, contribute to research and development, and meeting the requirements of the UAE licensing entities. This latest initiative by Cabinet, the manufacturing sector will benefit a lot. This measure is implemented to have a positive impact on the creation of jobs and reducing the import of goods by producing it locally. The minimum investment has been set at Dh2 million for manufacturing; Dh3 million for manufacturing of sports and toy industries; Dh20 million for manufacturing activities of automobiles, metal ad medical equipment; and Dh100 million for healthcare. If you are planning for a company formation in Dubai mainland, feel free to contact us at +971 55 843 2911 or ek@corpinconsultants.com. Our team of experts can offer accurate guidance for all your queries related to registration, licensing, business setup, and more.

Business Consultancy

7 Positive Changes Brought by COVID-19

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7 Positive Changes Brought by COVID-19 The entire world is now grieving for a common cause, COVID-19, one of the deadliest pandemics in history. Day after day, our anxiety levels are going up when the sad news of rising death toll and unprecedented stay-at-home orders floods in. However, there are still many silver linings beyond this frightening global pandemic, which are worth considering. Here are 7 positive changes that COVID-19 has brought in: 1. Developing A Hand Hygiene Habit For years, health officials were emphasizing the effectiveness of hand washing in keeping diseases at bay. However, many people neglected it, but now with the rising awareness of novel coronavirus, all are frequently washing their hands. Several studies report that a new behavior can automatically turn into a habit within a timeframe. 2. Spending Quality Time with Family The lockdown in the wake of coronavirus has turned to be a blessing in disguise for many. This much-needed slowdown has given many a chance to reset their lives. Though many are working from home, they are able to spend quality time with family, which was not that possible before due to busy work schedules. Family members are actively participating in household chores leading to equality and greater bonding. 3. Given Us a Chance to Revisit Old Hobbies and Declutter Homes This self-isolation period has given many people plenty of time to revisit their long-lost hobbies or start new ones. People across the globe got an opportunity to perform their long-time pending task, decluttering unwanted stuff from home. 4. Made us Realize the Value of Healthcare Workers and Investing In Healthcare COVID-19 has taught us the value of healthcare workers, they are the real life heroes who work at the front lines of this pandemic day and night. This global pandemic crisis has also taught every nation the importance in investing in healthcare system and staying prepared for any future emergencies. 5. Encouraging Work from Home Culture Before there was a notion that ‘real work’ only occurs within the four walls of an office, but now this trend has changed. Of course, not every job can be done at home, but working from home allow companies to save costs on office space, equipment, and electricity. Working from home also provides great relief from commuting challenges and improve the mental wellbeing of employees. 6. Taught Us An Important Lesson- Coexistence The coronavirus has taught humans an important lesson, coexistence. Since humans began retreating from the public spaces in the fear of coronavirus, nature has begun reclaiming its space. For example, dolphins have returned to the Italian coast, thanks to the missing cruise ships! The water in Venice canals are clearer than ever and visited by Swans due the absence of gondolas. 7. Less air Pollution and Road Accidents With flights grounded, factories shut, and roads empty, the air has become cleaner like never before. Highly air polluted cities such as Bangkok, Delhi, Beijing, São Paulo and Bogotá have all reported an unprecedented decline in pollution. Also, road accidents account for 3,424 deaths daily or two deaths per minute globally but coronavirus lockdown orders have led to a significant reduction in these numbers.

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