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Offshore company formation uae, company formation dubai, corpin consultants
offshore company formation

A Closer Look at Offshore Company Formation in the UAE

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A Closer Look at Offshore Company Formation in the UAE UAE is one of the world’s most dynamic and business-friendly jurisdictions. From its bustling commercial hubs to its investor-friendly policies, the UAE provides a conducive ecosystem that fosters innovation, trade, and success. No wonder it has become a sought-after destination for entrepreneurs and investors seeking to establish an offshore company. Offshore company formation is a strategic business move that involves establishing a company in a foreign jurisdiction, typically with favorable tax and regulatory environments. In this blog, we will understand the essential aspects of offshore company formation in UAE. Stages involved in establishing a company: Come up with a unique and captivating name First, it’s essential to choose a name that exudes the purpose and essence of your business. When naming your company, ensure that your company name is unique and is not already registered by someone else. Apply for a business license After finalizing your company name, complete the application form and attach the supporting documents. This would include a well-written business plan, copies of shareholders’ and directors’ passports, resumes of shareholders, and proof of address. Submitting the required documents Submit documents to the appropriate authorities. The documents will undergo a thorough review, and upon approval, the licenses will be granted. Draft MOA and AOA To formalize your offshore company’s structure, you’ll need to draft the Memorandum of Association (MOA) and Articles of Association (AOA) in English. Once reviewed and approved by the authorities, you can commence company operations. Opening a Bank Account To facilitate seamless transactions and financial operations, opening an offshore bank account is highly recommended. Advantages of an Offshore Company Formation in Dubai Tax Benefits One of the key perks of setting up an offshore business in Dubai is the abundance of tax benefits. By establishing your company in this thriving city, you can enjoy a tax-free environment, allowing you to retain all the profits you generate. Dubai’s economy has flourished due to its attractive tax reductions, which have successfully attracted numerous investors seeking financial advantages. Complete Foreign Ownership The UAE permits foreign business owners to maintain 100 per cent ownership of their enterprises. This exceptional feature grants you the freedom and control to fully manage and shape your company according to your vision. Enhanced Confidentiality If you value discretion and privacy, Dubai’s offshore company setup is an ideal choice. Operating an offshore company in the UAE ensures an additional layer of confidentiality, as the names of directors and shareholders are not widely disclosed. Secure Financial Investments The United Arab Emirates provides robust asset protection for businesses registered within its jurisdiction. This added security can bring peace of mind, knowing that your wealth and assets are well-protected. Lower Operating Expenses Compared to establishing a traditional onshore company, offshore companies in Dubai can significantly reduce operating expenses. With fewer legal obligations for reporting, you can save on costs related to renting office space and hiring personnel for compliance purposes. Solid Legal Grounds In the unfortunate event of a lawsuit or unforeseen circumstances, Dubai provides strong legal grounds to protect your company. While lawsuits can potentially push a business into bankruptcy, having an offshore company in Dubai ensures that your entire wealth, including personal assets, remains safeguarded. Multi-Currency Banking Options Dubai’s offshore banking system offers the advantage of multi-currency accounts, enabling seamless cross-border commercial transactions. These accounts provide flexibility, convenience, and financial security, allowing you to conduct international business operations more efficiently. Documentation To establish an offshore company in Dubai, you will need to provide the following documents: Proof of residence Owner’s resume demonstrating qualifications Passport copy of the designated manager A business plan outlining your company’s objectives and strategies Copies of shareholders’ and owner’s passports Memorandum of Association (MOA) detailing the company’s structure and regulations Bank reference letter and relevant bank documentation Get Expert Guidance to Ensure Your Offshore Company Formation in Dubai is on the Right Track When establishing an offshore company in Dubai, seeking the guidance and expertise of a professional consultancy firm like Corpin Consultants can be immensely beneficial. At Corpin Consultants, we specialize in offshore company formation and possess in-depth knowledge of the UAE’s legal and regulatory landscape. Our experienced team can navigate the complexities of the registration process, ensuring compliance with all requirements. From handling the necessary documentation to providing strategic advice, Corpin Consultants can streamline the offshore company formation process, saving you time, and effort to help you embark on your offshore company venture in Dubai.

IT company in dubai, company setup dubai, corpin consultants
Company Setup

Advantages of Incorporating IT Company in Dubai

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Advantages of Incorporating IT Company In Dubai In the bustling metropolis of Dubai, establishing an IT company is a strategic move that can reap numerous rewards, and Corpin Consultants is your trusted partner for seamless business setup and company formation in this thriving city. Dubai offers several advantages for IT company incorporation, making it an attractive location for companies in the technology sector. Here are some of the advantages: Strategic Location: Dubai’s strategic location between Europe, Asia, and Africa provides excellent connectivity and access to a vast market. It serves as a gateway for IT companies looking to expand their operations across multiple regions. Business-Friendly Environment: Dubai offers a business-friendly environment with streamlined processes for setting up and operating a business. The government has implemented initiatives to support entrepreneurship, innovation, and technology, making IT Company Incorporation easier and grow their presence. Infrastructure and Connectivity: Dubai has state-of-the-art infrastructure, including world-class telecommunications networks, high-speed internet connectivity, and advanced data centers. The city’s advanced infrastructure supports the smooth operation of IT businesses and facilitates efficient communication and connectivity. Free Zones: Dubai has specialized free zones dedicated to the technology and IT sectors, such as Dubai Internet City and Dubai Silicon Oasis. These free zones offer incentives like 100% foreign ownership, tax exemptions, and streamlined processes, making them attractive locations for IT company incorporation. Talent Pool: Dubai has a diverse and skilled workforce, including a growing pool of IT professionals. The city attracts talent from around the world, offering a multicultural and cosmopolitan environment. Additionally, Dubai’s universities and educational institutions provide a strong foundation for nurturing local talent in the IT field. Government Support: The Dubai government is actively supportive of the technology sector and has launched initiatives to foster innovation, research, and development. It offers various programs and incentives to support the growth and development of IT businesses, including funding opportunities, mentorship programs, and business support services. Market Opportunities: Dubai and the wider UAE offer a thriving market for IT products and services. The government’s focus on digital transformation and innovation, along with the presence of numerous businesses and organizations, creates ample opportunities for IT companies to cater to the growing demand. Tax Advantages: Dubai offers a favorable tax environment, with no personal income tax and no corporate tax in most sectors. This can significantly benefit IT businesses, allowing them to retain more profits and reinvest in their growth. Setting up an IT company in Dubai not only grants access to a diverse and tech-savvy market but also comes with potential tax advantages and business-friendly regulations. Corpin Consultants’ expertise ensures that your venture complies with local laws while capitalizing on the city’s opportunities, making your IT company’s journey in Dubai a prosperous one. These advantages make the region an attractive destination for businesses looking for IT Company incorporation in Dubai, tap into a diverse market, and leverage a supportive business ecosystem. However, it’s important to conduct thorough research and seek professional advice to understand specific regulations, market dynamics, and industry requirements when entering the Dubai IT sector.

Dubai Silicon Oasis company setup
Blogs

Advantages of Setting up Your Business in Dubai Silicon Oasis

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Advantages of Setting up Your Business in Dubai Silicon Oasis (DSO) Dubai Silicon Oasis (DSO) is not just an average business hub – it’s a thriving, energetic community that pulses with the spirit of technology and innovation! It’s a realm where a vibrant ecosystem thrives, bringing together visionaries and businesses to shape the future of technology. With a cutting-edge playground of infrastructure and an atmosphere teeming with support, DSO sets the stage for dreams to transform into reality. If you want to join the ranks of trailblazers, look no further than DSO. In this blog, we will explore the endless opportunities and benefits of company setup in Dubai Silicon Oasis, which is a buzzing tech haven. What is Dubai Silicon Oasis (DSO)? Dubai Silicon Oasis (DSO), established in 2004 is a government-owned free zone in Dubai which over the years has become a coveted destination for entrepreneurs and professionals seeking career growth, residential comfort and a vibrant environment to call home. DSO encompasses a diverse range of major business activities, making it a hub for various industries and sectors. Some of the prominent business activities in Dubai Silicon Oasis include: Technology: DSO serves as a flourishing place for technology companies, software development, hardware manufacturing, IT consulting, and design firms. It attracts businesses engaged in cutting-edge technologies and innovative solutions. SCM, Transportation & Logistics: Entrepreneurs looking to set up business in logistics, freight forwarding, transportation services, and supply chain management (SCM) will find DSO to be an advantageous location due to its strategic positioning and excellent connectivity. Manufacturing: DSO houses various manufacturing facilities for industries such as electronics, machinery, construction materials, and precision engineering. It serves as an ideal environment for businesses involved in production and assembly. Food & Beverages: DSO has a variety of restaurants, cafes, food processing companies, and catering services to fulfil the diverse culinary preferences of residents, employees, and visitors. Professional Services: This vibrant place offers a platform for professional service providers such as legal firms, accounting and auditing companies, business consulting agencies, and human resource specialists to serve the requirements of businesses. Hospitality: DSO also has a flourishing hospitality sector with hotels, serviced apartments, and resorts catering to both business and leisure travellers. The sector provides world-class accommodations and amenities to enhance the overall experience of residents and visitors. Healthcare: The presence of clinics, healthcare centres, and specialized healthcare service providers, offer a range of medical and wellness services to the community. Marketing: The marketing needs of the businesses in the DSO are fulfilled by agencies, advertising firms, and digital marketing specialist companies. Academics and Learning: There are several educational institutions, training centres, and research facilities, contributing to the development of knowledge and skills in various fields. Trading companies: DSO facilitates trading activities with businesses involved in import/export, wholesale trade, and retail operations, creating opportunities for both local and international trade. Steps to establish a firm in Dubai Silicon Oasis Register on DSOA’s (Dubai Silicon Oasis Authority) portal to initiate the application process. This will grant you access to the necessary forms and information. Download the application form from the portal and fill in all the required details accurately and submit it through the designated channel. Next, prepare and submit the pre-approval documents for review. These documents will undergo a thorough examination by the relevant authority. Once the review is complete and the requirements are met, you will receive the initial approval. Now it’s time to gather the legal documents and fulfil the required fee payment. Ensure all the necessary legal documentation is prepared and in order. Pay the prescribed fee to proceed with the application process smoothly. Receive a digital copy of the agreement via your registered email address. Review the terms and conditions outlined in the agreement. Sign the electronic copy and return it to the authority. Additionally, if you’re establishing a Free Zone Establishment (FZE) or Free Zone Company (FZCO), include the share capital letter as well. The share capital letter is only applicable to FZE and FZCO entities, and there is no minimum paid-up share capital requirement, providing flexibility to your business. Benefits of Business Setup in Dubai Silicon Oasis Complete control with 100% foreign ownership of your business. Repatriate your capital and profits fully, without any restrictions. No income tax, as it’s completely waived. Benefit from hassle-free import and export, with no taxes imposed. Experience the power of state-of-the-art IT infrastructure to support your business operations. Set up your business easily, quickly, and at a low cost, thanks to a streamlined process. Choose from a variety of office spaces and warehousing facilities that meet your specific needs. Explore a wide range of IT and technology business activities available to pursue. Access a pool of highly talented technical and engineering professionals whenever you need them. Freedom to hire foreign employees without any restrictions. Simple customs clearance process, making trade efficient and smooth. Experience speedy processing of employee visas, ensuring a prompt and hassle-free workforce setup The beauty of Dubai Silicon Oasis (DSO) lies in its incredible location as well. It is situated right in the heart of Dubai, enabling you to tap into key business hubs and markets across the Middle East, Africa, and Asia. You will be closely located from major transportation routes, airports, and seaports. Documentation required A duly filled application Form Letter of Intent Passport Copy Bank statement/reference letter Company business plan Seamlessly Establish Your Business in Dubai Silicon Oasis with Corpin Consultants If you’re looking for a business destination that offers unparalleled growth and opportunities, Dubai Silicon Oasis is the place to be. With our in-depth knowledge of the DSO ecosystem and extensive experience in business consultancy, we provide tailored solutions to guide you through every step of the setup process. To know how we at Corpin Consultants can help you set up a business in DSO, call on +971 55 843 2911 or email: info@corpinconsultants.com today!

business setup in dafza, dafza company formation, corpin consultants
Business Setup

Business Setup in DAFZA (Dubai Airport Free Zone Athority) Benefits & Process

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Business Setup in DAFZA? Here’s what you need to know! Dubai’s Airport Free Zone (DAFZA) is a prime destination for businesses looking to establish a foothold in the Middle East. DAFZA offers a host of benefits for entrepreneurs and companies seeking to expand their operations. What is DAFZA? DAFZA is a dynamic free zone strategically situated near Dubai International Airport. It houses diverse industries such as aerospace, technology, healthtech, logistics, and more. The location provides superb connectivity and access to global markets, making it one of the sought-after places in the world for entrepreneurs to set up their businesses. The free zone offers various strategic benefits to businesses owing to its prime location. The region’s excellent infrastructure coupled with government support makes it an ideal place for businesses to thrive and flourish. Legal and Regulatory Considerations Before doing a business setup in DAFZA, it is essential to determine the most suitable legal structure for your business so that you comply with all applicable regulations. DAFZA offers various options for business setup in dubai, including Free Zone Company (FZCO), Branch Office, and Freelancer Permit. Each option has its unique requirements and benefits, and you must carefully evaluate which one you should opt for. It is better to choose a legal structure that aligns with your business objectives. After selecting the appropriate legal structure, obtain the necessary licenses and permits to operate in DAFZA. The free zone has a streamlined licensing process to facilitate a smooth business setup. You may be required to acquire specific licenses depending on your business activities. However, you can rest assured that if you have proper documents in place, DAFZA provides comprehensive support throughout the licensing process. Once you are equipped with all the legal and regulatory details, you can start with the business set-up process in DAFZA. Step 1: Check your eligibility criteria Various factors will determine your eligibility for running a business. This includes your business activity, finance, and shareholding structure. You will need to ensure you meet the defined criteria as the government will verify your ability for business setup in DAFZA. Step 2: Submit the Application and Documents Have all the necessary documents, including your business plan, passport copies, and other relevant paperwork. Submit your application to DAFZA along with the required fees. Step 3: Company Name Registration Select a unique business name and get it registered with DAFZA. The name should comply with DAFZA’s naming guidelines and should reflect the nature of your business. Step 4: Lease Agreement Secure a physical address for your business in DAFZA by signing a lease agreement. DAFZA offers flexible office spaces with facilities to meet the specific needs of different businesses. Step 5: Obtain Approvals and Licenses Obtain the necessary approvals and licenses for your business in DAFZA by visiting the office. You may be required to obtain trade licenses, immigration cards, and visas for employees. Step 6: Bank Account Opening You will then be required to open a corporate bank account in the UAE. DAFZA has partnerships with several leading banks, so you easily open an account for your business in the free zone. Step 7: Start Operations After obtaining all the required licenses and approvals, you can officially commence your business operations in DAFZA. You can start hiring employees, procure necessary resources, and run business operations as per your plan. World-class business facilities and infrastructure DAFZA provides excellent facilities and infrastructure to support the growth and success of businesses. It offers a range of options for diverse industries such as state-of-the-art office spaces, modern warehousing, and logistics facilities. The free zone is also equipped with advanced IT and telecommunications infrastructure to ensure the business can execute its business operations seamlessly. Attractive Benefits DAFZA is a tax-free zone, which means businesses are 100% exempted from corporate and personal income taxes. Additionally, companies benefit from customs duty exemptions on imports and exports within the free zone. Start a business in DAFZA with Expert Guidance The business setup in Dubai’s Airport Free Zone (DAFZA) opens the door to a world of opportunities. By partnering with a trusted business consultancy firm like Corpin Consultants, you can steer the setup process with confidence. Corpin Consultants will provide you with comprehensive guidance and support throughout the business setup process. We work with you to help you obtain the necessary licenses and permits to ensure your business meets all legal requirements. With our deep understanding of DAFZA’s business setup processes, regulations, and business environment, we can provide invaluable assistance throughout the setup journey. Corpin Consultants can assist with documentation and can liaise with DAFZA authorities on behalf of you to facilitate smooth communication and eliminate any potential delays. Furthermore, we also help businesses select the most suitable workspace, warehousing, or logistics solutions within DAFZA. For more details on business setup in DAFZA, call us at +971 55 843 2911 or email info@corpinconsultants.com or get a free consultation today!

Starting an IT Company in Dubai, business setup in Dubai, Corpin Business Setup Consultant
Company Setup

How To Start An IT Company In Dubai?

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How to start an IT Company in Dubai? With its dynamic economy and advanced approach, Dubai has emerged as a global hub for technology and entrepreneurship. If you’re passionate about technology and want to make your mark in this vibrant city, starting an IT company in Dubai could be the opportunity of a lifetime. What’s more, with the right mindset, skills, and resources, you can turn your vision into a reality. But before you dive in, let’s have a look at some essential tips that can help you get started on the right foot. These tips will not only save you time and money but also give you a better chance of success in this highly competitive market. What’s your niche? Focusing on the niche is the first step you can take to develop a unique product or service that meets the specific needs of your target customers. To find a niche, it is essential to do research and find a gap in the market. Ensure that the niche you are going to select aligns with your skills, interests, and expertise. For instance, you can focus on creating software that simplifies complex tasks, or an app that streamlines a particular business process. So you see by identifying a niche for which you can create a solution, you’ll be able to develop a unique selling proposition (USP) that showcases your strengths. It will help you stand out in the market. So, take the time to research, brainstorm, and test your ideas. You your niche could be the key to your success in making it big in the IT world of Dubai. Conduct market research Market research is considered the foundation on which successful businesses are built. When it comes to starting an IT company in Dubai, market research is even more crucial. Dubai’s tech scenario is evolving rapidly and you will need to do thorough market research if you want to stay ahead of your competitors. But what exactly is this market research? Well, market research comprises a process of gathering and analyzing information about your business landscape, competitors, and customers. Right from conducting surveys to talking with customers and using online tools to interviewing a focus group, this research will help you understand your customers’ requirements, their pain points as well as the strengths and weaknesses of your competitors. Ultimately, it will help you develop a strategy that meets your objectives and sets you apart from others. Get the necessary licenses When it comes to getting the necessary licenses and permits in Dubai, the Dubai Department of Economic Development (DED) is the place to start. You will need to know what kind of licenses you will need. Starting a business for a foreigner can be overwhelming in Dubai because there’s a specific license for each business type. For instance, if you are providing an IT service, you will have to obtain a professional license. If selling a software solution, you’ll need a professional license and if you are involved in producing technology hardware, you will need an industrial license. According to the recent changes in the law, an expat entrepreneur can own 100% ownership of the company in Dubai. Moreover, if you want to partner with a corporate or local sponsor in Dubai to fund your business, you can do so. To start, you will need a trade name, ownership structure, business activities, and some additional documentation. Feeling overwhelmed? You don’t have to as you can always find a local agent who can assist you with obtaining a license based on your business. With a trustworthy consultancy firm like Corpin Consultants, you can easily set up your business that complies with the law. Set up your office After obtaining a license, it’s now time to start setting up an office of your IT company in Dubai. Finding the right office that meets your requirements can be a challenge. There are several skyscrapers and modern architecture buildings in Dubai, but navigating the rental market can prove to be costly and a real hassle. Hence, ensure that you take time and do your research well – like first consider the location. Make sure that your office is conveniently located so that you and your clients can commute easily. Second, is the layout of the office. Check if it can accommodate your team and any products or equipment that you will need to store. Think about the amenities that you get along with the space such as checking if you are getting high-speed internet, conference rooms, and other essentials. Getting an office for rent in Dubai is not cheap so plan your budget wisely. Hire the right team A team is everything; the right people in your team can help you take your business to new heights while the wrong ones can pull you back! So becoming intentional and strategic is of utmost importance when hiring. To hire the right people, you will need to identify the skills and experience you are looking for in people. They should meet your business goals. For instance, do you need a UX/UI designer with certain software expertise? In short, make a list of expertise or talents that you will need for each of the job profiles and access candidates based on these criteria. And that’s not the only thing when hiring in Dubai, the city is multicultural, vibrant, and dynamic. Have a diverse team culture. Hire individuals from diverse backgrounds as it will help you have a wider perspective in your business. Be an inclusive employer. Create a workplace that is supportive and welcoming of individuals from different races, genders or backgrounds. By having the right team in place, you can easily make your IT business thrive in Dubai. Develop your product or service It’s now time to start developing a product or service that will truly set your IT Company in Dubai apart. Use the market research to understand what problems your customers are facing that you can solve, and the opportunities you can

Corpin Consultants at InvestPro Conference, Cyprus
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Corpin Consultants at InvestPro Conference, Cyprus: Building Connections and Expanding Network

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Corpin Consultants at InvestPro Conference, Cyprus: Building Connections and Expanding Network Corpin Consultants recently had the privilege of attending the InvestPro Conference in Limassol, Cyprus on April 25th, 2023. Ebi Kadavan, Founder of Corpin Consultants, made a notable presence at the conference, connecting with various distinguished attendees including industry experts, business leaders, and government officials. Through his active participation, Ebi was able to foster valuable relationships with fellow professionals and gain insights into the latest trends and challenges in the field of corporate business and private wealth management. Corpin Consultants always look forward to participating in industry events that offer deep insights and learning in business set-up. InvestPro event provided a comprehensive look at practical solutions for corporate businesses, including setting up new companies, relocating businesses, opening bank accounts, citizenship and immigration, and identifying investment opportunities and trends. About InvestPro Conferences The InvestPro Conferences are organized by BOSCO Conference and held in different cities of Europe, Asia and the Middle East. Through these events, BOSCO Conference aims to create a platform where business professionals, investors, and government representatives can come together to exchange ideas, stay updated on the latest industry trends, and expand their networks. Professionals from various industries such as banking, legal services, investment management and real estate attend these events. Event Highlights The 6th International InvestPro conference was held in the scenic city of Cyprus – Limmasol on April 25th 2023. This well-organized event brought together a diverse group of attendees from various industries and sectors of the world. The Cyprus Chamber of Commerce and Industry (CCCI) participated as an Information Partner in this conference. The InvestPro Conference had a strong international presence, with over 150 delegates attending from 20 different countries, specializing in corporate and banking services, asset protection, private capital management, and new and emerging solutions in the areas of investment, real estate, taxation, and citizenship through investment. The InvestPro Conference covered a range of topics related to investment opportunities, including real estate investments in Cyprus and Ayia Napa Marina, as well as investment opportunities in Dubai and the UAE. Other discussions included the formation of Swiss companies with crypto wallets and the benefits of Swiss-Cayman private trust companies. The conference also explored new investment possibilities in Cyprus and tax benefits for IT companies. One of the notable presentations was on the stable performance of AMC-Uplift High Yield European Growth, providing attendees with valuable insights and potential investment opportunities. The conference also stood out for its focus on providing solutions for corporate businesses, offering insights on common challenges when starting up or relocating to Cyprus. The speakers provided valuable insights and advice on how to navigate the complex process of setting up a business, including legal and financial requirements, tax implications, investing in real estate, and accessing private banking services. Corpin Consultants – dedicated to delivering exceptional services to clients Attending the InvestPro Conference was a valuable experience for us at Corpin Consultants. The networking opportunities helped us establish connections with other professionals and explore potential collaborations. We look forward to participating in similar events in the future to keep up-to-date with the latest trends and advancements in industry and continue delivering excellent services to our clients. To know how Corpin Consultants can help you with business incorporation, taxation and business advisory in Dubai, give us call us on +971558432911 or email at info@corpinconsultants.com.

All About Sponsorships in Dubai
Blogs

All that you need to know about Sponsorships in Dubai!

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All that you need to know about Sponsorships in Dubai! Dubai has always been a major place of attraction for foreign investors and entrepreneurs. The strategic location, formidable economic structure, sizeable global population, solid infrastructure and ample commercial opportunities are the major reasons why established as well as budding investors prefer it over other countries to kick-start a business. The background UAE has three main types of companies under which non-GCC citizens can register and operate their business – Mainland Companies, Free-Zone Companies and Off-shore Companies. Earlier if you were to start a commercial business in Mainland Dubai, you were required to obtain local sponsorships in Dubai. A local sponsorship could be a UAE national or a UAE-based company. So a local or corporate sponsorships in Dubai was mandatory for an entrepreneur willing to start a commercial business in Dubai though this was not mandatory in the case of a professional business set-up. It was also obligatory that a local sponsor holds a 51% stake in the company and an expat 49%. Establish your company in Dubai with 100% ownership According to the provisions of Federal Decree-Law No. 26 of 2020 and as per the revisions made to the provisions of Federal Law No. 2 of 2015 on Commercial Companies, foreigners are now allowed to set up a commercial company in Dubai with full ownership. An expat/non-GCC resident can now establish a commercial business in Mainland with 100% ownership! Yes, the law now grants the freedom to both expats and legal entities to establish companies without any prescribed nationality criteria. Apart from this, companies wishing to go for joint stock can sell up to 70 per cent of the stake post approval from regulatory authorities. Yes, the ceiling of 30 per cent cap has been increased to 70%. Moreover, existing companies may apply to amend their statuses of ownership according to the new law. The decree is deemed to be a continuation of the UAE’s on-going endeavours to enhance the readiness of its economy and gear up for the future by fostering commercial and investment prospects. This will also elevate the competitiveness of UAE’s business landscape, in tandem with the rapid economic transformations and advancements transpiring across the world. Despite the change in ownership law, expats do have the option of collaborating with the local sponsor. The benefits of having a local or corporate sponsorships in Dubai can prove beneficial in the sense they can act as a local agent making it easy for expats to deal with the local departments. How Corpin Consultants can help you? Business setup for Non GCC residents in Dubai can be difficult if they have little or no knowledge of the existing governmental norms, knowledge of the region, compliance regulations. If you are looking for setting up a business in Dubai with 100% ownership or require a local or corporate sponsorships in Dubai, we can help. We offer end-to-end business set-up services such as assisting clients with trade license applications, VAT and company administration, finding and accessing banking services, visa, relocation process, documentation etc. So leave all your worries to rest and get started on your next venture in Mainland Dubai. Contact us on email: info@corpinconsultants.com or call +971558432911 for your free consultation today!

DMCC Consultant Awards 2022, Corpin Consultants, DMCC
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Corpin Consultants Celebrates Success at DMCC Consultant Awards 2022, Recognized for Exceptional Client Service and Expertise

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Corpin Consultants Celebrates Success at DMCC Consultant Awards 2022, Recognized for Exceptional Client Service and Expertise We are so excited to announce with you all a happy news! Corpin Consultants has once again received a recognition award from DMCC, the world’s flagship freezone. DMCC – and Government of Dubai Authority on commodities trade and enterprise – has hosted the 2022 edition of the DMCC Consultant Awards to recognise the outstanding contribution by business consultants in attracting company setup and expanding their operations at DMCC. Headquartered in Dubai, Dubai Multi Commodities Centre is the world’s most interconnected Free Zone, and the leading trade and enterprise hub for commodities. Every year, DMCC hosts this event to appreciate the outstanding performance of its ever-growing network of partners and consultants that attracts company registrations to the free zone. The event focuses on the significance of DMCC’s partnerships with numerous stakeholders that try to establish Dubai as a global trade hub and raise the reputation of the Emirate on an international level. The 2022 DMCC Consultant Awards were held on 8th March at The Address, Dubai Marina. In 2022, DMCC recorded the highest-ever figure for new company incorporations in a single year, with more than 3000 businesses setting up in the free zone. A diverse range of geographies and industries were represented in these new member companies, reflecting DMCC’s ability to increase the ease of setting up and doing business in Dubai for a company of any size and sector, and its ability to facilitate and promote global trade. We at Corpin Consultants dedicate this award to our loyal clients who always inspires us to work harder and give our best. This accomplishment wouldn’t have been possible without your support. Thank you all from the bottom of our hearts and we assure to meet your expectations in the future too!

Dubai Silicon Oasis Freezone business setup, freezone business setup, Corpin Consultants
Business Setup

Your Ultimate Free Zone Guide: Dubai Silicon Oasis Free Zone

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Your Ultimate Free Zone Guide: Dubai Silicon Oasis Free Zone Established in 2003, Dubai Silicon Oasis Free zone is a center of electronic research, innovation, and development. It is one of the best IT and technology free zones in Dubai. Spanning over an area of 7.2 square kilometers, this free zone is located in Nadd Hessa, near the intersection of Dubai–Al-Ain Road and Sheikh Mohammed Bin Zayed Road. If you’re planning to expand your business in Dubai or set up a new company in Free zone with a state-of-the-art infrastructure, Dubai Silicon Oasis Free Zone is the perfect destination for you. Benefits of Setting Up Your Company in Dubai Silicon Oasis Free Zone 100% Business Ownership: Dubai Silicon Oasis Free zone offers 100% ownership for expats. 100% Profit and Capital Repatriation: Being an expat, you can remit all profits to your home country. Investor-Friendly Services: Dubai Silicon Oasis Free zone offers a business-friendly environment for startups with venture capital assistance and many other provisions. Strategic Location: Strategically located, a few minutes away from airports and seaports, this free zone ensures easy connectivity for travel and trade. Dedicated Business Support Services: This free zone offers an integrated online system of E-Business that efficiently serves tenants within a few clicks. Flexibility For All Activities: Dubai Silicon Oasis Free zone is open to all DED-permitted business activities and is suitable for setting up free zone companies, entities, and branch offices. Wide Range of Leasing Options: This free zone offers a wide range of commercial space options right from fully-equipped offices to land for development. Less Setup and Operational Costs: Another great attraction of this free zone is it’s 30% reduced set-up cost for technology companies and low operational costs. No Export and Import Duty: Import or export tax is not applicable in Dubai Silicon Oasis. World-Class Infrastructure: World-class infrastructure with advanced IT network and facilities with tier 3 data center. Types of Business Entities in Dubai Silicon Oasis Free Zone Branch Office of a Foreign Company: The branch office will perform the activity of the parent company only in this free zone. Free Zone Establishment (FZE): This establishment is formed by a single shareholder. The shareholder can be an individual or a corporate body. Free Zone Company (FZCO): This company is established with limited shareholders who can be either individuals or corporations. Dubai Silicon Oasis Freezone Business Setup Process Choose the Activity – Select the right kind of activity based on your business. Select a Corporate Entity – Choose from business entity options such as FZE, FZCO, or branch office. Choose a Suitable Name – Select a company name following the government guidelines. Submit the Documents – Submit all necessary documents for initial approval. Make the Payment – Pay the required fees along with the submission of documents. Collect and Sign the Documents – An e-agreement will be issued, along with the lease agreement and a digital agreement will be sent to your registered email id. You may need to sign this lease and submit it to the authority along with a bank share capital letter. Obtain the License – An e-license and e-registration will be issued to you. Open a Company Bank Account – The final step is to open a company bank account for easy transactions. Document Requirements for Initial Approval in Dubai Silicon Oasis Free Zone A duly filled application form. Investment Plan of the company. Latest Financial Report for Branch and Audit of a non-individual shareholder; if accessible or Bank Reference letter of the individual shareholder. Power of Attorney, if required. Project Summary Letter. Passport copy of shareholders and manager. The Memorandum Copy, Articles of Association and Certificate of Incorporation. Trade License of the parent company. NOC from current sponsor (if required). A duly-filled Acknowledgement Form. Title Deed. Office Tenancy Contract. If you wish to setup a company in Dubai Silicon Oasis Free zone, contact CORPIN CONSULTANTS, we have experts with years of experience in business incorporation. We make sure that there are no delays or errors in your application process and set up the company or open a branch office for you. Call us today to know more.

Dubai Knowledge Village Freezone (DKV)
Blogs

Your Ultimate Free Zone Guide: Dubai Knowledge Village (DKV) Free Zone

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Your Ultimate Free Zone Guide: Dubai Knowledge Village (DKV) Free Zone Dubai Knowledge Village is the only free zone in the world which is solely dedicated to human resource management, professional development, and educational intelligence. It was formed in the year 2003 by TECOM group. By establishing this free zone, the UAE aims to become a knowledge-based economy and expand its talent pool in the region. With more than 450 company partners, this freezone becomes a center of excellence for business development. Dubai Knowledge Village Free Zone is located at an area of about 1 kilometer in the heart of Dubai. Benefits of Setting up your Company in Dubai Knowledge Village (DKV) Free Zone 100% foreign ownership. 100% repatriation of capital and profits. No customs duty for goods and services. Supportive operational process. Investors can easily open bank accounts. Physical presence not mandatory in the UAE to set up a company (presenting a POA is enough). Full confidentiality. Eligibility to apply UAE residency visas. A tax-free stay for a period of about 50 years. No restrictions on the number of shareholders and subject to the approval of the authority. External approvals are not there & subject to standard prices by the concerned authorities. World- Class infrastructure and support services. First-rated lifestyle and easy access to coffee shops, supermarkets and other retail shops. Ultra-modern Conference halls and meeting rooms. Types of Business Entities in Knowledge Village Free Zone There are three types of companies in Knowledge Village Free Zone. Free Zone Limited Liability Company (FZ-LLC): Incorporated as a separate legal entity with individual shareholders or corporate entities. Branch of a Foreign Company: A branch is an overseas company that is legally obliged to its parent company. Freelancer: A freelancer can offer products or services under one’s name. Dubai Knowledge Village (DKV) Free Zone Business Setup Process In order to set up a business at Dubai Knowledge Village Free Zone, follow these below-mentioned steps: Obtaining Initial Approval Register your trade name and take approval from the Dubai Technology and Media Free Zone Authority. A duly-filled application form along with the relevant documents need to be submitted for company registration. Fee Payment Dubai Technology and Media Free Zone Authority will review the documents and the application form. After this, sign and return the customer confirmation letter and make the payment. Signing of MOA and AOA Signing of Memorandum of Association (MOA) and Articles of Association (MOA). Share Capital Deposit the required amount of share capital. Company Registration After reviewing everything, you will be provided the Certificate of Incorporation. Opening a Corporate Bank Account Once all the above steps are completed, you can open a bank account in the company’s name, deposit a share capital, and take proof of capital letter to the Dubai Knowledge Village. Collect the License Finally, visit the TECOM Leasing Department to sign the lease and personnel sponsorship agreement and obtain the license. Document Requirements for Business Setup in Dubai Knowledge Village Application for company registration. Original company incorporation certificate. Details of shareholder(s). Proof of share capital from the bank or trust. No Objection Certificate for managers from UAE sponsor. Copy of passport and specimen signature of shareholder and manager. Certificate of Authorization for GSO. Board resolution for company formation. Memorandum and Articles of Association of the parent company (in case of a branch office). If you require any assistance regarding company incorporation in Dubai Knowledge Village or setting up a branch office, we at CORPIN can assist you. We can make the entire process hassle-free and pleasant for you. Get in touch with us today, we are happy to help you!

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