Corpin Consultants

Blogs

Metaverse: Future of Digital Business
Blogs

What is Metaverse and How it can Transform the Future of Digital Business?

/

What is Metaverse and How it can Transform the Future of Digital Business? Metaverse is the latest buzzword that is supposed to transform the future of digital businesses. It is basically a virtual space where users meet, network, play games, work and shop. It is related to blockchain, NFTs, virtual and augmented reality. NFTs are digital collectibles that can be stored on the blockchain. They can be used as characters, consumables, or other tradeable items in games. Metaverse is a part of the Web3 vision for the future of the Internet which promises a more decentralized and democratic internet in which users own their digital content. One can buy and sell plots in the Metaverse. If a plot becomes popular, owners can benefit from selling advertising space or even engage in event sponsorships. Many big brands and companies are also becoming owners of NFT lands. Few examples of such lands are Meta’s (formerly Facebook), Horizon Worlds, Workrooms, Fortnite, Decentraland, Cryptovoxels, and The Sandbox. Just like investing in stocks of cryptocurrency, there are certain risks associated with Metaverse land too. Therefore, never invest if you are unable to take the associated risks. There are mainly two main ways to buy the land: through an initial land offering (ILO) and on the open market. In an ILO, the developers of a project offer the option to purchase plots directly through an auction. This usually happens before or right after the project goes live. The price is determined based on location and expected future value. Users can choose whether to buy the plots or not at the initial price. If the demand goes high, the plot of land will go to the highest bidder. If you are planning to buy from the open market, always buy metaverse land from reputed and reliable sources as there are scammers out there. It is better to buy directly from platforms such as OpenSea, Binance NFT marketplace. If you have already purchased an NFT before, you already know how to buy land. If not, you will need a cryptocurrency wallet and some cryptocurrency in that. Crypto currency wallets such as Metamask or similar tokens (Ether, MANA, etc.) which can be purchased on exchanges such as Kraken, Binance, etc can be used for buying the land. Never buy land by making direct transfers to someone’s wallet. Metaverse License is mandatory for all who wish to develop and host virtual environments or businesses in the UAE. If you are someone who wish to obtain such a license in Dubai, Corpin Consultants can assist you in the entire process right from planning to execution of your business flawlessly. Get in touch with us for enjoying a smooth transition of your business into a popular metaverse.[/vc_column_text][/vc_column][/vc_row]

open Digital Marketing Company in UAE, corpin consultants
Blogs

How To Open a Digital Marketing Company in the UAE?

/

How To Open a Digital Marketing Company in the UAE? According to several statistical reports, the annual growth rate of UAE’s digital marketing sector is between 25% and 40%. These figures alone consolidate how the industry is going to flourish in the upcoming years. If you are planning to step into this rapidly-growing industry by starting a digital marketing company, this is the right time. In this article, we will guide you on how to open  digital marketing company in UAE. Steps for Starting a Digital Marketing Company Before applying for a Dubai trade license, you should decide where you wish to set up your company whether in the mainland or free zone. If you setup your company in the mainland, you will be free to trade directly with the local market, without hiring the services of a local agent. If you set up the company in a free zone, you won’t have to pay customs tax and get full freedom to repatriate all capital and profits. Select a suitable trade name for your company. Business setup consultants can help you to find out if the name you have chosen is available. If yes, they can reserve that trade name for you in advance. When you apply for company registration and a professional license, this name will be exclusively given to you. Once the trade name is registered and initial approval is obtained, the company may need to undertake the following steps to obtain the digital marketing trade license: Trade Name Reservation with DED. Initial Approval from DED. Prepare any shareholder documents required – if the shareholder is a company – Board Resolution and POA. Draft and notarize the company incorporation documents – MOA and any Shareholder Agreement and GM POA. Rent a commercial space – If you are planning to start your business in the Dubai mainland, you need to apply for license at the Department of Economic Development. If you wish to set up your business in a free zone, then you need to submit the application to the managing authority of that respective free zone. If you are planning to rent office in Dubai mainland, you may need to register a tenancy Agreement with the owner of the premises. This legally valid agreement is also known as Ejari. If you wish to rent an office space in a free zone, then also you may need to enter into a lease Agreement with the respective free zone authority. Acquire any additional regulatory approvals – if necessary for the specific activities on the license. Obtain the final company Trade License from the DED. Register the LLC with UAE Ministry of Labour, Immigration and eChannel for hiring staff and visa issuance. List of Documents Required for Starting a Digital Marketing Company in Dubai Duly filled application form Passport copies of all business partners Copies of stamped resident or visit visa pages Emirates ID of UAE resident shareholders No Objection Certificate from the existing local sponsor, if already a resident of the UAE Payment receipt of trade name reservation The lease agreement document that acts us an address proof Corpin Consultants offer end to end assistance for company formation whether it is obtaining necessary approvals, visa applications, renting office space, or opening bank accounts. We ensure the entire paperwork is error-free so your time and money, both will be saved. Contact us today to know more.[/vc_column_text][/vc_column][/vc_row]

UAE Company Office Requirements
Blogs

What are the Office Requirements for a UAE Company?

/

What are the Office Requirements for a UAE Company? According to UAE law, it is mandatory for all mainland and free zone companies to have a physical office. However, for offshore companies, it is not necessary. Though the cost of hiring an office is high, it still contributes well to the growth of your business, by giving you easy access to tax-free benefits and incentives offered by the UAE government to foreign investors. According to your budget and office requirements, you can select an office in different emirates of UAE for your company.   What type of office do you require? The type of office you require depends on a number of factors such as where your company is registered whether it is a Freezone or mainland, do you require more space for expansion, the duration of your lease, etc. Listed below are the main office space options available in the UAE: Serviced Offices A serviced office is an office that is owned and managed by a third party. The major advantage of renting a serviced office is that you will get all required facilities so you can immediately occupy the space and the cost of all these facilities will be adjusted on a monthly rent. Serviced offices are ideal for those entrepreneurs who wish to operate outside a free zone. If you are planning to reduce your initial setup costs, it is the perfect choice. Freezone Offices If your business is registered in a free zone, these offices are the right choice for you. Most free zone offices require a minimum requirement of space according to the number of employees, nature of the activity, visa eligibility and licensing jurisdiction. Onshore Offices Many options are available for onshore offices, for example, mixed-use dwellings (buildings with residential and commercial tenants), shell and core offices (empty offices that require fitting and decoration) One of the major advantages of renting an onshore office is that you have a choice to negotiate your desired rental period, whereas serviced and free zone offices may require you to sign up a minimum duration of tenancy. Corpin Consultants help entrepreneurs choose the ideal office setup for their business in mainland, freezone and onshore jurisdictions. Our experts help you select the right office according to your requirement and budget. Get in touch with us to know more.

Trademark Registration Benefits
Blogs

Benefits of Trademark Registration

/

Benefits of Trademark Registration A trademark is one of the most important aspects of a company as it sets apart their products and services from others in the market. With trademark registration, your brand will stay protected and prevent anyone from using similar trademarks. The trademark protection in Dubai is offered through the Trademark Law. This law has been applicable since 1992, and it was amended in 2002. If you are a newly established business, it is mandatory to have a trademark registration. Listed below are the benefits of trademark registration: 1. Security for your business A trademark is equally valuable like an immovable asset. It can be used for getting loans from the bank. A trademark will secure your brand from unfair practices such as the use of a similar one by anyone that can lead to confusion in customers. It can be utilized for legal action against infringement. 2. Provides identity and stability for your brand Trademark registration permits you to build a strong presence for your brand in front of consumers. It ensures authenticity and keeps your brand identity and loyalty intact. Trademark permits the smooth functioning of brands without any legal hurdles. It will help you gain a competitive edge and trademarked assets are ideal for marketing, as building awareness about the brand is faster with the registered symbols. 3. Avoid Duplication Trademark Registration enables brands to file a complaint against anyone who misuses their trademark. It prevents counterfeits and helps in dealing with any duplicate products and illegal import or export. It is a valid proof of ownership. When you become an owner of a registered trademark, you will receive the exclusive rights to use that in your marketing initiatives. Corpin Consultants have a team of experts who offer comprehensive support in trademark registration in the UAE. We have assisted numerous clients in the UAE region for managing their intellectual property laws. Feel free to contact us for further information.

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

Setting Up a Food Truck Business In Dubai

/

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

/

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

/

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

/

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.

Blogs, Business

How to establish an IT business in UAE

/

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?

/

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.

Scroll to Top