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.