According to the 2016 Global Investment report (published by UNCTAD), UAE is the 9th largest FDI recipient in Asia. The easy access to oil resources, low energy costs, quality manpower, high purchasing power and a willingness to diversify the economy are major reasons of this status.
First formed in year 1984, Dubai’s company act has undergone many changes till recently updated in November 2015. The new law is named as Federal Law No. 2 of 2015 on Commercial companies. This law incorporates new rules and regulations for those trying to set up companies in Dubai and other Emirates. According to the new act, any company registered in Dubai or the other emirates must have partners who are UAE citizens, and who will own at least 51% of the share capital in the company. Although in the Dubai free zones the investors may incorporate fully foreign owned companies.
All the companies have memorandum of Association legalized by public notary only if it is drafted in Arabic. Foreign investors can draft this memorandum of association in other language as well, provided, they submit a version in Arabic as well while supplying the documents with trade register.
The requirements and procedures for registering a company would be different in different cases depending upon the type of company being opened. Investors may set up Limited liability companies, private and public joint stock company, partnerships, joint offices, subsidiaries, free zone limited liability companies, free zone establishments or sole proprietorship. For all such legal requirements, foreign investors search for capable Company incorporation services in Dubai. Also, there are various providers of company incorporation services in UAE, for various other zones and areas in Emirates.
Dubai is also favourable when it comes to technology. It is easy for companies to set up and pick up their IT operations in a jiffy. Be it a Software or IT companies seeking heft IT operations and projects or be it a service or a manufacturing firm seeking out for customised ERP softwares in Dubai, the ICT advancement of Dubai and Emirates is capable of taking care of all requirements.
As a step towards such advancement, Dubai Internet City is set up as a strategic base for IT companies targeting regional emerging markets.
The resource and infrastructure favourability and the positive outlook of government towards FDI are making all the difference UAE needs to attract foreign investments
First formed in year 1984, Dubai’s company act has undergone many changes till recently updated in November 2015. The new law is named as Federal Law No. 2 of 2015 on Commercial companies. This law incorporates new rules and regulations for those trying to set up companies in Dubai and other Emirates. According to the new act, any company registered in Dubai or the other emirates must have partners who are UAE citizens, and who will own at least 51% of the share capital in the company. Although in the Dubai free zones the investors may incorporate fully foreign owned companies.
All the companies have memorandum of Association legalized by public notary only if it is drafted in Arabic. Foreign investors can draft this memorandum of association in other language as well, provided, they submit a version in Arabic as well while supplying the documents with trade register.
The requirements and procedures for registering a company would be different in different cases depending upon the type of company being opened. Investors may set up Limited liability companies, private and public joint stock company, partnerships, joint offices, subsidiaries, free zone limited liability companies, free zone establishments or sole proprietorship. For all such legal requirements, foreign investors search for capable Company incorporation services in Dubai. Also, there are various providers of company incorporation services in UAE, for various other zones and areas in Emirates.
Dubai is also favourable when it comes to technology. It is easy for companies to set up and pick up their IT operations in a jiffy. Be it a Software or IT companies seeking heft IT operations and projects or be it a service or a manufacturing firm seeking out for customised ERP softwares in Dubai, the ICT advancement of Dubai and Emirates is capable of taking care of all requirements.
As a step towards such advancement, Dubai Internet City is set up as a strategic base for IT companies targeting regional emerging markets.
The resource and infrastructure favourability and the positive outlook of government towards FDI are making all the difference UAE needs to attract foreign investments
Related Post: https://digital-marketting.blogspot.com/2020/01/differences-between-erp-software-in.html
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