Sole proprietorship in UAE
Freezone
Setting up a Sole Proprietorship in UAE with Highgate Business Management Consultants
Are you considering setting up a business in the UAE? The UAE has one of the most modern legislation that allows simple business setup for both small and large investors. A Sole proprietorship in UAE is a legal entity owned or operated by a single individual with a trade license issued in his/her own name. Highgate Business Management Consultants can help you with incorporating a Sole Establishment in Dubai or anywhere in the United Arab Emirates.
Key steps to setting up a Sole Proprietorship in UAE
If you are interested in setting up a Sole proprietorship business in UAE, there are some key steps to follow. Firstly, a Sole proprietorship business in UAE requires a local service agent, which is either a UAE national or company completely owned by UAE nationals. At Highgate Business Management Consultants, we have created 100% UAE-owned LLCs that are fully managed and controlled through power of attorneys or similar legal agreements. Such companies act as Local Service Agents (LSA).
The documents required for registration and approval will include the shareholder passport copy, UAE resident visa copy (if necessary), NOC certificate from current resident visa sponsor, proof of educational qualification, professional experience, and general manager passport copy.
Advantages of a Sole Proprietorship in UAE or an Establishment
One of the biggest advantages of setting up a Sole Proprietorship in UAE or an Establishment is that foreign professionals retain complete ownership of their business. Companies can legally practice professional services anywhere in UAE, including the free zones. You also have the flexibility to choose your preferred location to rent or buy office premises. Additionally, the UAE government has waived the paid-up capital requirements.
Sole Proprietorship in Dubai
Usually, sole proprietorship in Dubai can be set up by both foreign and local citizens in the Emirate. Establishing a sole proprietorship in Dubai requires a UAE national or national of the GCC. Foreign entrepreneurs who wish to open sole establishments in Dubai will require a local sponsor with a residence permit. In such a case, the sponsor can be a Dubai Company or national.
At Highgate Business Management Consultants, we have a track record of having helped entrepreneurs establish their businesses on the mainland as well as in free zones. Our friendly company formation experts guide you patiently through the paperwork so that your application for a Business License is approved in record time. We are backed by a team of knowledgeable legal experts who ensure that everything is above board, leaving you to focus on running your business.
Our professional accountants and audit experts are also on board to assist you with all your financial accounting needs. An Annual Audit is mandatory for all companies set up on the mainland, and our solutions have been helpful to many.
Contact Highgate Business Management Consultants for more details on setting up a Sole Proprietorship in UAE.
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