Registration of a company in the UAE

Taxation in the UAE

The UAE (United Arab Emirates) is a country that attracts entrepreneurs from all over the world due to its lucrative business environment and developed economy. 

If you are looking for a jurisdiction to do business in: 

  • with access to markets in Asia, Africa and Europe;
  • having a favourable economic environment, with little bureaucracy and no restrictions on the movement of capital and profits;
  • with a well-developed financial infrastructure: many large banks, insurance companies and investment funds;
  • opportunity for tax optimization.

We recommend to consider registering a company with a bank account in the United Arab Emirates.

The advantages of the UAE over other countries: 

  • companies registered in the free zone can enjoy tax preferences such as exemption from income tax, value added tax (VAT), etc.;
  • a closed registry of beneficiaries; 
  • are a member of the international community and have a number of bilateral and multilateral double taxation treaties.
  • 100% foreign capital - free zone companies can be run by foreign companies or individuals, without the need for local partners or sponsors.

The lawyers of Intelligent Solution Group offer clients a comprehensive business solution, which includes:

  • company registration;
  • obtaining Emirates ID (UAE ID card); 
  • opening a corporate account with a local bank.

If you wish, we can help you open a private bank account in the United Arab Emirates.

Personal presence is required to obtain an Emirates ID. There is no need to worry; our company employees will take care of the process: they will take care of all paperwork and negotiations with UAE governmental authorities.

Company registration in the free zone usually takes from several days to several weeks depending on the chosen zone and the type of company. 

The stages of company registration and opening a corporate bank account in UAE which the specialists of Intelligent Solution Group will help you to go through

Step. 1. We are going to study the details of your case:

  • business scope;
  • geography of contractors
  • residence of the beneficiaries;
  • planned minimum bank balance and transaction currencies;
  •  projected company turnover.

Step 2. If Emirates is indeed the best solution for your business, we will choose the legal form of the company.

Step 3. We will check and prepare the necessary package of documents.

Step 4: Submit a request for company registration. Our specialist will do all procedures on your behalf - as a trusted person. As a result you will receive a notification from your personal manager that the process is completed. 

Step 5. After the company registration, we will collect and prepare documents to open a bank account. 

Step 6. We will carry out an in-depth analysis of banks and choose the ones that will meet the requirements of your company in terms of scope of work, turnover, currency. 

Step 7. We will ask several banks for pre-approval to open an account for your company. 

Step 8. We will apply for account opening and accompany you at all stages of negotiations with the bank until the task is completed. 

Step 9. We offer ongoing services: company extension, accounting services, advice on any business issues. 

Registering a company and opening an account in the UAE requires careful preparation and compliance with all rules and requirements. But with the right approach and completion of all necessary steps by the lawyers of Intelligent Solution Group, you can get access to a profitable business environment and market which provides ample opportunities for business development.

What is the Free Zone in the United Arab Emirates?

The Free Zone, or Free Economic Zone, is a special area in the UAE that allows foreign companies to register in the UAE with minimum bureaucratic procedures and tax preferences.

What are the free zones in the United Arab Emirates?

Popular free zones in the UAE:
1. Abu Dhabi Airport Free Zone (AMC) - Located at Abu Dhabi International Airport. Provides companies with the opportunity to deal with exporting, importing, transporting, storing and distributing goods.
2. Sharjah Media City (SHAMS) is located in the Emirate of Sharjah. It specialises in the media sector: film, television, print, advertising, digital media and other media activities.
3. International Free Zone Authority (IFZA) is a free zone located in the Emirate of Fujairah that centres companies involved in various types of trading, manufacturing, construction, IT consulting.
4. Dubai Multi Commodities Centre (DMCC) is a free zone located in Dubai. It specialises in precious metals trading: gold, silver and platinum, as well as other commodities, including diamonds, oil and construction materials.

What documents do I need to open a corporate bank account in the UAE?

  • Emirates ID (identity card/ID card)
  • Company's Articles of Association and certificate of incorporation
  • Copies of passports of all company founders and directors
  • Residence documents of all founders and directors of the company
  • Business plan describing the company's activities and financial projections
  • Details of transactions that the company is planning to carry out through its bank account

Additional documents may be required depending on the nature of the company and its business model. The UAE has strict requirements for banking operations in the country. Banks must follow strict regulations regarding customer due diligence and anti-money laundering and counter-terrorist financing. Therefore, they may carry out enhanced customer due diligence.

What documents are required to register a company in the UAE?

Depending on the chosen form of business, you may need:

  • A copy of the founder's passport
  • Documents confirming residence of the founder
  • Company registration certificate
  • Articles of Association
  • Documents appointing the director of the company

Exact list of documents may vary depending on the legal form and place of incorporation.

What is taxation in the UAE?

Taxation in the UAE is a complex system which depends on the type of business, where the company is incorporated and its status.

Free zone companies in the UAE are generally exempt from taxation for the duration of their licence and are not required to pay corporate income tax, sales tax, value added tax (VAT) and other taxes. However, these companies have to fulfil all the conditions set by the free zone regulators, such as annual audits, income declarations, etc.

Companies registered outside the free zone are subject to the UAE's general tax system. Currently, the federal income tax rate is 0%, separate tax rates have been introduced for companies involved in the oil and gas industry and also for branches of foreign banks, and VAT is 5%.


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