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You've reached this page so more
likely than not, you are considering establishing
a new business or expanding your existing business
to the United Arab Emirates. You've come to the
right source for information and assistance.
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Read more to learn about the
process of establishing your company in the Emirates
and how O2 Ventures can help you “Make it
Happen” for a fraction of the cost and time.
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following page will outline the following: |
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International businesses interested
in developing their activities in the Emirates
will find that our market has a number of attractive
features, as follows:
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Large |
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Despite a relatively small
population (4.1 Million), the UAE's total
imports exceed $37 billion. The reason is
that the UAE is the major re-export centre
for the region.
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Growing |
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The UAE's non-oil imports
have expanded sharply in the recent past.
Many of the economies of the region served
by the UAE are still at a relatively early
stage of development, so there is plenty
of long term scope for diversification and
expansion in the future. Another important
consideration is the UAE's rapidly developing
role as a supplier to such emerging markets
as India, the CIS, Central Asia and South
Africa.
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Diversified |
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There is potential for
almost any type of goods and services. In
the prosperous, but sparsely populated Gulf
states, there is demand for high technology
equipment and luxury products. But, through
its re-export trade, the UAE also reaches
an "outer ring" of less prosperous
markets. This means there are also opportunities
for manufacturers and exporters of less
sophisticated equipment and mass consumer
products.
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Free |
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There are no foreign exchange
controls, quotas or trade barriers. Import
duties are extremely low, and many products
are exempt. There is no income or sales
taxes.
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Accessible |
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The UAE's transport infrastructure
is unrivalled in the region in terms of
size, facilities and efficiency. Its ports
are served by more than 100 shipping lines
and the airports by nearly 100 airlines.
Also, overseas businessmen will find that
their counterparts combine local and regional
expertise with a full understanding of international
business practices. English ranks on a par
with Arabic as the main business language
of business and there are plenty of foreign
banks, lawyers and other advisors - as well
as the Economic Department and the Chamber
of Commerce and Industry to help those wishing
to enter the market.
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Competitive |
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Inevitably, the various
attractions outlined above have caught the
attention of manufacturers and exporters
from around the world. Any exporters seeking
success in the UAE market must ensure that
their products can hold their own in terms
of their price, technology, design and value,
just as in any other market of the world.
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| Summary
of Business Advantages: |
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Free-enterprise
system |
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Highly
developed transport infrastructure |
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State-of-the
art telecommunications |
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Competitive
real-estate costs |
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No
corporate taxes and no income
taxes |
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Sophisticated
financial and services sector |
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Stable
and reliable legal system |
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Top
international exhibition and conference
venues |
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Very
low criminal rates |
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Competitive labor costs |
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No
trade barriers, no foreign exchange
controls |
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Free
Zones with 100-per-cent foreign
ownership and control |
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First-class
hotels, hospitals, schools, shops,
etc. |
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Fixed
exchanged rate (Dhs: US$ 1 = Dh
3.67) |
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Cosmopolitan
western lifestyle combining the
traditions and treasures of the
Arab World |
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The process for establishing
your company varies slightly depending on which
Emirate you wish to establish your business (and
whether or not you decide to establish in a free-zone).
In any case, you will need to complete the below
steps in order to obtain permission to operate
in the United Arab Emirates:
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Obtain Sponsorship
from a UAE National (or apply to a Free-Zone) |
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Rent an office
space |
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Open a bank account and
deposit the initial capital required to
establish your type of entity (LLC, Sole
Proprietorship, Public Shareholding, etc…)
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Apply to the Chamber of
Commerce, Department of Economy and Municipality
(and any applicable Ministry) for a Trade
License
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Apply for a
Labor License at the Ministry of Labor |
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Establishing a business in the
Emirates involves applying to several authorities
(Chamber of Commerce, Municipality, Department
of Economy and any applicable Ministry), setting-up
an office or shop, and verifying that your company
meets the initial capital requirements. Below
are average figures you can expect to encounter:
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| Licensing |
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Trade licensing
- Dhs 7,500 - Dhs 12,500 |
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Labor licensing
- Dhs 4,500 - Dhs 8,500 |
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| Office |
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Typically office
space in the Emirates will fall in the range
of Dhs 300-750 / m2 |
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Capital Requirements |
| Sole
Proprietorship |
Limited
Liability Company |
Foreign
Branches |
Public
Shareholding |
0
(Not applicable to
non-UAE Nationals)
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Dhs 150,000 |
Dhs 250,000 |
> Dhs 1,000,000 |
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verification purposes only) |
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Sponsorship Cost |
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UAE Sponsorship: Sponsors
will usually charge for their services a
sponsorship fee as well as profit sharing
and fees for consulting services. Well established
and connected sponsors will cost more. Sponsors
can be found for as little as Dhs 50,000
/ year and can go upwards of Dhs 1,000,000+
/ year.
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Average Establishments Costs (of doing it yourself) |
| Low-end |
Average |
High-end |
| Dhs
100,000 |
Dhs
500,000 |
Dhs
1,000,000 |
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| Turn-around
time |
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Approximately 45 working days
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O2 Ventures was established to
promote Foreign Direct Investment in the UAE as
well as to help entrepreneurs succeed and accelerate
the commercialization of new ideas, discoveries
and innovations.
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Our business model
has three primary focus areas which are: Joint
Ventures, Consulting Services,
and Business Establishment Services.
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| O2
Ventures Business Establishment Services |
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O2 Ventures has rapidly developed
a positive reputation and we now receive business
proposals from companies and entrepreneurs around
the world. Our value proposition revolves around
our diligence to work only with quality endeavors
and provide partners with best-of-breed services.
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services we provide include: |
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Business sponsorship |
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Joint Venture
Partnerships |
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Market knowledge
and strategic planning |
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High-level contacts
within the Government and business community |
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Cost-effective
and time-efficient establishment of businesses
entering the Emirates |
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Management of
the entire licensing and other registration
processes |
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Strategic networking |
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Consulting
services |
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Office Space
- (fully furnished and equipped - including
dedicated phones lines, high-speed internet
and other shared services) |
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Depending on the nature of your
business venture, we can provide some or all of
the above services; our relationship is tailored
to the client need.
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| What
does O2 Ventures charge? |
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O2 Ventures will help you establish
your business for significantly less than the
amount it would cost doing it yourself, and you
get so much more. We normally charge a fixed sponsorship
fee and a percentage of business turnover. These
amounts will depend on the size and nature of
the business venture as well as the level of services
we will provide.
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To learn more about establishing
your business in the Emirates, please send an
email to info@o2ventures.com
and we will be happy to get back to you.
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| ©
2004 O2 Ventures - All Rights Reserved |
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