Dubai CommerCity Company Formation

Benefits of Forming a Dubai CommerCity Company

There are a number of reasons why Dubai is such a popular place for people all over the world to form their Offshore Companies, including;

• Directors and Shareholders – Directors and Shareholders may reside anywhere in the world.
• Limited Currency Restrictions.
• Large categories of permitted business and professional activities available.
• Well-built infrastructure for Office and Residence flexi desk, serviced office,
  and shared offices.
• Available Facilities for residency, Visa and work permits for employees and shareholders.

Requirements to Form a Dubai CommerCity Company in UAE

In order to incorporate your Dubai CommerCity Company, these are the steps that must be followed;

• • Choose Your Package –
    • The Standard Package includes the use of a ‘Flexi Desk’ which is the minimum form of Office Service. Please note that additional Office Facilities are available upon request, or as required by virtue of your chosen business activity. Following review of your activity, we will advise whether additional forms of Office Service are required.
    • The Standard Package permits use of three Business Activities from a Business Activity group. If your Company intends to provide multiple activities, additional government authorisations may need to be sought.
    • The Standard Package permits the use of individual Shareholders and Directors. Should you intend to appoint a Corporate Entity Shareholder or Director, we will contact you to advise on the additional requirements.
    • Should you desire Banking within UAE, ordinarily a physical visit is required, along with the procurement of a Residency Visa, Emirates ID Card and Medical Fitness Certificate. Please contact us for the Visa Application Costs. Please further note that Local Medical Insurance is required, together with Employee Protection Insurance, to be taken out directly with a local insurer.
  • Place your order – You need to use a Company Formation Agent to submit the necessary documentation to the Registry on your behalf. Payment needs to be made to the Registry on submission of the registration documents so our fee must be paid when the order is placed.
  • Meet the Anti Money Laundering Requirements – In order to meet Anti Money Laundering Requirements we need to obtain a copy of the passport and current utility bill of each of the owners and shareholders. This is required even if you are using our Nominee Service. Certified copies may also be required.
  • Documents are issued to you – Once the Registry has incorporated the company, we will issue you with the Certificate of Incorporation, Articles of Incorporation, Licence, Share Certificates and all other company documents as required by Law. These documents can then be used to open a bank account for the company.

Post-Licencing Requirements for a Dubai CommerCity Company

• • Share Capital Deposit –   Depending on the Type of Licence your Company will obtain, the Company may be required to maintain a paid up Share Capital of up to AED100,000.00 and it may be required to provide proof of this Capital Deposit in the Company’s Business Account to the Freezone Authority, in order for the Company to remain Active. Such requirements can be advised upon once your activity/licence is chosen.
  • Financial Year and Audited Financial Statements – Audited Financial Statements are required to be maintained and lodged with the Freezone Authority, annually.
  • UAE Corporate Tax – All Companies in UAE must Register for Corporate Tax. We will contact you following formation to advise on the applicable fees for the application. Corporate Tax Returns must be filed within 9 months of the end of the financial period. The Corporate Tax Rates are 0% on taxable income up to AED 375,000.00 and 9% on taxable income exceeding AED 375,000.00.

Please note that information given on this page is subject to change at any time without notice as a consequence of changes made in local legislation.