• +971 56 219 3732 / +971 4240 6939
  • info@blackswanbss.com
  • Dubai
  • Oman
09:00 AM – 7:00 PM
Sunday – CLOSED
+971 56 219 3732
+971 4 240 6939
Dubai - UAE
Muscat - Oman
Cybercity - Mauritius

Category Archives: Business

Black Swan   →  Blog   →  Business
Setup Business in Oman with 100% foreign ownership
Categories Business, Business Setup, company formation, Oman

Setup Business in Oman with 100% foreign ownership

Setup Business in Oman with 100% foreign ownership: Under Foreign Capital Investment Law that has been introduced recently on 7th January, 2020, Oman companies can now enjoy 100% foreign ownership, except few services and trades in the Sultanate. There are about 37 commercial activities that have been prohibited for 100% foreign ownership. It includes transportation, photocopying & translation services, laundry, tailoring, automotive and vehicle repairs, selling of drinking water, recruitment & manpower services, salon & hairdressing services, fishing, taxi operation, rehab homes for orphans, disabled and the elderly. This blacklisted area only share a small part of the Omani Sultanate economy. A legal expert based in Muscat is of the opinion that the new law introduced by the Royal Decree 50/2019 (FCIL), new sectors are promised for 100% foreign investments. Addleshaw Goddard Oman, Corporate Law specialists and Head of Corporate Oliver Stevens (Pictured) said, “Significant steps have been taken by the MOCI (Commerce & Industry Ministry) to modernize the new FCIL, so as to facilitate smooth, investment friendly regulatory authority in Oman. We are informed that the law allows all companies that are established in Oman with 100% foreign ownership, besides those practicing activities mentioned within the recently circulated ‘blacklist’. He further added, “The blacklist specifies 37 activities not including segments which previously were stringent in Oman ownership requirements like restaurants, gas, oil and defence. Emphasizing upon the significance of the new statute towards fulfilling Oman’s ambitions to boost foreign investment inflow, he noted that Oman market on introduction of the FCIL will only be placed in a much stronger position. Now, foreign investors are welcomed openly and there is a robust regulatory framework to conduct business.” He also pointed out that minimum share capital is not stipulated by the FCIL. “In what is believed to be a significant impact upon Oman’s foreign investment landscape, previous practices needing companies having 1+ foreign shareholders to own RO 150,000 (approx. $390,000) minimum starting share capital has been relaxed. It is essential to note that registration fees for such companies are higher at the Ministry than what they were previously and begins at RO 3,000 (approx. $7,800), subjected to increase, which again depends upon the new company’s proposed share capital. Stevens further added, “As Executive Regulations get issued later this year, further clarity can be had pertaining to the specific provisions made in the new law.”
You will also be interested on:

Get a Proposal Today

Categories Business, Business Setup, dubai, uae, Video

What are some common mistakes when setting up a business in Dubai

What are some common mistakes when setting up a business in Dubai - Call or WhatsApp +971 55 663 5965 Subscribe to our YouTube channel: https://www.youtube.com/channel/UCfRURTYPdFSygpy1h6wGzBQ At Black Swan we provide a simple, straightforward and effortless approach for setting up your Business. We are a team of dedicated, practical and highly skilled professionals providing exactly what your business needs and are ready to run the extra mile for providing 100% client satisfaction. VISIT US: Website : https://bss.blackswanbss.com/ Official Blog : https://bss.blackswanbss.com/updates/ Facebook : https://www.facebook.com/blackswan201/ Twitter : https://twitter.com/BlackSwanBSS Instagram : https://www.instagram.com/blackswan_businesssetup/ LinkedIn : https://www.linkedin.com/company/black-swan-business-set-up-services  
Influencer License in Dubai
Categories Business, Business Setup, dubai, License, uae

Influencer License in Dubai, UAE

A transition has been witnessed in influencer marketing from a niche for luxury brands to an effective channel with mass-market appeal in the last decade. Unlike the traditional methods of promotion, influencers today market every product and service with greater reach. There is a queue of brands to market their wares on this most modern of platforms. Globally, The estimated worth of the influencer market is almost USD 5bn and between now and 2025is expected to grow by 25%. Here in the UAE, for a social media campaign, influencers regularly charge between USD 1,000 and 10,000, with up to USD 50,000 spent by some companies on a single ad. The influencer market is regulated with license thereby making the companies more confident. Getting a UAE influencer license can be quick and easy with an apt support,

How to Get Your Influencer License in the UAE?

There are few steps to be followed to apply for your social media influencer license.
  • Outline your business activities. Every activity that applies to your business should be listed out failing which can lead to fines or even license revocation.
  • When starting up as an influencer, ‘Marketing Services Via Social Media’ should be the prime activity. To promote and market their products and services via social media applications, the license gives permission. To attract and retain customers, a plan is prepared along with purchasing an advertising space.
  • Choosing a company name is the next step in accordance with naming conventions like, no blasphemous or offensive language, no references to well-known institutions or any abbreviations of your name.
A legal entity like FZE or LLC has to be attached with no resemblance to any other company. Black Swan will help you with these initial decisions.

Applying For Your Influencer License In Dubai

You can now apply for your influencer or social media license in UAE, with your admin taken care of. A trade license has to be issued by the DED to work in this field, along with approval from the National Media Council (NMC). Black Swan can manage the entire process for you to ensure smooth running. We’ll require the following documents to make your trade and NMC license applications on your behalf, A copy of your signature A No Objection Certificate from your current employer (if applicable) Emirates ID photocopy Passport photocopy Trade license photocopy (for NMC application) They can also help you apply for your UAE visa and Emirates ID which involves four stages including a medical fitness test and biometric capturing that usually takes less than a week. You can also sponsor others such as children, a spouse or domestic staff for their visas being holders of a UAE business license.

How Much Does An Influencer License Cost?

The overhead charges of an influencer license are low. Cost of license from the Dubai Department of Economic Development (DED) is AED 20,000 to AED 25,000 whereas UAE free zone applications may also include the cost of your visa.
What You Need To Know About Starting Your Company In The UAE
Categories Business, company, uae

What You Need To Know About Starting Your Company In The UAE

To start a company in the UAE, you need to go over the basics as usual - selecting a business activity, your jurisdiction, nature of the business, licensing, registration, getting approval, etc. This is practically common knowledge now. But more often than not, in following the nitty-gritty of the business setup procedure, one overlooks several details that may affect the functioning of the company in the long run.

Consultation

It is best to get expert advise from professionals who excel in the field of analysis of the market. Decisive Zone experts will help breakdown the financial and administrative aspects, and will also guide in the field of jurisdictions to choose. This process must be done beforehand, kind of like a layout of what needs to be done eventually.

Market Study

Starting a business in this day and age can bring some problems to the brim in the field of innovation. If picking up a field/product/service that already exists in the market, ensure you address areas that are overlooked by other businesses. When you market your product/service, highlight the overlooked factor that you now have fixed.

Location Check

Many new businessmen think of setting up in Dubai Free Zones as beneficial because of its many advantages such as exemptions on corporate and personal tax, no customs duties on exports and imports from free zones, etc. But what one misses out on is that you cannot expand into the rest of UAE, and will have to renew the business license every year. So choosing location wisely is important, depending on how you want to conduct the business.

Public Relations

While setting up a business, needless to say, there are a thousand things to take care of. It may seem a bit overwhelming to have to do it by yourself. Hiring a Public Relations Officer, who has expertise inefficiently filing paperwork and getting documentation done would help. A PRO would also devise certain strategies to take your business forward in a unique way. Ensure that your PRO aligns with your ideologies.

External Approvals

The Department of Economic Development (DED) usually deals with giving trade licenses to businesses to conduct business-related activities. At times, external approval is needed to start the business, depending on your field. They usually come from NGOs and semi-government bodies.

Naming the Company

There are several restrictions on what the company name can be, and one must ensure to follow all the rules. The company name cannot have resemblance to any other established brands or any name of a country. It cannot be named after a tribe or a person.

Choosing a Bank

While approaching a corporate bank, make sure their institutional restrictions don’t hinder your business activities. Research what bank will provide you most benefits. Need Help for Company Formation in UAE ?

Get a Proposal Today

business-setup-process-in-oman
Categories Business, Business Setup, Oman

Business Setup Process in Oman

Starting a Business in Oman, like other GCC countries involves certain steps that need to be cleared appropriately. Let’s start by taking a look at the basic requirements before turning on to the specific processes.

Requirements to Register a Company in Oman

  • A minimum capital requirement of OMR 150,000
  • At least 2 Shareholders
  • A registered office address
  • One or more Directors of any nationality

Company Registration Process in Oman

The business ensemble is given a physical platform by the company formation process. The company Formation process involves certain steps which are to be followed for the incorporation and the post-incorporation process to set up a business entity in Oman.

INCORPORATION PROCESS

  • Documentation

The first and foremost step where all the documents necessary are submitted for the initiation of business. The necessary documents necessary are listed below
  • Shareholders identity card
  • Shareholders visa and passport
  • Articles and memorandum for Association
  • Tax Registration Certificate
  • Certificates from Chamber of Commerce and Industry Affiliation
  • Field company Registration form
  • Initial deposit certificate
  • Opening a Capital Account
After submitting the required documents, a capital account is opened to deposit the initial incorporation fee

  • Incorporation

Incorporation involves the submission of the following essentials
  • Approval from municipality
  • Legalized opening forms
  • Certificate of share capital

POST-INCORPORATION PROCESS

The post-incorporation process involves the following steps

  • Application for Visa

After the incorporation process, it is mandatory to apply for visa services for all the employees. Visa consultants can assist you in availing visa at a swift pace.

  • Registration of Employees

It is necessary to acknowledge the employees as part of your organization and hence you need to register the employees under the company name.

  • Bank Account Conversion

In order to ease business transactions, you will have to convert your capital account to the current account. You will also be interested on:

Setup your Business Today!

United-Arab-Emirate's-100%-Foreign-Ownership-Rule
Categories Business, dubai, uae

United Arab Emirate’s 100% Foreign Ownership Rule

A new law was announced in 2021 permitting 100% foreign ownership in the United Arab Emirates. This law grants foreign ownership in mainland or “onshore” businesses. The traditional law only allowed 49% of foreign ownership. The 100% foreign ownership was permitted only in free zones or while setting up the professional services company. The milestone economic reform for the United Arab Emirates has the law to increase FDI in the United Arab Emirates by 15-20%. It's the best time to invest in the United Arab Emirates. UAE is seen as the gateway to international business opportunities and even more. This country is known for their pro-business culture and conducive infrastructure of foreign investment. UAE is inclined towards a political climate extremely favourable for investments. The benefits are zero corporate taxes of the gained profits and complete exemption of income tax. Currently, there are endless opportunities with the new reform that benefits UAE’s economy and foreign investors alike.

The reason to choose mainland over free zone foreign investment

The free zone areas have some restrictions when it comes to foreign investments. When the tax and customs benefits are lucrative, the restrictions complicate things for first-time entrepreneurs. Restrictions like staff numbers and ownership of spaces are absent when you invest in the mainland business setup.

The company formation in UAE is now simpler for foreign entrepreneurs

Sectors that directly benefit from the new law are artificial intelligence, renewable energy, technology and space. With the traditional law, foreign investors work closely with local sponsors for their mainland business. New law removes this obligation. When you are an entrepreneur looking to invest in the UAE, you get more autonomy now. So you can directly focus on your company formation without worrying much. This shall increase productivity and explore added avenues to make profits.

Guiding to benefit from UAE’s new foreign ownership rule

The mainland business setup is preferred over the free zone business setup because of various reasons. This has increased access to the world market as a lucrative enough offer for many. The new law also has few restrictions imposed on free zone businesses. You must be guided by professional consultants when you are a first-time investor. The professionals make the process seamless and hassle-free, making you choose the best UAE destination for your business. Select the best assistance to guide your company formation in the mainland Emirate. Grow your business to new heights by making the most of the new foreign ownership law.
Categories Business, Business Setup, dubai, uae

Do I need to rent an office in Dubai?

For company formation, renting an office is mandatory. official business address cannot be designated to a private residence. Different types of offices are available which are subjected to the competent authority. workstations in an open-plan office of a business center, already fitted out offices or shell and core premises to warehouses with attached office space are various options. you cannot only rent commercial spaces but also buy them which is subject to the location of the company and the individual case.
Most Profitable Businesses to Open in Dubai 2021 - 2022
Categories Business, Business Setup, dubai, uae

Most Profitable Businesses to Open in Dubai 2021 – 2022

UAE exhibits different ideas than the rest of the Middle East. They rely less on oil production, knowing they would run out someday. UAE imparts trades and merchants with startup opportunities and investment for UAE's booming entrepreneurship. The United Arab Emirates is an ideal place to start your business. Based on the World Bank's Ease of Doing Business 2020 report, setting up a business in UAE is easier than in other Middle East countries. It takes only eight days and simple procedures to start a company in the UAE. Dubai is the best place for the UAE to invest because of its healthy business climate and abundance of resources. Dubai rulers are working hard to improve the business environment and provide opportunities for investors.

Best Businesses to do in Dubai

Construction

The construction of skyscrapers and high-rise buildings is not slowing down in Dubai. New buildings are erected with every passing day. Huge opportunities are open for architects, engineers, construction firms, real estate developers and various professionals of the sector. The investor can set up a real estate development firm or manufacturing business to sell materials used in construction.

Handyman services

The handyman service business is in higher demand as people look for trusted agencies and skilled workers. Start the business with individual services of a small job for the clients. The working area of the handyman needs plumbing, maintenance, repair and other electrical jobs to offer different services to your clients.

Beauty and Hair Salon

The residents of Dubai are conscious when it comes to beauty and fashion. Set up a ladies beauty salon in Dubai to provide services for beauty, hair, feet, nails and face. You must know the requirements of business and know Dubai's fashion trends.

Real Estate Agents

The increasing number of expats increases the real estate affairs like selling, buying and renting of properties in Dubai. Residents have trustworthy agents to make property dealings. You must get advice from the consultancy agency and get the required licenses by authorities.

Oil and Gas

The oil and gas industry of Dubai has operations like extraction, transportation, exploration and distribution that generates revenue for investors. The business startup needs thoughtful planning to start a business in the industry.

Travel and Tourism

Opportunities for tourism includes business tourism, sports tourism, shopping tourism, medical tourism and cultural tourism. Other things related to tourism are food services, hotels, restaurants, transportation and photography. Travel and tourism emerges as a powerful industry with an annual economic impact of 6.5 trillion U.S dollars worldwide.Start a travel and tourism industry that makes profitable ventures for passionate entrepreneurs.

Job Agencies

Many expats come to UAE in search of good job opportunities. Open a job providing agency in Dubai to connect companies and job seekers to use your channel. The Job Recruitment Agency Company can be started with ease and minimal investment.

Webpreneur

Internet marketing, e-commerce, web development, mobile and online businesses are the trending sector for investments. E-commerce stores thrive more for businesses to go online. The digitization of the United Arab Emirates is growing and continues to provide more opportunities for webpreneurs.

Online Tyre Trading Business

All prestigious car brands wander on the roads of Dubai. It gives rise to unique business opportunities for online tyre traders. The total worth of the tire market in UAE is valued at $ 220 million in 2019 and may cross $ 420 million by 2025. The Pioneer of the industry is PitStop Arabia, one of the leading online tire shops of Dubai.

Business Consultancy Services

Business setup services and Business consultancy are the profitable business of Dubai. Get the license for the business from the authorities.

Setup your Business Today!

How to Start a Real Estate Business in Dubai
Categories Business

How to Start a Real Estate Business in Dubai, UAE

A fantastic place to own real estate is Dubai. Returns from high-standard properties are higher than many other property hot spots. As the tourism industry is thriving and the upcoming Expo is yet to arrive on the shores, this would be a great time to invest in real estate. Great reasons to invest in real estate in Dubai:
  • No annual property taxes
  • No tax on rental income
  • Freedom to repatriate your profits if in a free zone.
A company can best conduct Purchasing and managing property. So your first point of contact should be a company if you are interested in investment. Blackswan can guide you in the entire process.

Steps To Start A Real Estate Company In Dubai

We, at Blackswan, will work with you to decide the best type of setup for your business which may be either mainland or free zone. Business in a free zone is beneficial as it has tax exemptions and other advantages. But one can trade freely in the local UAE market, in mainland business setup. Once the decision is made, we will guide you through the license application process.
Step 1: Choose Your Business Activity
Firstly determine your business activity which will depend on the type of real estate company that you wish to run. That could be holding property or acting as a property manager or real estate broker.
Step 2: Choosing Your Company Name
Choosing a company name is the next step in accordance with naming conventions like, no blasphemous or offensive language, no references to well-known institutions or any abbreviations of your name. A legal entity like FZE or LLC has to be attached with no resemblance to any other company. Black Swan will help you with these initial decisions.
Step 3: Applying For Your License
There is a slight difference in the license application process whether you set up in the mainland or a free zone. Application should be submitted to the local municipality or Department of Economic Development (DED), if setting up in the mainland and can be applied directly if in a free zone. Additional accreditations may be needed based on the type of business you intend to run. You will need to pass the Certified Training for Real Estate Brokers course issued by the Real Estate Regulatory Authority (RERA) to operate a real estate brokerage.
Step 4: Applying For Your Visa
You can also help you apply for your UAE visa and Emirates ID which involves four stages including a medical fitness test and biometric capturing that usually takes less than a week. You can also sponsor others such as children, a spouse or domestic staff for their visas being holders of a UAE business license.

Documents Required To Start A Real Estate Company In Dubai

Black Swan can manage the entire process for you to ensure smooth running. We’ll require the following documents to make your trade and NMC license applications on your behalf. This includes:
  • Your signed application form
  • A business plan
  • Passport copies of each individual (Shareholder/s and General Manager)
  • Original No Objection Certificate (if required)

What Is The Cost Of Opening A Real Estate Brokerage Company in Dubai?

There are several costs to start a real estate business in Dubai, UAE. The real estate license cost in Dubai ranges from AED 15,000 to AED 25,000, which is inclusive of your residency visa (no need to mention inclusive of residency visa). RERA real estate brokers’ course fee of AED 2,500 (3000) has to be borne if you intend to run a brokerage. After 100% expat ownership law has kicked in even expats can own 100% ownership in real estate brokerage firms.

Start Your Real Estate Business In The UAE With Blackswan

Getting the right guidance beforehand is the key when starting a UAE real estate business. To eliminate any potential hassles that might arise, it is advisable to undertake the steps with the assistance of a registered company. Blackswan can help you get your business up and running within a matter of weeks. Primary transitions and establishment processes, account opening assistance, VAT registration, reinstatement, and renewal services are offered by us. So if you are planning to start a business in Dubai, feel free to talk to Blackswan. Tags: Real Estate business setup in Dubai, Real Estate company formation in Dubai, Real Estate license in Dubai,
Rules for Company Formation in the Dubai Mainland
Categories Business, dubai, News

Rules for Company Formation in the Dubai Mainland

Rules for Company Formation in the Dubai Mainland: Starting a company in the Dubai Mainland comes with the knowledge that there won’t be too many restrictions and regulations while conducting business activities. What is necessary though, is to have a local sponsor. You can maintain a 100% percent ownership but you still have to have a local sponsor as it is legally required for business documentation. If you want to maintain full ownership, the local sponsor has to agree to refrain from interfering in the business activities.

Types of Companies in the Mainland

Limited Liability Company (LLC): The company needs to have a minimum of two shareholders and maximum up to 50. Each shareholder is liable according to the percentage he/she holds. Branch Office: Investors can expand into Dubai and are given an opportunity to set up their branch office in the mainland. Public Shareholding Companies: This type of company is suitable for businesses dealing with large lucrative figures like banking, finance and insurance. Professional Firms/Civil Companies: Owners can choose their field of functioning and can retain a 100%percent ownership. Representative office: Can exist without a shareholder but cannot conduct business activities. Its sole purpose should be research and marketing.

Steps of Incorporation

One should decide the business entity to be formed and get the name approved. The business owner must then start by finding a trustworthy sponsor without whom he cannot start the business. Then comes the drafting of the Memorandum and Articles of Association, followed by submission to seek approval from the Department of Economic Development (DED). Then one should find reasonable, strategic and affordable office space to conduct the business activities out of and geta tenancy contract. The next step is to apply for a trade license. Getting the relevant trade license for your business is important. There are three types: Commercial licenses: These licenses cover all trading activities and are for businesses where 51% of shares are with the UAE National and 49% with the business owner/expat partner. Industrial licenses: These licenses cover all manufacturing and production activities and are for businesses where 51% of shares are with the UAE National and 49% with the business owner/expat partner. Professional licenses: These licenses cover all professional services, craftsmen and artisans and all the shares are held by expat partner only. All that is left to do now is submit all applications and pay the necessary fee, after which you can obtain your license and conduct business activities! Setting up a business in the Dubai Mainland has many advantages such as unrestricted operations, working with government bodies and its open wide presence in the market in and out of UAE.

Setup your Business Today!

1 … 9 10 11 12 13 … 16
en English
ar Arabiczh-CN Chinese (Simplified)nl Dutchen Englisheo Esperantotl Filipinofr Frenchde Germanel Greekhi Hindiit Italianko Koreanpt Portugueseru Russianes Spanish