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Features of Dubai Silicon Oasis Company
Categories company, company formation, dubai, uae

Features of Dubai Silicon Oasis Company

Dubai’s government formed this exclusive Free Zone in 2004. It has been scaling up since then. DSOA (Dubai Silicon Oasis Authority) is an organization to monitor business activities and to issue licenses. It has a constant focus to develop and expand the zone. DSOA introduces the investor-centric improvements. Incentives and extra advantages are offered by jurisdiction that has the fortifying factor in several expat entrepreneurs. Silicon Park is the first smart city of Dubai, which is located in the Dubai Silicon Oasis. Spaces and best facilities are provided in the IT firms that aids the company to perform and flourish well. Silicon Park is located in the Central Square. The custom-designed buildings give a premium appeal to the companies. Any resident business person or expat can rent the space to establish a main office or headquarters in this enclave. The serviced office space helps businesses to start operations from its first day. Main facilities in Dubai Silicon Oasis Free Zone are:
  • Workstations for IT firms
  • Office spaces
  • Spaces for light industrial activities
The technical hub, office and industrial space are managed by DSOA. The policies and regulations are laid down by the authority that extends optimal growth to businesses in the DSO Free Zone. Types of company available to incorporate in DSO Free Zone: Dubai Silicon Oasis Free Zone authority permits to form various types of companies in the domain. The company setup chosen depends on the viability and development plans.
  • FZE (Free Zone Establishment)- The FZE is set up by an entity or a single shareholder. They don't require more resident partners or expat to incorporate a Free Zone Establishment in DSO.
  • FZC (Free Zone Company)- These companies are formed with two individuals or with the partnership of two, to form a business setup in the free zone.
  • Branch Office- The company with a parent organization is located in the UAE or foreign country to start a branch in DSO Free Zone. The business activities of a branch must be similar to the main organization.

Operating Licenses Of DSO

The companies in DSO should get relevant licenses from its authority. The companies and businesses which are established in the mainland with the license from DED should get an operation permit to function in the DSO.

Types Of Licenses

  • Service License- Entrepreneurs who plan for the service business setup in DSO, should get a service license.
  • Industrial License- There are light industrial spaces in DSO. Companies aiming to assemble and manufacture must require an industrial license in Dubai. It's the basis to import raw components and materials, distribution, packaging of products and exports.
  • Trading License- It includes export, import, warehousing, distribution and re-export that requires a trading license by the business firm from DSO.

Benefits Of Company Formation In DSO

  • Complete ownership of the company
  • No taxes
  • Complete repatriation of profits and capital
  • Exemption from taxes and customs duty
  • Quick business setup
  • State of the art infrastructure
  • Optimal growth prospects in thriving market
  • Low operational costs and Establishment

Documents Needed For DSO Free Zone Company Setup

  • Residency visa page
  • Copy of shareholders' passport
  • NOC from current employer
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How to Set Up a Foreign Owned Company in Oman
Categories Business Setup, company, How To

How to Set Up a Foreign Owned Company in Oman?

Oman Ministry of Commerce And Industry brought in a new Foreign Capital Investment Law effective from 2nd January 2020. It aims to make Oman an attractive investment environment. This law ensures the stability of foreign investment in the country. New Law has many incentives and benefits to foreign investments that provide stability and business flow in the Sultanate which has an impact on economic development.

Requirements For A Complete Foreign Ownership In Oman

Since January 2020, foreign companies, investors and citizens in Oman are able to hold 100% of their businesses in several industries in the mainland of Oman. A few activities of the mainland are reserved for Omanis, other activities need a local Omani partner who has a minority shareholding. There are several Oman Free zone areas. Refer our pages on Oman Free zones for more details. A list of 40 activities are reserved for the Omanis in different sectors like translation services, manpower recruitment and tailoring. These lists are amended by the executive regulations by 30 July 2020.

Consultancy Activities In Oman

All kinds of consultancy activities need a Local Omani shareholder and their requirements remain the same. An investor or foreign company can set up a consultancy office in partnership with an individual or Omani company. The Omani partner must hold 35% of shares in the new company. OMR 150,000 must be available as the proof of funds.

Documents Needed For Individual Shareholders

  • Passport copy of the individual.
For Corporate Shareholders:
  • Trade license
  • Certificate of Incorporation
  • Memorandum of Association
  • Board Resolution and Power of attorney
  • Certificate of equivalent or Incumbency
These documents must be legalized, attested and notarized from the country of origin. Then it is sent to PPG in Oman to get legal translation & stamping in the Country. Business Plan - required by MOCI, the business plan has 3 sections.
  • Investment costs
  • Project description
  • Date to start project
CR application form- It needs the following requirements:
  • Shareholding structure along with nationality and holdings for corporate or individual shareholders.
  • Proposed Company Name.
  • The proposed Company grade ( 4 to 1), and has an excellent grade above 1.
  • OMR of 20,000 for Grade 4 and OMR of 150,000 for Grade 1, and for excellent grade OMR of 250,000.
  • Share capital need not be deposited before the company's opening.
  • The Grade of the company affects the Omanisation requirements and the activities that the company obtains.
  • Confirmation of the Company’s Financial Year.
  • Proposed activities of company.
  • Authorised signs & the manager of the company, who has the level of control in business (from admin to manager).
  • Form is authorised and shared by the shareholders.

Steps To Set Up An Oman's Complete Foreign Owned LLC Company

  • Document preparation
  • Initial approval and trade name (Commercial Registration with MOCI), CR application form and business plan.
  • Chamber of Commerce Registration.
  • Warehouse or Office Lease Arrangement.
  • Need of Completed CR and Lease Agreement- Municipality License Application. In this stage, the company is fully registered.
  • Ministry of Finance Registration (register with MOF for annual audit and tax department).
  • Ministry of Manpower (apply for labour quota and get staff visas).
  • PRO registration in CR to apply for visas with the Royal Oman Police. It is individually named Omani PRO.
  • Extra external approval based on the company's activities. (Oman's Customs registration to trade and import goods).

Fees To Set Up An Oman's Complete Foreign Owned Company

  • Government registration fee - OMR 3500.
  • Cost of the Municipality License depends on the lease values and company's activities.
  • OR 20 for the registration fee of Omani Customs Government.

How Can Black Swan help?

Get in touch with us to set up a 100% foreign owned company in Oman or for share transfers for restructuring existing companies.
Ways to Register a Company in Oman
Categories company, Oman

Ways to Register a Company in Oman

Foreign investors wish to know how to register a branch office or a private limited company in Oman. In the past years, Oman has built up themselves as the main nations for leading the business exchanges within the Middle East. Oman is considered as the dynamic country of the Arabian Peninsula. The economy of Oman is reliant on their oil assets. Recently, the oil business isn't as lucrative as it was in the past. It prompted the legislature of Oman to arrange gas and tourism based businesses as their main stream of income. Also, Oman likes to differentiate their business exchanges and opens up for foreign investors to work. There are some reasons why companies and foreign investors are pulled into Oman to do business. Oman has been the third biggest country of the Arabian Peninsula. Business trades are easy here because of its political stability. The social strength makes remote entrepreneurs to work with no objection. Legislature is centered with monetary advancement and they make a business friendly environment. It prompts foreign investors to inject at the capital of Oman. Foreign investors need to register their companies and make their Oman company run successfully. There are some requirements to register a company in Oman. Some paperwork and documents have to be submitted to the authorities. They are:

Basic Requirements to Register a Company in Oman

  • Minimum of 1 Director
  • Minimum of 2 Shareholders
  • Registered Office Address
  • Capital requirement of 150,000 OMR

Documents Needed

  • Shareholders' passport copy
  • Identity Card
  • Bank's initial capital deposit certificate
  • Passport copy of all authorized signatories
  • Standard company registration forms
  • Company Statues
  • Chamber of Commerce & Industry Affiliation Certificate
SAIF Company Formation Cost & Package
Categories company, company formation, Free Zone, FREE ZONE COMPANY

Sharjah Airport Free Zone (SAIF) Company Formation Cost & Package

SAIF (Sharjah Airport Free Zone) is located next to Sharjah International Airport. It has the oldest UAE zones with developed infrastructure like warehouses, offices, and land leased for businesses. It formed in 1995 and hosts 7000 companies as of now. SAIF's location suits manufacturing, trading, and logistics companies who plan a business setup in the United Arab Emirates for a reasonable budget. If you wish for a business setup services in Dubai, consider SAIF as your possible option.

Vast Range Of Warehouses, Offices, And Land

Sharjah Airport International Free Zone has ready-to-move facilities. Their warehouses are equipped with pantry, fitted office, kitchen and air conditioning. The size of a warehouse is 125 sq meters, where 22 sq meters are occupied by the office space. Two types of offices in SAIF are present:
  • Air conditioned, fitted out and furnished.
  • Unfurnished offices with utility costs.
Besides that, temporary warehouses and labour accommodation are available. SAIF facilities can suit any company for a business setup in Sharjah.

Activities

The major categories of licenses are:
  • Trading
  • Industrial
  • Service
Your license belongs to any one of these categories. If you like to mix them, additional licenses must be purchased. Sharjah airport SAIF zone offers a broad business activity list. It is hard to get service activities like "investment of own funds." Activities can permit storage and consolidation of products which is specified in your license as assembling and manufacturing of products. SAIF will not share the activity list. Hence all the business activity must be checked. This free zone has multiple activities in license for the company formation in Sharjah, if it is not related, extra charges apply.

Costs Of Sharjah's Free Zone Company

SAIF offers
Service or trading license for AED 13,500. E-commerce or general trading or multiple activities or aviation license charge AED 21,000. It is eligible for a small office and 4 resident visas as part of the package. When you plan to rent the bigger facility, you must pay the office rent, license fees and warehouse rent. These prices are competitive to the Sharjah's LLC company formation charges. But the facilities are cheaper than the free zones. Immigration fees and visa fees should be paid separately.
Company Setup
Sharjah's free zone company formation in SAIF is done by the Power of Attorney holders or company owners. Licenses can be instantly issued on the day of application. Needed Information And Documents
  • Residential address
  • Passport
  • Phone number
  • Passport size photo
  • Owners' email
Documents which are issued by SAIF after the company registration are
  • License
  • Certificate of Incorporation
  • Memorandum & Article of Association
  • Share Certificate
  • Investment Service Agreement
  • Lease Agreement
Company registration in this free zone is done by the business consultants in Dubai or Sharjah.

Costs of SAIF Free Zone

The company formation in Sharjah SAIF entails resident visa opening. The employee's visa is valid for 2 years, while the visa of the company’s owner is valid for 3 years.
SAIF fees (AED)
SAIF fees. AED Medical checkup, AED Emirates ID,AED
Owner/ Investor  Normal (8-10 days) 3,840  690 370
Urgent (3-4 days) 4,040  690 370
Employee Normal (8-10 days) 3,240  690 270
Urgent (3-4 days) 3,440 690 270
If you've applied for a resident visa, when on a tourist visa, the procedure of status change is applicable. This costs around 860 or 1010 AED on an urgent basis.
Trade License Renewal
This just takes one day to renew the Sharjah Airport Free Zone company, without the company owners' personal visit. It must be paid and signed on the lease agreement to process the renewal.
Amendments
The amendments of company in SAIF is only done by Power of Attorney holders or shareholders.
Costs Of Standard Amendments
  • Adding or removing Director- 2,000 AED
  • Shares transfer- 10,000 AED
  • Change of Manager- 2,000 AED
  • Change of financial year- 500 AED
Subsidiary Company in Dubai
Categories company, company formation, dubai, uae

Subsidiary Company in Dubai

Dubai is one of the important Emirate in the UAE’s trading network. It is the host to major companies and corporate organizations that operate in various spheres of business. Legislation of Dubai’s government permits free trade and this makes Dubai the attractive Emirates for foreign and local investors in the UAE. Investors can open free zones and onshore companies in Dubai. Many foreign companies establish their presence in Dubai by setting up a subsidiary company or a branch office in Dubai. The subsidiary and branch office differs because of its autonomy in business operations, while the branch office is tied with the parent company. Subsidiary operates independently and branch office depends on the guidelines of a parent company.

Steps To Register A Subsidiary In Dubai

Based on the government of Dubai regulations, companies that conduct business in Dubai have to register with the DED (Department Of Economic Development). You have to appoint a local agent to establish a subsidiary in Dubai, who'll handle the registration procedure in Dubai and offer relevant advice to their foreign investors. We've a team of experts in Dubai's company registration to help you with the setup process. As per the Dubai Company Law, foreign companies can register their subsidiaries in Dubai under the LLC. Here are the steps to follow if registering a subsidiary in Dubai.
  • Company name reservation
  • Get approvals for business activities from DED in Dubai.
  • Notarize and draft the articles & MOA for the subsidiary in Dubai.
  • Submit the relevant information of directors or shareholders to the DED.
On completion of the registration of the subsidiary in Dubai, the investor has to apply for a business trading license with Dubai’s Chamber of Commerce and Industry.

Get A Trading License For Subsidiary In Dubai

A few information and documents must be submitted to the Dubai's Chamber of Commerce to get the trading license for the subsidiary in Dubai. Some are:
  • Copy of Articles & MOA for the subsidiary in Dubai.
  • Trading license application form.
  • Name approval letter from DED in Dubai.
  • Passport copies of directors or shareholders.
Subsidiaries in Dubai need to get clearance from the Dubai’s Municipality Building Department. It is because the subsidiary must have their company's registered office in Dubai. Consult our specialists at Black Swan to get the information regarding your trade license availability to set up the subsidiaries in Dubai.
how to setup forex trading company in dubai
Categories Business, company, dubai, How To, uae

How to Setup a Forex Trading Company in Dubai

Stock market is an active and dynamic industry for starting a forex trading company in Dubai. People around the world trade in various sectors. It's the largest market in the world which involves daily trading volume. Dubai stands out due to its business-friendly environment and well-developed financial system. You can open a forex trading company setup in Dubai on the mainland or in the free zone (DIFC).

Set Up A Forex Trading Company (Dubai)

If you like to enter the forex trading industry, here are the steps to guide you:

Analyze The Market

Usually people don't analyze the market in-depth. Before any step, you must know the pros and cons involved in the forex trading business. Now the digital revolution makes it easier. You can research and contact the right forex broker, they'll help you understand the aspects of forex trading. The experience you have will determine the needs. If you have a previous experience in the stock market, you can go for advanced platforms which offer forex trading api or service. When you're a beginner, you can stick to a simple trading platform. You should evaluate before you set up the forex trading company.

Choose A Broker

Get to know whether the broker is regulated under a government agency. Enquire if the broker functions as the market maker or uses the electronic communication network. The elements to consider are the margin, broker, demo account, narrow dealing spreads, educational resources, trading platform offered, customer service, and educational resources.

Obtain A Foreign Trading License In Dubai

Solicit the license to open the forex trading companies from Dubai Financial Service Authority. This has the independent legal procedure that monitors the trading of commodities exchange, and international equities in the United Arab Emirates. When you pass the credibility test, you'll get a license to run your forex trading company.

Open A Trading Account

You can now begin the forex trading with the live-funded account. Set an easy trading plan and stick on with it. You must hire a local business consultant to open your forex trading company. The value insights can make you understand the market, get the business license and set your forex trading company in the United Arab Emirates.

Advantages Of Starting A Forex Trading Company In Dubai

Like other businesses, forex trading is profitable in Dubai. Here are the advantages:
  1. You can trade from anywhere, at any time and earn profits. You just need a smartphone or a computer with proper internet connection to trade. Forex trading is manageable with high liquidity, minimal risk, and low transaction cost.
  2. You get zero percent tax policy in the UAE. It allows you to earn extra revenue and helps you to establish a trading company.
  3. It is easy to set up a forex trading company in Dubai. People get skeptical to invest in exchange market. But with secured and regulated by Dubai Financial Service Authority, the investors can trade in foreign exchange.
Tags : Business Setup in Dubai, eCommerce Licence in Dubai, Trade Licence in Dubai, Freelance licence in Dubai, Professional Licence in Dubai
Oil & Gas Company Setup in Dubai
Categories Business, company, dubai, uae

Oil & Gas Company Setup in Dubai

The United Arab Emirates has one of the huge oil and gas industries across the world. It is one of the core elements of the UAE’S national economy. Some years back, the UAE economy was dependent on traditional activities such as fishery, pearl fishing, and date palm plantations. The economic sector has totally transformed, after the opening of the first oil industry. The oil industries' products generate revenue through the export of raw materials. The oil and gas industry plays an essential part to the UAE with a high amount of per capita income. It must be noted that UAE's government carries the active diversification of the national economy. The products and assets that come from the oil and gas sector are invested in trade, manufacturing industry agriculture, tourism, and social sectors to enhance the economy of the country. Therefore, the oil and gas industries in the United Arab Emirates made it possible to develop a well-developed infrastructure along with sci-fi technology to attract many foreign investors every year.

Oil and Gas Industry in Dubai

A well-equipped machinery with a system of pipelines connects port terminals, refineries, and field facilities to extract oil. This was originally developed by the United Arab Emirates. Piping system provides an effective operation for all the companies involved in the gas sector, where a gas pipeline connects the Emirates and Qatar. Large portions of oil are produced in the UAE region and are exported throughout the world. Multiple ways are carried out to export the oil and gasoline products. Shipping terminals are supplied with alluring infrastructure and new equipment. It is transported to ships and oil tankers, to South Korea, Thailand, Japan, USA, Western Europe and many more. Natural gas is the resource to produce electric energy. Continuous fuel consumption over natural gas production creates scarcity. With continuous population growth, the government increases the volumes of the produced gas, and promotes the new alternative energy sources. Now the natural gas in Emirates, is used to produce electrical energy and also to produce oil and desalination of water resources. The gas production in the United Arab Emirates is of high cost and is in demand throughout the world. There are few difficulties in extracting and producing volumes annually. Through constant improving networks of connecting pipelines and developing modern technical well equipped plants in UAE and abroad gives a major proportion towards the economy and increases the GDP.
Shams Free Zone License & Company Formation
Categories Business, company, company formation, Free Zone

Shams Free Zone License & Company Formation

One of the best Free zones of Sharjah is Shams Free zone. This agency offers media, tech, or creatively based business licenses to freelance entrepreneurs and to new booming companies. We offer methodical, systematic, and economical free zone company establishments. Shams Free Zone orders registration of businesses in Sharjah. Our business advisors and consultants in Shams give assistance to your company start up process with a hassle free process. Free Zone can cheer up business magnets, persons, and new ventures for initiating business in Sharjah with a complete foreign ownership. It gives affordable costs across world class services.

Company Establishment With Free Zone Trading License In Sharjah

Shams business startup consultants can make a creative business capitalism available for new venture firms, budding entrepreneurs, existing companies, and small-midsize enterprises. This is available to anyone who can expand companies from local to international. Shams can create and cherish their bonds with skillful persons as these skillful minds can give a powerful base for them.

Free Zone Company Formation In Sharjah

The free zones of Shams is located in Sharjah which gives a high level framework, resources, architectural setup and services to entrepreneurs and businesses that builds a better culture, economic diversification and improved education, giving a complete aggregate civic centered techniques.

Benefits Of Free Zone Company

  • Complete ownership in the free zones of Sharjah.
  • Exception of export and import taxes for products.
  • Capital and profit repatriation of the complete amount.
  • Exceptions from the state government ruled commerce duties.
How To Incorporate Holding Company In Oman
Categories company, How To, Oman

How to Incorporate a Holding Company In Oman

The holding company can be formed as a limited liability company, or a joint stock company under a "CCL" (Commercial Companies Law Of Oman). A holding company must need a minimum capital of RO 2,000,000. This type of capital can be paid in full upon the holding company's incorporation or upto 50% if it's a joint stock company. When the issued share capital is partially paid, then the balance amount must be paid within three years from the holding companies' incorporation date.

Objectives Of Holding Company

  • To manage the subsidiary company or participate in managing other companies where holding company can own shares
  • The investment of funds in bonds, shares, and securities
  • Guarantees, granting loans, and finance to subsidiaries
  • Acquisition of trade marks, patent rights, concessions, intangible rights of exploitation by the company or lease their subsidiaries to other companies.
The holding company may not own interests in limited partnership or in general, as it can be prohibited to own shares in some other holding company.

Minimum Capital

The holding company has the minimum capital requirement of RO 2,000,000. The issued share capital of 50% can be paid at the incorporation time in the holding company with a balance amount to be paid within three years from the holding companies' incorporation date.

Time Duration To Set Up The Holding Company

If it's a limited liability company, the holding company can be registered in just 15 days from the date of commencement. But if it's a joint stock company, it takes at least 45 days. Similarly, ensure that RO 2,000,000 of entire capital should be paid on the time of incorporation.

Count Of Directors

In joint stock companies, there can be a maximum of 12 directors, and a minimum of 3 directors. The limited liability companies don't have the board of directors.

CCL Of Article 128

The holding companies' board of directors can call the chairman of the board of directors from the subsidiary company to attend the board of directors meeting held by their company, while considering the matters of their affiliate company. Hence they can give remarks, express their opinions, offer statements needed by the board on issues. He can participate in discussions but doesn't have the right to vote.

Expatriate Director

No restrictions on the count of expatriate directors for the board of holding companies.
Pros of Starting and investing a company in Oman
Categories company, company formation, Oman

Pros of Starting and Investing a company in Oman

The year 1970, the great Sultanate of Oman was founded and then shaped. It all happened due to the succession of the ruler in that period named Sultan Qaboos bin Said. Oman has a wide range of foreigners who settled as expats working in all kinds of companies and fields. Its population has increased from only 7 lakhs in the early stage to 5 million + now. It covers about 0.07% of the total world population. This region is highly rich in oil reserves , thus Oman has begun to expand its economy in other areas such as tourism, industries, manufacturing units and logistics. Oman is located in the south west Asia which is in the south east coast of the Arabian peninsula, bordering Gulf of Oman, gulf of Persia and Arabian sea. It lies between UAE and Yemen countries geographically. It also holds the name by being the only member of the Gulf Cooperation Council - GCC located out of gulf. Omani’s speak Arabic as their primary language. English, being the popular speaking language of the world, people here also speak English next to its mother language. English is used for commercial and trading units.

Advantages of investing in Oman

Planning to Invest in Oman ? Investments in Oman has provided many advantages for investments,
  • High political steadiness.
  • Oil and gas reserves are rich
  • Income tax is designed low for industries and companies.
  • Not only Oman national ownership is encouraged, but also foreign ownership is enlightened
  • All entities can Refurbish profits and initial investments completely.
  • Dedicated industrialization, economic diversity, privatization, economic development.
  • Savings can be done well by all the individuals as income tax is null.
  • Tax elimination or tax reduction called holiday period for 5 years is applied to business firms. This holiday period can be renewed for another 5 years if needed.
  • Easy accessible to the border regions of gulf, Asian markets and African areas.
  • Effective and balanced management of stock market
  • Well driven roadways, good airports and seaports for seaways are built in Contemporary architecture.
  • Telecom is also made effective and fast communicable
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