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Category Archives: company

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Ways-to-Start-a-Pharmaceutical-Company-in-Dubai
Categories Business, company, dubai

Ways to Start a Pharmaceutical Company in Dubai

The sector of Healthcare is now booming across the world. The United Arab Emirates has the fastest-growing economy with its world-class infrastructure. When you set up a pharmaceutical company in Dubai you need to follow the rules and regulations of the Dubai Health Authority.

Procedure for starting a pharmaceutical company in Dubai

  • Obtain approval from the necessary premise.
  • Get a pharmaceutical license from the Dubai Trade Register.
  • Use of Application form.
  • The Copy of the tenancy contract.
  • Have the Blueprint of the location.
  • Hold the Passport copy of the owner.

The ways to start a pharmaceutical company in Dubai

  • Get the approval of medical devices by the UAE Ministry of Health (MOH).
  • You have to fill the application form that is stamped and signed by the authorized person.
  • Give the detailed company profile.
  • Get your product lists manufactured.
  • Obtain the Legal and manufacturing license issued by the competent authority.

Essential ways to be followed when setting up a pharmaceutical company in Dubai

  • Perform a market analysis.
  • You have to understand the competitors’ strategy.
  • You have to choose an appropriate location.
  • Get a business license.
  • You need to submit essential documents to the government authority.
  • Must open a bank account.
  • Have a physical office space.

Why set up your business in Dubai?

Dubai is considered to be the number one business location in the Middle East. Due to the real estate and banking sector, Dubai stabilizes financially and has increased its economy. Legal procedures are fast-tracked with minimal paperwork and have simple registration procedures. Companies all over the world set up their business in Dubai due to a huge inflow of foreign capital making the economy of Dubai stronger.

The Benefits

  • Has taxation benefits.
  • No minimum capital requirement.
  • Has no restrictions on trading locations.
  • Dubai has the fastest-growing economy.
  • It has free zone benefits.
  • Comprises the first-class infrastructure.
  • You can work with government bodies.
  • No restriction in currency limitations.
  • Has low import duty.
  • Have more options for business activities.
  • No limitations to the number of visas.

You can contact Black Swan to start a pharmaceutical company in Dubai

To carry out a smooth business in Dubai, you need to consult the expert business consultants who guide you in incorporating your business in the UAE and carry out the functions in an easy way. Black Swan guides you at every step when starting a business in Dubai. The business experts are best in professional proceedings and they help you in the incorporating process until the end. You can get in touch with us today!
E-Commerce Trends in UAE & Middle East
Categories Business Setup, company, E-Commerce

E-Commerce Trends in UAE & Middle East Emerging New Business Opportunities

The tide of technology rises while the vessels afloat to rise with it. The vessel is the internet and the entire e-commerce industry that thrive across the globe. The e-commerce industry has established its benchmarks from every corner of the world. With reliable shipping methods, easy checkouts and hassle-free payment, the e-commerce industry is getting traffic since their invention.

Why do People Shop Online?

Online shopping is so penetrating the current years because the internet works faster and there are more reasons for it. People depend on e-commerce stores for expensive super cars like Porsche and Lamborghini to the trivial things like daily groceries. Due to the industrial advancements and recent infrastructure, city life has become tougher and busier for people to drive to their nearest Mall. There might be risks like losing money to a parking ticket and getting stuck in a traffic jam. To sit on the comfort of your couch is better than suffering the ordeal. Middle East Shoppers adopt this trend as their lifestyle.

Why Do People Purchase Online?

The top shopping regions are the Middle East. The E-commerce market of the Middle East has reached $ 18.5 billion in 2019. The revenue is expected to reach $ 4 billion in 2020 and 60% of shoppers are from Dubai. Several brick and mortar stores have taken their business to the online platform for more reach. 42% of Middle East people access their internet to shop online and 87% of online shoppers are satisfied with their shopping.

Smartphones

Based on the study conducted by the Times of Oman, 1 in every 3 people of the Middle East make an online purchase from their cellular devices. 46% of online shoppers are convinced to shop through mobile phones and 85% of people access the internet with cellular devices. Knowing the statistics, several smart business owners of UAE are converting their websites with responsive designs and without the hassle of unnecessary scrolling.

Demographics of Shoppers

The highest percentage of online buyers are from the younger age groups of 26 to 35 years. The highest numbers are from Egypt exhibiting 50% followed by KSA by 46% and then UAE and Kuwait as 42%. Products purchased online are electronics, air tickets, fashion wear and appliances.

Social Media Influence

Social media decides customers what to buy and what not. Social media campaigns are the cheapest as well as fastest to spread exposure of business for increasing their visibility on the internet. The more followers, the more feedback the businesses get. Based on Global Media Insight's social media statistics of UAE are: YouTube has 88% of active users. Facebook has 79% of followers, while Instagram has 68% and Twitter at 53%. Pinterest and Linkedin have 25% and 45% of active users. 72% of online buyers come from social media platforms.

Cross Border Shopping

49% of online buyers of the Middle East prefer buying cross-border products that provide free shipping facilities. There are certain barriers like long delivery period, fraud and identity theft to prevent customers from cross border shopping

UAE - the Powerhouse for E-commerce

People's attitude is one of the reasons for the rapid growth of E-commerce. Government supports the market that has initiatives like "Smart Dubai 2021" to thicken the e-commerce business and leverage emerging technologies. People's trust in digital payments and increasing digital penetration have contributed to the growth of e-commerce in the United Arab Emirates. 70% of people trust online payments in UAE and 66% of people trust online shopping. Things to Know

Register Your E-Commerce Company Today

GET-UAE-VISA
Categories company, UAE VISA

Get a UAE Visa Without Company Sponsorship

Do you consider moving to the United Arab Emirates? 80% of the population consists of foreign-born nationals, the United Arab Emirates has been a welcoming country towards their expats. In today's scenario, the welcoming attitude is more present than ever. Recently, the country announced that significant portions of their legal code can make the living environment more favourable for foreign residents. The government also introduced recent visa reforms targeting investors, the top-performing students, entrepreneurs, and individuals with specialised talents to address the vital growth areas for the Emirati economy allowing more foreigners the chance to make the Emirates their home. Are you curious to know? Let’s have a look at it.

Ways to get a UAE residency visa without a job

The UAE residence visa options are available without a sponsor or with a short-term, and long-term duration. It depends on the needs you meet along with the criteria for the available schemes.

How to get residency in the United Arab Emirates?

Foreigners living in the United Arab Emirates have work-based visas by working with the Emirati government or the Emirati-based firm. Most permits are employment-based, where you don’t have an established entity to relocate in Dubai or any of the other Emirates.

The short-term UAE residence visa schemes

The six-month Multiple-Entry Visa: When you purchase a property of 1 million AED (around £197,480.25), you procure this visa (a visit visa) for you and your family members.

How do you qualify for this scheme?

You should have the condition of meeting the minimum property value. When you choose to purchase a property with multiple owners, each of the shareholders must have a minimum. stake of 1 million AED. The property can be any property; the rules of dwelling must be move-in ready at the purchasing time. When it is a visiting visa, you and your dependents can’t have the rights to work in the United Arab Emirates and have to renew every six months.

The use of Two-Year Property Investment Visa

The other option to purchase a property in the United Arab Emirates is to get a two-year multiple-entry residency visa entitling to the driving licence, Emirates ID card, and ability to sponsor your family. The two-year property investment visa scheme has the property value requirements same as the six-month multiple-entry option. When you wish to get a two-year property investment visa, you should not have any mortgages on the property. It should be ready to move in. The property owners must earn a monthly income of 10,000 AED (£1,976.05), but the owners or their dependents have the right to work in the Emirates with this visa.

The options of long-term UAE residence visa

For creating more permanent bonds with the United Arab Emirates, some schemes are a perfect fit for your goals. Here there are two classes of long-term residence visas, a five-year visa without a sponsor and a ten-year visa without a sponsor. When you currently possess residency status in the United Arab Emirates, you may switch to an investor visa as long as you meet the conditions the government stated.

The Five-Year Visa Without a Sponsor

The property investors in the United Arab Emirates opt for a five-year residency visa, but you need to meet the following conditions:
  • The investment property must have a gross value of at least 5 million AED (£988,149.98).
  • Cannot have any loan.
  • Must hold onto the investment for three years.
The Ten-Year Visa Without a Sponsor Those who seek a longer amount of time as UAE residents can pursue the ten-year visa scheme. How does an investor gain eligibility for this scheme? You have to invest 10 million AED (£1,976,245.50). Business partners can qualify as long as their stake is 10 million AED.

What investment would qualify?

The minimum 10 million AED investment can be done in the following ways
  • Deposit 10 million AED in an investment fund in the United Arab Emirates.
  • Continue the company formation of UAE with 10 million AED of startup capital.
  • Have a partnership with a new or already-existing company with a share value of 10 million AED
  • The minimum of 10 million AED investment as long as their share in real estate gets capped to 60%
Investments must meet the following conditions
  • Prove that you have 10 million AED in financial solvency.
  • Investment amount can’t be a loan.
  • Must hold on investment for three years.

Gold Card Scheme

In May 2019, the Emirati government announced the Gold Card Visa Scheme - the long-awaited development for those expats looking for a long-term residency. There are four eligible categories to seek the Gold Card status: Investors, Entrepreneurs, Outstanding Students and Specialised Talents. Let's take a deep dive into their full conditions: Seeking to apply for a long-term UAE residence visa but want to live in the UAE while you await your resolution?

The use of Multiple-Entry Six-Month Interim Visa

The non-UAE residents who seek a long-term visa, have a multiple-entry interim visa for six months. This is ideal for foreigners who are looking to live, work or study in the UAE without local sponsorship. The permit has a total ownership stake in an enterprise in the UAE. This visa offers outstanding students, investors, entrepreneurs and talented individuals with the flexibility in completing the Gold Card residency application process when guiding applicants in identifying opportunities to make the right decision for them and their families. This grants the ability to come in and out of the Emirates on multiple occasions.
Company Formation in IFZA Dubai Free Zone
Categories company, company formation, dubai, Free Zone

Company Formation in IFZA Dubai Free Zone

The process of forming a company in the IFZA (INTERNATIONAL FREE ZONE AUTHORITY) is simple and rapid. It is best to proceed with a Registered Agent like Blackswan to prevent any blockages and to have a hassle-free Company Set Up. Throughout and after the company formation, our skilled staff will guide and help you. We will assist you in selecting the most cost-effective Business Package for you to start your dream company. For foreign investors looking to form a company, the International Free Zone Authority is the best option. Offices, warehouses, residential apartments, hotels, and retail outlets are all accessible in the IFZA Freezone. Several licence choices are provided (Consultancy License, Service License, Trading License, General Trading License, Industrial License, and Holding License), allowing small local to large worldwide businesses to be served effectively.

Company Formation Process in IFZA (International Free Zone Authority)

  • Make contact with Blackswan.
  • Request a call from one of our specialist legal and business consultants for information on the various Free Zone company formation packages, license costs, and visa requirements.
  • Select the appropriate Business Activity and reserve your company's Trade Name.
  • Choose the correct Business License Package (Flexi-Office, Shared Office, Exclusive Office) and Visa Quota for your business setting.
  • Submit Required Documents for inspection and payment.
  • Request a corporate bank account as well as additional certifications such as Customs Registration.

License Types Available in International Free Zone Authority

  • Consultancy License - Professionals can obtain a Consultancy License by offering skilled and professional consulting services.
  • Service License - permits you to create, re-create, transform, and distribute services.
  • Trading License - allows the licensee to trade the items listed on the license.
  • General Trading License - allows the licensee to sell a broader range of goods.
  • Industrial License - permits for the import of raw materials, production, re-production, manufacture, packaging, and export of finished goods.
  • Holding License - allows you to own freestanding assets and/or stock in other businesses.

Features of IFZA Free Zone Company

  • Brand partnership with the Dubai Silicon Oasis Authority, Dubai
  • Cost-effective Business Setup Packages starting at AED 13,900
  • Three-year IFZA license with a special price
  • Customized workplace Setup Solutions – Flexi Desk, Executive Office
  • Comprehensive variety of business activities – Consultancy, Service, and Trading choices
  • Fast and easy free zone company formation
  • No physical presence of shareholders is necessary
  • no physical office is required
  • no proof of share capital is required
  • 100% exemption from corporation and income taxes
  • 100% international ownership
  • no foreign currency limits
  • full repatriation of firm profits and capital
  • Ability to incorporate holding companies

What Makes IFZA Unique Free Zone?

  • At the Freezone, there is no requirement to submit an annual audit.
  • 3 year visa for owners and workers
  • No employee guarantee deposit necessary
  • Requirement of a passport copy.
  • Physical presence of company owners is not required
  • No physical office is required
  • Exemption from corporate and income tax
  • 100% profit repatriation

How Black Swan will Assist you?

Blackswan is one of IFZA's major business suppliers, with a strong staff of consultants that speak a variety of languages. Blackswan will assist you with your documents, legal compliance, and government approvals so that you may successfully register your business in the UAE.
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 ?

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How to setup Company in DWC Free zone
Categories company, dubai, Free Zone, FREE ZONE COMPANY, uae

How to setup Company in DWC Free Zone

Dubai World Central (DWC), Dubai's second airport and the world's future centre, is rapidly taking shape in the city's south, near the rapidly growing "New Dubai" neighbourhoods. DWC is located in the heart of a whole airport city. The government of Dubai has taken a positive step in positioning the city as a major global commercial hub. The biggest master planned free zone in the world, located on 140 kilometres of land near Jebel Ali Sea Port, transports a wide range of industries such as aviation, logistics, exhibitions, residential, and many other associated companies. DWC is now the world's largest and most important worldwide business, commerce, and aviation centre. The DWC headquarters are close enough to the Al Makhtoum International Airport, the Business Park Aviation, the Logistics District, the Aviation District, the Commercial District, the Residential District, the Golf District, the Humanitarian District, and the Exhibition District, all of which serve as strategic platforms for the expansion and growth of light industry, aviation, logistics, and other business services. DWC is strategically located to provide coordination and shipping throughout the GCC, the Middle East, and the rest of the world.

Benefits of company set up in Dubai South

  • Forming a company in Dubai South would provide you with 100 percent tax-free benefits, as well as 100 percent foreign ownership.
  • There is no corporate tax when forming a business. It will allow you to choose from a variety of high-quality commercial structures.
  • It will also provide you with flexible commercial leases.
  • It offers you the choice of forming a business in a free zone or a non-bonded zone.
  • The company is set up at a very low cost.
  • Setting up a company in Dubai would provide you easy access to Al Maktoum Airport.
  • Setting up a business in the Dubai South Free Zone will also provide you with the benefits of space and services, allowing you to run your business more efficiently.

Simple steps for DWC company formation

Contact us

Contact us now for a free consultation and conversation with one of our DWC company formation specialists, who will assist you with your licensing, business operations, and all other needs for your DWC company creation.

Application

At this point, we'll submit an application for DWC business creation, as well as three possible company names, personal information, and copies of the shareholders' and managers' passports. The application is expected to be approved in 7 to 10 days. Although the customer's presence is not required throughout the DWC business creation procedure, signed papers must be delivered to us in their original form.

Smart Desk

Following acceptance of the application, the DWC institution will issue the Smart Desk office contract, which must be signed by the company's shareholder or management. The signed contract must be provided to us in order for us to submit it to the DWC authorities.

DWC company formation and licensing

The DWC official will issue the certificate of incorporation, MOA, share certificate, and business license when the Smart Desk contract is submitted.

Establishment card

After the firm is registered, the establishment card will be given in seven to ten days. The establishment card will allow the firm to apply for the appropriate resident permits for the company's shareholders, managers, and workers.

Corporate bank account

After the registration and licensing, the company will apply for the starting of a corporate bank account. The presence of the shareholder or bank signatory in Dubai is compulsory for at least one day to sign the bank forms

Requirements for company formation in Dubai South

You must register as a Free Zone Enterprise and have a Dubai South business licence to create a DWC firm. DWC accepts applications for the registration of a Free Zone Enterprise from any business, partnership, organisation, or individual. For a LLC DWC company formation
  • Incorporation certificate
  • All shareholder gets Individual share certificates
  • Memorandum of Association of company
  • Articles of Incorporation of company
For Branch Registration certificates will be issued.

Types of trade license

Depending on the nature of your firm, DWC offers a variety of trade licences:
mainland-vs-free-zone-company-formation-in-dubai
Categories Business, company, DUBAI MAINLAND, Free Zone, Oman

Mainland vs. Free Zone Company Formation in Dubai

MAINLAND COMPANY

An LLC (Limited Liability Company) is the earliest and most commonly known structure in the global marketplace. LLCs are limited by their shares and are defined by the liabilities of the company. In order to form an LLC, a minimum of 2 to a maximum of 50 shareholders is necessary. In order to encompass such an ensemble, with regard to the UAE law, a UAE national (individual or corporate) should own 51% of the shares while the remaining 49% is allotted to the other expatriate shareholders of the company. The major benefit of Mainland companies is access to the UAE Market.

Business Overview

Mainland companies are at ease of carrying out their business activities throughout the UAE market, either inside or outside, without limiting their access within the Free zone alone.

Structure of Ownership

  • The presence of a UAE National is mandatory in mainland licenses either as a National servicing Agent or a local partner
  • In an LLC, 51% of the shares rest with the UAE National while only 49% is allotted to the expatriate partner.
  • In the case of a professional license, 100% of the shares rest with the expatriate partner while a UAE National is appointed as a National Service agent.

Office Space

In the case of mainland license, a 140 square foot office is mandatory along with an Ejari (Dubai), or Tawtheeq (Abu Dhabi). Only after producing these documents to the Department of Economic Development, the license will be released.

Visa Eligibility

Mainland ensembles don not have limitations. The MOL (Ministry of Labor) issues an Electronic Quota to every company highlighting their visa eligibility. This can be increased by increasing your office space, as you will be allocated 1 visa for an 80 square foot office space. In case of the presence of external staff like drivers, sales professionals, etc. a separate quota can be applied without affecting the office space quota.

Approvals of Governing bodies

  • It is mandatory in case of a mainland license to get approval from concerned departments like Dubai Municipality (DM), Department of Economic Development(DED), Ministry of interiors or Immigration (MOI), Ministry of Labor (MOL)
  • Certain circumstances, the third party governing licenses are also needed depending on business activities. This includes KHDA (Knowledge and Human Development Authority) approval for education-related activities, DHA (Dubai Health Authority)/HAAD (Health Authority Abu Dhabi) for medical activities, Civil defense for security-related activities, Food Control Department of Municipality for a food-related license, RERA (Real Estate Regulation Authority) for real estate activities.

FREE ZONE COMPANY

Free zones are different from the mainland owing to the fact that it’s an isolated land or setting with different tax, import, and customs regime. The major advantage is that a free zone company does not have to give out the shares, the expatriate can own 100% of the shares.

Business Overview

  • Free zone companies are allowed to conduct businesses only in specific free zones or outside UAE but are not authorized to sell their products or provide services in the UAE mainland.
  • Even though the local business is restricted for free zone companies, the distribution of products through a distributor having a mainland license is possible. This particular distributor can act as your local agent and charge a certain fee (lower than 5% on free zone invoices) to trade into the local market. The distributor is responsible for shipping the goods if not so, a 5% duty fee needs to be paid for goods leaving the free zone
  • Marketing your company is also possible only inside the free zone, which may even be a face-to-face or business card handouts.

Structure of Ownership

A company in the free zone can be handled 100% by the expatriate without the need for a UAE National or a service agent.

Office space

A free zone license can be procured with or without a physical office. The license holders are at ease to use a smart/Flexi office, but with due restrictions on visa allocation.

Visa Eligibility

The visa allocation is limited in the case of free zone companies from 1-6 visa packages. In the case of more visa requirements, you will have to rent a physical space inside the free zone. Renting physical spaces inside the free zone is pricey due to the high demand for commercial space and limited supply.

Approvals by Governing bodies

Approval from external authorities is usually not required by free zone authorities as free zone facilities are mainly for the import and export of goods. It is to be noted that no external approvals from governing bodies outside the free zone are entertained.

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SHAMS FreeZone Company Setup FAQ
Categories company, Free Zone

SHAMS Free Zone Company Setup FAQ

Can I live and have a bank account in Dubai if I register a company in a free zone outside of Dubai?

Yes, you can establish a corporation outside of Dubai but reside in Dubai or another Emirate. You are not need to live in the same Emirate as your visa. You can also open a bank account with any UAE bank of your choice in a Dubai branch.

Is it possible to open a bank account from afar?

No, you must travel to the UAE yourself. It is a requirement of the UAE Central Bank, which must be followed by all local banks. A personal visit is required to ensure that the bank recognises the client.

Do banks offer debit or credit cards, as well as loans?

If there is only one shareholder, you can usually receive a debit card for your freshly formed company. You can also get a credit card, but only if you put down a deposit. It is feasible to obtain a loan, but you must demonstrate your company's activities and profits to the bank. A bank may issue a loan after reviewing your company's turnover and profitability. We recommend applying for it once the company has been in existence for at least one year.

Is it possible for a free zone corporation to have offices outside of the free zone?

A free zone firm's official office must be located exclusively within the free zone where the company was registered. If you require an office in Dubai, you can rent a space at a business centre and use it on a monthly or daily basis, depending on the package you select. The free zone's minimum necessary space (flexi desk) cannot, however, be removed.

Why do I require a movable desk or office?

Any company that wants to apply for resident visas must have a flexi desk. The UAE government requires it because it is the bare minimum of physical office space that any company with a visa must have. Aside from that, the flexi desk is useful for opening bank accounts. The bank's compliance department has to see that a company has an office or at the very least a tiny physical seat where it can work.

If our company is registered in the Free Zone, do we have to pay VAT?

The company's VAT duties are defined not only by where it is incorporated, but also by where it currently operates. To begin, VAT becomes applicable when your taxable turnover exceeds 375 000 AED. The term "taxable turnover" refers to business conducted in the United Arab Emirates. Because the transactions are taking place outside of the UAE, if your firm is registered in a Free Zone but your trade takes place outside of the UAE (for example, you sell goods from India to Africa), your turnover is not taxable. It implies that you are exempt from paying VAT.

Do I owe any additional taxes?

Income and corporate taxes are not levied in the United Arab Emirates. It only has a 5% import tax on products that you bring into the nation and a 5% VAT on any trading or service activities that take place in the UAE.

What makes a free zone company better than an offshore or a mainland company for me?

Everything is dependent on your business model and requirements, but for the most part, a free zone structure is the best option. In contrast to mainland companies, which require a local partner or agent, a Free Zone company can have 100 percent foreign ownership, be eligible for resident visas, conduct business both in and outside of the UAE, be treated more favourably by banks than offshore companies, and have a flexi desk space rather than an executive office. A Free Zone is an excellent method to create a business for a low charge and with no strings attached.

Can you guarantee the activation of a bank account?

When we set up your firm, we try our hardest to make it as simple as possible for you to open an account. We can provide you an estimate of the odds of a successful account opening based on your background and business style. The bank is solely responsible for the account's approval. Before an account can be opened, each case must be approved by a few different divisions inside the bank. If the bank has any questions or requires additional information, it will contact you personally. The more information you provide about your company to the bank, the better your chances of getting an account opened.

Should I keep my business? When? How much does it set you back?

Yes, the business should be renewed on an annual basis. The renewal fee is usually lower than the setup fee. It is determined by your company's bundle. By downloading the Estimate from this page, you may acquire the pricing. Renewal does not necessitate the owner's presence and can be handled by your agent. The new licence must be presented to the bank after the company has been renewed in order to prolong the bank account.
The Launch of New Arbitration Working Group by DIFC Courts
Categories Business, company, dubai

The Launch of New Arbitration Working Group by DIFC Courts

A new Arbitration Working Group has been launched by the Dubai International Financial Centre (DIFC). The panel of experts encompassing an advisory team of arbitration professionals, centres, educational institutions, bodies as well industry-related organisations will be tasked with sharing developments and reinforcing the best practices. The DIFC Courts deals with a multitude of high-value arbitrations across the globe. More parties choose the DIFC Courts as the preferred seat of arbitration, expanded operations to accommodate the influx under the new division, offers a wealth of judicial experience that deals with high- value complex commercial disputes.

Competes with arbitration

Courts intentions does not compete with the arbitration industry but complements the service offerings of arbitration centres. They’re long- term vision is to work closely with industry-specific organisations and experts to gain a better understanding of how to adjust and modify the Court services to assist better with arbitration-related disputes, stated by Zaki Azmi, Chief Justice of DIFC Courts. On February 2020, the Arbitration Division accommodate the increasing number of arbitration-related cases established by the DIFC Courts. The Arbitration Division leverages dedicated judicial, registry oversight and case management expertise chaired by Justice Shamlan Al Sawalehi. The arbitration-related cases filed under the new division has led to increased efficiency of the process, injunctive relief mechanisms and ability to swiftly review applications for the interim measures. The DIFC Courts exhibits regional, extensive national and global connectivity for empowering its specialised Arbitration Division in order to leverage existing enforcement expertise that ensures the certainty of recognition and enforcement of arbitral awards. DIFC Courts are used by companies, lawyers and law firms by ensuring to write the court’s jurisdiction into their contracts for dispute resolution. The DIFC Courts are chosen for arbitration-related disputes as supervisory court and as a default seat.

Adoption of the Technology

The DIFC Courts delivers all services with an advanced technology infrastructure, accessible through tablets, smartphones or desktop devices on the COVID-19 pandemic. The Courts has pioneered to increase the access to justice amidst several technologies. The region’s first fully integrated e-Courtroom and Case Management System in 2016, that serves the region’s first ‘paperless’ e-bundling solution in 2018. Recently, the new Arbitration Division hears applicants through teleconference, released Courts Orders and Judgements digitally. The Arbitration Working Group launches the inaugural meeting through video conferencing on October 1, that substantially discusses the objectives and functions as the next steps for the task force.

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