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Map of Dubai

Land Area: 4,114 Square kms

Population: 2.091(approx.) millions

Climate: The climate of Dubai features a hot arid climate. Summers in Dubai are extremely hot, humid and very dry, with an average high around 40 C (104 F) yet usually higher than 40, and overnight lows around 30 C (86 F). The highest recorded temperature in Dubai is 48.5 C (119 F) on 27 July 2012.[1][2] Most days are sunny throughout the year. Winters are cool and short with an average high of 23 C (73 F) and overnight lows of 14 C (57 F). Precipitation, however, has been increasing in the last few decades with accumulated rain reaching 150 mm (5.91 in) per year.[3] The climate of Dubai is an arid subtropical climate because of its location within the Northern desert belt. The weather in Dubai can bring short and irregular rainfall as is typical for the Middle East. Most of the rainfall in Dubai occurs between December, January, February and March. The weather between December and March remains cool and is considered as most comfortable climatic conditions throughout the year.

GDP: 83.84 billions USD(2011)

Time Zone: GMT + 4:00

Literacy: The literacy rate of Dubai is nearly 90%

Environmental- Current Issues: Lack of natural freshwater resources compensated by desalination plants; desertification; beach pollution from oil spills.

International Airports: Dubai International Airport is an international airport serving Dubai. It is a major aviation hub in the Middle East, and is the main airport of Dubai. It is situated in the Al Garhoud district, 4 km (2.5 mi) northeast of Dubai. The airport is operated by the Department of Civil Aviation and is the home base of Dubai's international airlines

• Ports of Entry: The two main ports in Dubai which are operated by the Dubai port authority are Port Rashid and Jebel Ali Port. These are the biggest man made ports of the world and is also said to be the best Seaport and the best Container Terminal Operator.

Tax Rates in Dubai

  • Financial Year :January 1 to December 31
  • Tax rates for Year 2012-13

Nature of Assessee Rate of Tax
Individuals 0%
Company 0%

Procedure for Setting up a Company in Dubai

A Limited Liability Company is the most common form of business entity currently formed in UAE. A limited liability company can be formed by a minimum of two and a maximum of 50 persons whose liability is limited to their shares in the companys capital. The minimum equity participation by UAE national is 51%. Capital required to form a limited liability company in Dubai is AED 300,000 (US$ 81,744) contributed in cash or in kind. However, in other Emirates viz., Abu Dhabi, Sharjah, Fujairah etc., the capital requirement is AED 150,000 (US$ 40,872). Profit or loss distribution can be prescribed and responsibility of management of an LLC can be vested in the foreign or national partners or third party. The shares of such company are not open for subscription by the public and they do not issue negotiable shares.

Process of establishing an 'LLC'

  • Obtain initial approval for name and activity from the Department of Economic Development or the Economic Development Department/Municipality/the Chamber of Commerce.
  • Obtain approval from concerned Ministry/Department in case the activity is of special nature
  • Draw up companys Memorandum of Association and have it notarized from courts of respective Emirates.
  • Capital contribution certificate to be obtained from banks for cash shares and auditors certificate for both cash shares and kind shares.
  • Submit applications and initial approval along with notarized copy of Memorandum of Association, capital certificate, tenancy contract etc., to the Department of Economic Development or the Municipality.
  • After scrutiny by the legal department, the Company name will be entered in the Commercial Register and have its Memorandum of Association published in the Ministry of Economy and Commerce Bulletin.
  • The Department of Economic Development or the Municipality will then issue the license.
  • Department of Economic Development: Licensing Authority in the Emirate of Dubai.
  • Economic Development Department: Licensing Authority in the Emirate of Sharjah.
  • Municipality/Chamber of Commerce: Licensing Authority in other Emirates.
  • Activities requiring special approval: License to practice majority of the activities are directly issued by the licensing authority in the respective emirate. However, certain activities require special approval from the related Ministry/Department. (for e.g., medical, pharmacy etc ministry of health; air transport, air cargo etc dept. of civil aviation, financial institutions, banks, money exchange etc central bank; new industrial project, expansion ministry of finance and industry; publishing, printing, newspaper, advertising, video film, photography etc., ministry of information; education, training etc., - ministry of education; agriculture, veterinary etc ministry of agriculture; customs clearance, freight forwarding, sea cargo etc. seaports & customs authority, telecommunication equipment ministry of communication; branch of foreign company, insurance company, chartered accountants firm etc. ministry of economy), legal consultancy - rulers' office - engineering & contracting municipality.
What MNRS Offers

MNRS offers credible services relating to setting up of business in Dubai like

  • Registration of LLP, Company
  • Purchase of Shelf Dubai Company
  • Nominee Director (Natural Person) Dubai Resident / Non-Resident
  • Nominee Shareholders (Natural Person) Dubai Resident / Non-Resident
  • Secretarial Services including changes in LLP, Company Structure
  • Bank Account opening and providing nominee bank signatory
  • Virtual office facility (Space for meetings, Fax, Internet, reception, file storage etc.) in various cities of Dubai.
  • Dissolution of LLP, Company
  • Takeover or sale of existing business. (Liaison, due diligence, business valuation etc.)
 
Contact for this Service
CA Neeraj Kumar Agarwal
Partner
e-mail: Neeraj@mnrsindia.com
CS Shreyansh Jain
e-mail: Services@mnrsindia.com
Tel: +91 (11) 46502975
Telefax: +91(11) 29812975
Mob: 9313010417
     
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