Year after year, market trends change according to the new mechanisms, transformations and commercial behavior of each area and each country. Therefore, the types of businesses, investment alternatives and other sources that represent income are altered with over time. A fundamental aspect that you must take into account is that you must have a commercial license before giving a business setup in the UAE. Although it seems to be a complicated market place, it offers several profitable businesses that can be installed there.
Individual Company (Sole Proprietorship) –
- Number of partners or shareholders: 1 person. It can be controlled by a non-resident.
- Minimum or maximum capital: no minimum capital.
- Responsibility of the partners: The individual entrepreneur is responsible for the debts.
Public Joint-Stock Company –
- Number of partners: Minimum of 10 members. It is 51% must belong to UAE nationals.
- Minimum or maximum capital: Minimum of 10 million AED
- Liability of the partners: Liability limited to the amount contributed.
Private Joint-stock Company –
- Number of partners: Minimum of 3 members. It is 51% must belong to UAE nationals.
- Minimum or maximum capital: Minimum of AED 2 million.
- Liability of the partners: Liability limited to the amount contributed.
Limited Liability Company –
- Number of partners or shareholders: Minimum 2 members – maximum 50 members.
- Minimum or maximum capital: No minimum required.
- Liability of the partners: Liability limited to the amount of their contributions.
General Partnership –
- Number of partners or shareholders: 2 partners minimum, UAE nationals only.
- Minimum or maximum capital: No minimum required.
- Liability of the partners: Unlimited liability.
Limited Partnership –
- Number of partners: At least one general partner (UAE nationals only) and one limited partner.
- Minimum or maximum capital: No minimum capital.
- Liability of the partners: At least one of the partners must have unlimited liability.
Conclusion
Dubai is the most modern and progressive emirate in the UAE, which is developing in a very important and dynamic way. Investors are setting up their businesses in Dubai because they know the potential of the city and the future it projects. The city is characterized by tax service exemption zones and merchandise duty payments.
