Sole Establishment in Dubai
Sole Proprietorship in UAE
Sole Proprietorship in UAE, also known as the sole establishment, is a legal entity owned and controlled by a single owner. The sole owner is in direct charge of the company’s operations and profits and enjoys unlimited liability; that is, he or she is entirely responsible for the company’s debts or obligations. As we are specialized in business setup in Dubai, UAE, we are always happy to help you with the formation of a sole proprietorship in Dubai or anywhere in UAE.
Benefits of Sole Establishment in UAE
By setting up a sole establishment in UAE with us, you will enjoy many perks.
- Foreign professionals will be able to retain 100% foreign ownership in the business
- Anywhere in the U.A.E., including Free Zones, the organization can legally practice professional services
- No limits on the location where the organization can rent/buy office space
- The government has entirely waived any requirements for paid-up capital
- Decide on a trading name for your Dubai establishment
- Get the Department of Economic Development’s initial approval
- Just fill out the business license registration form and submit all the essential documents to the registrar
- Pay fees and get the license
- Get a place for an office
- Copy of your passport
- Trade name for your establishment
- The business activity in which your sole establishment will engage
- Your local service agent Emirates ID copy
- Location Details
Why Should You Set Up A Sole Proprietorship UAE?
Generally, you profit a lot by starting up a sole proprietorship, and it takes absolutely no time and requires a bare minimum amount of legal work. Often, sole proprietorship entities are referred to as “pass-through” tax firms. Tax law usually levies a tax on a corporation’s profits and then on its shareholders’ dividend payments- the capital the gain tax. The sole proprietor also declares all income—or losses—from the corporation at personal tax rates to his taxes.
How to Establish a Sole Proprietorship in UAE?
For foreign venture capitalists who want to set up a sole establishment in Dubai or anywhere in UAE, a local agent will be required. If you are looking for an agent, your hunt ends here because you always have Bytes for you. You can conduct a commercial or professional activity by creating a sole proprietorship, so the license obtained must represent these practices. UAE or GCC nationals can conduct all the commercial activities with sole establishment but the expatriates can do only professional activities like medical services, engineering, legal or IT consultancies, software development, IT services, delivery services, travel & tourism, building maintenance, and technical services.
How Can Bytes Help You?
Business setup in UAE is a tempting choice, and a business person must choose the most suitable business arrangement to execute one’s operations. Our team of professionals has years of Sole Proprietorship company formation experience in Dubai and all over UAE, which can help your company establish a good foothold in this growing economy.
Get in touch for business setup services in Dubai, and we’d love to help you!!