Is It Mandatory to Keep the Records in the UAE for all the Businesses
April 5, 2023
Is It Mandatory to Keep the Records in the UAE for all the Businesses Yes, it is mandatory for businesses operating in the UAE to
A Sole Proprietorship Company in Dubai can be formed only by a UAE national or a national of the Gulf Cooperation Council (GCC). For a non-UAE national, establishing a sole proprietor company would require him/her to have a residence permit and a local sponsor. They can be a Dubai national or company. In case the sole proprietor is to carry out a professional or commercial activity, he/she must obtain the appropriate license.
Unlike a UAE Limited Liability Company (LLC), which requires that at least 51% of shares must be registered to a UAE/GCC national sponsor, a qualified foreign investor that sets up an establishment or sole proprietorship to practice a professional service is permitted 100% ownership in the company.
Establishments that are owned by foreign nationals are required to appoint a National Service Agent (NSA) to assist in obtaining licences, visas etc. NSAs have no direct involvement in the business. Sovereign is able to act as the NSA.
Business setup in Dubai is a lucrative choice, and it is pivotal that a businessperson selects the most appropriate company structure to conduct one’s operations. Alya supports companies globally to set up their business in Dubai by handling all the formalities and legalities of sole trader company registration from start to finish. Our team of experts has years of expertise in company formation in Dubai, which can help your business gain a robust foothold in this growing economy. Contact us for business setup services in Dubai, and we’d be glad to assist you.
Is It Mandatory to Keep the Records in the UAE for all the Businesses Yes, it is mandatory for businesses operating in the UAE to
Accounting Treatments (IFRS) for Crypto Currency – UAE At present, there is no specific International Financial Reporting Standard (IFRS) that specifically applies to cryptocurrency. However,
Corporate Tax Registration in the UAE Corporate Tax Registration in the UAE is a process that requires attention to detail and proper compliance with relevant
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Definitely, Alya Auditors is the one partner you need to ensure your business is built on accurate accounting books certainly, to spearhead greater growth and wider market reach.
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