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How to setup a business in sharjah
To setup a business in sharjah you need to consider a few thing and adapt it when you are executing you plan; to lunch your business in sharjah, or simply we can say that when you are going to Setup business in Sharjah. You need the following couple of core matters to be considered,
First thing first you need to think that where to start your business. Because UAE is made of seven emirates and all have their own rules and his own regulations. The procedure for setting up business in Sharjah has different rules from business setup in other part of the UAE
Then 2nd thing you need to understand for starting any business is that there are a lot of zones within the UAE for business setup. That is business can be setup in mainland, or it can be setup in free zone. It is very and very important to select the accurate authority for your business setup. In sharjah you can setup both option either in mainland or in any out of the two free zone. Let me help you to select one on the base of the one key factor. If you want international trade outside of the UAE country then free trade zone is the best choice for type of the business.
Another example is, if you would like to trade in precious metals or commodities then there are specific free zones which have develop infrastructure and helping in trading commodities.
Choosing Sharjah as your business location or in other words, if you want business setup in Sharjah there should be clear understanding of your business needs.
Why Business Setup in Sharjah?
UAE has the commercial stability even earlier the foundation of the UAE. United Arab Emirates is enjoying the economic as well as commercial stability and constant progress over the years and it turn out to be a global financial hub.
Sharjah is the center part of the UAE with great status in potentials growth, civil stability, financial activities and low crime rate. The capability of the UAE is to survive the effects of the universal money related crises shows the stability of the country.
Management took steps to fascinate the overseas financiers to put in the market by their open financial policies, approachable overseas venture policies, rules for private sectors, established infrastructures and least organizational control.
It is one of the best offshore locations to start the business due to,
• World class services for living and as well as for doing business in Sharjah.
• Sharjah turn into creator in health, education and management sectors.
• Stable government with fast growing economy.
• Expo 2020 host country title has been awarded to Dubai.
• Pre-defined business jurisdictions with developed infrastructures.
• UAE is the business hub in MENA region.
There are 100 of reasons to choose to set up business in Sharjah. Now days everybody is considering for a Business Setup in UAE, and especially in Sharjah. Some people looking to Setup new business but some of them are looking to buy an existing business in Sharjah mainland or in free zone. And on the same way most of the clients are looking for new business setup in Sharjah as a branch office or as a representative office in Sharjah. Business Setup in UAE is a visualization of every businessmen round the globe. However, Business setup in UAE is very exciting job, as the rising economy of Dubai is appealing for competitor in the county which is making issue for new business startups to take control. So business setup in UAE compulsory a proper guide line to enter in a new market.
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Cancellation of company license in Dubai
Cancellation of company or business or business license in Dubai is very important part of company life cycle in UAE. Business need to close if they do not have enough money to run their business, or their business is not running correctly or they are not in the earning side of the market; and to continue their operations, to pay their employees or cover their debt. Terminating also becomes mandatory when a company obligates a serious violation of the regulation; or also in case of fraud and UAE business regulatory finds violations. or when the company gets a legal notice that affects its regular operations. So corporation needs to be shut down; and by shut down we mean closing company in Dubai. But note that once a business license is shut down; the same cannot be re-opening. For company liquidation in Dubai, you need to submit a number of documents and get different authorizations from the government agencies.
With Dubai and Abu Dhabi at the head, the UAE has developed a business center. Still, in certain cases companies can surface difficult financial conditions or the owners and also stockholder agree to take their business to another place. This calls for the company license cancellation proceedings to be initiated. This procedure will depend on the company’s economic status at the instant of the start of the process. LLC license cancellation in Dubai can also be bringing up to as trade license cancellation in the Emirate.
Types of LLC license cancellation in Dubai
As mentioned above, a Dubai company can be close willingly or when it cannot able to pay its debts. The Company Law provides for two types of LLC license cancellation in Dubai:
1. Intended liquidation;
2. Compulsory liquidation.
Our company formation agents in Dubai can offer more information about DED license cancellation procedures under the Commercial Law.
Procedure of company liquidation in Dubai
Intentional or compulsory company license cancellation can be requested by the owners or the stakeholder in Dubai. The stakeholder or the owner of the company will hold a meeting during which a resolution must be approved for the liquidation process to begin, in the case of intentional dissolution. During the same meeting a liquidator must be hired. In the case of compulsory liquidation, the procedure will begin by court order.
The business legal agents will be required to file the following documents with the Dubai Trade Register:
• The document stating the dissolution of the company and the appointment of the liquidator;
• A certified copy with the signatures of the company’s directors and liquidator attesting to the liquidation;
• The company’s certificate of registration and its trade license;
• A copy after the liquidator’s license accompanied by a letter stating the approval of the liquidation.
A large part of closing company in Dubai deals with final compensation for employees. The owner or owners of the company will have to cancel their employees’ visas as well as their work permits. This requires coordination with both the Department of Naturalization and Residency and the Ministry of Labor. As per UAE labor law, employers are required to give their employees a two month, paid notice period before terminating their contracts. In many cases, employees can keep their residency visas until the company’s trade license runs out.
Apart from finalizing labor contracts, it is also necessary to formally cancel any subscribed utilities, including cancelling your account with DEWA and Etisalat or du and retrieving your deposits. Office or warehouse leases will also have to be honored. Taking into consideration that license cancellation of all legal forms requires the application of specific documents and approvals from government and federal authorities if necessary.
Looking for sponsor in Dubai
Starting a business in Dubai and operating a company in the Dubai Mainland area requires a local sponsor be must appointed. When overseas shareholder setups a company in Dubai, the UAE regulation states that a local UAE sponsor be appointed for descriptive contacts with the departments and the government for getting the various paperwork done. A local Emirati sponsor is an Emirati or a UAE national, who acts as your service agent for your company operating in the UAE and he usually acts as a non-active partner of your business.
Being a compulsory requirement, it’s a physical, unavoidable task for expat businessman to find the correct Emirati sponsor in Dubai, for their business setup in Dubai, which must be appropriate for their line of business. Usually an Emirati service agent has no specific role or attention in the company but is appointed for the sole determination of linking with the government branches and establishments to get labor and immigration authorization for visas and complete other necessary paperwork for the business. The Local sponsor in Dubai is to be paid an annual fee for his services.
When setting up a local company as per the UAE Companies Law and UAE Civil Law, the foreign investor are need to get a local Emirati as partner (which are often called sponsors) when setting up a business. This type of a venture is called an LLC company formation and suit able for commercial Trading entity. The local partner must hold the majority equity share holding of 51% or more. We at Shams Consultant differ as we can now offer that local sponsor as a corporate nominee partner rather than an individual UAE national.
General Trading License In Dubai
Dubai is leading business hub and it is the fastest growing zone in terms of economy and splendid lifestyle. The fast paced corporate structure of Dubai has turned it into one amongst the favorite destination for General Trading business. The business atmosphere of Dubai is alluring large number of entrepreneurs to conceptualize their ideas and thoughts for General Trading License in Dubai. However, they ignore the tediousness and the hassles that may obstruct the goals of General Trading License in Dubai.
Shams Consultant is a registered service provider for the General Trading License in Dubai and is authorized by Dubai Economic Department (DED). Shams Consultant has been providing these services with a legal standing and has never been involved in any activities that are legally unauthorized by the respective government authorities. The fees for General Trading License in Dubai depends on what are the processes involved, which in fact depends on the nature of your business. The fees levied by Shams Consultant are strictly as per the rules prevailing with the Dubai Government’s procedures for such services.
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Automotive - Recreational
Businesses For Sale
Buy and Sell
Moderation / Technical Issues
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