Company Formation Services
Advising on Company Formation
While taking a decision on the formation of a company one may have to look into several alternatives before reaching a logical conclusion. Sometimes, these tasks are exhaustive and if the alternatives are not evaluated properly, they may cost dearly as a one-time and recurring cost.
During the course of company formation, the following matters need to be evaluated:
- The structure of ownership including number of partners
- Capital investment into the company
- Working capital requirements
- Place of operation and staffing
- Regulatory compliances
- Books of accounts
Investments in GCC countries in terms of setting up of businesses have increased multi fold in recent months more particularly in UAE, Saudi Arabia and Bahrain. Amongst the three destinations, UAE is the top destination for the potential investors to set up a business.
While the experience of forming a company has been hassle free in UAE since sometime, Saudi Arabi and Bahrain has also eased the process and moving to more simplified systems and processes that would make it a user-friendly task for setting up and operating a company.
While taking a decision on forming a company, a foreigner has to decide on several factors such as opening a company in a free zone or main land. Whether a dedicated office space is required? How many Visas are required?
Governments have also come out with lucrative schemes to lure investors in their respective countries by providing cheaper options of small licensing fees, low rental options, flexibility in visa applications, etc.
While majority of the investors prefer to have a free zone given the simplicity involved in opening and operating a company, the main land also has its own advantages.
Company formation primarily involves deciding on the name of the company, making an application for license followed by the immigration and visa formalities. Renting an office is not an issue as the license can be granted based on work station. Once everything is completed, bank account opening becomes a critical factor.
UAE offers more than 40 free zones and one can chose a free zone depending on their own requirements and preferences. While Saudi Arabia do not have the system of free zones instead, they offer Economic Cities and Special Zones with several incentives and offering for potential investors. Bahrain also offers free zone but setting up a company outside the free zone is relatively hassle free and cost effective as well.
A potential investor has to submit certain key documents for starting the process such as pass port copy, existing company license, minimum funds etc.
MIA has a dedicated team supporting potential investors by providing them information on various available options that will help in taking a cost effective and viable option.
MIA provides end to end solutions in company formation. Please feel free to contact us should you have any queries
