Company
| Company Type | Free Zone Company in the Emirate of Dubai with the DWC Registry located in the Dubai South district. |
| Authorized Activities | The company can engage in any activity except banking, insurance and financial activities such as currency exchange. The management of funds for third parties is not permitted. |
| Restrictions | A company registered with DWC cannot create a subsidiary. It cannot therefore act as a holding company (parent company). |
Share Capital
| Authorized Currency | United Arab Emirates Dirhams (AED) |
| Minimum Capital | Min. AED 300,000 |
| Maximum Capital | No limit |
| Release of Share Capital | It is not required to deposit the share capital when the company is created. |
Accounting & Audits
| Bookeeping & Audits | It is mandatory to keep accounts and perform an annual audit of the accounts |
| Justification of Expenditure and Revenue | Nothing to justify (unjustified expenses will be debited from the partner’s shareholder account) |
Manager
| Eligibility | Any individual or legal entity. Nominee Directors are not permitted. |
| Minimum Number of Managers | One. Can be a person or legal entity. If legal entity, then the manager must be a natural person |
| Mandatory Local Manager | Not required. They can reside in any country |
Shareholders
| Minimum Number of Shareholders | One. |
| Maximum Number of Shareholders | No limit. |
| Eligibility | Any individual (21+ yrs) or legal entity. Any nationality. Nominee Shareholders are not permitted. |
| Mandatory Local Shareholder | Not required. Shareholder(s) can reside in any country. |
Set Up Timeline
The timelines are as follows:
- Your presence is required for 2 days in Dubai to sign the articles of association of your company in front of a Registry Officer.
- 14 days max. to receive the Certificate of Registration of your company;
- Residence visa: 3 weeks from the registration of your company (does not require your presence) + 5 working days (you must be present in Dubai during these 5 days from Sunday morning to Thursday evening of the same week) to receive your residence visa. We will meet with the bank the same day as your visa is obtained to open your bank account.
- Around 7 working days to obtain your bank account number following the registration of your company (if remote opening) or following obtaining your visa (if opening on site).
- The bank card is then sent by the bank by express courier to the address of your choice around the world approx. 15 days after the payment of your first funds into your account.
Pricing
Company Set Up Package
In addition to the above fees:
- Shared Office-Type A: AED 16,900 per year for an office allowing up to 2 visas to be obtained (for partners and/ or employees), or
- Shared Office-Type B: AED 26,900 per year for an office allowing up to 3 visas to be obtained (for partners and/ or employees), or
- Private Office: from AED 50,000 per year (count 10m2 per visa, eg: an office of 100m2 therefore allows you to obtain 10 visas for partners and/ or employees).
Our packages include the following:
Services provided for one time Company Set Up Costs:
– Service Charge -> these are our fees (nothing to add all is included!)
– VAT and accountancy training -> we explain how VAT works and your company’s accounting obligations
– Salary Register -> establishment of the Employee Register
– Company stamp -> this is a stamp that complies with local regulations (required for opening a bank account, etc.)
– FREE assistance in opening a bank account -> we assist you in opening a bank account for your company
– FREE setup of invoicing and accounting application -> Installation and configuration of invoicing and accounting software
Services provided with Maintenance Costs per year:
– Service Charge -> our fee for renewing and monitoring your company
– UNLIMITED after-sale support concerning your company in the UAE -> we provide unlimited customer support to answer all your questions
– Coordination with Accountant -> we provide a coordination service with the accountant of your company
– Coordination with Auditor -> we provide a coordination service with the auditor of your company
– Coordination with Tax Agent -> we provide a coordination service with the tax agent in charge of the VAT of your company
– Subscription to Merritt Updates -> legal, fiscal and social watch on the Emirates sent by email
– UNLIMITED access to Merritt.center -> all administrative, legal and accounting documents of your company in a secure customer portal
– UNLIMITED access to Merritt.guide -> all useful information for your company and your residence in the UAE
– Maintenance of UBO Register -> this involves maintaining and updating the Register of final beneficiaries as required by the Authorities
– Correspondence address in Dubai (including UNLIMITED scan and forward of your mails and courier) -> we scan / resend your mail as soon as it arrives according to your instructions
– FREE shared telephone number in the UAE (with answering in English and Arabic) -> shared telephone number with telephone secretary in English and Arabic
– FREE domain name + WordPress pre-installed + emails-> domain name + installation of a WordPress showcase site + email addresses on a server located in Dubai
Residence Package
Applicable Discounts:
– Exchange Driving License: the driving license exchange fees can be deducted if not applicable (see list on next page).
– Medical check: the costs of the medical test can be deducted for children under 15 years old.
The Residence Packages are in addition to our Company Packages. They are not mandatory and can be purchased at any time without limiting their period of validity.
Our packages include the following:
- Residence visa (with support and assistance for all formalities) -> we accompany you through all the steps to obtain your residence visa using an air-conditioned vehicle with driver from our offices in Dubai. The person from our team who will accompany you speaks French, English and Arabic.
- EmiratesID -> we request and receive your UAE identity card at our PO Box
- UAE driving license exchange -> as part of the recognition of your foreign license, we accompany you through the steps to obtain it at the police station
- Assistance in opening a personal bank account -> we assist you in opening a
personal bank account in Dubai - Assistance in opening a brokerage/ saving bank account -> we assist you in opening an investment account (Saxo Bank, EmiratesNBD Private Banking, etc.).
- UNLIMITED after-sale support with information concerning your residency in the UAE: insurances (health, home, car, travel), succession planning, etc. -> we provide unlimited customer support to answer all your questions about your residence in the Emirates and advise you: insurance in the Emirates (health, car, accommodation, travel), inheritance, etc.
