Chryso Christofidou Managing Director
Chryso Christofidou is managing under her portfolio well known international joint ventures, promising start-ups and Trusts as well as high net worth individuals and entities.
A Dubai Limited Liability Company (LLC) or sole establishment (one single owner) allows you to do local trade and services. It is recommended for companies who want to pursue trading business within the UAE and internationally.
A Dubai limited liability company (LLC) is an ideal vehicle to use for entrepreneurs doing business within Dubai, the U.A.E. and internationally. With Dubai Company, you still can own only 100% of the equity, provided the company’s activity is a professional one and not a commercial activity.
A Dubai Company can be formed with a minimum of two and a maximum of 50 persons whose liability is limited to their shares in the company’s capital. Companies with expatriate partners typically opt for this form of company.
A local UAE national still needs to be appointed a local agent of the company but has no shareholder or jurisdiction over the company whatsoever. He will collect a fixed fee to perform a statutory position within the constitution of the company.
A local company must appoint a manager as well. A manager must be a qualified individual for the professional license chosen. In our case a management consulting company has to appoint someone with a Business Bachelor’s degree. The manager also needs to have 5 years relevant experience. In 2018 the Department of Economic Development introduced examinations for all managers being appointed into a Dubai License. The Exam costs about 600 USD to sit and of course relevant preparation is required.
OBTAIN PROFESSIONAL IMMIGRATION ADVICEIf you have any questions in any of the directions, please contact us.
The cost of Feod Group lawyers’ services for registering a new company in Dubai is $ 35,500. Included in the price:
In order for your company to be located within our office, our local agent has to be your agent as all licenses in this office need to be under the same local agent.
The UAE has implemented VAT from 1st January 2018. Please note that all Free zone and mainland companies must register for VAT if their turnover is more than 100K USD a year. Also note supplies made outside the UAE are zero rated, however all supplies within the UAE and GCC 5% VAT applies.
Our office can register your company as well as carry out all VAT submissions and bookkeeping.
Tax Residence Certificates for Companies and individuals
Once a Free zone or local company is set up, we can acquire tax residence certificates within the 1st year. A company audit,12 months bank account statements are required to be submitted to the UAE government. Once the submission is made it takes about 4 weeks to receive the tax residence certificate. The cost for a corporate TRC is 4,150USD including all government fees. We can take on company audits for a pre agreed fee, price range for an SME from 1,500USD to 3,000 depending on number of transactions, complexity of industry, records kept by client.
Any individual who acquires a residence visa from the company can receive a TRC within 6 months. The cost of a TRC is 2,000USD including all government fees.
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