Free Zone
simsim
2017-08-21T14:26:38+00:00
- Is it possible to establish a limited liability company for several professional activities?
- No, a limited liability companies is restricted to trading and industrial activities, and civil business companies are established for practicing professional activities.
- What is the validity period of the license?
- Minimum validity period for a license is one year from the date of issuance, and it is renewable. A license may be issued or renewed for a maximum period of four years.
- What are the licenses which require a local services agent?
- All licenses of professional activities for individual establishments or companies which are not owned or subscribed to by a UAE national or owned 100% by other GCCC nationals require a local services agent.
- What is the number of activities allowed to be registered in one single license?
- A license may include a number of related activities which shall not exceed ten activities.
- How long is an initial approval valid for?
- An initial approval will be valid for a period of 6 months from the date of issuance, and it can be renewed ten days prior to the date of expiry.
- Is it possible to amend the type of activity or trade name in an initial approval?
- Yes, this can be done against payment of approval fees again.
- Is it required to register a trade name in order to apply for an initial approval?
- No, a trade name may be reserved for a one year period and is renewable against payment of due fees.
- In case of obtaining an approval from other government authorities for any suspended activity, is it possible to obtain the Department’s approval for issuing a license for such an activity?
- Yes, approval for the license can be granted.
- What are the requirements of a bank certificate confirming deposit of the capital?
- certificate is required to be issued in the name of the establishment or company under formation by one of the banks operating in the UAE confirming deposit of the capital.
- What are the requirements of appointing an auditor for a limited liability company?
- A limited liability company must have an auditor, who is accredited in the U.A.E., and the auditor should be appointed by the general assembly.
- After obtaining an initial approval, do I have the right to proceed with carrying out of the activity?
- Can my minor son, who is under 18 years of age, become my partner in a limited liability company?
- Is it required to lease a premises to operate an activity, or is it possible to carry out such an activity from a living accommodation? Are there any specific requirements or conditions governing the premises such as space or location?
- A separate premise is required to operate the activity.
- What is the minimum number of partners in a private shareholding company?
- What is the minimum capital required for establishing a limited liability company, and how can one prove availability of the required capital?
- The minimum share capital is AED 300,000/- and availability of the share capital can be proven by the capital letter available from the respective bank. For a branch office, the share capital is not required but a bank guarantee from the parent company is a must.
- Can a limited liability company be changed into a sole establishment?
- Is it possible to open a branch for an establishment existing in another Emirate?
- Can a non-UAE national obtain a license without a partner or local services agent?
- Can a professional activity be integrated with a trading activity in the same license?