Overview of Mainland Professional sole Establishment and Civil Company Formation in United Arab Emirates
Professional companies are those whose activities are considered as professional services. The following are the main points to be understood in order to set up a UAE mainland professional license.
- A professional company is a firm whose performance stems from the intellectual efforts and capacity of its partners. For instance, a law firm is a professional company, since its activities rely on the academic qualifications and the experience of its lawyers.
- To ensure that UAE companies remain professional, the government requires that all shareholders have educational qualifications and follow the right procedures for company formation in Dubai and all other Emirates.
- The UAE remains popular among foreign investors. Multinational services companies have opened branches in Dubai and other emirates in the UAE to enhance their international clientele.
- Nonetheless, the emirate has exclusive rules that guide the conduct of companies. For instance, professional service providers can only apply for specific trade licenses. Also, the government monitors the service providers’ marketing tools such as websites and advertisement content to ensure compliance with cultural and professional conduct.
- Some of the professional trade licenses necessitate the attainment of additional qualifications and examinations.
- It can be 100% owned by expatriate shareholders.
- A UAE national is required as a service agent.
- UAE national does not hold any share in the company.
- As a service agent, the UAE national receives fixed annual charges.
- There is no minimum share capital requirement.
- A degree, experience, and relevant certificates for shareholders are mandatory.
- For more than one shareholder, the professional companies can be formed and it is designated as a civil company.
- Renting an office or shop is mandatory to set up a mainland professional company in Dubai or any other Emirate. However, in Dubai, the recently Government has allowed to register mainland professional companies on desk facilities (Sustainability Centers).
- Some of the fields in professional companies include; management consultancy, IT consultancy, administrative services, legal consultancy, accountancy services, and educational services. To obtain a consultancy professional license in Dubai Mainland, it is mandatory to pass an exam.
- The shareholder of the mainland professional company is eligible to get a residence visa valid for 3 years and can also sponsor family members subject to fulfilling document requirements.
- Any number of employees can be recruited in an LLC subject to fulfilling requirements from the Labour department.