SETTING UP A BUSINESS IN UAE - AN INTRODUCTION FOR ASPIRING MALAYSIAN BUSINESSES.
Courtesy article from Primillian Holdings & MS Law.
GENERAL
United Arab Emirates is a federation of states. Like in United States of America, each Emirates is unique. Each Emirate has its own Economic Department which leads and handles all economic matters in the Emirate.
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Similar to one SSM for every state in Malaysia, each having their own authority and regulations. An Entity established in one Emirate can only operate in that Emirate. Dubai : Dubai. Abu Dhabi : Abu Dhabi.
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If you want to operate in more than one Emirate, you open new entities in the other Emirate.
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There are Freezones. Each Freezone is a special place. Imagine each freezone as an offshore place – Labuan, BVI. Tax free but there are a lot of charges. Government needs to have revenue. Hence, government charges can be of a premium.
PROOF OF YOUR BUSINESS EXISTANCE.
The UAE authorities need to know that the Malaysian company is validly incorporated, and still operating. It also needs to know that the people representing the company here are properly appointed.
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You need to do a few things with your (i) certificate of incorporation (ii) register of directors (iii) By Laws / Constitution and you may need to give a (iv) Power of Attorney by the Company in favour of the
people who will represent the Company in the UAE.
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Read on below.
STEPS AS PROOF YOUR EXISTANCE.
First, your adviser is to confirm what documents are required.
Then you take all the documents to a notary public to authenticate the documents.
Proceed to the Ministry of
Foreign Affairs (Wisma Putra) to attest the documents.
Attest the documents at UAE Embassy in Kuala Lumpur.
Then you courier all the documents to UAE. The documents would need to be translated into Arabic.
The translation is then stamped by the Ministry of Justice.
Then the UAE Ministry of Foreign Affairs will stamp it.
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Once all done, the documents are LEGAL and can be used in the UAE for
incorporation, opening bank accounts
etc.
NEED TO KNOW MORE? CONSULT WITH US.
This article is prepared based on generally available information. Whilst every effort has been made on the
accuracy, there is no assumption of any liability or the provision of any representation or warranties with respect to the information contained herein. All requirements may change. This is only a
snapshot and is not definitive. Further details will be provided by your engaged adviser.