Establishment by GCC Citizen

Establishment by GCC Citizen in UAE

Dubai remains an appealing investment destination for GCC investors due to its central location, shared religious and cultural values and cosmopolitan lifestyle, world-class infrastructure and a broad range of facilities for businesses and tourists. Dubai is the most attractive destination to private investors in the GCC region, according to a new report published by real estate firm Cluttons..

A branch of a GCC-based company must undertake one or all of the activities included in the main company license. For a company with multiple branches, each branch can undertake different activities as long as they were all included in the original license for the main company.

Accords

• A UAE national or GCC national can set up and own this legal form of firm.
• A corporate body which is 100 per cent owned by UAE or GCC nationals can own such a firm.
• The owner is a shareholder and his liability is limited to the value of the shares he holds.
• Share capital is as recorded in the Memorandum of Association
• The trade name should include owner name, legal form (one person co.) and end with LLC.
• A GCC investor needs no UAE sponsor to have partnership with foreign investors in Dubai. The initiative is part of DED’s efforts to strengthen partnerships in the business community, attract new capital, and raise overall competitiveness in Dubai to enhance the emirate’s position in the global economic landscape.
• Other GCC nationals or companies incorporated in other GCC states cannot act as agents in the UAE either alone or in partnership with a UAE national or company.

The adoption of a common Customs law, which unifies Customs procedures in all GCC Customs administrations and enhances cooperation among member States in the Customs field, is one of the envisaged objectives