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UAE, RAK and Dubai company formation. Fee packages from USD$450 and annual fees from USD$1200. "FBS KOTSOMITIS", operating since 1998, is a well-known and established international professional services network with officially licensed and regulated local member / partner firms. Contact us to start process by sending an email to enquiries@fbsemirates.com or by using our contact form.

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  • UAE VAT to Increase UAE Company Registrations

    UAE VAT to Increase UAE Company Registrations

    News and Update

    March, 2017

    The number of UAE company registrations is predicted to increase noticeably following the decision to introduce VAT in the UAE from 1st January 2018.

    UAE company registrations will increase because of:

    • The creation of a robust, stable revenue source with reduction on the dependence on oil revenues
    • The strengthening of the UAE economy which will lead to an increase of interest in the UAE by foreign investors
    • Many more foreign investors choosing to set up their companies in the UAE.

    Moreover, it will be interesting to see if the introduction of UAE VAT just ahead of proceedings for Brexit will benefit the UAE as multinational and foreign companies based in the UK might want to relocate their headquarters and operations and are bound to consider the UAE due to its:

    • Low tax base
    • Superb infrastructure
    • Strategic location

    …… and many more exciting benefits …….

    Click here to read the Advantages of Setting up a Company in the UAE

    and

    Click her to read the Lifestyle Advantages of the UAE

    It should be noted that a UAE VAT rate of 5% is unlikely to deter foreign companies and multinationals from setting up their headquarters and operations in the UAE.  This is because they are used to paying higher VAT rates in their home countries.

    Bottom line…..the UAE will retain its status as a low tax jurisdiction. This, as well as the UAE’s firm position as a world class regional business hub, will continue to attract multinationals despite the introduction of VAT.

    There is no doubt that introducing VAT at the rate of 5% from 1st January 2018 is a smart move by the UAE government.

    Contact Us NOW to Start the UAE Company Registration Process

    UAE VAT is expected to be introduced with some exceptions which include basic food items, education and healthcare. Other GCC countries may also implement VAT on 1 January 2018 or later, but by 1 January 2019 the latest.

    The average VAT rate in the world is about 15%.  The highest VAT rate for a OECD nation is Hungary at 27%.  The UAE VAT rate of 5% will be the lowest VAT rate in the world.

  • JAFZA Company Setups to Boost

    JAFZA Company Setups to Boost

    March, 2017

    JAFZA (Jebel Ali Free Zone Authority) company setups are expected to boost following the announcement of JAFZA’s partnership with The Global Manufacturing and Industrialisation Summit (GMIS).

    JAFZA company setups are expected to boost because of:

    • An increase of interest in JAFZA by foreign investors attending this event
    • An increase in economic growth and trade, particularly via manufacturing
    • More foreign investors wanting to set up their companies in JAFZA.

    Selecting JAFZA as a strategic partner of the Summit highlights the importance of the Jebel Ali Free Zone and the UAE as a prime destination for multinationals and global investors to set up companies.

    Connecting the world’s industry leaders and decision makers with a world-class international business hub like JAFZA is a step forward towards driving global prosperity.

    JAFZA is one of the world’s largest free zones and the UAE’s major trade and logistics hub.  JAFZA accounts for 21% of the annual Gross Domestic Product of Dubai and employs over 144,000 people.  The free zone houses thousands of companies from over 100 countries.

    The GMIS is a global event which focuses on the manufacturing industry.  Experts and leaders in the manufacturing community have a chance to come together, build strategic alliances and prosper from business opportunities.

    JAFZA Company Setup  

    Setting up a JAFZA company is a smart move ….. a move that will mean sustainable prosperity for your company.

    JAFZA’s clients have access to vast trade and investment opportunities, simply and efficiently.

    Contact Us NOW to start the JAFZA Company Setup Process

    Furthermore, opening a business at JAFZA means you can enjoy:

    • World-class business environment, facilities and infrastructure
    • Highly experienced personnel providing first-rate support and services
    • Value-added services and incentives
    • Simple, swift and hassle-free procedures

    Click here to read the Benefits of Setting up a Company in the JAFZA

    and

    Click her to read the Lifestyle Advantages of the UAE

  • DFZ Council to Boost Interest in Dubai Free Zones

    DFZ Council to Boost Interest in Dubai Free Zones

    February, 2017

    Plans to boost the global competitiveness of Dubai free zones, market free zone projects and investment opportunities to global investors have been approved.

    The Dubai Free Zone (DFZ) Council, at its fifth Council meeting has approved a strategy to boost the interest of international investors in Dubai’s free zones.

    The Dubai Free Zone Council was launched in April 2015. Its Chairman is H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Civil Aviation Authority and Chairman of the Emirates Group. The main role of the DFZ Council is to develop the free zones of Dubai to attract international investors and to create an environment that is a platform for boosting industry, tourism, commerce and services. The Council aims to implement a transparent legal environment and improve government services to attract investors.

    The Council approved the utilization of an integrated database for all free zones and discussed the already approved decision (approved in December) to support and facilitate free zone companies to transfer to other Dubai free zones.

    The DFZ Council’s new strategy outlines that it will continue to provide support and consultation to the individual free zones of Dubai at local, regional and international levels. The Council will provide assistance to free zones in improving operational procedures. The Council will market free zone projects and opportunities for investment to investors by participating in conferences and international exhibitions.

    Furthermore, the strategic plan covers a number of initiatives for free zones which are in line with the objectives of the Dubai Plan 2021. The Dubai Free Zone Council meeting also approved the signing of a MOU with the World Free Zones Organisation whose headquarters are in Dubai.

    The DFZ council will support the government with the development of its economic and investment strategy, investment opportunities and free zone projects by conducting research and compiling reports.

    The Council will implement best practices and develop and implement operational frameworks to boost the international competiveness of all Dubai free zones.

    Contact one of our officers to initiate the incorporation of your company and start reaping the full benefits of the UAE business climate. Simply fill in the contact box below or contact us by email on enquiries@fbsemirates.com or call on +971 7 20 20 999.

     

  • Dubai Multi Commodities Centre Free Zone Announces New Trading Technologies

    DGCX of Dubai Multi Commodities Centre Free Zone Announces New Trading Technologies

    March, 2017

    A boost to Dubai Multi Commodities Centre Free Zone company formation is expected following the announcement about its subsidiary, the Dubai Gold & Commodities Exchange (DGCX)’s cooperation with Trading Technologies International Inc (TT).

    The role of Dubai Multi Commodities Centre Free Zones is to facilitate, regulate and promote the trade of commodities such as gold, pearls, diamonds, tea and precious metals and provide the appropriate infrastructure and services necessary to achieve this.  DMCC Free Zone has incorporated top global companies in the commodities industry. DMCC’s success has firmly established the emirate of Dubai as a thriving commodities trading business hub.

    Dubai has always been renowned for its trade of gold and other commodities on an international scale.  The Dubai Gold & Commodities Exchange was created at the end of 2005 to facilitate and boost Dubai’s commodities industry.   DGCX was the first commodity exchange in the region and today is the leader in derivatives exchange for the whole of the Middle East.

    Contact Us NOW to start the DMCC Free Zone Company Incorporation Process

    DGCX provides services to manufacturers, producers and end users of commodities.  Furthermore, DGCX also provides price risk management which up to now has not been available to producers in the Middle East.  DGCX also provides opportunities for commodities trading to investment houses and financial communities in the Middle East and the rest of the world.

    Now DGCX has announced its cooperation with Trading Technologies International Inc, an international provider of high-performance professional trading software. Trading Technologies International have become approved Independent Software Vendors (ISV) for the DGCX.

    Click Here to read more about DMCC Company Registration Fees and Procedures

    With access to DGCX available now via the TT® trading platform, traders of commodities and currencies can use TT’s many functions, such as the TT Mobile applications for iOS and Android mobile devices in order to record and trade the full range of DGCX’s products.  This also gives TT’s users access to the biggest exchange traded Indian Rupee liquidity pool in the world.

    Contact one of our officers to initiate the incorporation of a DMCC Free Zone company and start reaping the full benefits of the Dubai Multi Commodities Centre Free Zone. Simply fill in the contact box below or contact us by email on enquiries@fbsemirates.com or call on +971 7 20 20 999.

  • Hamriyah Free Zone Authority set to Boost Company Set Ups

    Launch of Sharjah Food Park at Hamriyah Free Zone Authority set to Boost Company Set Ups

    March, 2017

    The number of new Hamriyah Free Zone Authority (HFZA) company set ups is predicted to increase following the launch of HFZA’s “Sharjah Food Park”.

    HFZA’s new company set ups will rise because it is strongly expected that the Food Park will boost the economic growth and trade of Sharjah. This will in turn lead to an increase of interest in Sharjah by foreign investors who will want to set up companies there.

    The Food Park is the biggest and most prestigious facility in the region focusing on food and food related industries.  It is a food industries hub dedicated to exports, imports, storage and packaging of foodstuff for the huge Middle East and North Africa food industry and the rest of the world.

    The launch of the Food Park was announced at a press conference held at the Dubai World Trade Centre on 2nd March.

    Here’s how to Set Up your Company in Hamriyah Free Zone Authority – Contact Us

    Nice to know facts about HFZA

    HFZA was established in 1995 and is the largest free zone in Sharjah and the second largest industrial hub in the United Arab Emirates. Sharjah contributes to the UAE’s GDP with over 100 billion AED.

    HFZA has set up over 6,500 free zone companies from 157 different countries. The Food Park houses offices, warehouses and worker accommodation and covers an area of 11 million sq ft. The new Food Park business centre will provide over 100 executive suites.

    At the HFZA Foodpark, Commercial Licenses can be granted for general trading or for specific trading and for up to 5 business activities. The Industrial License covers activities such as manufacturing, assembly, processing, packaging. Service Licenses cover various services including consultancy services.

    Click Here if you are Interested in  HFZA Company Set Up Procedures and Fees 

  • UK–UAE Double Tax Treaty – What You Need to Know

    UK–UAE Double Tax Treaty to Boost UAE Business and Economy

    January, 2017

    A boost in the UAE business and economy is strongly predicted following a Double Taxation Agreement between the United Kingdom and the United Arab Emirates that has been effective from 25th December 2016.

    It is considered of major significance to the UAE business and economy as many UK corporations and individual investors will set up companies in the UAE.  This certainly is a welcome outcome for many individuals and corporations and it clearly provides an opportunity for investment.

    The UAE-UK Double Tax Treaty attracts UK companies to the UAE and vice versa. Italso provides security with cross-border investment and trade and strengthens the UK and the UAE’s business relationship.

    The UAE is the ideal location to set up your business due to its:

    • World-class, unmatched infrastructure
    • Strategic location
    • Low tax base

    …… and many, many more appealing advantages.

    Exceed All Expectations and Click Here to Read Why You Should Set Up Your Company in the UAE

    Quite Simply…

    The UAE-UK Double Taxation Agreementregulates the prevention of double taxation on the incomes of companies or individuals in the United Arab Emirates who are doing business in the United Kingdom or vice versa.  So quite simply, it ensures that individuals are not paying taxes in both the UAE and the UK for the same income or on the investments they make.

    As with other UAE Double Taxation Agreements, the UAE-UK Taxation Treaty also contains a provision for the reduction or removal of taxes on interests and dividends.  Furthermore, the UAE-UK Taxation Treaty regulates how the taxation of capital gains occurs.

    It should be noted that, as with most double tax treaties, the UAE-UK Double Tax Treaty also contains provisions preventing tax evasion.

    We are UAE Company Set Up Specialists, Contact Us if you Have Decided You Want to Set Up a UAE Company

    Good News for Pensioners too

    Some of us believe that expats might be at risk if they leave their pensions in the UK.

    Some pension funds might find it difficult or impossible to pay out what they are committed to paying in the future and they might simply not be able to find the money and will have no choice but to offer a lower pension.

    This is scary but it has happened in some states in the USA.  As ever ageing populations successfully reach retirement age, these pension funds could be seriously underfunded.  There might simply not be enough for all of us.

    Under the UAE-UK Double Taxation Convention, if you are a UK expat over the age of 55 and if you have pension funds in the United Kingdom, you can now cash out the full pension, completely tax-free.

    Repeat…. if you are a UK citizen with a pension fund and you are over the age of 55, if you liquidate your pension fund, no UK tax will be withheld.  Be aware that there will be a record at Her Majesty’s Revenue and Customs just in case you decide to return to the UK for good within five years!

    If you are a UK expat with pensions in the UK, you might want to consider relocating to the UAE to enjoy a sunny, luxurious lifestyle.

    Let Us Show You the UAE’s Unique Lifestyle Advantages

  • Growth of UAE Business and Economy

    Growth of UAE Business and Economy due to Non-Oil Private Sector Business Activity

    March, 2017

    UAE’s non-oil private sector business activity continues to grow and has reached an 18-month high.  Inflows of new business have increased sharply and at the fastest rate for the last 18 months.

    In a nutshell, UAE’s non-oil private sector business activity has seen a:

    …Dramatic increase in demand for new business

    …Output boost

    …Increase in output prices since October 2015

    …Increase in number of new jobs

    According to statistics from a survey sponsored by Emirates NBD bank, last month the UAE’s non-oil private sector has seen the greatest growth since the 3rd quarter of 2015.

    Higher demand and a promising economic environment has lead to companies increasing their purchases.  According to the report there was a dramatic increase in new business inflow, underpinning a strong expansion of output.  Furthermore, this has resulted in companies already employing more staff.

    Contact Us NOW to set up your business in the UAE

    Also, according to the survey, there was an increase in selling prices for the first time in 18 months as companies increased their prices as a result of their increased costs.

    Oil prices have increased following a deal with oil producers to lessen the supply of oil (by almost 1.8 million barrels a day) which came into effect on 1st January 2017.

    The report stated that the next 12 months or so look positive and it is expected that this encouraging economic scenario will continue for the UAE non-oil private sector.

    One in five companies has forecasted increase in output for the next year, with robust marketing campaigns and new projects in the pipeline.

    Click Here to read more about the UAE business incentives

    Contact one of our officers to initiate the incorporation of your company and start reaping the full benefits of the UAE business climate. Simply fill in the contact box below or contact us by email on enquiries@fbsemirates.com or call on +971 7 20 20 999.

  • Record Numbers of DAFZA Company Registrations

    DAFZA Announces 16% Profit Growth for 2016 and Record Numbers for DAFZA Company Registrations

    March, 2017

    The Dubai Airport Freezone Authority (DAFZA) has announced a record number of DAFZA company registrations and a 16% net profit growth for the year 2016.

    This outstanding success is evidence that DAFZA is the prime destination for global businesses and global investors to register their companies and reap  DAFZA’s world-class benefits while enjoying the superb business opportunities that this free zone has to offer.

    International players have placed their confidence in DAFZA, which in turn has played a significant role in strengthening Dubai’s position as the number one global investment destination.

    DAFZA has helped Dubai’s outstanding growth in investments from all the main global markets and mainly USA, Europe, India, Japan and Singapore.

    We can Help You Reap the Benefits of a DAFZA Company – Click Here to Start your DAFZA Company Registration

    Some interesting facts about DAFZA….

    DAFZA achieved 109.82 billion AED non-oil foreign trade for 2015, which is 9% of Dubai’s total trade and 20% of Dubai’s trade for all the free zones for the same period.

    DAFZA now houses over 1,600 registered companies from over 20 business sectors.  Some of these companies belong to the biggest and most successful Fortune 500 companies like Red Bull, Johnson & Johnson, Airbus, Chanel, Estee Lauder, Toyota, Roche, Audi Volkswagen and Rolls Royce…. to name just a few.

    DAFZA has once again proved that it is one of the world’s most successful and popular free zones.

    Further Details on DAFZA Company Registration Fees and Procedures 

  • A Record Year for DIFC Free Zone Company Registrations

    2016 – A Record Year for DIFC Free Zone Company Registrations

    News and Update

    February, 2017

    The number of new company registrations at the Dubai International Financial Centre (DIFC) Free Zone reached a record high in 2016.

    This pleasing result is evidence that international investors, businesses and financial institutions have placed their confidence and trust in DIFC’s world-class, strong and secure business environment.

    The DIFC tops the list for scores of investors who have chosen to set up their companies there.  DIFC has now become the leading financial centre in the Middle East, Africa and South Asia (MEASA) region.

     Click Here to let our Experts Help you Start the DIFC Free Zone Company Registration Process

     Read More about DIFC Free Zone Company Registration Fees and Procedures 

    Some facts about DIFC’s performance….. According to DIFC’s statistics, the DIFC housed 1,648 active registered companies in 2016 compared with 1,445 active registered companies the previous year, meaning an increase of 14% for new company registrations.

    This includes 447 financial services companies, meaning an increase of 10% from the 408 financial services companies the previous year.

    Also the DIFC housed 976 non-financial services companies in 2016, which is an increase of 17% from last year’s 835 non-financial companies.

    The DIFC now employs a workforce of 21,611 professionals, an increase of 9% from 2015.

    DIFC has surpassed all its targets for the year 2016 and has achieved substantial growth in all areas.

  • DIFC Wills and Probate Registry extended to RAK

    Investors and Residents of RAK will Benefit from New Legal Measures for Enforcing Wills

    New agreements that have been signed by Ras Al Khaimah and the Dubai DIFC Dispute Resolution Authority (DRA), allow investors and residents of RAK, for the first time, to implement their personal wills as per their requirements and wishes, thus protecting their assets and families.

    The DIFC Wills and Probate Registry is an initiative of the government of Dubai, which has now been extended to the emirate of RAK.

    The agreements were signed by the Government of RAK’s Municipality Department, the Department of Economic Development and the Ras Al Khaimah Investment Authority. They will allow executors to distribute assets to beneficiaries, subject to enforcement orders issued by the Courts of RAK.

    This allows for the enforcement of DIFC Courts probate orders covering the wills of non-Muslim investors and residents who have assets in Ras Al Khaimah.

    Wills must have been registered at the DIFC Wills and Probate Registry and, moreover, validation must have been granted by the DIFC Courts.

    The Wills and Probate Registry allows non-Muslims to decide what happens to their assets in a confidential, secure and straightforward procedure, thus enabling non-Muslim people to plan for the future.

    Contact one of our officers to get more information about DIFC Wills implementations for investors and residents of RAK. Simply fill in the contact box below or contact us by email on enquiries@fbsemirates.com or call on +971 7 20 20 999.

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