Good Morning Discussion on Branch Companies Brach Office: Definition: A smaller, remotely located...
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Transcript of Good Morning Discussion on Branch Companies Brach Office: Definition: A smaller, remotely located...
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Good Morning
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Discussion on Branch Companies
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Brach Office:
Definition: A smaller, remotely located office that is separate from a company's corporate head quarters, Which can carry out Similar Business Activities.
-entrepreneur
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Branch Companies in Dubai
1. Branch of a Foreign Company2. Branch of a Local Company
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Branch of a Foreign CompanyA Dubai branch company is a popular way for international companies to access the booming local Dubai economy.Advantages:-100% OwnershipSimilar Business Activity Similar Trade NameFacilitates the Financial Transaction EasilyBetter control on Expenses
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Branch of a Foreign Company
Disadvantages
Increased expenses for the Incorporation(Documentation / translation/ Attestation etc)Requirement of a Local Service AgentRegistration with Ministry of EconomyInitial Deposit ( Bank Guarantee) & Annual fees to the Ministry Incorporation is Challenging
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Documents- Parent Company1. Passport Copy of the Director2. Certificate of Incorporation3. Copy of License4. Auditors Report5. MOA6. POA for Director7. Board Resolution8. Proof Of Projects CompletedNOTE: All documents of the Parent Company must
be attested by UAE Embassy in the Country of Origin.
Branch Companies in
Dubai
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Local Service Agent
• Documents required from the LSA
• Passport Copy• Jincia• Emirates ID• E Signature Card Copy• Photo
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Branch Companies in
DubaiPhase -1
• Legal Translation• Attestation from Ministry of Justice
• Attestation from Ministry of Foreign Affairs
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Phase -2
•Trade Name Reservation ( DED) – Online•Ministry of Economy Application•Ministry Approval – AED 5000•Initial Approval ( Activity ) DED
Branch Companies in
Dubai
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Branch Companies in
DubaiPhase -3
•Local Service Agent Agreement•Tenancy Contract
Documents Required•Initial Approvals ( DED & MoE)•All Translated Documents attested by Ministry of Justice & Foreign Affairs•Court Fees
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Phase – 4Tenancy Contract Approval from Land Dept & MunicipalitySubmit all the Documents to DED for getting the License.Collect the Payment Voucher from DEDMake Payment and obtain the License.Update Telephone & PO Box No.Register with Chamber of Commerce Prepare the immigration & Labor Card.
Branch Companies in Dubai
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Phase -5Submit the Bank Guarantee undertaking for AED 50,000 to Ministry of EconomyPay the Registration Fees of AED 10,000 to Ministry of Economy & Obtain the Registration Certificate.( Fees to be paid through E Dhs Card only)
Branch Companies in
Dubai
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Cost Break -Up
• Initial Approval & Trade name- AED 320• Fees to DED – 15000 – 18000 ( Approx) • Market Fees – 5% of the Office Rent• Court Fees – AED 1000 ( Approx)• Attestation Charges ( MOFA) – AED 2050 per document• Attestation Charges ( MOJ) – AED 50 per Doc• Legal Translation Charges – AED 100 per page• Ministry of Economy – AED 15000• Bank Guarantee Deposit – AED 50000• Post Box – AED 570• Company Stamp – AED 100• License Amendment DED – AED 560• Immigration & Labor Card – AED 3500
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Sumesh Paul Meledath