Set-up of IT business in Dubai freezone
From choosing a freezone to obtaining a certificate of incorporation: Revera has accompanied the full cycle of company registration in the UAE.
The client, an IT start-up, asked for assistance in registering a company in the UAE. This jurisdiction was chosen for several reasons: friendly attitude to founders from any region, favourable tax regime, and the Emirates' attractiveness as a growing financial center for investors.
The REVERA team analyzed the client's business needs and, based on the findings, proposed the incorporation of an office in Dubai's DIFC freezone.
The decision was influenced by a variety of factors: the number and type of founders (individual/legal entity), the time spendings and the amount of the registration fee, the company's areas of business and geography of activities, as well as requirements for the scope of registered capital and the provision of audited accounts.
An important reason for choosing the DIFC freezone was the fact that English law applies in its territory, whereas most freezones in the UAE have local legislation.
After choosing a suitable freezone, Revera's lawyers started the company registration procedure, which was carried out remotely.
Firstly, the Initial Approval process was successfully completed and a Certificate of Status was obtained from the freezone administration. This was followed by the registration of the legal entity in DIFC, which ended with the receipt of statutory documents, including the operating license, statutes and certificate of registration.