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How Accounting and Consulting Firm in UAE Help With Free Zone Company Setup

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The advantages of a Free Zone company setup are the relatable ease in the establishing a company there as well as the minimal paperwork and the short approval duration gap. 

Accounting and Consulting firm in UAE help with free zone company setup

The basic steps and pointers to keep in mind before setting up a business are to make sure that you determine the type of legal entity your business would be affiliated with; to choose an appropriate trade name; choose an office space that is conveniently placed; and get pre-approvals to get a license and register your company. Partnering with an accounting and consulting Firm in UAE can help simplify and accelerate these processes for a new business entity.

What Constitutes a Free Zone Company Setup?

Free Zones regions were introduced to create a boosted economic environment. These trading zones usually offer many benefits regarding company ownership, no customs or tax, and other features to promote trade. The main attractions of establishing an entity in one of the UAE’s Free Zones is that there are no foreign ownership restrictions and companies are governed for by an independent Free Zone Authority (FZA), which is responsible for issuing operating licences and regulating the activities of companies within the Free Zone.

The benefits of a Free Zone company setup include 100% foreign ownership and no requirement for a local sponsor, 100% repatriation of capital and profits, full corporate and personal income tax exemption, absence of currency restrictions, abundant and inexpensive energy, logistic efficiencies due to business cluster effect, and serviced desks and offices for SMEs and start-ups.

How Accounting and Consulting Firm in UAE Can Assist

Accounting and Consulting Firms in UAE have grown a lot in the past few years owing to the rapid development of the nation and benefit from the wide range of experience they have garnered. Usually the experienced and trained business advisors and consultants can assist a new company establish itself by guiding them through business advisory, basic consultation, documentation. The services of the consulting firm can be end to end as they prepare the documents, and assist with its filing with the concerned authorities. Moreover, they also provide customer support throughout the process.

A company itself may be viewed as a commodity but the necessary advice, i.e. how to use it and how to ensure that it is managed and structured correctly is not. It may be relatively straightforward to set up or purchase a company but to gain and sustain competitive advantage and successfully manage growth, proper groundwork and execution are essential.

It is essential to receive advice on the type of company best suited to your commercial purpose, arranging the ownership of that company, administering the company correctly, and managing its commercial arrangements.

Therefore having an accounting and consulting firm in UAE that gives the business all the prerequisite information and can guide it so that the administrative step are the right ones, is absolutely essential. The firm needs to be proficient in company law, board procedures, director responsibilities and shareholder relations, as well as financial and legal compliance requirements. This will enable a company’s owners to focus on their primary business.

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