An Overview to Setup Branch Company Formation in UAE Free Zones Presented by: Rehan Abid.
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Transcript of An Overview to Setup Branch Company Formation in UAE Free Zones Presented by: Rehan Abid.
An Overview to Setup Branch Company Formation in
UAE Free Zones
Presented by: Rehan Abid
About Me
REHAN ABID (SME Consultant)Associate Engineering, B.Sc. Textiles
Team Member Since September 25, 2011
Agenda
• Defining Branch Company• Types of Branch Companies• Branch & Rep Offices• Document Requirements & Attestations• Branch from UAE• Cost of Setup• Why ADAM Consulting• Q & A
Branch Company
A Branch is a representative office of a legal entity that already exists outside of the Free Zone. A Branch does not have a separate legal personality, and it derives its power and authority from the parent entity. A Branch must have a General Manager who is responsible for the day-to-day operation of the Branch, but it will not have a board of directors or company secretary. A Branch must retain the same name as the parent entity
Types of Branch Company
• Foreign Branch (BFC) - A foreign affiliate that is legally a part of a firm residing outside of the UAE
• Local Branch (BLC) - A domestic affiliate that is legally a part of a firm residing in the UAE
Branch & Rep Office
• A branch office is permitted to promote and market the products of its parent entity & It can enter into transactions and offer services to customers.
• Representative offices are only allowed to promote/market the business activity of parent company but cannot enter into a transaction in the name of its company
Document Requirement
• Branch from Abroad Business Plan / ProfileCertificate of Registration Memorandum & Articles of Association Board ResolutionSpecimen Signatures of the ManagerManager Passport CopyAudit Report of Parent Company
Attestations
I. Legal Translation (if the originals are in other then English language)
II. Notarization
III. Attestation from UAE Embassy (In Home country)
IV. Attestation from MOFA (In UAE)
Branch from UAE
• License Copy• Memorandum of Association Copy• Share Certificate Copy• Chamber of Commerce copy• Board Resolution Original• Passport copy of Manager• Letter stating Branch opening in FZ• Specimen signature of the Manager
Elements
Trade name Reservation
Provisional Approval
Memorandum and Articles of Association
License
Cost to Set up
Share Capital: For Branch companies there no share capital requirement in Free Zones
Jurisdiction Cost to Incorporate (AED) ADAM FEE
JAFZA
Registration Fee 5000.00
License Fee 8000.00 10,000.00
Why ADAM Consulting?
• Hassle-free incorporation• Competitive Rates• ISO Certified• Experienced Team• Global Presence• Online Access
Questions & Answers
THANK YOU•
For feedback
please
dro
p me E-
mail at:
•re
han@adamadvisors
.com