This does not apply to Professional License where ownership is 100% expat with nominated person acting as local agent.Unless the company has been already established in another country & you wanted to open a branch in Dubai, a local partner is needed with a shareholding of not less than 51% of the paid-up capital, GCC citizens can start their own companies alone or with other GCC partners, however not with a non-GCC partner in which that company would still require a local participant.
Agreed, thought when you said "professional trading company" you were refering to a larger firm. By the way, whats the taxation procedure for such a company in dubai ?This does not apply to Professional License where ownership is 100% expat with nominated person acting as local agent.
Annual licence renewal is a form of indirect taxation but apart from that there is none.Agreed, thought when you said "professional trading company" you were refering to a larger firm. By the way, whats the taxation procedure for such a company in dubai ?
