[RoxiRocks]

When setting up a professional trading company, according to Dubai DED, a local agent is a must.
I am not clear if the agent has to be an emirati/gcc person. What role does the agent play in setting up the company?
Has anyone setup a professional licensed company who is willing to share their experience?

 

[Confiture]

Most companies have a P.R.O. (Public Relations Officer) who will handle all the bureaucracy and legal requirements of setting up a company, and the day to day visa / employment needs.

Not always a local, but certainly an Arabic speaker who is well connected.

They are worth their weight in gold.

 

[Dastardly]

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.

 

[RoxiRocks]

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.

This does not apply to Professional License where ownership is 100% expat with nominated person acting as local agent.

 

[Dastardly]

This does not apply to Professional License where ownership is 100% expat with nominated person acting as local agent.

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 ?

 

[RoxiRocks]

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 ?

Annual licence renewal is a form of indirect taxation but apart from that there is none.