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Danburite - Your Trusted Partner
Considering starting a business in the UAE? Choose Ajman Free Zone. Danburite Corporate specializes in comprehensive business consultancy to assist you in navigating the setup process in this dynamic free zone.
What is Ajman Offshore?
Ajman Offshore provides offshore company formation services in the emirate of Ajman, one of the thriving business destinations in the United Arab Emirates (UAE). Ajman Offshore offers a wide range of advantages and benefits, making it an excellent choice for entrepreneurs and businesses aiming to maximize their global potential.
Key features of a sole proprietorship in the UAE
Single Owner
The business is owned and operated by one individual only.
No Shareholders
There are no other shareholders or partners involved in the business.
100% Ownership
The sole proprietor has full ownership and control of the business.
Complete Control
The sole proprietor has sole control over all business operations.
100% Profit Retention
All profits generated by the business belong to the sole owner.
Personal Liability
The sole proprietor is personally liable for all business debts and financial obligations.
Low Start-up Cost
Establishing a sole proprietorship generally involves lower initial costs compared to other business structures.
Quick Business Registration
The process of registering a sole proprietorship is typically straightforward and can be done quickly.
No Business Capital Requirement
There is no specific minimum capital requirement for starting a sole proprietorship.
Who can form a sole proprietorship in the UAE?
In the UAE, sole proprietorships can be formed by UAE nationals, Gulf Cooperation Council (GCC) nationals, and foreign nationals, but the conditions and requirements vary based on the individual's nationality.
For UAE nationals and GCC nationals
They can form any type of sole establishment, including industrial, commercial, tourism, or professional activities. They can also establish consultancies across a range of activities under their professional license.
For foreign nationals
They can only apply for a professional license for their sole proprietorship. All professional activities are eligible for a sole establishment, and they can engage in consultancy activities.
However, certain consultancy activities can only be practiced by UAE nationals. As a foreign national, it is mandatory to have a Local Service Agent (LSA) to register the sole establishment in the UAE.
It's important for foreign nationals to be aware of the limitations and requirements associated with setting up a sole proprietorship in the UAE as compared to UAE and GCC nationals. Having a Local Service Agent helps foreign nationals meet the local requirements for establishing and operating their sole establishments in the country.
Requirements
Before initiating the registration process for a sole proprietorship in the UAE, ensure that you meet the following requirements, as per the UAE law for sole establishments. These documents and information will be necessary during the trade license application process.
- A copy of your passport
- A copy of your UAE residence visa or visit visa
- Trade name options for your establishment
- The intended business activity of your sole establishment
- The type of office you will need
- A copy of your local service agent's Emirates ID
Why Us?
With Danburite's expert guidance, you can confidently establish your Sole Establishment in the UAE. Embrace entrepreneurship with independence and accountability, as you take charge of your business journey. Start now and make your entrepreneurial dreams a reality.
Frequently asked questions
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What is a Sole Establishment in the UAE?
A Sole Establishment, also known as a sole proprietorship, is a business structure where the trade license is issued in the name of one individual. The sole owner has full ownership and control of the business but is personally liable for all business activities and debts.
Who can establish a Sole Establishment in the UAE?
Sole Establishments can be formed by UAE nationals, GCC nationals, and foreign nationals. However, the conditions and allowed activities differ based on the individual's nationality. UAE and GCC nationals have broader activity options compared to foreign nationals.
What are the key features of a Sole Establishment?
Key features include single ownership, 100% ownership and control, full profit retention, personal liability for debts, low startup costs, quick registration process, and no minimum capital requirement.
What are the requirements for setting up a Sole Establishment?
You'll need copies of your passport and UAE residence visa, trade name options, details of your intended business activity, office type, and a copy of your local service agent's Emirates ID if you're a foreign national.
Why choose Danburite for establishing a Sole Establishment?
Danburite Corporate excels in guiding entrepreneurs through establishing a Sole Establishment in the UAE. With our expert guidance, you can confidently navigate the process and turn your entrepreneurial aspirations into reality.
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Danburite Corp specializes in all aspects of company formation, management and liquidation.
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