Branch/Representative Office Of Foreign Companies
Dubai – the name spells riches. This global city built on the foundation of oil revenues has long transformed in to a commercial hub and a tourist destination and currently offers one of the best lifestyles on this planet. The emirate has rightly earned its place amongst the list of most glamorous hot spots in the world; a place where the elite congregate for business and leisure and multiple worlds collide in the process. And this means that a lot of business opportunities find their way to its shores. Opportunities that are waiting to be exploited by competent companies possessing the will to make the most of a very trendy, upmarket and lively economy. And the UAE laws welcome such advances, if the firm in question can muster the formalities. This is precisely where HLB Hamt steps in, ensuring that your firm gets to do business, hassle-free.
UAE Commercial Company Law (13) of 1988 permits foreign organizations to establish Branch and Representative Offices that may exercise the core business activities of their parent organizations (of foreign origin). The branch offices may not just offer services to their prospective clients; they are also free to undertake business transactions within the UAE. For some particular cases, though, additional licensing may be required from the Ministry of Economy, a matter that HLB Hamt can gladly assist your firm with. Representative offices, on the other hand, face some restrictions. They may only carry out promotional activities that supplement the main business nature of the root firm without directly offering any services. They must also refrain from entering into business transactions or marketing products. Despite the restraints, they nevertheless help greatly in furthering a firm’s business interests by reaching out to the demographic.
For all these incorporations, your firm needs a local service agent. His only duties towards the branch/representative office shall be as directed by the principal, i.e. getting approvals and permits from government authorities. You need not worry about any interference though, for the law mandates that he should not delve into matters of the branch or representative office’s functioning. He shall also not be responsible to carry out any financial activities and commitments as a result of any of the firm’s operations and you only need to remunerate him on a lump sum basis as per a mutual agreement entered into prior to incorporation of the company. Thus the appointment of such a person becomes an essential task. And HLB Hamt is here to deal with it for you. Our years of presence in this area give us a formidable insight into such works and we search for just the most appropriate local service agent for our clients. Not just that, we also draft a local service agreement for them, thus vastly simplifying the client’s work.
At HLB Hamt, we believe that your business deserves better than to invest its precious time in bureaucracy. And to that effect we provide comprehensive service to our client that includes, apart from appointing local service agent, getting approvals and clearances from all necessary government agencies, assistance in opening bank accounts, completing all other documentation formalities and last but not the least, finding that perfect location for your office so that it generates maximum business for you. We shall supervise the entire process of establishing the firm and provide specific strategic inputs as well as suggest changes in your business plan to achieve your goals.
So come to Dubai, the modern day miracle land, to propel you business into the new era. And trust HLB Hamt to provide you a sound base to do so.