Hello, everyone, nice to see you again!
Today we will cover the topic of documents a company receives upon registration completion. Indeed, what should the set of corporate documents include that we could say that it is complete? How can you personally check if the corporate set of documents given by the Registrar is complete and comply with UAE law? Is there any difference between the set of documents given by an offshore, freezone or mainland company?
To begin with, we need to mention that the number of emirates, free zones and authorities is quite numerous in the UAE, therefore the document list of one authority may be absolutely different from the document list of another authority situated in one and the same emirate, sometimes even neighboring.
Be prepared that the documents can be given in either soft or hard copies. It is a common practice in the UAE. Yes, sometimes people are surprised that the corporate documents are given in soft copies, as they got used to old-school thick folder with paper laminated documents, signed with blue ink pen and original stamp.
UAE is one of the leading countries to implement digital paperless economy and every year it is becoming more and more common to have official documents in electronic form. Even electronic signatures are becoming more and more often and recognizable in the UAE and it’s good as firstly, you save trees, secondly UAE is one of the top digital economies in the world that implements and test the most bold modern technologies. But how to be on a safe side and ensure the documents are real?
Nothing to worry about, the question of trust is well-thought. If we take one of the world’s best freezone in the world that is called Dubai Multi Commodities Centre or DMCC for short and is located in Dubai’s are of JLT (Jumeirah Lakes Towers) we will see the reality where it is a common practice to issue corporate documents in soft copies. To make proof that the documents are genuine, DMCC authorities mention a special link with document number at the very bottom of each document and anyone may check the document online, by following the link and typing the relevant document number on the check page where you understand whether it is true and genuine or fake as you see the document itself on your display. Nevertheless, many authorities still issue hard copies of documents. But what are these documents that you get upon the completion of registration process?
First of all, one of the most important corporate documents is a License. In some emirates and freezone, it might be called totally different, like Certificate of Registration, Certificate of Formation, Incorporation certificate. There is no unified name for it but the underlying concept is the same, it is the document that allows you to legally practice business in the UAE. It is interesting fact that in some cases the license that you get main consists of 2 parts (like in Umm al Quwain free trade zone, for example). The first page of the license describes the company name, owner and manager details, activity, official address, etc. while the second page serves as a reference for the number of shares in the company.
Most free zones separate information about share into a separate document called Share Certificate, that depicts the names, shares and ownership percentage.
As UAE is a dynamic and modern economy, it may happen so that the rules or names might change, but you should get used to it. Our modern world is like that – everything changes so fast! You have a new feature today, and tomorrow you already have an update for it.
Generally speaking, the most common documents you receive upon finalizing the process of company formation in the UAE depends on your type of company and emirate, but:
- If you have an offshore company, you usually get corporate certificate of registration and memorandum of association and articles only.
- If you have a freezone company, you get license, Memorandum of Association (MoA) and Articles of Association (AoA), Share certificate, Lease agreement (even if you have flexi desk) and Establishment card (ususally in soft copy).
- If you have a mainland company you get Certificate of Incorporation, Memorandum of Association (MoA) and Articles of Association (AoA), Share certificate, Company Labor card and Establishment card.
It may happen so, that you need to provide a specific document to your home country or some 3rd party. But the name of the document they require may not exist in the UAE. For example, imagine you have a free zone company in the UAE, and one of your partners from Europe asked you to provide a document to your called “Company Registration Bill”. You go to a Registrar and he say that UAE does not issue such types of documents with such wording. So what should you do? Should you refuse your partner from Europe and not doing business with him? The answer is simple, you need to inform that we don’t have such type of documents with the exactly same wording here in UAE, but we can provide the document that is similar to the one required. The best solution is to ask what information they would need to see on the document and request such document from your free zone Registrar. Such document may be called differently but will contain the information required to start doing business with the partner from Europe. You may also suggest attestation of such document in the Ministry of Foreign affairs and further attention in the embassy of the destination European country, so that he is sure that the provided document is official and legitimate.
Some documents are not given within the set of corporate documents upon registration completion but can be requested as additional documents upon request from the Registrar. They can be easily requested by applying for such kind of documents and making a relevant payment for it. The most common additional documents for established companies are Certificate of Good standing and Certificate of Incumbency.
If you want to know more about Dubai freezone company formation, feel free to get in touch with our professional consultant team and we would be delighted to assist you and help you to compare Dubai freezone company setup costs and help you to find that free zone, which would suit your business needs the most.
Disclaimer: Business Boutique UAE-Consultants.com is not affiliated with any particular government or legal entity. Business Boutique does not give professional legal advice nor any other professional advice subject to a public office in the government. This article merely sets out a simple and basic idea as to the reasons of Dubai freezone company setup and Dubai free zone company formation cost. Business Boutique in no way holds nor imposes any official governmental or legal authority and the article herein is only to be taken as a guide. All further governmental or legal issues should be addressed to the corresponding authorities.
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