Setting up a company from the ground up involves registration, licensing, deciding on a legal entity, and many other factors. To avoid such hassles, there is an option of buying a shelf company in Dubai, also known as a ready-made company. As the company is already registered with the government of UAE, the buyer can get full ownership of an existing firm.
Objectives and Benefits of Shelf Company in Dubai, UAE
Before digging into how to buy a shelf company in Dubai, UAE, let’s learn about its objectives and benefits:
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How to Buy a Ready-Made Company in Dubai?
Now that you know the objectives and benefits of buying a shelf company in Dubai, let us look at the steps involved when it comes to buying one.
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Decide on the Jurisdiction
The first step before deciding to buy a shelf company is looking under which jurisdiction the company falls, whether mainland or free zone. This will depend on factors like the market you aim to serve and where you want to carry out operations.
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Make Relevant and Necessary Changes
Before you begin full trading once the company is purchased, you must amend the Memorandum and Articles of Association to reflect the names of new shareholders and directors of the enterprise. You will also have to change the trade name and apply for the relevant business activity licences to enable smooth business operation and complete certain steps to finalise the company registration process.
Why Choose Commitbiz?
Choosing a business consultancy will ensure that setting up your business in Dubai is seamless. Buying a ready-made company in Dubai might seem easy, but the internal legalities are confusing. So, it’s best to take the help of an expert like Commitbiz. Here are a few reasons to choose us:
- No risk of liability
- Professional guidance
- No obligations
- Easy and hassle-free registration process.
- Profound experience in company formation in all jurisdictions.
What is a shelf company?
A shelf business is a ready-made company that has previously undergone the required incorporation procedure in the jurisdiction but is not active until it is purchased—hence the term "available for purchase."
What is the prime advantage of purchasing a vintage company?
The most significant advantage of buying a shelf business is that you can start operations sooner because you transfer personal information from the corporation that founded the new shelf company to your name. It speeds up the company formation procedure compared to starting from scratch.
Which jurisdictions should you consider if you intend to buy a shelf company in Dubai?
You can purchase a shelf company on the mainland or in free zones.
Which is the most common type of Dubai corporate structure?
It is a Limited Liability Company in Dubai.
What are the other necessary changes besides amending the MOA & AOA while buying a Dubai vintage company?
You can modify the trade name, apply for relevant business licenses, etc.