Business Formation in International Humanitarian City (IHC)
International Humanitarian City (IHC) was established in 2003. Since then, it became the world’s largest and busiest place for humanitarian aid. There are currently nine UN agencies, 50 nonprofit organizations (NGO), and commercial entities that are members. IHC is for aiding the people suffering from poverty. It is designed to reach out to the victims of crises.
Being a Dubai free zone authority, it can issue a license to the following: branches of international nonprofit organizations and commercial companies, subsidiaries of commercial companies, and new commercial companies.
Business setup in Dubai International Humanitarian City, like any other business setup in Dubai free zones, has its own orderly procedures to ensure a proper way of execution. Business owners are expected to adhere to this process as it is one way of being sure that your business setup company in Dubai will be finished in the right timeframe so you can start on when you have planned.
It might be simply for others, but business setup in Dubai should not be taken lightly. For this reason, certain people are there to help you on this kind of matter. They are the business setup consultants in Dubai who are willing to lend their hands to help. They are the same people who have made freezone company formation successful everytime. With the business consultants in Dubai on your side, you can obtain the information that you need to know to weigh things regarding how to open a company in Dubai free zone. You can be financially prepared with the amount that you will have to incur for the first step of starting a business when you have the estimations of the Dubai freezone company setup cost and Dubai free zone license cost. This information can help you calculate how much you would need. To add to those estimations, having an idea about Dubai free zone company registration fees aids you even more in having a close approximation of the amount that you would need to prepare. This can be filed in your accounts as you use this as your guide on the cost that is projected to be made in the first half or the first year of your operation.
Although the company formation consultants in Dubai are available to provide you the answers to your questions about Dubai free zone company formation cost or the documents required for trade license renewal in Dubai as a future reference, this does not comprise their entire purpose. To be able to help you lighten your load, or have none at all, when it comes to handling your business setup in Dubai free zones. Therefore, one must choose their team meticulously to ensure that there is quality in the service. With this, your Dubai International Humanitarian City Free Zone company setup can be done in no time at all.
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Following industries you can setup in IHC
We covers all the following industries, even if your industry not in list you can consult with us we can help you setup.
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Benefits of Business Setup in International Humanitarian City (IHC)
The UAE is conducive to investment and business expansion. This is why business setup in Dubai free zones is notable in the country. There are a lot of locations that investors can choose from where their organization can flourish. With this, business owners who are interested in humanitarian aid, IHC is the right place to setup a non-profit organization or humanitarian-related commercial companies.
The solutions, amenities, and facilities that IHC has can definitely help these organizations to function at its best. The Dubai free zone benefits also add to the conduciveness that this zone has.
- 100% repatriation of capital and profits
- 100% free transfer of funds
- 100% exemption from import and export duties
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Business Setup Requirements & Procedure
Documents Required for Dubai International Humanitarian City Company Registration
- Passport copies of the shareholders
- Passport copies and CV (resume) of the manager
- Personal information sheet of each shareholder and manager (template will be forwarded by Farhat Office & Co.)
- Proof of trade name reservation (part of the process—task of Farhat Office & Co.)
- Proof of initial approval for the activities (part of the process— task of Farhat Office & Co.
- Notarized Memorandum of Association (MOA), Article of Association (AOA) (Farhat Office & Co. will draft it for you and will assist you in order to get them notarized by a local notary public); in case the shareholders cannot appear in front of the local notary, they can appoint us (Farhat Office & Co.) as a legal representative so that we will be able to act on their behalf
- Notarized and attested Power of Attorney appointing Farhat Office & Co. as your legal representative so that they can act on your behalf/on behalf of the shareholders (template will be forwarded by Farhat Office & Co).
- Lease agreement (a document) showing a physical address for your new business—Having a physical address is mandatory for onshore business in the UAE. The minimum space required is 550 sq. ft. (around 60 sq. m). Your registration agent Farhat Office & Co. can assist you while searching for your physical address. Clients should not enter into any lease contract before we get the initially required approvals.
- Capital—we suggest a minimum authorized capital of AED 150,000 (USD 41,000 approximately). The capital structure is as follows: 51% to be registered for the name of the local citizen “partner” and 49% to be registered with the foreign partners. This formula can be changed by the Ministry of Economy upon the request of the investors, and the Ministry will look into the matter. The Ministry will assess and evaluate, and they will agree in case the business/the project will add material value to the state/country’s economy. Depositing/paying the authorized capital is not mandatory in most cases.
Additional Requirement Applicable to Corporate Shareholders (Legal Person)
- Board resolution to be resolute by the board of directors of your existing company/entity at the place of origin, expressing their intent for establishing a new setup abroad—it must be attested by the UAE Embassy (template will be forwarded by Farhat Office & Co.).
- Certificate of registration or business license or certificate of incorporation of your existing company/entity at the place of origin—it must be attested by the UAE Embassy.
- Memorandum of Association (MOA) of your existing company/entity at the place of origin—it must be attested by the UAE Embassy.
- Article of Association (AOA) (if any) of your existing company/entity at the place of origin—it must be attested and notarized by the UAE Embassy.
Note:
- There are cases that a concerned party may require documents and other requirements
- In some business activities, such as health care, law firm, education training, transportation, construction and contracting, engineering consulting, etc., no objection and permission will be required as mandatory requirements. If your business requires such pre-approvals and/or permissions, there will be an additional cost and additional professional fee for Farhat Office & Co.
The procedure of processing your business setup in International Humanitarian City will range from 2 to 4 weeks.
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Support Services Offered in International Humanitarian City (IHC)
FAR Consulting Middle East is one of the leading consulting companies in Dubai that deal with corporate business services Dubai. We assist people who have questions on how to open a business in Dubai.
We can provide the following services when you let us handle your affairs when it comes to company setup in Dubai:
- Applying and following up on behalf of the client until the collection of the Certificate of Business Registration (Trade License)
- Representing the client in front of the authorities
- Assisting the client in bank account opening
- Assisting the client in account opening with the Ministry of Labour
- Assisting the client in account opening with the UAE immigration
- Assisting the client in leasing a premise as an address for the business
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Business Setup Cost in International Humanitarian City (IHC)
Farahat & Co has a trained consulting team that deals with company formation in International Humanitarian City in UAE. The below fee table explains an estimation of the cost to setup your company in international humanitarian city. Contact us for a detailed guide on setting up a business in Dubai.
Cost for Business setup in International Humanitarian City (IHC)
Business Registration and Licensing Cost Fees Knowledge Fee & Innovation Fee AED 20.00 Registration Fee AED 1,000.00 Specimen Signature (Starting from) AED 85.00 Cost by Trade Licence Type (Select one of the following) Commercial License Fee AED 17,000.00 Humanitarian Organization License Fee AED 10,000.00 Setting up a branch office (Starting from) AED 10,000.00 Setting up a Branch of a Foreign Company (Starting from) AED 10,000.00 Additional Fees for Business Registration Certificate of Good Standing AED 500.00 Letter of Incumbency AED 500.00 Certificate of Good Standing AED 500.00 Chamber of Commerce Fees AED 2,200.00 Establishment Online Application (Starting from) AED 550.00 Fee for Any Additional Activity (if applicable) AED 10,000.00 Visa Processing Cost Emirates ID (EID) Application (Starting from) AED 390.00 Medical Test (Starting from) AED 500.00 Employment/Residence Visa (Select one of the following) Employment / Residence Visa – In Country AED 4,550.00 Employment / Residence Visa – Out of the Country AED 3,050.00 ATTENTION – NOTEAll fees for government and related authorities are an estimation only, as of on 19th September, 2019. The exact government fees will be determined at the time of submission of the applications. We are obligated to provide our clients with all receipts of government and related agencies against the amount that will be paid. Every amount that will expense for your business registration will be supported by documents. In case of shortage, the client has to repay us. In case of excess, we have to refund the client.
Our professional fee covers consultation, drafting of legal documents, introducing reliable local citizen service-agent when required, assisting in document notarization from the local notary public, assisting in local bank account opening, and applying to the concerned authorities on your behalf.