ABAX - Adding value to global business

ABAX - Adding value to global business

ABAX UAE


ABAX started its operations in the United Arab Emirates (“UAE”) in 2010, with an office in the Emirate of Ras Al Khaimah and one existing ABAX employee being relocated there. The main objectives were to develop the business in the region and provide support to existing clients wanting to expand their business in this part of the world. From a small presence, we have now developed into a full-fledged office in the Emirate of Dubai, with a workforce of 16 permanent staff and offering a diverse range of services.

ABAX operates in the UAE as a free zone company duly licensed by the Dubai Multi Commodities Centre (“DMCC”) and located in a prime business location, the Jumeirah Lake Towers, close to the DMCC Authority. Our aim is to be the ‘corporate butler’ of our clients by providing a one-stop shop to those wishing to establish and expand their business in the UAE.

Our services range from corporate structuring advice to company formation and secretarial services. We have also developed specialist expertise for a host of support services, including visa services and administration services in connection with running a UAE-based business. We pride ourselves on offering customised solutions that match each client’s specific needs.

 

About the United Arab Emirates

The UAE offers a compelling number of benefits for cross-border investment and trade, including:

  • Relatively fast and easy company set up:  UAE has about 40 free zones; each allowing fast company set up with 100% foreign ownership and governed by special tax, customs and import laws;
  • Ease of doing business: According to the Ease of Doing Business Report 2017, the UAE is ranked 26th in the world for ease of doing business. The UAE offers a well regulated and secure environment, with a wide range of authorized commercial activities. UAE is a “’white listed” jurisdiction with OECD and FATF;
  • Zero Tax Jurisdiction: Except for the foreign banks and oil companies trading in UAE, there is no tax for the companies based in UAE, nor on personal income;
  • Connectivity: UAE, as a regional trading hub, with excellent connectivity with the world (with direct flights to more than 90 countries) provides a perfect base for relocating staff with important travelling obligations and networking requirements. Most countries have got Embassies or Consulates in UAE, which facilitates the visa application process for UAE-based employees;
  • Access to the English jurisprudence: UAE companies can elect for their contracts to be regulated under the jurisdiction of the courts of DIFC (Dubai International Financial Centre) and of ADGM (Abu Dhabi Global Market), both being based on the British Common Law;
  • Currency: The UAE Dirham is currently pegged to the US Dollar, eliminating any currency exchange risk. There is also no thin capitalization rule and no control on foreign exchange. A company based in UAE can have bank accounts in different major currencies which can be used for treasury management;
  • Logistics: According to the Logistics Performance Index 2016 (World Bank), UAE is classified 13th out of 160 countries in terms of trade logistics, offering world-class connectivity with excellent port and airport logistics;
  • Tax Residence Certificate: Resident companies in UAE can request for a Tax Residence Certificate (subject to some conditions) in order to benefit from the 94 tax treaties executed by UAE with other countries;
  • Expansion: Companies based in UAE can be used as a holding structure for all businesses and investments set up in UAE and around the world;
  • Human Capital:  UAE offers a large pool of professionals and acts as a pole for attracting talents with its offerings of high living standards and quality of life; and
  • Political stability and rule of law: UAE took the first place in the Middle East and North Africa region for the World Justice Project’s Rule of Law Index. The country also enjoys political stability.

 

Description of services

Corporate Services Provider

  • Provision of Company Formation Services
  • Provision of Company Secretarial Services
  • Provision of Resident Director
  • Ensuring Corporate Statutory Filings
  • Assistance for attestation of documents in UAE
  • Assistance for bank account opening in UAE
  • Provision of other Administrative Services
  • Provision of Resident Manager: In UAE, the manager’s name appears on the license and he/she personally represents the company. Authorities and businesses in UAE will seek only the signature/presence of the manager for day to day business operations/filings.  The resident manager already provides an anchor for substance in UAE. Substance can be further consolidated by holding quarterly physical board meetings with UAE resident director(s) and proper physical office space.

 

Tax Consultant

  • Advising on the implementation of tax treaties
  • Advising on how to prevent double taxation
  • Recommendation on how to increase tax substance
  • Advising on the requirements to obtain the Tax Residence Certificate

 

Management Consultancy

  • Analysis of organizational structures and processes
  • Recommendation on business operations

 

Accounting & Bookkeeping

  • Keeping accounting records as required by UAE laws and regulations
  • Preparing statutory accounts as per IFRS
  • Preparing management accounts, as may be required by the client
  • Designing accounting systems, documents, records and processes
  • Liaison with Auditors
  • Payroll Services

 

Marketing Study & Research

  • Conducting surveys to determine the best marketing strategy
  • Advising on the marketing (segmentation, targeting and positioning) of goods and services to clients.

 

Business Services

  • Provision of Secretarial Services
  • Assistance for UAE employment/residence visa applications
  • Assistance for visa applications
  • Organizing for meetings

 

Recruitment Services

  • Assistance in the selection of suitable qualified candidates for available positions

Nina Auchoybur

Managing Director - ABAX UAE

Email: nina.auchoybur@abaxservices.com

  • Office No. 2601, JBC2
    Block V, Jumeirah Lakes Towers,
    Dubai,
    United Arab Emirates

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