Prime Tower, Office# 2707, Business Bay, Dubai, UAE
Construction is one of the first businesses that humankind developed, and it continues to shape our daily life in unique ways. Virtually all other businesses rely on the construction industry to provide and maintain their accommodation, plants and infrastructure, and construction is a determinant of where and how almost everyone lives, works and plays. For nearly the entire population of the world, the built environment heavily influences quality of life.
Early in 2013, the Abu Dhabi Government committed to fund a further AED330 billion for major developments over the next five years, focusing on social development, particularly healthcare, education, housing and selected strategic transport projects.
Same time in Dubai, expansion of existing conurbation continues and construction activity remains steady through the various projects taking place, including the completion of the Downtown Dubai and Business Bay projects. Further work was intended in and around Dubai’s second major airport, Maktoum International. Dubai with in short span of time has setup a bench mark in construction business by erecting ‘Burj Khalifa’ as the modern wonder of the world.
Under the most commonly used procurement and contractual arrangements (involving both local and international parties), the employer engages its own design, supervision and project management consultants and separately procures a contractor to construct the project according to that design.
Dubai Municipality G + 1 permit required and other mandatory permits from the other department
Types of licence
The outlook for the UAE construction sector is positive for the years to come. Although the low oil prices pose real challenges for a country in which the hydrocarbons sector still contributes 34.3% to the nominal GDP (2014), the construction sector is set to benefit from further development of tourism, international events such as Expo 2020, major government investments in transportation infrastructure and even from the current political unrest in the region, in which the UAE continues to have a ‘safe haven’ status. This concise study will look into ongoing construction activity in the UAE, spread across residential, commercial, hospitality, healthcare and infrastructure segments. Opportunities and challenges will be highlighted. Anyone wanting to explore the construction market in further detail, is most welcome to contact the FIT-office in Dubai.
A large number of infrastructure works have been started in recent years in the United Arab Emirates. Major roadway, airport, and port (upgrade) projects are ongoing in preparation of further expected population influx and of the upcoming Expo 2020 event in Dubai. The ongoing airport expansion project at Dubai International, worth USD 7.8 billion, will increase the airport’s current capacity from 60 to 90 million passengers per year by 2018. Dubai’s second airport, Al Maktoum International, was opened for cargo operations in 2010 and opened its doors to passengers in 2013. When the USD 32 billion expansion will have been completed, the airport will be the largest in the world, able to accommodate more than 160 million passengers and 12 million tonnes of cargo per year.
Forecast for the UAE construction sector remain largely positive. The continuous growth of the population, along with major government investments, makes for a large number of projects in healthcare, leisure, hospitality and residential sectors. More care is being taken by investors and developers with regards to feasibility and correlation of supply and demand.
from corporate tax
Possible to operate from UAE
No Capital requirements
No currency restrictions
Employment visa processing made simple
Repatriation of profits and capital
No audit requirements
Minimum responsibility and maximum benefits
2 Persons can open up an LLC
The maximum number persons or employees an LLC can have is 50
If you want to open an LLC in Dubai then you have to invest a minimum of AED 300,000/- or USD 81,744/- which is abysmally when compared to the higher forms of organization set ups.
If you want to open an LLC in emirates other than Dubai, then the capital requirement is further down to AED 150,000/- or USD 40, 872/-.
The DED is the vital government body for registering and licensing companies who intend to do business in the mainland of Dubai. The DED recently has been updating its rules and regulations to act as a one stop shop service centre for all licenses in mainland Dubai. Today DED provides fast track services compared to most of the government authorities in other emirates or neighbouring Gulf countries.
Draft the MOA and AOA
Help in obtaining approval from DED
Registering the company name
Acquiring out an office space
Apply for a trade license
Submit docs and pay license fee
Obtain license & start business operationbr>