Things to Remember in Registering a Branch of a foreign Company.
There are several business owners who think on expanding their business base and spread across different countries. But the market scenario’s in the world will pause them a bit and make them think on what is the right way to do it. There is a solution for this and it is branch out the parent company which would eventually protect their brand and the goodwill.
There are numerous questions revolving in the mind of investors when they start to think about setting up a branch. This blog highlights these queries by addressing them.
A well-established organization, seeking to expand its operation overseas will look at the following factors.
- A Local market presence in overseas gives an insight to identify and exploit the prospects in the Target market.
- A branch will any day give a flexibility to control the operations.
- Evaluating the potentiality of the growth prospects against the required investments.
Considering the regulations of Setting up a Company in Dubai, the authorities involved in the giving approvals are the Ministry of Economy and Commerce and the Ministry of Justice in additional to the Dubai economic department. Before proceeding any further, let’s put a light on the documents required to proceed with. All the original documents of the parent company to be attested from the Ministry of Foreign Affairs Home Country and UAE Embassy in Home country. This is a process adapted to certify any foreign document in UAE. After getting these arranged the same set of documents has to get attested from the Ministry of Foreign affairs in UAE and the Ministry of Justice. This is most important and the must to do process in a branch registration. Along with these outlined documents, the Owners of the parent company also need to pass a Board resolution to establish a foreign Branch and appoint a manager to act on behalf of the company. Once the whole process is done before proceeding with the ministry of justice, the documents are further legally translated to Arabic as this is the local language of Dubai.
Once we go through this process, we now proceed with initiating the approvals from the Dubai economic department.
This Registration of the Branch Company can be classified into seven steps.
- The foreign entity will file the application with the Dubai Economic development, with all the necessary information filled.
- This file is then routed to the ministry of the economy and commerce for the further approval on the activity to perform in the local market.
- The authority internally takes the approval from the Federal Foreign Companies Committee.
- After the approvals are attained an approved document is issued from the Ministry of Economy and commerce to proceed with the Department of Economic development by charging the approval charges.
- We can further proceed with the documents to be notarized in the courts for the branch company.
- When finally submitted with all the approvals, the Commercial License is issued from the Department of Economic development.
- Finally a Dubai Chamber certificate and Industry would be obtained for the Branch office to be officially registered.
To take through this over all process it is mandatory to have an expert advice and guidance at every step of documentation. We at CLEVER CORP carry a vast experience in getting these process done through a seamless approach. Contact us at +971-4-5804048 or +971-58-6412031.Drop a mail for us at firstname.lastname@example.org