Questions & Answers
Company formation to carry out the activity of selling goods online
I'm planning to open a company here in Dubai, and I need an advice regarding the formation of a company, i.e. whether it can be registered in the free zone without any problem.
The company will be an online platform that showcases goods available in Dubai and will connect OVERSEAS buyers with local (UAE-based) sellers. The company will make money by charging a commission for each sale.
The company will receive the money from the buyer and release it to the seller. Shipping of goods will be managed by the seller.
Since the company will not buy or sell goods in Dubai/UAE and will not stock goods, my understanding is that I can register this company in a free zone.
However, not sure if holding money here in Dubai affects the form of the company.
Does the money need to be held in Dubai at all?
Can the money be held in an overseas account while it is registered in Dubai?
If not, if the money is to be held in Dubai, is there a certain type of bank account required onshore/in a free zone?
Thank you
Hello there,
With reference to your inquiry, kindly be informed that we can definitely assist you with that matter via serving the complete proper legal consultation.
However, we do require some detailed info pertaining to the same, and that will definitely be during a meeting held at our premises.
For reasons of confidentiality, please contact us on (+971505050835) OR (elkhatib.legal@outlook.com) in order to proceed further with all the necessary steps to be taken.
Kind regards.
Dear Sir,
Thank you for getting in touch with me on this.
Based on your preliminary details, please find my response.
Your company model is best suited to operate in a free zone and this will support you financially and will involve least government formalities.
You can have an overseas bank account and there is no requirement to hold sums in Dubai. However, as a matter of good practice, it is advisable to open a zero maintenance bank account in Dubai.
I trust you will find this appropriate.
Please note that we are registered with multiple free zones and can help you set up your company tailor-made to your needs.
Feel free to get in touch with me on hari@alnassaradvocates.com or call on 052-9495731. Please do not hesitate to contact us, it will be a free consultation.
Regards,
Hari Wadhwana
