Q: Hello, I would like to incorporate an LLC in the UAE, but it is unclear when the company will make profits. How can I withdraw money from my business account? In the US, that can be done via owner’s draw. Is this similar or does that work differently?

Q: Hello, We have moved to the UAE and opened a Free Zone Company. We have managed to open our personal UAE bank accounts and these accounts have a GBP foreign currency account in them as well (personal). Now, the issue is we are facing tremendous issues with two business banks that we opted to apply for our business accounts. Our questions: We have two clients in the United Kingdom that will be paying us in GBP £, can we get them to pay us directly into our personal GBP accounts whilst we wait for the banks to get their act together? Would this be allowed by UAE law?

Q: Hello, I have a question related to business. I have set up a business in the UAE (Flexi desk in Free Zone). The business activity is E-Commerce. I have registered the business and obtained a UAE Investor Visa, but when it came to opening a bank account, I faced a lot of difficulties. While I was waiting for the opening of a bank account (which took me 4 months and the banker has failed to open a bank account), I have opened a merchant account with Telr. I started accepting payments online from my customers and right now there's money in the merchant account which can be withdrawn to a UAE business bank account (as I have mentioned earlier, I don't have a UAE business bank account). So I have contacted them and asked if they can transfer the money to my personal bank account which is outside the UAE (US bank account or my Russian bank account). They have stated that they can't settle funds to the bank account outside the UAE due to UAE CB rules. Can you suggest me please what I can do in this situation?

Q: Hello, I have a question about long-term car rental. If I rent a car for a couple of months through my company in Dubai, I can deduct these amounts from taxes, right? It’s better for me to do that instead of buying a car privately, correct?

Over the years the UAE has become a centre of trade and commerce for the Middle East, thanks to its strategic location, excellent connectivity and extensive services to assist with all aspects of business. According to the World Bank's 2016 report, the UAE has ranked 31st in the global index of ease of doing business. This encourages more entrepreneurs to set up different kinds of business entities in the country.

The provisions of this Law apply to the commercial companies established in the UAE and the foreign companies that have established in the UAE a base to conduct any activity therein or established a branch or representative office. The Law abrogates Federal Law No. (8) of 1984 Concerning Commercial Companies.

The law defines the crimes related to money laundering, commitments and the jurisdictions of the governmental authorities, and the sanctions against perpetrators of money laundering.