Khaleej Times, Sunday, Mar 19, 2023 | Sha'ban 27, 1444
Can I set up a company or invest in UAE without being physically present in the country?
Question: I am planning to visit Dubai soon and explore some investment
opportunities. Is it possible for me to run a business there without being a
Answer: Pursuant to your queries, the provisions of Federal Decree Law No. 32 of
2021 on Commercial Companies are applicable.
In the UAE, an expatriate can set up a new entity or buy shares of an existing
entity in accordance with Article 2 of the Companies Law.
It is not mandatory for you to be physically present in the UAE to set up a
legal entity or invest in any existing legal entity or make any other form of
investment. You can issue a notarised and legalised power of attorney to any
person of your choice who is present or will be present in the UAE, to act on
Alternatively, you can come to UAE on a visit or tourist visa to complete the
relevant procedures for incorporation of an entity or invest in any existing
entity in the UAE.
If you wish to be just a shareholder/partner in an entity in the UAE there is no
requirement for you to have a UAE resident visa. However, if you are a
shareholder/partner and a manager of an entity in the UAE, then you should hold
a valid UAE residency visa and UAE resident identity card for undertaking a
transaction with any banks in the UAE where the entity will open and operate its
bank account and to represent and transact in the name of the entity with any
local and federal authorities in the UAE.
If you intend to only be a shareholder/partner in an entity and not be its
manager then you may consider appointing a manager of the entity by issuing a
power of attorney to such an individual to manage your proposed business in the
UAE. The manager shall require a valid UAE residency visa and UAE resident