Company Registration
Quick & Easy Company Registration
PHILOS FZ LLC provides unparalleled personalized accounting services to a broad range of clients across the UAE. As your certified accountants, we are here to ensure that all of your financial decisions are made carefully and with your best interests in mind. We are ready and able to serve as your financial advisor, tax planner, and guide along your path to success.
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Different Types of Company Registration
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There are various types of legal entities that operate commercial and professional activities in the United Arab Emirates (UAE). These legal entities are usually referred to as ‘companies’ in general practice. Therefore, for the purposes of easier reference we will use the term ‘companies’ while referring to legal entities, even though the term ‘companies’ may seem not compatible term for certain types of legal establishments.
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Why You Should Register Your Business Now!
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It gives you a unique identity (and protects it too)
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There is a certain pride that comes with the identity of your own business. It’s no longer that big idea you’ve had in your head all these years. It’s now a real thing that legally exists; with its own name and address.
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It protects you from personal liability
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This is arguably the biggest reason why many people have to register their business. Without the legal protection of limited liability, you could lose your business and personal property if something goes wrong (say somebody sues you to court for heavy damages).
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It makes you look serious and attracts more customers
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In today’s modern world, most customers, especially corporate customers, expect a serious and responsible business to be registered. In fact, most companies will not do business with an unregistered business. In certain cases, it’s against the law for regulatory and tax reasons. Think about it for a moment: If your business is not registered, how can you issue receipts to customers for products you sell or services delivered?
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It’s easier to get bank credit and investment from investors
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For banks, there are basically two categories of loans; Personal and Business Loans. They’re both totally different and one cannot be used to represent the other. As a result, most banks will gladly lend you money to buy a new car or house but none will give you money to fund a business that isn’t registered. To qualify for a business loan, the Number 1 and non-negotiable requirement is that your business must be registered. Period!
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It’s important for continuity sake
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A registered business is an asset (like a house, car and other properties) that can be passed down (as an inheritance) or sold by its owners to a new generation of people who can continue to own and run the business. Registering your business will help you achieve your dreams of continuity.
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It gives you TAX advantages
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In many countries, businesses are given tax concessions as a way to encourage people to build businesses & stimulate the economy. This means that once you are earning a certain amount, it is better for you to run the business in a company structure as the tax man will take less of your dollars.