20 Jun Doing business between Argentina and the United Arab Emirates
Doing business between Argentina and the United Arab Emirates
To begin with, setting up a company abroad can be difficult without the appropriate assistance. Namely, due to the number of unexpected challenges that companies face when doing business internationally. For example, abrupt legal revisions, language barriers, bribe demands, and worker strikes. Thus, we have a network of professionals who impeccably work together. Additionally, we offer you the best service and value to successfully get through those challenges.
As a matter of fact, businesses should know how to deal with legal matters and settle disputes across national borders as they globalize. Actually, when doing business in foreign countries, learning about local legal systems is essential. By itself, there is a potentially huge demand for the international lawyer network. Hence, our lawyers are therefore working more closely together to respond to such cases.
Additionally, our law firm offers integrated, first-class proficiency in every specialized field. Therefore, your business will benefit from the very best of specialists in particular fields are gathered for a faster organization during their entire business setup process. We certainly not only advise companies in setting up an office, but clients also count on us during their company´s entire lifetime.
In order to accomplish our goal, we have embraced the task to defeat the boundaries of doing business internationally and making it simpler than current standards.
Indeed, our team of professionals shares the same values, personal integrity, reliability, and loyalty. Thus, if your company needs assistance in a specific area please feel free to contact us.
The United Arab Emirates
The UAE is a federation that comprises seven Emirates including Abu Dhabi, Ajman, Dubai, Fujairah, Ras Al Khaimah, Sharjah, and Umm Al Quwain. It is a good choice for a country for international business. For example, Dubai has the largest and most sophisticated financial services industry in the region. On the other hand, Abu Dhabi and Dubai are growth markets in their own right and are reliable hosts to international companies.
The UAE’s quick development, urbanization, and youthful residents are increasing demand across the leisure, infrastructure, real estate, and utility sectors. Despite UAE can be a demanding market, it does not present major challenges for foreign companies willing to grow. It has a diverse and multi-cultural society with 80% of the UAE population expatriates. As a result, the UAE is regarded as quite liberal within the region and provides schools, cultural centers and restaurants catering for international cultures. The national culture rotates around the well-known religion of Islam, but other religions are also appreciated and churches and temples can be found beside mosques.
Formal Legal Presence
A particular requirement when doing business in UAE is that foreign businesspeople are obliged to establish a formal legal presence. This could be done either directly or through an agent and by any one of the following operations:
• Incorporation of a local entity: In this type of company, foreign ownership is usually restricted to 49%, and the remaining 51% must be held by UAE nationals.
• Registration of a branch or representative office of your company: You will need consent from the Ministry of Economy and to make a deposit of a bank guarantee of AED 50,000. In addition, the office has to be sponsored by a UAE national or a locally registered company entirely owned by UAE nationals. A contract in which the national agent sponsors and assists the foreign company in return for a fee, is needed.
• Establishment of a free zone entity: The free zones offer a wide range of benefits to businesses and flexibility.
• Entrance into a commercial agency relationship: This applies when you intend to export goods or services to the UAE. The relationship you establish must be with a UAE national or a company whose ownership belongs to nationals.
Argentina is the world’s 25th largest economy and the second-largest in South America. It is a strategic spot for foreign business. It has the highest English language proficiency in Latin America, which makes the language barrier obstacle disappear. English is compulsory at state schools in the City of Buenos Aires and the Province of Buenos Aires. Many private schools are bilingual and attract many middle-class students.
Benefits of doing business in Argentina:
High-level market with European influence and respectable business culture.
Excellence in professional skills, including the maximum English Proficiency Index in Latin America.
A key member of MERCOSUR trading bloc.
The country needs foreign companies for several reasons:
Technological innovation, to improve quality standards, and a need for employment.
An international company in Argentina might take different legal types:
The most suitable form for your particular business will depend on the types of operations you intend to carry out. Setting up a company is generally undemanding and can be done within one month.
Frequently Asked Questions
How do I find business partners in other countries?
Our professionals from Limeres, Attorneys can help you in finding appropriate and trustworthy business partners in Argentina and UAE. We will take into account your needs, values, and professionalism.
How do I legally register my company?
To register your company is one of the requisites to function. In both countries exists an authority in charge of company registration. If you contact us we will guide you through this process.
How long does company registration take?
In fact, registration is an administrative process that simply requires filling out the proper forms. It can be as short as hours or days.
Do I need to open a bank account?
As an individual establishing a presence in the UAE and Argentina, you will need a bank account for your company transactions to be more serious.
Can I hire staff from overseas for my business?
Yes, you are allowed to hire foreign staff for your business, provided that each person you intend to hire qualifies for the job you are offering.
In conclusion, staff who have specialized knowledge and who share the nationality of the foreign company may become certified for the job and the required permissions or visas.