Our client, one of the leading IT solutions company providing support to international clients approached us to setup business and to receive payments online.
ENGAGEMENT PLANNING:
We studied the client’s business requirement and provided a suitable investment structure. We assisted them in choosing the right jurisdiction to avail tax benefits by using the available tax treaties. The Company was setup in Dubai, an international trading hub with excellent banking infrastructure. The very first step was to prepare the detailed business plan for the new company in Dubai. The business plan included information on the company’s planned activities, products and services, clients, market analysis, competitors, risk analysis, details on its management team and operational strategy.
BUSINESS SETUP:
After receiving confirmation of the business plan from the client, Intuit suggested suitable names for the new company in Dubai. An application was filed registering the preferred name of the company with the Dubai Authorities. On receiving approval of the preferred company name, Intuit drafted the Memorandum of Association, Articles of Association and other legal documents for submission.
BANK ACCOUNT SETUP:
Once the company was incorporated, Intuit initiated the process of bank account opening in Dubai. Intuit filled the bank application form and sent it to the client for signature. After receiving the signed application form Intuit submitted the same along with the due diligence required. The bank account was opened with in 2 – 3 weeks.
MERCHANT ACCOUNT SETUP:
Once the bank account was opened, Intuit approached the bank and got the pre-application form for the merchant account. Intuit filled the form and got the pre-approval from the bank. After getting the pre-approval, Intuit filled the merchant account application form and sent it to the client for signature. After receiving the signed form, Intuit submitted it along with the due diligence required. Then the merchant account was successfully opened in a month.
ANNUAL COMPLIANCES:
The client had also requested to assist in annual compliances. We ensured the legal compliances were completed on time by submitting the audited financial statements and Government fees.
SUMMARY:
The business plan tailor made for our client enabled them to commence business in a hassle free manner and the ancillary services provided by Intuit allowed them to concentrate on their core business.
