Business,Strategy,Series,Branc business, insurance Business Strategy Series IV: Branch/Representative Offices o
Small offices have unique needs, and thatincludes document shredding. Designed with the smaller business inmind, the Dahle 20314 is a cross-cut shredder that offers Level 3security and brings you into compliance with federal regulations. The As we all know to live in this world we have to perform some activity by which we can earn money. There are many activities by which we can earn money and meet the standards to live in this society. And from one of them is franchise. Franc
A Branch Office that is legally part of its parent company is permitted to perform contracts or conduct other activities which are specified in its license and are similar to those of its parent company. Each branch can have several sub – branches, with the same licensing and registration procedures. On the other hand, a Representative Office is limited to promoting its parent company’s activities, i.e. gathering information and soliciting orders and projects to be performed by the company’s head office. In addition, Representative offices are also limited to the number of employees they may use. Documents required to set up a Branch/ Representative office: - Company registration certificate - Company profile - Board of Directors’ agreement to establish a branch - Copy of Article of Association - Power of Attorney to the representative - Financial statement of the past two years - Contractual agreement with local agent - Details of the local representative A license application must be submitted to the Ministry of Economy. If the application is approved it is sent to the Economic Department of the emirate in which business is to be undertaken. The time required to form a Branch/ Representative Office of a foreign company is approximately 4 weeks. Article Tags: Representative Office
Business,Strategy,Series,Branc