Most of the business man like to setup their business in Dubai; that is in a local market. In Dubai there are a lots of prospects for business setup. So, many business men are keen to set up their business in Dubai. If you are planning to setup a company in Dubai; then you have to select a best suitable structure for your business. It this point let me tell you one more thing; that is LLC company formation in Dubai is one of the best structure for company setup.
A local sponsor is require to set up an LLC company Dubai. That is he will act as a co-owner of the business. But, expats has full control in terms of the profit sharing; as well as carry out on his business tasks. Also note that shams consultant offers full assistance for LLC company formation in Dubai. So, you only need to provide us full details of your partners and about the nature of your business. And then, we will take care of rest of the set up process. We will provide you a reliable local partner for your LLC company.
LLC Company formation in Dubai
An LLC company formation in Dubai needs at least 2 and at most of 50 share holders. It this point let me tell you one more thing; that is Dubai LLC company needs at least one local partner. That is Local partner will hold at least 51% of share in the company. There for, expat partner will hold 49% of share in the company. Dubai LLC may carry on any type of business except; that is an insurance, an investment as well as banking.
Capital requirement for LLC Company setup Dubai
Mainland Dubai company formation do not needs any capital also no deposit in bank. Thus, in Dubai an LLC can be set up without a Bank Deposit. But in Abu Dhabi capital requirement rule is still exist. That is a 150,000 Dhs share capital requires to setup an LLC Company. The general manager of an LLC is responsible to run the bank account; that is for an LLC Company setup dubai. LLC Company can have manager from 1 to 5. Thus, Manager can have all financial and administrative powers. A shareholder in LLC Company may allow to transfer his share or part of it to another shareholder.
MOA for LLC Company Registration Dubai
Till this point we explain a lot of thing about the set up of LLC Dubai. Now it is time to say some thing about the The memorandum of association must include the following:
Trade name of the company,
Duration,also its objectives,
Names of shareholders and their addresses,
Nationalities of shareholders and places of residence.
Capital amount. Also, share of each shareholder.
Company managers, and a statement of capital paid in kind (if any).
Distribution of profits and losses.
Adopted method of notification.
Benefits of LLC Company Incorporation
LLC offers access to the wide range of UAE economy
IT is the most general method of forming a company in Dubai.
In LLC the investor become the partner in the company
No limit on staff visa; and also allow to rent an office in mainland.
The investor has the option to start branch of his own company.
The assets and capital will belongs to company. and Also, assets are not related to a local Sponsor.
No capital requirements for LLC Dubai.
The investor will get the investor visa under which he or she can support his family.
The investor can manage the company without the interference of local partner
Allow a wide range of activities.
Allow to open global / local bank accounts and gain credit facilities.
Can a non-UAE national open LLC Dubai without a local partner or local services agent?
No, all LLC Dubai require a local partner; that is a Local partner will hold 51% of share in a company capital. However, in the case of professional licenses a UAE national can either be a partner or a local service agent.
What kind of trading activities a Dubai LLC Company can conduct?
In principle, there is no restriction on LLC Dubai to perform trading activity. However, Dubai LLC company are not allows to perform ban activities in the areas of banking, investment and insurance. Industrial activity require a special licensing procedure. However, they can operate as a LLC Dubai and enjoy exemptions and subsidies in particular; as opposed to pure trading enterprises.
Are there legal possibilities for the controlling stake position of a local partner in a Dubai LLC company?
The MOA act as constitution for Dubai LLC Company. It is governing the internal organization belongs to its partners. Furthermore, MOA regulates the rights and duties of the partners generally. Thus, it creates right and responsibilities between them and LLC Company respectively. The rights define in MOA are directly enforceable on all partners. Therefore, a care full well written MOA will strengthen the position of foreign partner. A company contract will fix the distribution of profit and loss. Thus, Deviations of a ratio of up to 80:20 for the benefit of the foreign partner are permissible. It is not possible to exclude a partner entirely from the appropriation of the financial results. However, a foreign partner can take a part of the profit as a salary. The foreign partner can manage the entire business. Every partner will attend the general meeting of the company.
Is it possible to establish a LLC company in Dubai for professional activities?
No, LLC Company in Dubai can only do trading and as well as an industrial activity. Professional activities are only allows to civil companies.
What are the requirements for establishing LLC companies in Dubai?
To set up an LLC Companies in Dubai you need to follow the following main steps.
First of all choose from a commercial; an industrial or a professional for an LLC Dubai.
Choose the type of business works for an LLC Company formation in Dubai.
Define all the business work. Because, a Dubai LLC can carry on more than one activity; that is subject to a maximum of 10 activities.
Select your business legal form taking into concern the desire business activity.
define all requirements and also define all conditions require for an LLC company formation in Dubai.
Select the trade name for an LLC Dubai.
Submit an application for an initial approval. That is you can submit application in the DED offices; or you can also use the internet and online form to submit request. You can also use document clearing service; or You can also use legal consultant’s office for submission of documents.
Next step is to register a trade name; that is after getting an initial approval.
Lease a business premises. We recommend to visit the Planning Dept. of Dubai Municipality. So that, to verify that premises is suitable for the business. You can also take the help of business set up consultants before leasing premises.
Prepare all the documents. Such as, MOA and other approval, which are necessary in each case. For example, to carry on a media activities; an approval requires from Ministry of Information and as well as Culture. You will receive documents through a mail. If you have paid the required fees directly through Internet.
Submit an application to the Department to obtain a final license.
Pay the require fees and collect your license.
Dubai LLC licence fees
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Does foreign companies require a “sponsor” for all types of LLC company formation Dubai?
As a rule, a local person will act as a partner in dubai llc. However, a local sponsor will act; that is like a non active partner of the company. Some time, we also called a sleeping partner. As per U.A.E Law, expat can only hold 49% share in LLC company formation Dubai. So, a local sponsor must hold a at least of 51% of the company capital. In a representative office, a branch office as well as in a professional license expat can hold 100% of share. But, it still require a service agent to represent them in Legal departments.
Can a foreign company choose LLC company formation in Dubai for their commercial activities?
The LLC company formation in Dubai is one of the 7 type of commercial entities; that is provide by the Company Law. Most of foreign investor choose LLC set up structure; that is because of, its flexible structure. However, LLC Dubai is limits to an activity; such as, trade as well as to an industrial works. A legal definition of “trade” is define in a Civil Code. Trading does not include services and consultancy. For example, A medical services, An education services or An academic services as well as a skill profession. There are other types of company that can perform such activities.