LLC Company Formation in Dubai
UAE, one of the most lucrative destinations for business expansion and investment, allows national and international entrepreneurs and ventures to establish their business in the country and earn high profits. There are host of legal forms of entities that can be incorporated in the UAE, of which LLC company formation in Dubai is the most sought after and common form which offers a flurry of exclusive benefits to incorporators in terms of business friendly environs, relaxed taxation policies, cheap local resources and much more.
Different rules and regulations apply to different forms of companies, and same is the case with a LLC company formation in Dubai and the other six Emirates. As per the laws governing LLC company formation in Dubai, a LLC business setup can be done with a minimum of two and maximum of fifty people where their liability stays restricted to their share in the organization’s capital.
A limited liability company offers seamless access to a wider UAE market and a host of other advantages to the foreign entrepreneur/company.
Advantages of Limited Liability Company
- Formal shareholding pattern of an LLC is 51% for Local UAE Partner and 49% for Foreign entrepreneur/company
- 100 % repatriation of capital and profits
- Differential profit and loss sharing arrangement
- Investor becomes partner in the venture
- Easy to open international corporate bank accounts
- Everyday activities can be taken care by the foreign venture with least or no interference of the local UAE partner.
- Liberal bank account opening and maintaining process
- More business branches can be formed
- 100% tax free
- Company can buy and hold infinite property in the UAE
- LLC offers a UAE resident visa to the foreign entrepreneur/investor
Being flexible in nature, the company encourages differential profit sharing arrangement wherein the profits and losses can be shared in an altogether different ratio. The mandate of having a local UAE national as a partner though may not seem to be a good idea to many, but it serves a great advantage to the foreign entrepreneur/company as they can benefit from the local partner’s marketing and trading knowledge and have an edge over others in the market.
Moreover, the foreign entrepreneur/company can also seek help from their local partner for understanding the legal regulations, the UAE market scenario, gaining local resources, and much more. Additionally, as made mandatory by the Companies Laws, a LLC company can engage in any and every kind of business activities except those relating to money investment on behalf of a third party, banking and insurance.
Steps for LLC company formation in Dubai
- Select a name for the company and then take an approval from the Licensing Department of the concerned Emirates.
- Draft a Memorandum of Association (MoA) of your LLC and get it duly attested by a Notary Public.
- Get approval and clearances from the Economic Department.
- After acquiring the approval, an official entry of the LLC is made in the Company Register.
- The LLC’s MoA is then published in the Bulletin of the Economy and Commerce Ministry.
- Finally, the Economic Department issues a license to the LLC and the company is registered.
Jumeira Consultants, a leading LLC company formation consultant in UAE, offers the most comprehensive services in the country. Housing a team of qualified professionals with years of experience in the field of company formation in UAE, we work closely with our clients, understand their needs and help them expand their business overseas. Our services include:-
- Helping find a local reliable partner for company formation
- Assisting in setting up an office at a suitable location with lucrative business options
- Helping through the entire incorporation procedure and securing approvals from the authorized bodies
- Assisting in opening bank accounts
- Offering full spectrum support services
- Helping to obtain a UAE resident visa for the entrepreneur