Dubai is one of the most affluent and cosmopolitan cities in the Middle East with the characteristics of both the East and the West. For many reasons, Dubai is the most favorable Business destination around the world.
LLC Company Formation in Dubai
Limited Liability Companies or LLC is the most popular form of Business setup in Dubai, registered by foreign investors because it grants maximum ownership in the company. With the limited liability, it can be formed with a minimum 2 and maximum 50 shareholders with the sharing of business capital else this can be either individual or corporate entities. This setup option now enables foreign investors to have 100% ownership, eliminating the requirement for UAE local partners to hold any shareholding in the company.
A Limited Liability Company or LLC is very similar to a Private Shareholding Company except that there is a maximum limit to the number of shareholders, which is 50. This limits the liabilities in the case of loss or bankruptcy, hence the name.
The founder-shareholders are not obliged to offer the shares to the public and can subscribe to the paid-up capital in full. Management of the entity can be in the hands of UAE nationals, or foreign nationals or even a third party.
Benefits of LLC Company registration in Dubai, UAE
Business registration in UAE allows one to experience a conducive environment for industry by availing enormous benefits offered by UAE. It is a popular choice among foreign investors for setting up a company mainly due to the 100% foreign ownership, tax savings, ease of doing business, up-scaled business infrastructure, e-governance system, top-class lifestyle, and growing business opportunities.
The LLC Company can now be registered as a 100% expatriate-owned entity in UAE as per the new Cabinet Resolution of 2021. However, depending on the trading activity and industrial sector, the investor has certain regulations to be fulfilled.
Procedures to open an LLC Company Formation in Dubai:
To open LLC Company in Dubai may vary from one jurisdiction to the other as it is governed by a set of procedures. Here are some brief insights that all needs to be done for company formation.
- Choose suitable legal structure of the business
- Select trade name and apply for registration
- Legal procedures such as notarization and legalization of corporate documents such as MOA
- Submit the required documents to get the license from the Department of Economic Development of UAE.
- Final submission of documents to get the commercial/industrial/professional License
- Prepare for post formation formalities such as a labor card for the company and establishment card to apply for the Visas
- Processing visas
Documents required for LLC Company formation UAE:
For LLC company formation, you need to submit some key documents to the concerned governing authorities for approval
- Investor’s passport and visa Copy
- Manager’s Passport copy (If needed)
- NOC letter from the Goverment if needed.
- Registration application form from DED.
- Trade name reservation
- Tenancy contract for the Office/warehouse attested by planning department
Quickbiz Business Setup Services is the one-stop destination where you can get expert advice on any LLC Company setup in Dubai. Our professionals are experts in every aspect of setting up an LLC Company. We are registered business consultants with many years of experience in company setup services to small, medium, and large enterprises.