Dubai is prospering with businesses booming across every sector. With the advancement in place, Dubai’s corporate is structured following modern business. In Dubai, a company can be started in primarily three distributions: Dubai Mainland, Dubai Free zones and offshore. Each of these fall under different tax jurisdiction and subjections.
Commercial Companies Law (CCL) forbids an LLC in the mainland to provide 100% foreign ownership to an investor. Though company formation in Dubai free zones is a feasible option, setting up a business in the Dubai Mainland has apparent advantages in the longer run. Starting a business in Dubai Mainland generally compasses to the formation of a Limited Liability Company (LLC).
A Limited Liability Company (LLC) is amongst most popular business set up entities in Dubai, UAE. An LLC company is a flexible enterprise type involving a partnership of local and foreign entities. This corporate structure subjects partnership with a local sponsor entitled with a minimum of 51% shares. An LLC in Dubai can have between two to fifty shareholders. An expatriate can have no more than 49% of stock. It can be defined as a company in which the liability of its partners is limited only to the extent of their shares in the capital. It is a separate and distinct legal entity. An LLC may conduct any type of business activity excluding insurance, banking, and investment
Forming a Limited Liability Company is the most popular means for setting up a company in Dubai. Establishing LLC in Dubai has several benefits.
Certifying documents by the notary in the particular UAE consulate and the home country of the applicant is mandatory. It is advisable to start the notarization procedure early as the process takes significant time. The process involves translating the documents into Arabic before submitting to UAE authorities. For maintaining authenticity, the application is thoroughly investigated by the state government legal department authorities. After you get a green signal from the authorities, the company name is included in the Commercial LLC business register, and the MOA gets published in the Economy and Commerce Ministry bulletin. The time required to form an LLC company in Dubai from the date of receipt of all the necessary documents is approximately a couple of weeks. The LLC formation cost in regards to documents is around AED 10,000.
Business Setup Worldwide is specialised in providing accurate business setup solutions across the globe. We have a background of a decade plus experience in catering to our clients successfully for business set up services. For setting up a Limited Liability Company in Dubai, or any business set up related query feel free to contact us. We would be happy to assist you in your business setup process.