LLC Company Incorporation is the most excellent type of business registered by foreign investors in Dubai as this is the only possibility that allows them a have maximum ownership. Dubai LLC organizations let foreign citizens to own 49% of its capital, while 51% must be carried up by a (UAE national) local sponsor or partner. The incorporation procedure of a LLC company in Dubai is quite straightforward requiring not many steps to be concluded. Another beneficial advantage of the Dubai LLC company is that it can be registered for any commercial purpose such as:
- It can be used for Bank account opening and maintaining.
- You can open global corporate bank accounts.
- The investor can commence different branches.
- The company is qualified to hold un-defined offices or properties in UAE.
Requirements for LLC Company Formation:
Besides the shareholding structure, there are additional qualifications to set up a Limited Liability Company in Dubai. Between these, the company must have minimum of two shareholders and maximum of 50. There is no minimal share capital obtainment to incorporate a LLC company Formation in Dubai, except for the enough capital test entitled by the Department of Economic Development (DED). In this case, DED makes a decision if the capital signed up by the founders is enough for the activities they anticipate. Another condition for a Dubai LLC company is the managerial ones. Under the Dubai Company Act, the company must have one or five managers.
Steps to Setup a LLC company in Dubai:
These are the steps to follow when registering a limited liability company in Dubai.
- Select a company name which will be consumed to execute business activities and apply for an approval/ endorsement to the Licensing department of the Emirates you plan to setup a company in
- The registration of the company with the DED
- Drafting and notarizing the company’s Memorandum of Association (MOA) and Article of Association
- Submit the documents and business license application form with the DED
- Registration with the Dubai Commercial Register
NOTE: When the company is incorporated, it must also enroll its employees with the Ministry of Labor and General Authority for Pension and Social Security.
Benefits of Limited Liability Company Formation:
Nearly all the emirates have officially passed on the formal requirement of a minimum capital, which means entrepreneurs looking for company registration within Dubai need not meet a minimum investment requirement for setting up. However, depending on their size, nature, and activities, some companies may still be required to meet a minimum capital investment.
Small entrepreneurs looking to carve a niche for them self in the local market can benefit from this kind of business setup, as it opens opportunities for creating and developing stronger relationships in the local UAE market. Smart Zones UAE can help your venture to take advantage from this mode of corporate structure in the UAE. We can assist in getting your business enterprise up on its extremities with LLC formation in Dubai, in accretion to our professional services to help with Sharjah, Jebel Ali and Ajman Free zone business setup.
Interested to know how we can help you succeed? Contact RIZ & MONA Consultancy today! Our professional sales executives are ready and waiting to answer all your queries.