The LLC Company formation is the most general type of business set up in Dubai, UAE. Starting a business in Dubai opens the entire UAE market and establishes a regional existence that permits access to a broader market. The process of setting up an LLC company in Dubai involves a few steps.
There are several documents required for this purpose along with two approvals (initial and final approval). But this whole process can easily be managed by formidable consultancy firms. They can easily cooperate with relevant local authorities and handle this lengthy and difficult process easier.
Benefits of LLC Company Formation
Permits you to do local trade and services
The most popular form of establishing a commercial company in the UAE
Offers supreme access to the wider UAE economy
No minimum capital requirements
Investor getting investor visa without a security deposit
Option for an investor to launch branches in any emirate
No involvement or local partner in day to day business activities
Easy to open corporate bank accounts and credit facilities
Enjoy World class infrastructure
Warehouse and office facilities
Requirements for LCC Company Setup in Dubai
A limited liability company should have a minimum of 2 and maximum of 50 partners
A local sponsor is required for LLC formation in Dubai. This local sponsor will hold 51% of shares while the foreign investor will retain the remaining 49% shares. Company owners have 100% shares in case of professional license
Minimum one and maximum 5 managers are required. Shareholders can also be appointed as managers. These managers are responsible to manage the day to day activities
You are only allowed to perform industrial or commercial business activities after Dubai LLC company formation. These Dubai LLC companies are not allowed to practice legal consultancy, other consultancy services, accountancy & auditing of financial statements and most of the professional activities
The name of LLC Company in Dubai should be the same according to its activity mentioned in Dubai name
Shares of Dubai LLC Company can’t be offered to the public subscription to establish or increase capital and loans
As mentioned above, there are two types of approvals (initial approval and final approval) required for LLC company formation in Dubai. Different documents are required to be submitted for both these procedures. Interested foreign investors will be required to submit these documents in relevant authorities.
Documents required for initial approval
Application for Dubai company formation and license, along with reserved trade name
Passport copy of the foreign investor
Copy of no-objection certificate from the current sponsor if the applicants have a residence Visa.
Copy of passport of local sponsor along with the family book.
Copy of Emirates ID (for UAE nationals only)
Copy of passport of proposed directors and general manager
Documents required for final approval
A copy of initial approval issued from the DED.
A set documents submitted for initial approval
Copy of office lease agreement called Ejari, including the address of the plot
Memorandum of Association duly signed by a notary in local court.
What Riz & Mona Offers?
Getting approvals and clearances from concern departments
Preparing Memorandum of Association and other necessary documents
Arranging the local partners
Assistance on bank account Opening
Assisting to find suitable office premises
Handle other documentation work
Assisting to arrange residence visa
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