LLC Company Formation In Dubai | Limited Liability Company
Dubai is one of the Middle East’s most affluent and cosmopolitan cities, mixing the characteristics of both the East and the West. It is one of the most attractive business destinations in the world.
UAE mainland opens door to a wider market by letting you trade with other mainland companies. Unlike free zones, you don’t have to go through the task of finding a local distribution agent and pay customs duty for business setup in Dubai Mainland.
A mainland business license lets you work on government projects that are extremely profitable. Competition will also be less, as free zone companies are not provided with the opportunity to work for government entities.
Moreover, mainland companies don’t demand for a minimum capital requirement, which makes the establishment even easier and affordable. LLC Company Formation in Dubai is comparatively easy and profitable.
One way of setting up a business in Dubai is through a Limited Liability Company or LLC. LLC is the most prevalent company type in UAE. It can be created by a minimum of 2 shareholders and a maximum of 50 shareholders, whose liability is limited to their business capital shares.
Many companies opt for an LLC with foreign partners, because this is the only choice that gives maximum legal ownership to an expatriate for a local business, i.e. 49 percent. Since it is compulsory to have a UAE national as a partner in the LLC (51 percent shareholding), the prospective investor has the option of choosing the one UAE national (sponsor) as a partner in the company.
LLC is versatile and provisions for mutual profit sharing are feasible, too. It gives the international investor a huge edge as a local partner has 51 percent legal equity.
Setting up LLC company Dubai
The following steps mentioned below are required to set up LLC in Dubai.
- Company registration in Dubai with the Department of Economic Development.
- Drafting and notarizing the company’s Memorandum and Articles of Association.
- Submitting all the required documents and business license application forms with the Department of Economic Development.
- Registering with the Dubai Commercial Register.
- Upon incorporation, registering one’s employees with the Ministry of Labour and General Authority for Pension and Social Security.
LLC Company Formation Cost in Dubai
- Commercial license fees
- General trading activity Fees
- Non-Arabic trade name fess
- Market Fees
- Name board fees
- Service fees
- Partner accommodation fess
- Chamber of commerce fees
- Economy ministry fees
- Local fees
Above are some of the most common fees to be paid, if anyone wishes to set up a LLC in Dubai.
They can contact us.
In case one is interested in LLC setup in Dubai, Horizon Biz Consultancy can setup and provides all the necessary assistance from document registration to finding the investor-friendly zone.
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