LLC Company Formation
in Dubai
UAE is the prime hub for trade and economic activity, with lucrative and supportive opportunities for aspiring entrepreneurs and investors. This encourages the expansion of businesses in the UAE. A wide range of products are manufactured, imported, and exported to and from Dubai. Also, it allows for 100% ownership of the company or business in Dubai, UAE. And there are many ways to set up a business in UAE. One of them is the LLC Company Formation in Dubai.
What Do You Mean by LLC in Dubai?
LLC is the short form for Limited Liability Company. It is the most common and standard form of company in Dubai, UAE. A Limited Liability Company can have a minimum of 2 and a maximum of 50 shareholders. This insinuates that the company is not entirely owned by one person. The liabilities of the investors or shareholders are limited to the number of shares they own in the business capital.
How to Setup an LLC Company in Dubai?
- Choose your trade name and business activity.
- Register the trade name.
- Apply for initial approvals.
- Draft Memorandum of Association (MOA) and other agreements.
- Choose a location for your physical/virtual office or warehouse.
- Submit all the required documents and agreements to DED.
- Pay fees and get the license.
According to the new UAE law, a local sponsor has not required to set up a Limited Liability Company in Dubai except for some activities. And a foreign owner can have 100% ownership of his/her LLC company.
- Application form for the company formation and license
- Passport and visa(visit/residence) copies of all the shareholders or managers
- Reference letter from the bank for each shareholder
- Attested MOA(Memorandum of Association) from public notary
- Trade name registration and initial approval from DED
- Attested tenancy contract with location plan
- Copy of NOC from the current sponsor if partner or manager is on a residence visa
Benefits of LLC Company Formation in Dubai
- 100% foreign ownership without a local sponsor except for some activities like buying and selling of real estate
- Allows to do local trade and service
- Can have a maximum of 50 shareholders
- No specific capital required
- Greater access to the wider UAE economy
- Can open branches anywhere in UAE
- A foreign owner or shareholders can run the business without any communication or interference with the local service agent
- Can open a corporate bank account and use the facility of credit cards
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Why Booming Bytes?
Dubai LLC company registration requires the processing of a series of legal documents. Once the Department of Economic Development has approved the company and grants a specified license, the firm can then move on to tackling other legal and managerial issues. Such as the distribution of shares and the establishment of a proper managerial structure.
If you are looking for LLC/Limited Liability Company Formation in Dubai, we can assist you in all the documentation and business setup procedures. If it seems to be hard for you to complete the process, we make it simple for you. Just contact us and talk to you our experts who are highly experienced in LLC Company Formation, and can help you easily.