Limited Liability Company Formation in Dubai
Dubai emerged as one of the top business destinations in the world which attracts millions in LLC Company Formation. Dubai has continued to be a favorite location for investors around the world for company formation and LLC as it remains tax-free and diverse in its policy. Most of the investors prefer to LLC Company formation in Dubai.
The liability of shareholders is limit to their own share in the company and can form with a minimum of 2 and a maximum of 50 stakeholders. LLC Company is restricted to perform business activities like banking, insurance, or money investment.
A Limited Liability Company requires an Emirati local sponsor or silent partner with 51% of the share in the company and the expatriate investor will hold 49% of the share. After all legal procedures are done, this local partner or silent partner will make an agreement in the court that he has no involvement in the company.
Complete assistance is provided in setting up LLC Company Formation by Business Link UAE. Our business consultants clearly understand your requirements, your budget, the nature of your business activity, complete details of your partners, and give complete assistance to find a proper location and a reliable local sponsor for setting up an LLC Company. Our team care of the entire incorporation process and other legal formalities of the company within less period of time.
Requirements for Limited Liability Company License in Dubai
On 10th August 2009, the capital requirement law was canceled and in Dubai, a Limited Liability Company can be registered without having Bank Deposit Certificate and Auditor Certificate. Thus making LLC Company Formation in Dubai less burdensome for the expatriate.
LLC Company Setup Procedures
- Choose the appropriate legal structure of the business.
- Select the name and the activities involved in your application.
- Choose the proper location for your LLC company formation.
- Compile & submit the required documentation to get the license from the Department of Economic Development of UAE.
- For some special business activities, get approvals from relevant regulatory & Government authorities.
- Get office / Virtual office/ Warehouse / Land for the company formation operations.
- Obtaining Trade License, Certificate of Incorporation, Memorandum of Association, Share Certificates, Tenancy Agreement for your LLC Company Setup.
- Processing visas, labor cards, and other legal documents.
Required Documents for Setting Up a Limited Liability Company in Dubai
- Investor’s passport copy
- Local sponsor’s passport copy
- Manager’s passport copy
- NOC letter from the sponsor if the partner or the Manager has a residence visa in the UAE
- Registration application form from Dubai Economic Department
- Trade name reservation
- Initial approval from Dubai Economic Department
- Tenancy contract for the office/warehouse attested by the planning department and civil defense department of Dubai municipality along with location plan
- Memorandum of Association duly attested from the public notary