5 Things you must know before starting your LLC business at Dubai in 2019

5 Things you must know before starting your LLC business at Dubai in 2019

What is an LLC ?

A Limited Liability Company is a company where the liability of shareholders is restricted only to extend their share in the capital . LLC is a company formed as an independent legal entity with its own shareholders. The minimum capital requirement for incorporation depends on the business.

1) Benefits of LLC Company Formation in UAE

2) LLC company formation in brief

3) LLC Company Setup Procedures

4) Required Documents for LLC Company

5) FAQ’s from various client

Benefits of LLC Company Formation in UAE

•    Dubai LLC offers unique access to the wider UAE economy.

•    No specific minimum capital required.

•    An investor can convert a shareholder in the company

•    Global /Local bank account is simple to open

•    Investors can control the business without any day-to-day resistance from the local partner.

•    Convenient to open corporate bank accounts along with the easy availability of credit facilities.

•    100%tax free

•    When setting up in a Dubai free zone, the limited liability company will offer full ownership to international investor

LLC company formation in brief

UAE currently has a completely unbeatable offer For start-ups of LLC’s the license is valid not only for one but for two years, and the cost was decreased considerably. In addition, for many projects, it is not mandatory for the first 2 years to rent an office. A private residential address will be accepted by authorities in order to process the trade license. These exciting new regulations come as great assistance to entrepreneurs as the risk of opening a new business is much lower and the cost saving is immense. Consult us and thrive can help you to have brief idea about set up business in UAE

Over the past decade, Dubai has developed as one of the top business destinations in the world and draws millions in LLC Company Formation in Dubai. Dubai has continued to be a popular location for investors around the world for company formation- LLC as it endures tax-free and diverse in its policy. Most of the investors favor to Setup Limited Liability Company or LLC Company formation in Dubai.

The Limited Liability Company can be made with a minimum of 2 and a maximum of 50 shareholders and the liability of shareholders are limited to their own share in the company capital. The LLC Companies are restricted to perform some kind of business activities like banking, insurance or money investment.

LLC Company Setup Procedures

•    Choose the proper legal structure of the business

•    Select the name and registering the company with the Department of Economic Development

•    Choose the proper location for your LLC company structure.

•    Compile & submit the essential documentation and business license request form with the Department of Economic

•    For some special business activities, get permissions from relevant regulatory & Government authorities.

•    Get office / Virtual office/ Warehouse for the company formation operations

•    Obtaining Trade License, Certificate of Incorporation, Memorandum of Association, Share Certificates, Ownership Agreement for your LLC  Company Setup

•    Processing visas, labor cards, and other legal papers

Required Documents for LLC Company Formation 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 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 city along with location plan

•    Memorandum of Association duly attested from the public notary

The FAQ on the UAE limited liability company

The Limited Liability Company (LLC) is one of the most usual business forms employed by both local and foreign investors in Dubai, however, there are many questions correlated to it, especially coming from foreign entrepreneurs. Below, our company registration agents in Dubai have answered some of these questions:

1. What is the minimum number of the shareholder for a limited liability company in Dubai? What concerning in a Dubai free zone?

The minimum number of shareholders for a limited liability company in Dubai is 2, while in a free zone a single shareholder is allotted.

2. How much does it take to read a limited liability company in Dubai?

The enrollment in a Dubai limited liability company takes a few days to complete.

3. Is it difficult to register a limited liability company if I am a foreigner?

No, the Dubai company formation of this type of company is quite simple, even if you are a foreigner.

4. How much does it cost to register a limited liability company in Dubai?

The company registration charge of a limited liability company in Dubai depends on the industry you want to open it in and whether the company is set up in a free zone or not.

5. Do I need the services of a local agency to register a limited liability company?

 This requirement applies to foreign investors who want to open a limited liability company in Dubai. Our agents offer such services.

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