LLC Company Formation Service In Dubai - UAE
LLC Comany Formation in Dubai : In Dubai, rules stipulate that the minimum number of shareholders for a limited-liability company (LLC) is two and the maximum 50. The liability of shareholders varies depending on their shares in the capital. All Business activities exempting insurance, banking, or money investment conducted by LLC.
The Department of Economic Development (DED) is authorised to issue licenses for all mainland (onshore) UAE legal entities which are also governed by the UAE Commercial Companies Law (CCL). Moreover, Foreign investors setting up businesses in mainland UAE have an edge over businesses in Free Zones as there is no territorial restriction, business activities or the location of offices/premises. In other words, a mainland company has the freedom to trade anywhere in the UAE or wider Gulf Cooperation Council (GCC) states, including all the Free Zones & an extensive range of real estate options to choose from. Business Setup in Dubai dose’t take much time while dealing with Black Swan.
Limited Liability Company (LLC)
Limited Liability Company (LLC) which is standard type of UAE mainland company licensed granted via DED to function in UAE. For instance, DED also classifies and regulates the types of economic activity by the LLCs.
Advantages of LLC over Free Zone companies:
- Can trade anywhere in the UAE or GCC
- No restriction on real estate ownership
- No restriction on visas.
- No minimum share capital requirements
- Need not pay the standard 5% customs duty on imported goods
Silent Partner in LLC Company
The local UAE sponsor in many Dubai Limited Liability Companies remain as a “silent partner”. Moreover, an annual “sponsorship fee” paid to the local UAE sponsor for giving up management control of the company to the foreign investor.
Documents required for LLC Company Initial Approval
- Registration and licensing application, as well as proof of reserved trade name.
- Photocopy of applicant’s passport (together with residence permit / visa details for non-GCC states nationals).
- Photocopy of applicant’s naturalization identification for UAE nationals only.
- No-objection letter from the applicant’s current sponsor for non GCC nationals.
- Photocopy of the director’s passport, and no-objection letter from the director’s current sponsor.
- Permission from the court to practice business, for applicants under 21 years.
- Approval issued by other Government authorities according to the type of activity.
- The Company’s Board of Directors resolution to subscribe to the new company if the partner is an existing corporate entity in UAE or abroad (the resolution must be attested by UAE embassy / consulate or by a GCC state embassy / consulate and UAE Ministry of Foreign Affairs, and duly translated into Arabic).
Documents required after getting the Initial Approval
- Initial Approval receipt
- All documents submitted before in order to get the Initial Approval.
- Photocopy of office lease including the plot number.
- Original photocopy of the Memorandum of Association duly authenticated by the Notary Public.
- Contract of Limited Liability Company
- If the partner is an existing corporate entity in UAE or abroad the
- Memorandum of Association and the Commercial Register Certificate must be attested by UAE embassy / consulate or by a GCC state embassy / consulate and UAE Ministry of Foreign Affairs, and duly translated into Arabic).
