LLC Company Incorporation is the most beneficial type of business registered by foreign investors in the emirate of Dubai because this is the only possibility that allows them maximum ownership. Dubai LLC companies let foreign investors own 49% of its capital, while 51% must be carried up by a local sponsor – UAE national or partner. The incorporation procedure of an LLC company in Dubai is quite evident requiring not many steps to be concluded. Another positive benefit of the Dubai LLC company is that it can be registered for any commercial purpose.
- Opening a Bank account and maintaining
- You can commence global corporate bank accounts
- The investor can open branches
- The company is authorized to hold un-defined offices or properties in UAE
Requirements for LLC Company Formation
Besides the shareholding structure, there are additional qualifications to set up an LLC company in Dubai. Between these, the company should have a minimum two shareholders and maximum 50. There is no least possible share capital required to incorporate an LLC company and to do the company formation Formation in Dubai, except for the said capital test entitled by the Department of Economic Development (DED). In this case, the Department of Economic Development DED makes a determination if the capital signed up by the partners is enough for the activities they chose. Another condition for a Dubai LLC company is the managerial positions. Under the Dubai Company Act, the company must have one and five managers.
Steps to Setup an LLC company in Dubai
There are hardly any steps to follow when registering a limited liability company in Dubai.
- Select a company name which will be used to execute business activities and apply for approval to the Licensing department of the Emirates you plan to set up your company in.
- The registration of the company with the DED
- Drafting the company’s Memorandum of Association (MOA) and Article of Association following by Dubai courts notarization
- Submit the documents and business license application form with the DED
- Registration with the Dubai Commercial Register.
NOTE: When the company is incorporated, it must also enroll its employees with the Ministry of Labor and General Authority for Pension and Social Security.
Benefits of Limited Liability Company Formation
Nearly all the emirates in the UAE have officially passed on the formal requirement of minimum capital, meaning the investors who are planning to register their company within Dubai doesn’t require a minimum investment required for setting up. However, depending on their company size, nature of business, and activities, some companies may still be required to meet a minimum capital investment.
Small entrepreneurs looking to carve a niche for themselves in the local market can benefit from this kind of business setup, as it opens opportunities for creating and developing stronger relationships in the local UAE market. helping your venture take advantage of this mode of corporate structure in the UAE. We at Cratus Consulting can assist in getting your business enterprise upon its maxima with LLC formation in Dubai, in accumulation to our services to help with Sharjah, Jebel Ali and Ajman Freezone business setup.
Interested to know how we can help you succeed? Contact Cratus Consulting today! Our professional sales team is ready and waiting to answer all your queries. (Call us on +971543424550)