How to Setup a Limited Liability Company (LLC) in Dubai, UAE?
The UAE, Dubai in particular, is a popular destination for entrepreneurs and investors from all over the world. There are a lot of options when it comes to setting up a company in Dubai. One of the choices you will have to make is to decide on the company structure of your business.
Seeking help from a business setup consultant in UAE can Setup a Limited Liability Company in Dubai very easy. It is also important to know the steps of LLC business setup in Dubai, to avoid confusions or complications.
The most popular type of company structure in Dubai is a Limited Liability Company or LLC. LLC company setup in Dubai is safer than the other types of company structure. We will see why that is when we learn what is a Limited Liability Company.
What is Limited Liability Company (LLC) in Dubai?
A Limited Liability Company (LLC) is a type of company structure where the shareholder’s liability is limited to the capital they have invested in the business. This means that if the business were to go bankrupt, all your personal properties that are separate from the business will be safe.
Whereas, in other types of company structures, the banks can look to your personal properties to collect your debts and loans
In Dubai, a Limited Liability Company must have a minimum of two shareholders and can have a maximum of 50 shareholders. All of these shareholders will have full protection from the liabilities of the business. Limited Liability Companies can be formed on the mainland in Dubai.
Most of the free zones in Dubai also facilitate the creation of Limited Liability Companies within their jurisdiction.
Expatriates often choose an LLC for their business setup in Dubai because it allows the maximum retention shares to the expatriate for the local business, which is 49%. This is because of the UAE law which states that foreigners must have a local investor in order to legally start and run a business in the Emirate.
Documents Required for LLC Business Setup in UAE
The Department of Economic Development (DED) will ask for certain documentation before granting the license for LLC business setup in Dubai.
You may be asked for following documentation:
- Application form of registration from Dubai Economic Department
- Passports copy of expatriate investor
- Passports copy of local sponsor
- Passports copy of managers and shareholders of the company
- No Objection Certificate (NOC) from sponsor if the shareholder or manager has residence visa in UAE
- Copy of Emirates ID (for UAE nationals)
- Registration of trade name and initial approval from DED
- Location plan and tenancy contract of office by the Dubai Municipality Planning Department and Civil Defense Department
- Memorandum of Association (MOA) duly attested from public notary
- Bank Reference Letter for all shareholders
This is the process for LLC business setup in Dubai, UAE. Establishing an LLC can present great business opportunities and benefits in the Emirate. We recommend assistance from a company setup consultancy, for speedy and efficient registration. Contact us to learn more.
Read More: https://www.companysetup.ae/how-to-setup-llc-company-in-dubai/
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