LLC Company Formation in Dubai, UAE
Limited Liability Company or just LLC is the most widespread business type prevailing in UAE. LLC company formation in Dubai, UAE requires a minimum of 2 and a maximum of 50 shareholders in order to run the business. Mostly the companies which have foreign partners or investors opt for the LLC company formation here in Dubai.
LLC company formation in Dubai or elsewhere Company Formation in UAE. While foreign equity in the company may not exceed 49%, profit and loss distribution can be mutually agreed. Responsibility for the management of a limited liability company (LLC) can be vested in the foreign or national partners or a third party.
LLC company formation in Abu Dhabi and Dubai UAE involves the following steps which we have formalized for your convenience:
- The license should be acquired from the Deportment of Economic Development of UAE. It requires submitting an application of LLC company formation Dubai, UAE with supporting documents.
- You need to select the name and the activities involved in your application.
- If you have some special business formation in Dubai activity, then you need to take the permission from the concerned ministry of UAE.
- The applicants are entitled to submit notarized copies of their memorandum of association certificate, tenancy contract and the investment capital certificate. It should be submitted directly to the Department of Economic Development of UAE for the approval of company formation in Dubai, UAE.
- The attainment of a capital contribution certificate from the investor’s bank is mandatory along with the application.
The applications are thoroughly investigated by the state government legal departments for their authenticity and requirement fulfillment. After the clearance from the state government legal department of UAE, the name of your company is included in the Commercial LLC business register and the Memorandum of Association gets published in the Economy and Commerce Ministry bulletin. The formation of LLC company in Dubai allows the following business activities:
- Single Trading
- General Trading
- Advertising Agency
- Technical Services
Advantage of LLC company formation in Dubai, UAE
- No specific minimum capital required for LLC Company formation in Dubai
- No taxation for LLC Company Dubai.
- The liability of the company is limited to the company only, means if any loss arises to the firm the partners are liable to the extent of their share of capital only and their personnel assets will not be attachable.
- A Dubai L.L.C. offers unrivaled access to Dubai and the U.A.E. economy, with Dubai L.L.C. investors can get Trade Licenses from Dubai government.
- LLC Company investor gets an investor visa
- There are few restrictions on the activities of a Dubai LLC and it is possible to obtain a license for almost all the activities.
- Through a Dubai LLC, the company gets strong physical presence in Dubai and UAE.
- It is easy to open global corporate bank accounts following LLC Company Set up in Dubai.
Documents required for LLC Company formation in Dubai, UAE
- Investor’s passport copy
- Local Sponsor’s passport copy
- Manager’s Passport copy
- NOC letter from the sponsor if the partner or the Manger has a residence visa in the UAE.
- Registration application form from Dubai Economic Department.
- Trade name reservation for LLC Company.
- Initial approval from Dubai Economic Department
- Tenancy contract for the Office/warehouse or showroom attested by planning department and civil defense department of Dubai municipality along with location plan.
- Memorandum of Association duly attested from public notary.