The standard kind of company in the UAE mainland is the Limited Liability Company (LLC).
Dubai has kept on being a most loved location for investors around the world for an LLC Company Formation as it remains tax free and different in its policy.
In LLC, the minimum number of investors is 2 and the most extreme is 50. The liability of investors is restricted to their shares in the capital.
UAE Foreign Ownership Restrictions:
The rule restriction for foreign investors setting up an LLC is the UAE foreign ownership limitations. When setting up an LLC, the CCL endorses that no less than 51% of shares must be registered to a UAE/GCC national sponsor, regularly referred to as a local partner.
The formation of LLC company in Dubai permits the following business activities:
Benefits of an LLC Company Formation in UAE:
Investor becomes investor in the company
Financial specialists(Investor) can form branches
Investors are offered UAE residence visa
Share of profit and losses at a proportion different form of the share capital
No restriction in owing offices or properties in the UAE
Worldwide/Local bank accounts are easy to open
No definite minimal capital necessities
A LLC can legitimately trade anyplace in the UAE, including the Free Zones
The financial specialist can deal with the business without the everyday interference from the local partner
Documents required for LLC Company formation:
Photocopy of applicant’s passport
Local Sponsor’s passport copy
Photocopy of the director’s passport, and NOC letter from the director’s current sponsor.
Registration application form from Dubai Economic Department.
trade name booking for LLC Company.
Initial approval from Dubai Economic Department
Memorandum of Association duty confirmed from public notary.