The standard kind of company in the UAE mainland is the Limited Liability Company (LLC).
Limited Liability Company
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:
- Single Trading
- General Trading
- Contracting
- Advertising Agency
- Transportation
- Technical Services
Benefits of an LLC Company Formation in UAE:
- 100% tax-free
- 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.