To set up any company in Dubai, you are expected to register the company under the Economic development authorities. This is important so you can obtain a valid set-up license. This step is mandatory for any foreign investor who wants to run and own a business in Dubai.
LLC details – for Dubai
LLC in Dubai is considered as a procedure for any standard company registration. The license for setting up the company is obtained from the local government authorities. The license is mainly issued based on the type of services you want to provide.
Once you have obtained the license, then you are also entitled to own a real estate premise for the company.
You are free to apply for the work or business visa procedure only after obtaining the license
The complete declaration has to be made officially to the economic development authorities in Dubai
The procedure is the same for any type of entity or company including trading
Local restrictions imposed
There are a few restrictions that you may need to keep in mind regarding the company ownership. As per the UAE laws, the part of the company can only be owned by a foreign entity. So, if you are interested in setting up an LLC Company, then it may not be possible unless you involve local sponsors.
This is one rule that any foreign investor is expected to follow. This simple technique is termed the corporate shareholder model. The company can be fully owned and operated by you, but not without local sponsorship.
Local shareholder business model
Getting familiar with this aspect is important even before you plan for LLC Company formation In Dubai as per the rules, any business in Dubai is expected to provide over forty-nine per cent of the shareholding to the local sponsor.
The remaining fifty-one per cent can be owned by the foreign entity. This means that you are still in charge of fifty-one per cent of the company share. This is mandatory for any privately owned business in Dubai. This is one of the terms that will always benefit any corporate sector industry that wants to get established in Dubai.
Local government partnership
This is one point that big companies need to get familiar with. If you are planning to establish a big or limited company in Dubai, then you have to understand the cost involved. You can search for LLC Company cost in Dubai online.
In case the company is limited, then you can also opt for a partial government partnership. The local government bodies will participate as the shareholder in this case. This is the main option for any company that wants to serve within a much wider region
If you are a manufacturing unit then this type of partnership is more helpful. The cost of running a big company in Dubai will always be a big amount. In certain cases, government permissions are also mandatory.
Zone selection
The company set up may also depend on the zone selection. Mainland Company formation in Dubai requires the entities to meet certain criteria. You may not be aware of the basic criteria.
Apart from this, it is also important to provide full details of the documents before getting started with the registration process. If you are already a visa holder, then the process gets simple. For others applying for a visa is mandatory.
The moment you plan for an LLC company set up in Dubai, you get unexpected benefits. One benefit is that your liabilities are fixed to the percentage of the shares you hold in the company. It also offers with advantage where you are free to carry out any type of trade.
