OverviewÂ
Dubai is one of the Middle Eastern worldwide cities holding the elements of Western and Eastern countries. Therefore creating your LLC formation in Dubai is a smart move for entrepreneurs. An LLC company Dubai gives numerous benefits such as limited liability for owners, a flexible business structure, and tax benefits. In this blog, you will learn about a few steps you need to follow for a successful LLC company set in Dubai.Â
What is an LLC formation in Dubai?
LLC company set up Dubai is a limited liability company and is one of the formation of businesses. It gives flexibility regarding management and taxes and also provides personal liability protection. LLC company formation in Dubai UAE is usually favored among entrepreneurs and small businesses. It is formed in such a way as to safeguard owners/shareholders from personal liability business debts and obligations.
The process to follow for LLC company formation in Dubai
LLC (Limited Liability Company) license in Dubai is issued by the Department of Economic Development (DED) government. They classify and control economic activities. Here are a few steps that you need to go through for a successful LLC formation in Dubai.
Step 1 Decide your business activity
The UAE government provides an LLC formation in Dubai with a choice of more than 2000 business activities. You can get your business-preferred activity easily. It is advised to do market research before selecting an activity.Â
Step 2: Search for a location for your LLC formation in Dubai
When starting up an LLC formation the location plays a major role as it affects your legal responsibility and income. To take most of the benefits from your office search for a location which is near to the market. Do check these factors before finalizing your business location such as space, budget, technological requirements, employees, etc. You do require a rent or lease agreement for having an office space.
Step 3: Choose a name for your LLC formation
Select a name for your LLC according to the operations your company will do. You need to reserve your company name to avoid violation of the law. Entrepreneurs and business people must follow the government law in naming their companies.
Step 4:Â Submission of all documents to DED
You need to now submit all the necessary documents to DED to get the issue approval.
Step 5: Create a Memorandum of Association (MOA) to get the approval for your businessÂ
You must make an MOA of your LLC formation in Dubai that showcases your business activities. You need to put in your company details such as its legal standing and rights. You specify your company shareholders, connections, and aim. You need to provide your MOA to the authorities with a rent or lease agreement.
Step 6:Â Obtain a trade license
Once the authority approves your business activities you get MOA and other important documents with a trade license.Â
Documents required for Dubai LLC company registration
Some important documents you need to submit to DED for your LLC formation.Â
- Copy of emirates
- Copy of DED registration form
- Copy of investor passport
- The lease agreement for the office space
- Selective names chosen for company reservations
- Entry visa
Conclusion
Are you looking for a business setup in Dubai or an LLC formation in Dubai then you can get in touch with Rakesh Khatri has an eminent consulting company in Dubai that will guide you throughout the process.Â
Arab Business Consultant has an excellent LLC formation service and is known for providing various other business services that would aid in enhancing your business growth and will get a seamless process throughout your business journey.Â
Here are some of our insightful blogs that will guide you through the process and the services we provide.
