Most entrepreneurs these days opt for an LLC or Limited Liability Company to set up their business in the commercial hub of Dubai. There are several reasons for this. One, it’s the most easy to set up, especially if you’re looking at a start up in a foreign country. Two, an LLC incorporates the best of two worlds – a partnership venture and a regular corporate enterprise. This seems attractive to most business people.
Benefits of Setting up an LLC in Dubai
We’ve already mentioned two above and there are a couple more. Let’s take a glance.
- The formation of such a firm is fairly simple. It takes a minimum 2 members and a maximum of 50 to start an LLC.
- The liability of each of the company’s founders is restricted to the shares they hold in the company’s capital.
- The company works on a very flexible structure and therefore allows for a differential profit-sharing arrangement too.
- An LLC firm allows for 51% participation from a UAE citizen while the remaining 49% can stay with a foreign shareholder.
For all these reasons, LLC setup is really preferred by most entrepreneurs in Dubai. Now let’s look at how you could go about setting up one.
LLC Company Setup Dubai – Simple Steps To Follow
The company can be established in 6 simple steps:
- Choose a name – It should be the one that you’ll be using to carry out all business operations and put forward for approval from the Licensing Department of the Emirates.
- Create an MoA – The Memorandum of Association of the company needs to be duly attested by a Notary Public.
- Get your company approved – The Economic Department would be responsible for doing this. Once approved, you would then need to get your company entered into the Commercial Register.
- Publish the MoA – The Company’s MoA needs to be published in the Bulletin of the Economy and Commerce Ministry.
- Issuing of the license – The Economic Department issues a license to the company to commence operations.
- Registration of the company – At last, the company gets registered with the specific authorized industry and commerce department.
We Can Help You Set up LLC in Dubai
We at Arab Business Consultant (ABC) have been dealing with providing expert consultancy services to a number of businessmen about starting their venture in Dubai and other emirates of the UAE.
Here’s what we can do for your LLC company formation in Dubai –
- We will take care of all paperwork necessary to begin the process of company formation
- We will help identify a local sponsor for you in the UAE
- We will help you choose an ideal setting for your office space
- We would work with you all along to obtain all license approvals
- We would help you create a bank account in Dubai and look into the required procedure for it
Let us help you in securing a comfortable residence in Dubai.
