Business setup in Dubai
Dubai has been the perfect destination for investors in the past years, thanks to the endless benefits such as diverse policy, economic stability, tax exemption and full ownership opportunities.
In order to start up a business in Dubai or UAE, there are a lot of documentation, authorizations, and approvals that each business needs to obtain to start properly. There are also a lot of documentation and approvals to be acquired from different governmental corporations such as Dubai Chamber, Ministry of Labour, Department of Economic Development, Dubai Immigration and Naturalization Department and many more.
Requirements and Benefits of Setting a company in Dubai LLC
In order to set an LLC company in a Dubai Mainland, you need to have a local sponsor. A local sponsor owns 51% of the capital’s name but without investing any of his funds in the company. A local sponsor does not have to take any of the company’s profit but can take his share in various other profit sharing forms such as getting an annual fixed fee or a percentage of the revenue.
Global Link can provide a special service of Corporate Local Nominee partner to act as the majority shareholder on any newly establishing or existing onshore license
Global link solution for the corporate sponsor (51%) being held by the company:
Risk Mitigation Agreements (RMA) under which control and profit entitlement are diverted away from the UAE Corporate Shareholder to the foreign investor(s).
The main difference from a structural perspective as to why people prefer the Globallink corporate sponsorship solution rather than using a local Emirati individual is the protection and security it gives.
There are a number of advantages for using the corporate sponsor instead of a UAE individual such as:
- Control of the company rests with the client
- The fee charged will not be increased arbitrarily
- Client has flexibility to change the sponsor at any time
- Risk Agreements protect both parties
- Avoidance of uncertainty over sharia law
- A company doesn’t die so no issues with probate if death occurs
- Globallink is licensed and regulated; an individual is not
- Globallink is insured against loss
- Full Power of attorney will be passed onto the manager of the company for day-to-day activities
- A Globallink representative is always available for signatures (no need to chase the Emirati national and wait if they are out of the country)
It is worth noting that yes this is available for any newly incorporating company but also this is more geared towards already existing companies who wish to remove their existing local sponsor and replace them with a much more secure vehicle.
-100% profit share although you only own 49% of the business.
– Local Sponsor is not involved in your company according to the agreement they make in the court after all legal procedures are done.
– Easiness of opening global corporate bank accounts following a Dubai LLC formation.
– No minimum capital needed to be paid.
LLC Companies Are Limited to Some Kinds of Businesses Which Are
Global Link provides all types of PRO services to assist you in setting up your company in a UAE Mainland area. We provide services starting from finding the suitable location, preparing legal documents, issuing trade licenses and issuing visas. We assure you we will make the process of your business formation faster and with the least cost possible.
Want to Setup your company now please feel free to:
Drop us an email at: [email protected]
WhatsApp us: +971 52 922 4409
Call us: +971 04 553 9901
+971 04 447 1286
Toll free No. 800 GLINK
or visit us at:
Office 1410, The Burlington, Business Bay, Dubai, UAE