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.
Many businesses are reluctant to set up a business in Dubai due to the high set-up costs and the need to have a local sponsor who will be owning 51% of the company. While there are many benefits to running a business in UAE, like the zero income tax, world class infrastructure, multilingual workforce, these attractions count for little, when it comes to the cost of setting up a business. Getting a bank account is very difficult if you do not have the right documents and licensing.
The cost of setting up a business in Dubai would round to approximately 20000 AED which includes general trading license, municipality fees, fees to the Ministry of Economy and Dubai Chamber of Commerce. The cost can slightly increase if you are looking to set up in Dubai Free Zone. Although there are many free zones available in Dubai, the hassle free processing of the formalities is what matters when it comes to cost reduction. Global Links is one such professional consultant who helps business set up companies in Dubai.
-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.
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