Requirements and Benefits of LLC Company Setup in Dubai
Business setup in Dubai, UAE
Dubai has been the perfect destination for investors in the past years, thanks to the endless benefits, such as diversified policies, economic stability, tax exemption, and full ownership opportunities.
There is a lot of documentation, authorizations, and approvals required for business setup in UAE. Professional Business Setup Consultants in Dubai help clients acquire these documents and permits from different governmental corporations such as the Dubai Chamber, Ministry of Labour, Department of Economic Development, Dubai Immigration and Naturalization Department, and many more.
To set an LLC company in the Dubai Mainland, you need to have a local sponsor. A local sponsor owns 51% of the capital’s name 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.
As a leading Business Setup Consultants in Dubai, Global Link provides clients with the special service of Corporate Local Nominee partnership. Under this sponsorship, we act as the majority shareholder on any newly establishing or existing onshore license.
Global Link solution for the corporate sponsor (51%) is held by the company:
Risk Mitigation Agreements (RMA)- under this control and profit entitlement divert from the UAE Corporate Shareholder to the foreign investor(s).
From a structural perspective, people prefer the Global link corporate sponsorship solution rather than using a local Emirati individual as we provide complete protection and security to our partners.
There are several advantages of using a corporate sponsor instead of a UAE individual for business setup in UAE, including:
- Control of the company rests with the client
- The fee charged will not increase arbitrarily
- The client has the 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
- Global Link is licensed and regulated; an individual is not
- Global Link is insured against loss
- We transfer the Power of Attorney to the manager of the company for day-to-day activities.
- A Global link 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 this corporate sponsorship 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 once we complete all legal procedures.
- Easily open a global corporate bank account following the Dubai LLC formation.
- No minimum capital payment is needed.
LLC Companies Are Limited to Some Kinds of Businesses Which Are-
- Money Investment
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 a suitable location, preparing legal documents, issuing trade licenses, and issuing visas. We promise to make the process of your business formation faster and with the least cost possible.
Business setup in UAE requires a series of steps, procedures, and approvals from the Department of Economic Development. To get started with business setup in the UAE, apply for a trade license, choose a trading name, sign your LSA, lease an office space, submit all the documents to DED and pay your license fees.
UAE gives investors multiple options when it comes to business setup. You can start your business in the UAE as a Mainland company, a Free Zone company, or an Offshore company. You can choose an option depending on your business activities, targeted clients, and allocated budget.
The cost of business set up in UAE differs depending on the type of business you intend to start and the type of legal entity you will be creating. The cost involved usually includes office rent, license fees, employee visas, etc. Consult with the experts at Global Link to get a better understanding of the upfront investment and business funds you would need when setting up a business in the UAE.
Yes, a foreign investor can start a business in UAE. The UAE government has made various provisions to encourage foreign investment in the UAE market, including providing long-term visas, 100% business ownership, and zero income tax.
Generally, it takes 1 to 4 days for a business setup in Dubai mainland if no third party approvals needed. Otherwise, it may take from 1 to 4 weeks. Some of the factors that determine the time required to start your business in the UAE include your business activity, business jurisdiction, and company structure.
Some of the mandatory documents needed for business setup in UAE include:
- Trade name reservation receipts
- List of business activities
- Passport copy of all shareholders
- Entry stamp or visit visa page
- Passport size photograph as per the protocols (size, background color, etc.)
- Initial approval receipt from DED
- Attested Lease agreement copy – EJARI
- Attested Memorandum of Association (MoA) or Local Service Agreement (LSA)
- Approvals from other concerned government authorities