L.L.C Company Formation

LLC Company Formation in UAE-Dubai

LLC company formation is the most common type of company incorporated in Dubai, United Arab Emirates. Establishing a business in Dubai opens up the entire UAE market and establishes a regional existence that allows access to a broader market. The process of forming an LLC company in Dubai involves a few steps.

For this purpose, several documents are required, as well as two permits (first and final permit). But this whole process can easily be managed by impressive consulting firms. You can easily cooperate with the relevant local authorities and manage this lengthy and difficult process more easily.

Benefits of LLC Company Formation

  • Allows you to engage in local trade and services
  • The most popular way of establishing a trading company in the UAE
  • Provides excellent access to the broader economy of the UAE
  • No minimum capital requirements
  • Investor is granted an unfunded investor visa
  • Option for an investor to open branches in any emirate
  • No involvement or local partner in day-to-day business activities
  • Easy to open Corporate Bank Accounts and Credit Facilities
  • Enjoy world-class infrastructure warehouse and office facilities

Requirements for LCC Company Setup in Dubai

  • A limited liability company should have a minimum of 2 and a maximum of 50 partners
  •  A local sponsor is required to form an LLC in Dubai. This local sponsor will hold 51% of the shares while the foreign investor will keep the remaining 49% of the shares. Company owners have 100% ownership in case of a professional license.
  • A minimum of one and a maximum of 5 managers are required. Shareholders can also be appointed managing directors. These managers are responsible for managing day-to-day activities.
  • You may only engage in industrial or commercial business activities after the incorporation of the Dubai LLC company. These Dubai LLC companies are not permitted to engage in legal, other consulting services, accounting and auditing of financial statements, and most professional activities.
  • The name of the LLC company in Dubai should be the same according to its activity mentioned in the Dubai name.
  • Shares in Dubai LLC company cannot be offered for public subscription to establish or increase capital and loans.

As mentioned above, there are two types of permits (initial permit and final permit) required to incorporate an LLC company in Dubai. Different documents must be submitted for both procedures. Interested foreign investors must submit these documents to the relevant authorities.

 

Documents required for initial approval

  • Application for Dubai company formation and license, along with reserved trade name
  • Passport copy of the foreign investor
  • Copy of no-objection certificate from the current sponsor if the applicants have a residence Visa.
  • Copy of passport of local sponsor along with the family book.
  • Copy of Emirates ID (for UAE nationals only)
  • Copy of passport of proposed directors and general manager

Documents required for final approval

  • A copy of initial approval issued from the DED.
  • A set of documents submitted for initial approval
  • Copy of office lease agreement called Ejari, including the address of the plot
  • Memorandum of association duly signed by a notary in the local court.

 

What can GVMC offer you?

  • Getting approvals and clearances from concerned departments
  • Preparing Memorandum of Association and other necessary documents
  • Arranging the local partners
  • Assistance with bank account Opening
  • Assisting to find suitable office premises
  • Handle other documentation work
  • Assisting to arrange residence visa

Choosing the right place and choosing the best license for your business can be a difficult but very important task.

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