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Setup LLC Company in Dubai with the help of our company formation consultants, enjoy tax-free status and give wings to your dreams.
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How to Setup LLC Company in Dubai in 2020 How to Setup LLC Company in Dubai in 2020 The United Arab Emirates offers a wide range of facilities and perks which have attracted foreign investors to setup a company in Dubai. It provides state-of-the-art infrastructure and business environment for everyone to fulfill their ambitions. One of the vital aspects which one needs to take into consideration for company formation in Dubai is the kind of legal entity he wishes to establish. He also needs to decide on the type of business activities he wants to conduct. There are mainly three types of company formations in Dubai- Mainland Company Formation, Offshore Company Formation, and Free Zone Company Formation. A large number of entrepreneurs have gone for the LLC company Formation in Dubai for their business as it has potential benefits and very few risks associated. LLC Company is the standard type of Mainland Company formation in the UAE. You can also form a Free Zone Company (FZC), which is a limited liability company
What is a Limited Liability Company? What is a Limited Liability Company? Salient features of a LLC Company Salient features of a LLC Company The limited liability company is preferred by many of the businessmen, and therefore, it is one of the widest set up entities. The limited liability companies are the ones where the liability of owners or partnersis limited upto theirshares in the capital. An LLC company in Dubai has features of both corporate as well as a partnership firm and providesadvantagesof both types of entities. The concept was limited liability company was launched in 1977, and it is considered relatively new in comparison to othercompany formation types. As the company members are not personally liable if any loss occurs, it has gained its popularity in recent decades as it addresses numerous concerns of entrepreneurs and providesbenefits thatare unique tothis type of entity.
Why Setup LLC company in Dubai Why Setup LLC company in Dubai LLC Company Formation Benefits LLC Company Formation Benefits If you setup LLC Company in Dubai, then the company partners are safe from personal liability, and if any loss occurs, they don’t need to pay for it from personal assets like real estate, automobiles, etc. They will only need to pay according to their respective sharesin thecompany. • The paperwork required for LLC companies is comparatively lesser. Therefore, it makes it easier not only to start an LLC company in Dubai but also to maintain it. Legal compliance also becomesfacile. • In an LLC company in Dubai,you can havetwo to fifty shareholders, which ease the funding and functioning of the company. The shareholders can be individuals or corporations. •
Why Setup LLC company in Dubai Why Setup LLC company in Dubai LLC Company Formation Benefits LLC Company Formation Benefits There isnorestriction on thevisasrequired for your company • LLC has permission to conduct any of the activities, including the ones such as insurance, banking, etc. Therefore, you can obtain licenses for most of the business activities. • There are no restrictions on the number of branches you can have in the UAE. You can even set branchesin any of the freezones. • A companycan own real estate without ownership restrictions. • The people investing in your company enjoy an investor’s visa, which provides them an optionof 100% repatriation without any corporate tax. •
How to setup LLC company in Dubai How to setup LLC company in Dubai LLC Company Formation : Step by Step Procedures LLC Company Formation : Step by Step Procedures The first task is to decide a suitable name with which you wish to start the business. You also need to decide on the business activities in which your company is going to get involved. • As per your business type, activities, and needs, you need to select a suitable location in Dubai. • It is essential to have an agreement between the company partners and local sponsor who owns 51% of the company shares. •
How to setup LLC company in Dubai How to setup LLC company in Dubai LLC Company Formation : Step by Step Procedures LLC Company Formation : Step by Step Procedures All the required documents should be collected and then submitted to the Department of Economic Development (DED Dubai) with a filled application. • As a business conducts specific activities, permits and licenses are required to be taken from the respective departments. • One needs to obtain trade license, tenancy agreement, labor cards, MOA (Memorandum of Association), certificate of incorporation, and visas from relevant authorities. •
Documents required for setting up an LLC Documents required for setting up an LLC company in Dubai company in Dubai Be ready with these Documents to form LLC in Dubai Be ready with these Documents to form LLC in Dubai LLC company formation registration application form Passport copies of partners, managers, and shareholders of the company Sponsor’s passport copy NOC from the sponsor is required Memorandum of Association (MOA) (It should be attested from the public notary) Initial approval provided by DED Trade Name Registration form The location of the office and tenancy contracted attested by DMPD (Dubai Municipality’s Planning Department) and CDF (Civil Defense Department) Each shareholder’s bank reference holder • • • • • • • • •
FAQs FAQs CompanyFormation Formationin inDubai Limited LimitedLiability LiabilityCompany Dubai How How many Company Companyin inDubai At least there must be two shareholders for starting an LLC company in Dubai Mainland. How How many many shareholders shareholders are are required LLC LLCcompany companyin inDubai DubaiFree Freezones? Free Zone Company can bestarted with justone shareholder. What What percentage percentage of of equity equity do local localsponsor? sponsor? Talking of LLC in UAE, the local sponsor owns 51% of the total company shares. many shareholders shareholders are DubaiMainland? are required required to to Setup Mainland? Setup LLC LLC required for zones? for starting starting an an do I I need need to to part part with with the the
FAQs FAQs the cost cost of of company What What would Dubai? Dubai? Thetotal costof thecompany formation variesasper theindustry and your business activities. The license fees change according to the industry. The cost may change as per the location, visa requirements, and the fact whether you wish to setup a companyin the free zone or mainland. Is Is it it necessary necessary to to have have a a registered registered agent formation? formation? No, if you want to Setup LLC Company in Dubai, then the process doesn’t necessarily need to be carried out with the help of a registered agent. However, looking at the foreign restrictions and government regulations, it is suggested to have a reliable firm by your side for company formation. They will guide you through the licensing, sponsorship, and throughout the process. would be be the company formation formation in in agent for for company company
FAQs FAQs typesan What Whatare arethe thelicense licensetypes anLLC LLCcan canhold? hold? An LLCcan operate asper these three licenses: Commercial- It coversallthe trade-related activities Professional- It covers professional servicessuch asa clinic, crafts, etc. Industrial- Itcoversmanufacturingand industrial activities. What Whatare LLC in the UAE enjoys getting a tax residence certificate from the Ministry of Economy, UAE. LLC Companies in Dubai are allowed to conduct trade activities not only in all partsof the UAEbutalsoin other GCC countries. arethe thetax taxbenefits benefitsthat thatan anLLC LLCoffers? offers?
FAQs FAQs What is the procedure for LLC Company What is the procedure for LLC Company Liquidation? Liquidation? Limited Liability Company Liquidation processis asfollows: Serving Servinga a dissolution dissolutionnotice It includes submission of registration and licensing application form, submission of official document for dissolution of the company, notarized minutes of the company meeting, and a notice of the appointment of a liquidator. noticeand andappointing appointinga a liquidator liquidator Submission of the license copy of the liquidator, auditor’s license and registration certificate, letter of acceptance by the liquidator, and registration certificate. The company also needs to give advertisements to this effect in English and Arabic newspapers.
FAQs FAQs What is the procedure for LLC Company What is the procedure for LLC Company Liquidation? Liquidation? Getting licenses canceled and canceling the commercial registration Getting licenses canceled and canceling the commercial registration This process involves the submission of various documents such as the final account of liquidation, cancellation of establishment card, cancellation of visa, NOC issued by the ministry of labor, newspaper advertisement copy submission, partner letter, and business activity- specific approvals from Government bodies if applicable.
N R Doshi & Partners N R Doshi & Partners Are you looking to get started with your new business in Dubai? As you can see, there is a step by step process which is necessary to follow to Setup an LLC Company in Dubai, UAE. For that reason, you need the guidance of a Company Formation Firm that owns the local expertise required to deal with license processing and arranging document requirements. N R Doshi and Partners is one such firm that has experience in LLC company formation in Dubai, UAE. We also provide Free Zone Company Formation Services, and Offshore Company Formation Services. We can guide you from the initial stage to the point where your company starts functioning. Our expert team will make you choose the perfect location for your business, and decide all the business activities. After that, we can even support you in finding a reliable sponsor for your business. The company formation team will take care of all the document submission required by DED for setting up an LLC in UAE. And after you get everything done, your LLC company will be ready to getstarted.
