LLC Formation in Dubai | Limited Liability Company (LLC)

LLC Formation in Dubai

LLC Formation in Dubai – A mainland LLC company in Dubai can trade anywhere within the UAE/the extended Gulf Cooperation Council (GCC) states.

51% shares of LLC are reserved for local sponsor while foreign owner will get 49% shares of the company (profits can be distributed differently).

The LLC can be formed with minimum 2 and maximum 50 shareholders, whose liability is limited to their share in the business capital.

Following are the required documents for setting up an LLC in Dubai

  • Passport copies of all the shareholders, sponsor and also managers
  • NOC from the sponsor if the partner or manager has a residence visa in UAE
  • Registration application form
  • Registration of Trade name
  • Initial approval from the DED
  • Memorandum of Association (MOA) (duly attested from the public notary)
  • Bank reference letter for each shareholder
  • Location plan and tenancy contract attested by Dubai Municipality’s Planning Department and Civil Defense Department

Procedure to setup an LLC in Dubai

  • Choose a proper legal types of your company
  • Select the unique name and the activities involved under the company
  • Choose an appropriate location that suits you according to type of your business activity.
  • Gather all the necessary documents and also submit them to the Department of Economic Development (DED)
  • Get an approval from relevant regulatory and government authorities (in case your business will conduct specific activities)
  • Obtain a Trade License, Certificate of Incorporation, Memorandum of Association (MOA), Share Certificate and Tenancy Agreement from relevant authorities
  • Get visas, labor cards and other legal documents

Advantages of Setting Up an LLC in Dubai

  • Less paper work required for formation of an LLC (no need to hold annual meetings and also file annual reports).
  • Freedom to employ number of shareholders in an LLC.
  • Companies can also avoid double taxation
  • LLC may conduct any type of business activity excluding insurance, banking, and also investment
  • The investors of an LLC enjoy investors visa
  • Easy to open corporate bank accounts and also avail credit facilities
  • No restrictions on real estate ownership
  • LLC can also have one or more owners

For further information, Contact us: +971589827842/+97142297508