Who is a Local sponsor?
Local sponsor in UAE – The local sponsor is a UAE national’s, who acts as a service agent for your business in UAE and the local sponsor generally acts as a sleeping partner of the company.
Following are the three ways for foreign entrepreneurs to set up a business in UAE
The Professional services licenses are issued to service providers such as doctors, lawyers, engineers, consultants and accountants. This is only the way for the foreign entrepreneur to set up business outside free zone and owns 100% of the shares, with the support of a local service agent.
LLC-Limited Liability Company formation
If you require a commercial or industrial license then you must need a local partner.
The local partner own 51% of the business, but profits do not have to be distributed accordingly.
Freezone company formation
Registering a company in a free zone is a straightforward way to maintain 100% ownership in your business without having to take on a local sponsor.
Following are the types of local partners/local sponsors in UAE
The corporate sponsorship is similar to the individual sponsorship but here sponsor’s is the UAE national company and they hold 51% share of your business.
when a UAE national’s in his or her individual capacity becomes the local sponsor of a company.
Local Service Agent
If you want to open a professional services company then you need a local service agent. They will not hold your business shares. They will only represent a company in all administrative works and deals with government departments.
We at MSZ Consultancy, we provide assistance to find the right and reliable local sponsor for your New Company registration in Dubai or UAE. Contact us:+971 52 544 1248 or Email us: email@example.com
Find out how much it cost you to setup your Dream Business
Other Recent Blogs
When it comes to business-friendly cities, Dubai is at the top of the list. Entrepreneurs from around the world are interested in investing in the city’s growing sectors. If you’re ready to get your business started in Dubai, there are several steps and procedures...
Dubai has a reputation around the world as being a business-friendly city with excellent incentives for entrepreneurs. This is especially true for e-commerce businesses. Now, more than ever before, people are increasing their spending habits online. Dubai is prepared...
Are you thinking about starting a business in Dubai? There is no better time than now! The economy in the UAE is booming, and there are several big events planned in the city for 2021 that are expected to bring in even more business to the area. So, if you’re ready to...
Covid-19 may have stopped events dead in their tracks in 2020, but Dubai is planning to make up for the lost time in 2021. The city has scored a number of major bids for big events that will bring in professionals from all over the world. The Dubai Business Expo 2021...
Are you wondering if your company needs to register for Value Added Tax? Value Added Tax, or VAT, is one of the most common types of tax around the world. More than 180 countries have implemented this tax, including the UAE. While some countries have raised their tax...
The United Arab Emirates is known around the world for its business-friendly environment. Over the years, the country has put new rules and regulations into place to attract foreign investors, and it has paid off big time! Switzerland, the United Kingdom, India, the...
Subscribe to Our Newsletter
We’ll keep you updated on the latest trends and news