LLC Company Formation

Owing to the myriad benefits it provides, an LLC (Limited Liability Company) is one of the most preferred business structures for foreign investors in the UAE. As the name implies, a Limited Liability Company in UAE is a business entity owned by a minimum of 2 shareholders that are not personally liable for the company’s debts. The maximum number of shareholders can exceed up to 50 in an LLC. One of the key advantages of LLC luring foreign investors is that it offers personal liability protection and flexibility to the investors. This implies that if the company undergoes loses, every shareholder’s personal assets such as bank account and real estate are protected and at the most, the owner can only lose his investments. Additionally, the shareholders of an LLC company in UAE can take advantage of the investor status by applying for an investor’s visa. Succinctly, an LLC in UAE is business structure offering the best of both worlds combining limited liability protection perks of a business and tax efficiency and business operational flexibility of a partnership. If all the legal procedures are done in time, it barely takes a week with an initial estimated cost of AED 10,000 to start an LLC company in UAE.

 

Why should you set-up an LLC company in UAE?

If you are still having second thoughts about starting an LLC company in UAE, the following benefits will convince you on why setting up an LLC in UAE is an optimal business decision.

  • Zero paid upfront share capital: You can start an LLC company in UAE even if you are on a shoestring budget as the laws are investor friendly enabling you to start a business with no share capital.
  • No requirement for bank deposit certificate and auditor certificate to start an LLC company: The capital requirement law was scraped on the 10th of August in 2009 making LLC company formation in Dubai less troublesome for the foreign investors.
  • Exempt from the standard 5% customs duty on imported goods: All LLC companies in UAE are exempt from the customs duty saving your business costs.
  • Option to apply for multiple visas:As a foreign investor in an LLC company, you can apply for investor visa which has innumerable perks including temporary residence, right to establish your business easily in UAE or invest into an existing business, authorization to live and work in UAE for maximum a period of three years.
  • Setup the business in the desired location of your choice:You can set up an LLC company in any location in the mainland. There is no restriction on the location of the business set-up from the government.
  • Sponsor any number of dependents:You can sponsor innumerable dependents as shareholders of an LLC company in UAE.
  • Expand your business through branch offices: You can have the opportunity to expand your business and open several branches in various emirates if you own a share in an LLC company.

 

 

Documents you require for LLC company formation in UAE.

  • Attested and notarized passport copies of all the shareholders and managers of the business.
  • A NOC letter from the local sponsor if any of the partners or the manager has a UAE residence visa.
  • An application for LLC company registration from the Department of Economic Development (DED).
  • Trade name reservation.
  • Initial approval letter from the DED.
  • Attested photocopy of the tenancy contract for the office along with the location plan.
  • Original copy of the Memorandum of Association (MOA) authenticated by the Notary Public.
  • Bank reference letter for each shareholder.

Please note that all documents must be attested and notarized by the relevant authorities in the home country of the applicant. The documents must be translated in Arabic by an official translator before submitting to UAE authorities.

 

Procedures to follow for LLC company formation.

  • Select a suitable legal structure of your business that aligns with your business objectives.
  • Finalize your trade name and the business activities and specify it in your registration application.
  • Select the location of your choice to establish your LLC company.
  • Draft and Compile the documents required to obtain a trade license from DED. Kindly note that a few business activities require additional approvals from the relevant government authorities.
  • Arrange for office space to run your business operations.
  • Process employee visas, labor cards, and other legal documents

 

 

How can Good Solution Businessmen Services help you?

Given the ongoing dynamics, companies often find LLC company formation process a daunting task.

As a trusted business set-up company with global customers, we guide the companies to overcome complex business challenges through a potent combination of experience, high-profile networking and adept team of experts. We demonstrate cost-efficient support and guidance to our customers regardless of the organization size and budget. Using our comprehensive experience and knowledge of the laws and procedures, SME’s and entrepreneurs can find new effective ways to set up their business with a competitive edge. We offer assistance in every phase of business setup and our functions include the following:

  • Obtaining approvals and clearances from various departments.
  • Drafting MOA and all the legal documents.
  • Assistance in finding local sponsors.
  • Help in opening corporate bank accounts.
  • Help n finding an affordable and apt office location according to the business requirement.

Get one step closer to your dream of owning a successful business in the UAE.

Look no further and Contact us now for your free consultation