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Formation of a Limited Liability Company

Dubai has always been a hub of investors due to its tremendously growing economy. Providing a platform of LLC company formation in Dubai, many entrepreneurs have been taking UAE a profit-making country. LLC company formation gives the flexible mode to share profits making the vision of the company clear in terms of investing.

The UAE national can fix a certain amount for LLC companies depending upon the percentage of profit. The investors will be responsible for the share of capital that the company.

Formation of a Limited Liability Company

LLC company thisThe formation of the LLC company lies in the category of commercialization. It is very easy to form a company with minimum 2 and maximum 50 shareholders as per license. The liability of the shareholders is according to the shares invested in the company. The 49% of the shareholders can be foreigners and 51% shareholders can be from Dubai itself. There is no minimum capital requirement to establish LLC company as minimum capital requirement law was abolished in 2009. As per the LLC company formation license, partners can appoint a manager to run a company. This is to be noted that minimum share to get Partner Visa is 24% in the terms of LLC license.

Benefits of LLC Formation

  • The foreign equity does not exceed more than 49%, therefore, profit and losses can be shared at a particular ratio which is different from share capital.
  • It is the easiest way to form a commercial company in Dubai.
  • It offers a balance access to grow within UAE economy.
  • It is easy for the foreign partners to manage a business without the interference of local national partners.
  • The assets and capital will be in the name of the company not in the name of the local partners. Thus, giving an authentic base to the LLC.

LLC formation company

  • It is easy to open global/local corporate bank.
  • A company can apply for credit facilities.

Documentation Required for LLC in Dubai:

Following are the list of documents required to form an LLC in Dubai.

  • A photocopy of the manager's passport
  • A photocopy of an investor's passport
  • The trade name reservation for LLC
  • An MOA that is duly signed by the public notary
  • Initial approval from Dubai Economic Department
  • A photocopy of a local sponsor’s passport
  • Permission from the court for the applicants under the age of 21

Source: prodesk.ae

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