A Limited Liability Company (LLC) is a company that
syndicates the structures of a corporation and partnership type business
structure. Dubai has a high level of independence and as we know, is well-known
for its unbelievable skyline, beaches and trade and business. Working
conditions are entirely different to that of other countries and if you have a
plan to invest there you must be aware of the terms and conditions of
Sponsorship.
Structure and formation:
The Limited Liability Company can be formed with least of 2
and a maximum of 50 stakeholders and the liability of shareholders are limited
to their own share in the company capital. These types of companies are
restricted to perform some kind of business activities like banking, insurance
or money investment.
Sponsorship:
First, you need to know about the sponsorship before you
going to start a business in Dubai. If you are an investor and wish to
incorporate in Dubai, must have a Sponsor. A Sponsor is any UAE national, man
or woman, or any UAE owned corporation who is willing to take on the
accountability of bringing you into the country such as an investor, employee,
or Tourist.
Follow these procedures for LLC Company Formation in Dubai
- First Choose an appropriate legal structure of the business then select the name and the activities involved in your application.
- After choosing proper location for the proposed venture, submit the mandatory document to get the license from Deportment of Economic Development of UAE.
- For some special business activities, get supports from relevant regulatory & Government authorities.
- Get office / Virtual Office for the operations and then obtain Trade License, Certificate of Incorporation, Memorandum of Association, Share Certificates, and Tenancy Agreement.
- Finally processing visas, labour cards and other legal documents.
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