Starting an LLC sounds wise to many business persons as it can guard their personal assets from the liabilities of the company in the case of liquidation of the business. A limited liability company can be formed by a minimum of two and a maximum of 50 persons
2. Limited Liability Company ( LLC)
Starting an LLC sounds wise to many business persons as it
can guard their personal assets from the liabilities of the
company in the case of liquidation of the business. A limited
liability company can be formed by a minimum of two and a
maximum of 50 persons. To comply with the provisions of
the UAE Companies Law, a UAE national act as your “Local
Sponsor". The partner’s liability is limited to their share
capital in a Limited Liability Company. This is the most
widely used commercial entity for companies with foreign
ownership wishing to conduct commercial activities and trade
in the UAE.
3. Benefits
• Profits and losses can be shared irrespective of the share capital
ratio.
• New branches can be opened by the investor.
• Limited restrictions on the activities.
• No minimum capital requirement.
4. Professional Company
Professional company assures 100% foreign ownership. Sole
proprietorships or civil companies are permitted to engage in
professional or artisan activities but the number of staff members
that may be employed is limited. To comply with the UAE Law, an
Emirati must be appointed as local service agent, but he has no
direct involvement in the Business Consultancies. The Local
Service Agent Appointment Contract shall regulate the relationship
between the two parties.
5. Branch /Representative Office
The law allows a foreign company to exercise its main activity in
the UAE by opening a branch or a representative office. The
foreign company which opens a branch in the UAE can perform the
activities for which it is licensed. A Branch office is a lawful
extension of the parent company and is permitted to secure contracts
and conduct business activities, which are similar to those of its
parents company subject to the approval of the Ministry of
Economy. Representative office can practice only promotional
business for the products and services provided by the parent
company.
6. Some of the advantages of instituting a
company in UAE with our assistance:
• Low startup cost.
• Hassle free procedures.
• Transparent dealings.
• Flexible payment terms.
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• We undertake negotiations and correspondence with the government
departments to establish various types of licenses such as
Professional, Commercial, Industrial, Branch Office, Representative
Office, Offshore and Free Zone licenses. Our team of local partners
and service representatives ensure that all the requirements of the
clients are catered to with highest professional efficiency.