Simply put, it’s the least complex business structure known. Unlike other business forms, Limited Liability Company has a most flexible structure. It is a legal form of company that offers limited liability to business owners in many jurisdictions. LLC Company set up has become one of the most widespread businesses in Dubai due to its advantages over other business structures. One reason for the success of this type of business structure is the differential profit sharing arrangements.
A Limited Liability Company takes a minimum of 2 and a maximum of 50 members who have limited liability for their shares in the capital. This type of business structure is often chosen by companies with foreign partners since it is the only option left to have the maximum legal ownership i.e. 49%. Dubai government has made it mandatory to have a local partner in the LLC that holds 51% of total shares of a company. One advantage of this form of business is that shareholders can have complete control of management in spite of having only contributed some percent of total resources required by the owners to start a company or business.
LIMITED LIABILITY COMPANY SET UP IN DUBAI : ADVANTAGES
There are many benefits of Limited Liability Company set up in Dubai. Some of them are
TAX SAVINGS AND FLEXIBILITY
When it comes to flexibility, LLC tops the business structure lists. LLC provide a flexibility of being taxed as a pass-through entity or as a C – corporation.
Selling the shares of company or ownership can be generally sold to parties without disruption of the business process.
Another benefit of investing in a limited liability company in Dubai is that there are no specific minimum capital requirements.
YOU BECOME PARTNER
In addition to the above advantages, an investor becomes the partner of the company and gets the visa and enjoys an investor’s status in the Emirates along with his/her family. As a partner, the investor can also commence branches. They have the authority of maintaining and managing the business operation without any interference of local partner. Also, the assets are created in the company name and not in the name of the local partner.
EASY TO OPEN A BANK ACCOUNT
It is also very easy to open global or local corporate bank accounts and can avail all credit facilities.
LIMITED LIABILITY COMPANY SET UP IN DUBAI : LICENSING AUTHORITIES
Licensing authorities in UAE changes from Emirate to Emirate. Here is the list of licensing and registration authorities for the company set up in Dubai and other emirates.
Department of Economic Development- Licensing authority of Dubai
Department of Economic Development- Licensing authority of Abu Dhabi
Economic Development Department- Licensing authority of Sharjah
Municipality/ Chamber of Commerce- licensing authority of other Emirates
LIMITED LIABILITY COMPANY SET UP IN DUBAI : GETTING PROFESSIONAL HELP
If you are looking for LLC Company set up in Dubai, choosing a professional help will be beneficial for they are aware of ins and outs of the company set up services and legal formalities involved. Al taresh Consultants work closely with clients and have expertise in handling all the requirements of the company set up procedures and process. Professionals at Al taresh work tirelessly from start to finish and assist clients with plans, strategies and ideas. We provide hassle free services such as:
- Getting clearances and approvals from various departments
- Getting complete necessary officials documents such as drafting MOA
- Identifying local partners
- Assisting you in opening bank accounts
- Helping you in finding proper office location
Get in touch with us to know more about company set up in Dubai.