Limited Liability Company
Limited Liability Company (LLC) is the most common form of business in UAE. A Limited Liability Company can be formed by a minimum of 2 and a maximum of 50 shareholders whose liability is limited to their shares in the business capital.
If you are an expat planning to establish an LLC in UAE, then a local agent is mandatory. 51 % of the business will be owned by the sponsor, hence choosing the right partner is crucial. Local agents usually act as sleeping partners and won’t be involved in the running of your business. They help you deal with ministries and the government for various paperwork.
What makes LLC unique and one of the most preferred business types is the great deal of flexibility it provides. An LLC company can trade anywhere in UAE and GCC.
Advantages of an LLC Company
An LLC can conduct any type of business activity excluding insurance, banking, and investment. There aren’t any restrictions on the number of visas that can be obtained. The investors of an LLC company can avail investor’s visa under which they can get investor status in the Emirate along with their family.
An LLC is exempted from paying the standard 5% customs duty on imported goods. Also, restrictions are not imposed on real estate ownership.
Company Incorporation Which Requires Special Approvals and Licenses
- Tourism activities
- Health Care activities
- Architectural and engineering consultancy
- Shipping , freight forwarding and logistics activities
- Companies in Dubai World Communities (Trakhees)
- Educational services
LLC Incorporation Services
HLB HAMT’s Consultants closely interact with clients to help them form their company in UAE, from the initial to final phase and also assists them with strategic ideas. We provide assistance in;
- Getting approvals and clearances from various departments,
- Drafting Memorandum of Association and other necessary agreements
- Finding local partners
- Opening bank accounts
- Finding a proper office location
- Handling other documentation formalities
The span of time to form a Limited Liability company will be approximately 1-2 weeks from the date of receipt of all required documents.
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