LLC Formation in Abu Dhabi
As Abu Dhabi’s economy is in a booming stage with major new projects announced in the oil, gas and construction industries, as well as the tourism industry,an Abu Dhabi LLC is an ideal vehicle through which to bid for tenders and tap opportunities in these sectors.
A limited company may be formed by a minimum of two and a maximum of fifty persons whose liability is limited to their shares in the businesses capital. Most companies with foreign partners have opted for the Limited Liability Company, due to the fact that this is the only option that’ll give maximum legal ownership i.e. 49% to the expatriates for a trading license. As it is compulsory to keep one UAE national as a partner in the LLC company, prospective investor has to choose one UAE national (sponsor) as a partner in the company.
Advantages of a Abu Dhabi LLC
- Abu Dhabi LLC formation is a suitable path for international entrepreneurs to secure lucrative contracts in Abu Dhabi.
- Using an LLC, it is possible to obtain a UAE trade license from the Abu Dhabi Chamber of Commerce and Industry, obtain local visas, rent Abu Dhabi business premises and open a local corporate bank account.
- While foreign equity in the company may not exceed 49%, profit and losses will be shared in a ratio different to that of the share capital ratios
- An Abu Dhabi LLC which exports national industrial products is exempted from any taxes or export fees.
- No specific minimum capital requirements
- The investor becomes the partner in the company.
- The investor gets the investor visa under which he/her enjoys an investor’s status in Abu Dhabi along with his/her family.
- The investor can create more branches at different places for his activities.
- The investor can run the business without the day-to-day interference of the local national partner.
- The assets and capital created will be in the name of the company and not in the name of the local national partner.
- Only a few restrictions on the activities of a Abu Dhabi LLC
- Easy to open global corporate bank accounts following Abu Dhabi LLC set up
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