March 5, 2015
When reviewing the various business types available in the UAE, many business owners choose an Limited Liability Company Setup in Dubai. An LLC is a good way to separate your personal assets from your company’s liabilities, offering protection for your personal assets in the event that something may go wrong against your business. For this reason, it tends to the choice for entrepreneurs setting up their companies.
There are several types of business entity that may be established in Dubai and in the 6 other emirates of the UAE. Of these, the LLC is the one most preferred by individuals planning on setting up a business in Dubai.
The general rule for LLC Company Setup Dubai typically starts with the number of individuals that will comprise the company. An LLC can be formed by a minimum of 2 and a maximum of 50 shareholders whose liability is limited to their shares in the businesses capital.
Additionally, 51% participation by a UAE national is the general requirement for an LLC company setup in Dubai. Therefore, the normal shareholding pattern for an LLC would be:
- 51% Local sponsor (Partner)
- 49% Foreign shareholder(s)
CREATIVE ZONE can help you setup your business in Dubai with a trade license from the Dubai Department of Economic Development (DED) and also assist with providing local sponsorship.
In LLC company setup in Dubai, the company shares are not open for public subscription. An LLC license is appropriate for being able to offer a structure fit for a product/service that aims to build a long-term business relationship with a local market.
Benefits of LLC Company Setup Dubai:
- No specific minimum capital required.
- No taxation.
- The liability of the company is limited to the company only and therefore if any loss arises for the business, the partners are liable to the extent of their share capital only. Their personal assets are not attachable.
- A Dubai LLC offers access to Dubai and the UAE economy and with this type of license, trade licenses can be issued from the Dubai government.
- It is possible to obtain a license for almost all business activities.
- It is hassle free to open global corporate bank accounts following an LLC company setup.
Take your own first small step and contact the business setup specialist team at CREATIVE ZONE for more information: +971 4 567 7333 or email us on firstname.lastname@example.org