Dubai is one of the most advanced, well-developed, and populated cities in the UAE. On its path to being a smart city, it is considered one of the most attractive and economical destinations for doing business. This is why one of the most common business choices in the country is a Limited Liability Company. Moreover, LLC company cost in Dubai is comparatively lower than that of other business forms.
If you are also interested in an LLC company set up in Dubai, read ahead to learn more about the same. Also, know the process and LLC company cost in Dubai.
What Is A Limited Liability Company?
A Limited Liability Company is a legal business structure that provides personal liability protection to a corporation. The liability of the company is limited to just the company or up to the shareholder capital of the company. However, 1 to a maximum of 100 shareholders can do an LLC company set up in Dubai. Note, that all the members of the company have limited liability to their shares in the business capital. Also, according to the new law announced in June 2021, foreign businessmen can have 100% ownership of their companies.
The Department of Economic Development (DED) government is the government body that issues licenses for the LLCs in Dubai. Moreover, The DED is accountable for regulating the types of business activities that may be undertaken. An LLC company setup in Dubai does not have any minimum share capital requirements. Furthermore, LLCs have a fluid management structure, offer liability protection, and a few tax benefits as well.
Why Should You Do an LLC Company Set Up Dubai?
There are a few standard advantages of an LLC company formation. However, if you do an LLC company set up in Dubai, you can enjoy greater advantages. Therefore, most entrepreneurs from across the world prefer going for an LLC company setup Dubai for the following advantages:
- An LLC offers the advantage of limited liability to the shares in the capital.
- By forming an LLC in Dubai, you can enjoy the freedom to conduct any business activity except for banking, insurance, and investment.
- You have legal permission to trade anywhere in the country including the free zones.
- There is no restriction to renting an office space only in Dubai. You can rent an office anywhere in the country.
- If you choose to do an LLC company set up in Dubai, you can obtain multiple visas as per the requirement.
- The DED has officially waived off paid-up capital requirements on LLCs.
- Enjoy the easy process of opening a bank account for the company.
- Get international recognition for your company.
What are The Major Requirements to Set Up An LLC in Dubai?
Although the process to set up an LLC in Dubai is straightforward, the paperwork can be tedious. It is one of the major steps to start an LLC company set up, so be vigilant while arranging the same. However, if you are new to the process, you must reach out to company setup experts. They will help you with the paperwork and guide you at every step of your LLC company set up in Dubai. Though, to make it easier for you, we have listed down important documents required for an LLC formation in Dubai.
- Notarized copy of MoA and AoA
- Trade Name Reservation Certificate.
- No Objection letter from your local sponsor.
- Copy of your Dubai residence visa.
- Copy of your passport. Also, copies of the passports of your business partners.
- Certificate of Incorporation.
- Approval for business activities from the DED.
- National ID
- A copy of your tenancy contract and unique Ejaricode.
- Location plan and property maps.
- Board of resolution of your company.
- Commercial Register Certificate
- Initial Approval receipt
- Company Registration form from the DED, duly signed by all the business partners.
- Business license application form.
How to Set Up an LLC in Dubai?
The process of setting up an LLC in Dubai is straightforward. However, it is time-consuming. We advise you to take help from company formation experts to make the process seamless for you. Follow the given steps to complete your LLC setup in Dubai.
- Decide your business activities. You can choose from 2000 plus business activities offered by the UAE government.
- Choose and reserve a suitable name for your company. Make sure it does not include any offensive words and complies with the rules set by the DED.
- Apply for initial approval from the DED. Once you get approval, your company will receive a commercial registry.
- Draft an MoA (Memorandum of Association) and LSA (Local Service Agreement) with a UAE national. Get it signed by all the shareholders in front of a public notary.
- Find a suitable location for your company and rent an office. Moreover, register it with Ejariand generate your tenancy contract.
- Finish the paperwork and submit all the documents to DED for the final inspection.
- If everything seems fine, the DED will grant your business license in a matter of 2 to 3 working days.
- Make sure to pay the required fee to the government within 24 hours of receiving your license.
- You are all set to start your LLC in Dubai and conduct your business activities easily.
What is the LLC Company Cost in Dubai?
The cost of an LLC setup can be high priced and vary according to different locations. However, the LLC company cost in Dubai is comparatively low than that of other business forms. The registration for an LLC company in Dubai can cost you anywhere between AED 25,000 to 27,000. Also, an investor’s visa for an LLC company in Dubai can cost you approximately AED 4,000 to AED 6,000. And an employment visa can cost you anywhere near AED 7,000 or less as per your business activities.
Set Up Your LLC company in Dubai at A Low Cost!
Among all the other business forms, LLC is the most common and popular legal structure to do business in Dubai mainland. The process of an LLC company setup in Dubai is simple but can be time-consuming. To make the process seamless, connect with business setup experts at Shuraa Business Setup. Our expert business consultants will help you at every step of the process and also acquire your business license at comparatively lower rates. From paperwork to submissions and permissions till acquiring your business license, we will take care of it all. All you need to do is, call us.
Moreover, get to grow your business with the right advice. You can reach out to our experts at +971 44081900 or drop a WhatsApp message on +971 507775554. For assistance via email, please write to us at info@shuraa.com.
