LLC Business Setup in Dubai
- Steps in Setting up a Limited Liability Company
LLC Company Setup in Dubai
LLC Company setup in UAE requires a minimum of 2 and a maximum of 50 shareholders, with the liability of a shareholder being limited to one’s share in the capital. It has less start-up cost and full access to the UAE marketplace. They are allowed to do business in their local emirate and also can import and export freely.
Over the years, Dubai being a business hub in the Middle East is the favourite location of investors all over the globe for the formation of company. Most of them prefer to setup LLC Company as it remains diverse in its policy and flexible for business activities.
LLC company in UAE must have 51% of the shares held by a UAE National also called as Emirati Sponsor and the expat investor can own maximum of 49% shares of the company. GCC Nationals can own 100% share of the company and if GCC National has an expat partner then 51% of the share must be owned by UAE National.
Investors can obtain the Trading License in Dubai from the Department of Economic Development (DED) by submitting the required documents and making the fee payment ( For a Trading License in Dubai, LLC Business Setup Cost is AED 24,683 ). AURION will assist you with setting up an LLC Company in UAE at the most hassle-free way.
100% Foreign Ownership in Mainland of UAE
As per the Cabinet Resolution No.16 of 2020, several categories of business license will no longer require a UAE National Sponsor. The resolution states the ‘Positive List of Activities under which 100 percent foreign ownership in companies outside free zone was permitted. It is subject to certain criteria being satisfied. For more details contact us!
Procedure to setup LLC in Dubai
- Select the trade name and activities of the company
- Choose location for the registered company
- Submit the documents required in order to get licence from DED of UAE
- Get approvals from relevant regulatory & Government authorities, if applicable
- Obtaining Trading License, Certificate of Incorporation, Memorandum of Association, Share Certificates, Tenancy Agreement for your LLC Company Setup
- Visas, Labour card and other legal documents process.
Documents required for LLC Company Setup
- Passport copy of the investor
- Passport copy of the local sponsor
- Passport copy of manager
- No Objection Certificate is required, if the shareholder or manager is working in any of the UAE Company
- Copy of Emirates ID (for UAE nationals)
- Application form of registration from Dubai Economic Department
- Attested Tenancy contract for the Office or warehouse or showroom by the planning department and civil defence department of Dubai municipality with location plan
- Attested Memorandum of Association from public notary.
Benefits of LLC Formation in Dubai
- Complete repatriation of capital funds and profits
- No specific minimum amount required for capital
- Investor will get the investor visa
- Any number of offices can be setup by the company in UAE
- Depending on the office space any number of visas can be obtained
- UAE residence visa for the family can be obtained by the investors
- Open global and corporate banks easily
- Only limited restrictions on the activities, more freedom
- Local partner will not be included in the daily business activities.
LLC Company Liquidation Process
Step1: Company’s dissolution notice and appointing a liquidator
- Submission of Registration & Licensing Application Form
- Submit the below documents:
- Official document showing dissolution of the company – notarized minutes of the general assembly meeting to confirm the company liquidation along with a notice of appointment of a liquidator.
- Copy of license of liquidator, a copy of the license and auditor registration certificate and letter issued by the liquidator accepting to liquidate the company along with the liquidator’s documents.
- Registration certificate copy
- Advertise in both newspapers (English and Arabic)
- Company dissolution payment voucher will be issued and AED 2,020 fees for appointment of liquidator.
Step 2: Cancellation of license(s) & cancellation from the Commercial Registration:
- Original copy of the final account of liquidation.
- Cancellation of Establishment Card.
- Cancellation of foreign visa partner.
- NOC concerning cancellation issued by the Ministry of Labor.
- Cancellation of the partner(s) visa.
- Collect business activity-specific approvals (only for business activities that require approvals of government bodies to cancel a license)
- Copy of the notice of the company’s dissolution & appointment of a liquidator to be published in the official newspapers
- Letter from the partner for the agreement of the company liquidation
- Submit all the above documents along with the documents mentioned in the first step.
- A payment voucher will be issued to pay the deregistration fees of AED 3,020.
LLC Company Liquidation Cost
|DESCRIPTIONS||FEE in AED|
|Liquidation Audit Report & Confirmation of Appointment Liquidator||AED 3,000|
|Company Liquidation Certificate – Initial Approval (DED)||AED 2,020|
|Final Approval (DED)||AED 3,030|
|Arabic and English Newspaper publication – (45 days)||AED 1,575|
|Aurion professional inclusive 5% UAE VAT||AED 5,250|
AURION assist in completing the procedure of LLC company formation as well as LLC company liquidation in UAE.