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How To Start An LLC in Dubai(Limited Liability Company)

The significant number of business registration and license transactions registered in March 2020 alone shows that entrepreneurs are starting their firms in the UAE. Almost 18,000 transactions were reported in that month, and 2,523 new licenses were issued by the Dubai Department of Economic Development, resulting in the creation of almost 6,000 jobs. 58% of these licenses were for professionals, while 39.3% were for businesses. Start an LLC in Dubai is the most reputable and well-liked licensing formation options in Dubai.

Advantages Of Starting an LLC in DUBAI

    Low initial setup costs

    An LLC is an appealing choice for first-time business owners due to its reasonably priced initial license costs, which can start at AED 12,000.

    Protection

    Because an LLC limits its owners’ responsibility to the sum they put in the company, it offers personal protection to business owners. In the event that the business encounters problems, the owner, entrepreneur, or shareholder will not be held personally accountable.

    Wide range of  business activities

    One benefit of LLCs is that they can engage in a variety of legal commercial ventures. Currently, more than 2,500 industries, from accountancy to agricultural, are permitted by the Dubai Department of Economic Development.

    Ability to do business anywhere in the UAE

    Unlike licenses for free zones, LLCs are allowed to open offices anywhere on the UAE mainland and engage in direct business operations there.

    Branching  of LLC is simple

    LLCs make it possible for business owners to expand their presence in the UAE by allowing both direct trading in the local market and the construction of branch offices across the nation. An efficient strategy for growth and diversification is to have an LLC license.

    Multiple shareholders available in LLC

    When establishing an LLC in Dubai, up to 50 shareholders may participate. These owners may be people, corporations, or a combination of both.

    Local Sponsor is not mandatory to some activities

    The demand for a local sponsor, the Dubai Department of Economic Development necessitates securing a local sponsor that has a 51% share in the company when founding an LLC there. It’s crucial to keep in mind that the local sponsor has no influence on the day-to-day management of the company. But some activities are exempted from maintaining a local sponsor. 

    Start an LLC in Dubai-simple steps as follows

    1. Select the business activity of your LLC
    2. Finalize and register your LLC name
    3. Submit required documents
    4. Obtain initial approval from DED
    5. Arrange physical office space for you LLC and sign rental contract
    6. Notarize MOA(Memorandum of Association) of LLC in Dubai
    7. Submit the final license application and remit the government fee.
    8. Receive LLC license
    9. Register for VAT
    10. Open corporate bank account for your LLC

     

    LLC formation in Dubai requires professional knowledge and advice from an experienced consultant, like us, to avoid legal problems in the future. Additionally, opening a corporate bank account in the UAE is a complex process that demands experienced professionals and good relationships with banks, which we possess.Contact us for an hassle free LLC formation and corporate bank account opening.

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