Limited Liability Company Formation
Limited Liability Company (LLC) is the commonest sort of company found out in Dubai. In an LLC you can have several numbers of Owner from 2 to 50 and with the liability of a shareholder is limited to one’s share within the capital. An LLC may conduct any sort of commercial activity except banking, insurance, or money investment. An expatriate shareholder may own a maximum of 49% of the shares of an LLC in Dubai, with the corporate requiring an Emirati local sponsor, also mentioned as a sleeping partner, with 51% of share in it. However, profit and losses are often shared at a ratio different from the share capital. Trading LLCs are allowed to hold out business in their local emirate also on export and import freely.
The government body in Dubai that authorized and issue the license is Department of Economic Development (DED) to LLCs and is liable for classifying and regulating the kinds of economic activities which will be undertaken by such a corporation.
- Trade name of the corporate
- Registered office location
- Names, nationalities, and addresses of the shareholders
- The share capital of every shareholder
- Names and nationalities of the corporate managers
- Scheme of distribution of profits and losses, which can not necessarily be within the same proportion because of the share capital
When it involves company incorporation in Dubai, an LLC may be a commonly preferred option, suiting most businesses. Branches Management Consultants help corporates and entrepreneurs found out their business in Dubai. Our team of business consultants can assist you out with company registration, licensing, taxation, accounting, bookkeeping, and company secretarial services.
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