LLC Company in Dubai

For protecting your personal assets from the company’s liabilities most of the business people choose Dubai as the city for their new business startup. When a LLC is forming in Dubai it has own benefits to the business people in many ways. High security is the basic thing that every business person will need for his/her future sake on business.

By the Federal Law it is being evaluated that there are seven business types are started in Dubai and six in other parts of UAE. Out of these seven in Dubai most preferred is LLC company formation. Thus the emerge of LLC formation became popular after certain period of time.

LLC formation can be implemented with the number of shareholders from minimum of 2 to maximum of 50 and their liabilities are limited to the shares of the capital investment.

The ownership percentage for the valuable investors for this LLC  formation is like Local sponsors who are currently doing business in UAE must have 51 percentage and the foreign Investors have 49 percentage of ownership. Moreover the authorization of the company is gained by either the local sponsor or the foreign shareholder.

When a LLC is formed in the local market its company shares are not open for the public subscription and also the company should have a long term business relationship to the market.

As far as you have decided to start up this type of company formation then the way to get a local sponsor is easy in a city like Dubai. There are plenty of sponsors in around Dubai for offering an ownership to the company on direct basis.

You can form a LLC company in Dubai with 6 steps as follows:

• For your business the selection of a commercial name is essential undergoing the consideration of the type of business activities through submitting the company details to the Department of Economic Development to the Licensing Department. There your company name will be approved by the department.
• The important document you require for the company formation is the Memorandum of Association (MoA) so that must be attested by the Notary public in the Dubai courts.
• Approval of the Dubai Economic Department are required to enter in the commercial register.
• Once you obtained the approval by the Dubai Economic Development then the formal entry to the commercial register will be made for the publication of MoA in the Bulletin of Economy. For the rest of the process Commerce ministry is followed.
• Company license is then issued by the Dubai Economic Department
• The last step for the company is to get registered to the Chamber of Commerce and also the Industry of Dubai.