Mainland Company Formation in UAE
The UAE is also a trading hub. Its a tax haven having a strong network of banks, business, company setup and international bank opening. It’s also among the safest countries in the world and is the center of attraction for the investors. We also always help the investors to setup a Mainland Company in UAE with LLC without ambiguities and with easy approach.
The UAE is also a famous business horizon. And for the new and existing investors to setup a Company, however it is strict towards its rules and regulations for the ease of investors. According to the UAE laws, the profit or loss resulting from the enterprise must be divided between the partners. This Article also states that a single person can also incorporate a Company according to the law of commercial Company in UAE.
Mainland Company in UAE is also famous for its limited liability for the investors. They also need a minimum of 2 shareholders and up to 50 for opening a LLC company. However, The Shareholders are separated in two.
One is a Primary shareholder.
The company is assigned to the UAE National sponsors with -51% Ownership.
The other one is the Secondary (49% ownership of the company) shareholder. The Secondary shareholders can al
so remain with the foreign investors.
There are so many types of Company structures in the Mainland of UAE. However company requirements, business objectives, taxes, international banking can be the major concern of the investors. We will help you with expert business consultants to choose the best option for your business and setting up of Company’s structure in the Mainland of UAE.
A Civil Company is for the professionals such as doctors, lawyers, engineers and accountants.
PRIVATE SHAREHOLDERS COMPANY
It requires a partnership of 2 – 200 people for opening a private shareholding company. A minimum capital of AED 5,000,000 must be invested by each partner for opening the Company and establishing a strong economy of that.
PUBLIC SHAREHOLDING COMPANY
This is a very favorite and most demanding Company in which capital is divided in to transferable shares of equal value.
Sole proprietorship is a business owned by an individual, not a company. He / She will be 100% responsible for all business obligations, financial commitments, all the activities, loss and profit. He / She keeps 100% of all the profits.
ONE PERSON LIMITED LIABILITY COMPANY
The One Person Company has some specific advantages over the Sole Proprietorship Company. It is a legally recognized business entity in the UAE since 2003. It empowers an individual, the promoter of the business, with full control on the affairs of the company and at the same time, it limits the owner’s liability of contributions to the business. The individual will be the only director as well as the shareholder.
When two or more people share the ownership in a single business is called Partnership Company. In such kind of companies every aspects of the business profit, loss must be administered among all the partners depending upon the number of shares decided between them.
SIMPLE LIMITED PARTNERSHIP
In Simple Limited Partnership two partners must be involved. One is called general partner and the other one is called the limited partner. All the liabilities of the company to the extent of all their personal and business assets is the responsibility of the general partner. The limited partner is only liable for a share of company liabilities equal to their share of the company capital.
LIMITED LIABILITY COMPANY (LLC)
There are mix elements of partnerships and corporate structures in LLC. In LLC 2 – 50 investors can be involved. Each partner is liable just to the extent of his/her shares in the Company’s capital. LLC has an advantage to change any other legal form unlike public shareholding organizations.
Dubai is considered the business hub in the Middle East and is among the most favorite locations for investors to also build a company over the decades. Shareholders also prefer to set up LLC Company as it attains variety in its policy and flexible for business activities.
The actual process of the LLC Company in UAE however, must have 51% of the UAE Nationals which is also called Emirati Sponsor. Even the ex-pat investors must have 49% shares of the company. GCC is different from the LLC Company as in GCC the company shares must be 100%. However In the case of an expat partner of the GCC, the shares are 51% which also must be owned by UAE Nationals.
The investors can also get a trading/professional license in UAE mainland by submitting the required documents and fees from the Department of Economic Development (DED). Time Zone Business Management Consultancy will help the investors in setting up a LLC Company in UAE in the easiest and fast-way
Procedure to set up Mainland Company LLC in Dubai
- Choose the name and activities of the company.
- Selection of the location.
- Submission of the required documents for getting a license from DED of UAE.
- Approval of the company from Government and relevant authorities, if applicable.
- Obtaining Trade License, Certificate of Share, Tenancy Agreement, Certificate of Incorporation, and Memorandum of Association for LLC Company setup.
- Process of getting a visa, legal documents, and Labor card.
Documents required for Mainland Company LLC Company Setup
- Investors’ passport copy
- Local sponsor’s passport copy
- Manager’s passport copy
- NOC (No Objection Certificate from sponsor is compulsory for those shareholders or managers who are working in any of the UAE Company)
Representative office is not a business itself rather it is a business activity that a branch can conduct. It is for promoting, incorporating and marketing the business of the parent company. For a representative office, one UAE national is required
Dubai SME was created and developed by the government to support the small and medium enterprise (SME) sector by providing resources, finance, and promoting the growth of their business. The goal is to promote innovation and leadership in the SME sector. SMEs are defined by number of staff and the annual turnover of the enterprise in trading, manufacturing and services sectors. A company with six to 50 employees and a turnover of Dh50m in the trading sector will be considered a small company.