LLC license for Company Formation

LLC license for Company Formation

Limited Liability Company (LLC) is most common form of business in UAE with the fact that this is only the option which gives you maximum legal ownership i.e. 49% to expatriates for a local business. It is mandatory to have local sponsor or sleeping partner with 51%+ of share holding. Limited Liability Company can be formed by a minimum of 2 and a maximum of 50 shareholders whose liability is limited to their shares in the businesses capital.

The typical annual Sponsorship fee can run from US$ 4,200 per year for a small shop to several millions US Dollars for a large multinational company. Though local sponsor is sleeping partner who is enjoying 51% + still him is the individual responsible for left behinds by the absconded business owners.

These Are The Risks To The Sponsor:

  • If you default, then the Sponsor is liable for any checks you have issued and for any employees on your visa, since technically he is the 51% partner!
  • If you leave the country, he has to find a way to cancel the visas of your employees and send them home
  • As well as close your company and bank accounts.
  • The features of our service in LLC set up
  • Getting approvals and clearances from various departments.
  • Drafting MoU of association and other necessary agreements.
  • Help to bring local equity.
  • Finding local Partners.
  • Helping to open bank accounts.
  • Assisting to find proper office location.
  • Handle other document formalities.

The Investor’s Benefits on LLC Trade License:

  • The investor gets special visa privileges for his/her family.
  • The investor can commence branches.
  • The Investor can enjoy practicing business without interruption of sleeping partner or sponsor.
  • The paper and assets would belong to company not local partner.
  • The investor can avail credit cards and can open bank accounts.

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