LLC company setup in Dubai is among the most popular legal structures, thanks to the countless benefits of opening such a company. You enjoy several tax exemptions alongside complete repatriation of capital gains when you set up an LLC in the Emirates.
All you need to do to launch a limited liability company in Dubai is collaborating with the business consultants at Shuraa. We offer our expert guidance to foster risk-free business incorporation in Dubai.
How to Launch an LLC in Dubai?
1. Finalize your Business Activities
You must have approvals for every activity that you carry out in Dubai. You need to list them down and share them with the concerned authority (based on your business zone) to gain consent. Remember, it’s imperative to get all these activities covered in your trading license.
You can obtain external approvals to acquire special privileges as well. Business investors can get in touch with the LLC formation experts at Shuraa to launch their dream venture in the UAE at nominal costs.
2. Trade Name Reservation
Be it a large enterprise or a budding startup – each legal entity needs to reserve a trading name in Dubai. The name you choose should reflect your LLC’s business nature. Moreover, it shouldn’t have a resemblance with an existing firm or brand.
You should include any derogatory terms or words that are demeaning in any sense. Investors need to pay an additional fee for using a foreign name as their official trading name. Don’t forget to use a person’s full name if you want that as your legal business name.
You may like it: Get Dubai Multi Commodities Centre Crypto License in Dubai
3. Choose your Preferred Business Location
Opening a limited liability company in Dubai is a lucrative business venture for several reasons. But, where do you wish to establish your LLC? You can choose the mainland region if you want hassle-free access to the world-famous local marketplace of Dubai.
A free zone establishment offers lenient trading laws and caters to your specific business needs. Therefore, it’s imperative to understand the pros and cons of each business zone before coming to a conclusion.
4. Acquire a Business License
A business license legitimizes your LLC in the UAE. It’s the legal consent to carry out all the business activities covered in your trading license. You can apply for a commercial, professional, industrial, and tourism license for an LLC company set up in Dubai.
You need to approach the DED in case you’re opening your venture in the mainland region. Business investors can get in touch with the concerned economic departments in case of a free zone or offshore establishment.
5. Manage Visas
The next step is to procure visas for yourself and your family members. This ensures everyone’s safe stay in Dubai and empowers you to think in the direction of business expansion. You can connect with the concerned governing body and request the desired visa permits.
The process doesn’t take much time if you fill in the right details and provide the mandatory documents to the authority for their examination. In addition, the department will get back to you in case of any discrepancy.
6. Open a Bank Account
A corporate bank account helps you manage all the monetary transactions and is used for several official purposes. Therefore, always choose a reliable bank that offers flawless banking services.
The business experts at Shuraa help you find the ideal bank for your LLC. We understand your requirements, transactional frequency, etc., and come up with our curated list of banks that match your business model.
Documents Required to Set Up an LLC in the UAE
The UAE’s government follows a no-compromise policy with regards to the paperwork required to launch a company in Dubai. It’s imperative to follow such a practice to ensure a crime-free working environment for all the investors. Here’s a curated list of documents you must have to open an LLC:
- Trade name choices (3-4)
- List of business activities
- Passport copy of the shareholders
- Entry stamp or visa page
- Passport size photograph as per the protocols (size, background color, etc.)
- Initial approval receipt and documents submitted previously
- Duly attested Memorandum of Association (MoA) for all types of companies
- Approvals from other concerned government authorities
- Formal agreement letter with the local sponsor/local service agent
Benefits of Opening an LLC in the UAE
Listed below are a few of the many benefits of starting an LLC in the Emirates:
- An LLC allows you to have up to 50 partnering members. Moreover, the best part is that you can onboard stakeholders as-and-when you feel the need to do so. All you need to do is mention these conditions in the LLC agreement contract to avoid any surprises in the future.
- An added advantage of having multiple members in a company is the monetary risk mitigation. A limited liability company is an ideal venture for investors who want to be a part of Dubai’s booming economy without investing too much in a business entity.
- The latest amendments made to the Companies Law imply that it’s possible to enjoy 100% business ownership in the mainland region as well. All you need is the assistance of a reliable service agent who’ll help you acquire the desired LLC license without having any legal participation in your business activities.
- An LLC offers a low barrier to entry for budding entrepreneurs and new-age investors. Moreover, the business norms empower you to save more on your investment via policies like complete repatriation of your capital gains, zero taxation regime, and a lot more.
Open your LLC in Dubai Today!
The best part about the LLC company setup in Dubai is the flexibility to have a minimum of 2 and a maximum of 50 partners. Moreover, you no longer need to collaborate with a local sponsor to launch your company in the mainland by sharing 51% ownership of your company.
Shuraa Business Setup helps you launch your dream venture in the UAE by offering end-to-end business assistance. We take care of licensing, approvals, banking, translation work, and everything else related to LLC incorporation in Dubai.