An LLC company in Dubai offers a low barrier to entry for the new-age investors and budding entrepreneurs looking to launch their dream venture in thi
An LLC company in Dubai offers a low barrier to entry for the new-age investors and budding entrepreneurs looking to launch their dream venture in this region. It’s a legal structure where none of the participating members are directly liable for the losses incurred by the company.
The best part is that you can now launch a limited liability company in the mainland with 100% foreign business ownership. All you need is the help of an LSA (local service agent) to manage the paperwork and obtain the license. The business consultants at Shuraa become your silent partners and never intervene in your business activities at a nominal price.
What are the Steps for LLC Company Formation in Dubai?
1. Decide your Business Activities
The first step for LLC company formation in Dubai is deciding the business activities. You can choose from a plethora of activities permitted by the concerned economic departments. Moreover, the provision to apply for external approvals also empowers investors to gain exclusive privileges for running a full-fledged business in the UAE.
You can formulate a curated list of the desired business activities and send it to the governing authority for their scrutiny. The department will get back to you in case of any concern, and you’ll need to revisit your application if it’s rejected.
2. Book a Trading Name for your LLC
Do you have a preferred list of business names you shortlisted for your limited liability company? A legal business name plays a pivotal role in establishing your company’s authority in the marketplace.
Therefore, always choose a name that reflects confidence, and indicates the nature and objective of your venture. Furthermore, don’t forget to follow all the naming convention protocols maintained by the government when finalizing your LLC’s official name.
3. Select a Location
Where do you wish to open your LLC? Remember that you can launch an LLC company in Dubai in the mainland region, or any free zone/offshore regions. You no longer need to partner with a local sponsor and share your LLC’s ownership in the Dubai mainland, thanks to the amendments to the Companies Law.
These progressive and visionary decisions made by the government empower you to enjoy increased flexibility when choosing your LLC’s business location. The business experts at Shuraa help you find the ideal location by listing the pros and cons of each business zone.
4. Submit the Required Documents
It’s imperative to gather all the mandatory documents and finish the paperwork formalities before applying for an LLC license. The UAE’s government follows a rigorous document evaluation policy to ensure a crime-free working ecosystem for business owners.
Therefore, all the investors – be it UAE nationals or expatriates, need to submit several documents and approvals. These are duly examined by the concerned departments and any discrepancies (if found) are reported to the applicant.
5. Apply for an LLC License
You can apply for an LLC business license once you submit the required documents that include the payment receipt of trade name reservation, initial approval certificate, UAE entry stamp, etc. All business investors need to secure the relevant license to carry out their business activities in Dubai.
You also need to renew the trading license annually after obtaining the license for the first time after setting up your LLC company in Dubai. The applicants need to submit the BR/1 form and pay the designated fee for license renewal.
6. Manage Visas and Open an Account
You can secure visas for yourself and your dependents in the UAE once you’re done with the steps discussed above. It’s a hassle-free four-stage procedure where you need to submit the visa application alongside supporting documentation and wait for the visa permits.
Moreover, you need to approach any local or international bank in Dubai to open a corporate bank account. The legal advisors at Shuraa make this step easier for you by shortlisting the best banks for your business and also assisting in opening the account.
What Paperwork Goes Into Opening an LLC in the UAE?
- Payment receipt of trade name reservation
- 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
- Copy of the lease agreement signed by the Real Estate Regulatory Agency (RERA) in Dubai
- Duly attested Memorandum of Association (MoA)
- Approvals from other concerned government authorities
- Formal agreement letter with the business sponsor/local service agent
Launch your LLC in Dubai Today!
Incorporating a limited liability company in Dubai is straightforward and doesn’t consume much time if you have the right guidance. You might think, “from where do I find this business assistance?” Well, Shuraa Business Setup is a one-stop solution to all your business worries.
We handle documentation, licensing, translation work, and much more as part of our end-to-end business assistance program. Therefore, you don’t need to think twice before collaborating with our business consultants to set up an LLC company in Dubai.