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Limited Liability Company Registration in Dubai, UAE
Those who are interested in starting a Limited Liability Company in Dubai should be aware of the procedures and the UAE commercial Company Laws. Normally, a common business man or a foreign investor may not be well aware of the UAE company formation and registration procedures. In such cases, it is better to consult with a limited company registration consultant in UAE. We are one of the top company formation consultants in the Country. Our assistance helps you in setting up a limited liability company without any teething troubles. We provide assistance in Limited company formation, business setup and guidance on how to start a new business and register it as a limited company. A Limited Liability company is restricted to a minimum of two and a maximum of fifty shareholders and is flexible in terms of organizational structure and allocation of profits. By registering as a limited company you can do any type of business other than money investment activities, banking and insurance. Recently the bank rules related to the allocation of capital deposit is nullified, so you are able to begin a new business without a Bank deposit certificate and an Auditor certificate.
A foreign investor is able to register a limited company in Dubai by sharing 51% of the company with a local UAE sponsor. Most of the Limited Liability companies in Dubai have started choosing a UAE local sponsor as a silent partner. In such partnerships the local sponsor will be given an annual sponsorship fee in return of giving the whole control of the company to the foreign investor. One can decide the way in which they wish to distribute the profit/loss of the company. It is mandatory to execute a management agreement between the foreign partner and the UAE national on the beneficial ownership of the shareholding, as well as profit sharing.
For beginning the registration process you should reserve a trade name and get initial approval from the Dubai department of Economic development. For getting initial approval you have to submit various documents.
Documents required for initial approval
- Application for company registration and license, along with reserved trade name
- Copy of Identification certificate (for UAE nationals only)
- Copy of passport and visa details, other than residence permit of foreign investor
- Copy of passport of shareholders, proposed directors and general manager
- Copy of no-objection certificate from applicants current sponsor
- Copy of government authorization letter for the proposed business activity
Those who get initial approval letter can step forward and apply for other certifications in various other government departments depending on the type of business activity that you are planning to do. You should sign the Contract of Establishment before a notary and submit it while submitting the documents before the Dubai department of Economic development for the final approval. In this agreement there should be details related to the trade name of the company, its primary business objectives, head office, office address, name of shareholders, their permanent address and nationality, place of residence, profit/loss sharing details, capital investment, complete address of the office managers and the notification method to be initiated in the office.
Documents required for final approval
- Copy of initial approval letter
- Copy of documents submitted for initial approval
- Copy of office lease agreement, including the address of the plot
- Memorandum of Association duly signed by a notary
- Contract details of the limited company
- Commercial registration certificate attested by UAE Embassy or consulate
Formalities and registration procedures related to limited company formation is generally determined by each Emirate. There can be slight changes in the procedures. But the documents to be submitted are always the same. As a business consultant we are able to help you in making the application procedures simple and fast.