LLC Company Formation In Dubai – Complete Guide 2024 Thinking about LLC company formation in Dubai, UAE? You are on the right path. Today, the UAE stands as a premier destination for business setup. Dubai, with its robust economy, holds a significant position as an attractive avenue for businesses. According to the Dubai Chamber of Commerce, 19,056 new companies joined as members during Q1 2024, marking a year-over-year growth of 17.6%. With startup-friendly laws, businesses here can set up LLC companies in the mainland, offshore, or free zones. Moreover, there are over 2000 activities to choose from. This blog provides comprehensive information on LLC company formation in Dubai, covering the process, requirements, and associated costs.
A limited liability company (LLC) is a type of legal business structure in UAE. For expats and foreigners planning to start a business in Dubai, an LLC, or limited liability company, is often the top choice and the simplest option available. This legal structure requires a minimum of two and a maximum of fifty shareholders. Their liability is restricted to the number of shares they own in the company’s capital. An LLC shields its owners/shareholders from personal responsibility for the business’s debts and commitments, ensuring full protection under Dubai’s corporate regulations. LLC meaning in UAE:
LLC company formation in Dubai offers various benefits including: Limited liability of each shareholder; limited to their respective shares in the company’s capital. Flexibility in shareholder count; LLC can have up to 50 individuals. A broad range of permissible business activities; DED offers a list of over 2,000 options Opportunity to apply for multiple visas for family members and employees. Empowerment to select any legal location for your business, numerous alternatives exist for leasing or acquiring office space. Benefits of
01 02 After deciding on your business activities, the next step is selecting the location. In Dubai, you can establish your LLC company in the mainland, free zone, or offshore. 03 04 05 06 HOW TO OPEN LLC IN DUBAI Start your LLC company formation in Dubai by deciding the operations and activities your business will undertake, as they determine the type of license you will need. Step 1 – Determine your business activities: Step 2 – Choose a business location: You must then select and register a trendy and unique name for your business. While selecting the name, make sure it follows the rules and conventions of the UAE. Step 3 – Select and register your trade name: Next, you need to obtain an Initial Approval Certificate from the DED for your business. This certificate serves as proof that the UAE government has no objections to your business operations in the city. Step 4 – Apply for initial approvals: Once you have obtained the necessary approvals, you must complete all required documentation, which includes drafting and signing the Memorandum of Association (MoA). Step 5 – Prepare essential documents: Whether you need a local sponsor in Dubai varies based on your business’s nature and the industry you plan to enter. Step 6 – Find a local sponsor, if needed: Step-by-step guide
07 08 Certain business operations in Dubai may require additional approvals from relevant authorities. For instance, health-related ventures might need clearance from local health departments. 09 10 11 HOW TO OPEN LLC IN DUBAI If you are starting a company in Dubai mainland, having a physical office space is a must. You will need to rent a suitable office and secure an “Ejari” agreement, which is a legal contract with the real estate agency. Step 7 – Secure an office space: Step 8 – Get additional approvals: You can apply for your trade license by submitting all the necessary documents and fees to the DED. After successful submission and verification of your documents. Step 9 – Obtain your trade license: After you have secured your license and documents back, you should open a corporate bank account for your business to manage the finances. Step 10 – Get a corporate bank account: Finally, there is immigration and visa processing. You can apply for visas for yourself, your family, and your employees. Step 11 – Visa application: Step-by-step guide
TO START AN LLC IN DUBAI: Documents required Application form for the license Bank statements Several options for the company name reservation Shareholders’ passport copies Local sponsor’s passport copy Emirates ID copy (if applicable) Office space lease agreement Duly attested memorandum of association Receipt for initial approval No Objection Certificate (NOC) from the local sponsor or partner Approvals from relevant government entities, if necessary Any extra documents requested by DED Business plan
LLC formation cost in Dubai (including 1 Visa) is AED 28,000*. LLC License cost in Dubai usually starts from AED 18,500* , with license renewal cost around AED 13,500*. The cost for your LLC company formation in Dubai may vary depending on factors such as the number of visas requested, the chosen medical insurance, additional approvals from relevant government authorities, and the use of a foreign trade name. LLC company cost in Dubai:
Get your LLC formed LLC company formation in Dubai requires a deep understanding of the UAE’s business landscape. But you don’t need to worry. Our experts at DUBIZ can guide you through the entire process, educating you about the requirements and intricacies involved. We can assist you with every step, including the paperwork, company registration in UAE, visa application, and more. All you need to do is partner with us and take a step towards success in Dubai’s thriving markets. with DUBIZ!
Contact Us +971 562986853 Phone Mail Website Address DUBIZ CONSULTANCY L.L.C, Office Number: 304; Business Bay, Citadel Tower, Dubai [email protected] DUBIZ Thank You! https://dubiz.co/