Limited Liability Company (LLC)
For the innumerable investors who choose to park their money in the safe and progressive environments of the UAE economy, a Limited Liability Company is the preferred path. It gives the maximum (49%) of the ownership to the foreign investors while being flexible in terms of profit sharing. The list of its benefits doesn’t end here, and for such reason you may wish to consider the same route too. And HLB Hamt is here to ensure a hiccup free journey for you.
A LLC may be established with at least two shareholders, though the number is capped at fifty. The liability of all these investors is limited to just their shareholdings. A UAE national is necessary as a shareholder in a LLC and he/she must hold at least 51% of the total company. However, the foreign investor may take a larger share of the profit as per mutual agreement. This implies that even though the majority of firm is under a UAE national’s ownership; the profits can be unequally distributed, thereby making it an attractive financial option. Moreover, the investor and his family are awarded an investor’s visa, allowing them to live in this happening city. This instrument offers unparalleled access to the wider UAE economy while imposing no minimum capital requirements at all. This opens the doors to investors from across the world, no matter the size of their finances. Further, branches of the firm can be commenced, allowing the company to expand its operations and maximize profits. All the assets and the capital created will be in the name of the company (and not the partner UAE national) and the day to day affairs can be managed without any interference from the local partner. This provides great flexibility to run the business as per the investors wish, allowing literally unlimited room to grow.
Couple these advantages with the fact that in case of LLC, very few restrictions are placed on the firm’s activities opening local/global corporate bank accounts becomes easier (and hence procuring credit facilities) and you have the perfect recipe for foreign investment. No wonder then, that LLC remains the most popular way for non UAE citizens to open businesses in UAE.
A few types of company incorporations require special approval and licenses. These include tourism industry healthcare activities, architectural and engineering consultancies, educational services, shipping and freight forwarding services and the companies situated in Dubai world communities. All such licenses are provided by four authorities: Dubai Department of Economic Development, Sharjah Economic Development Department, Abu Dhabi Department of Economic Development and finally the Municipality/ Chamber of Commerce for other Emirates.
HLB Hamt offers services that oversee complete process of incorporation of a LLC. Our profound experience provides us the ability to streamline the process of getting all approvals and clearances from government agencies, drafting MoA (Memorandum of Association), finding local partners (UAE citizens) and scouring for local equity. Further, we interact closely with our clients and assist them with strategic ideas even to the tune of suggesting necessary business pan modifications. And we supervise the completion of all documentation requirements, including opening of bank accounts. We also search for that perfect location for your office such that it maximizes business inflow. Our expertise in this area is amply reflected by the fact that we assure a span of less than two weeks to incorporation of your dream firm once all the necessary documentation formalities and finished.
So wait no more, get in touch with us to discover the most preferred way of doing business in the desert dreamland. With HLB Hamt, you can sit back and relax while we erect your dream company.