LIMITED LIABILITY COMPANY
A Limited Liability Company is the most common form of business entity currently formed in UAE. A limited liability company can be formed by a minimum of two and a maximum of 50 persons whose liability is limited to their shares in the company’s capital. The minimum equity participation by UAE national is 51%. Capital required to form a limited liability company in Dubai is AED 300,000 (US$ 81,744) contributed in cash or in kind. However, in the other Emirates, the capital requirement is AED 150,000 (US$ 40,872). Profit or loss distribution can be prescribed and responsibility of management of an LLC can be vested in the foreign or national partners or third party. The shares of such company are not open for subscription by the public and they do not issue negotiable shares.
SALIENT FEATURES FOR FORMATION OF LLC COMPANY IN DUBAI (NORMAL TRADING or GENERAL TRADING ACTIVITY)
- Legal Status: Limited Liability Company (51% UAE national and 49% Foreigner)
- Capital: 300,000/-
- Type: Commercial License
Documents / Details Required:
- Application (Initial approval) form duly signed by all the partners.
- Few Trade Names
- Passport copies of all the shareholders (Zinsia copy /Family card of the Local partner)
- Important Clauses to be incorporated in MOA (we will guide you)
- Tenancy Contract of office/shed- Minimum office space required 500 Sq.feet.
- Details of the Shareholdings
- Address & Contact nos. for preparing MOA.
- NOC from the current Visa sponsor if the foreign shareholders/Manger is resident of UAE.
- Partner should have company visa in order to sign documents for Labour department.
- The partner should hold AED 72,000/- share capital in order to get the partner visa.
- Premises should be leased after the approval of the planning section of economic department
- Additional AED 15,000 Fees for General Trading Activity (Renewal fees AED 2.500/- for subsequent Year) will be applicable
If you need additional assistance or have any questions, please contact the following:
Tel: +971 4 343 8022