Dubai is one of the most prosperous cities in the Middle East. The rise of Dubai as a popular business destination can be attributed to its business-friendly environment. A majority of entrepreneurs are setting up their companies in Dubai because of the presence of a host of incentives.
Among all company structures, LLC or Limited Liability Company formation is gaining increasing prominence. You can also opt for business setup services in Dubai to ease the process of company formation.
LLC Company setup in the UAE requires a minimum of 2 and a maximum of 50 shareholders. In most cases, entrepreneurs have their own choices while starting a business. LLC is popular among entrepreneurs as it has higher benefits and fewer risks.
Overview of an LLC
A Limited Liability Company is a type of organisation where the founding members are not responsible for any loss. In LLC, the founders are responsible as per the company’s capital share.
In simple words, the LLC structure lies in between a corporation and a partnership company. It provides advantages for both these entities. In Dubai, entrepreneurs opt for the LLC structure because of fewer risks.
The Prospect of LLC Formation in Dubai
Note that LLC is a company structure popular in the USA. But owing to its numerous benefits, it is a gaining prominence among entrepreneurs and foreign investors in Dubai. The government in Dubai actively supports entrepreneurs who opt for LLC formation.
You can hire the services of a business formation company to know about the potential advantages of an LLC. In Dubai, forming an LLC is beneficial as the start-up cost is relatively lower. Moreover, you will have full access to the UAE marketplace.
The Advantages of LLC Formation in Dubai
Here are some advantages associated with LLC formation in Dubai.
- You can obtain an unlimited number of visas without any restrictions
- You would be able to own a real estate venture
- As an LLC, you can operate in any domain of the industry
- You would be able to pursue all types of business activities except insurance and banking
- LLC owners can easily open corporate and global bank accounts
- LLC owners in Dubai can leverage the whole UAE market
Steps in establishing an LLC in Dubai
Here are the steps involved in setting up an LLC with business setup services in Dubai.
- Select an ideal business name and list the activities of your LLC
- Choose a proper location that suits your business activities
- Enter into an agreement with the local sponsor, who will own 51% shares
- Submit all important documents to the Department of Economic Development
- Obtain trade license and other relevant permits to start operating
Note that company registration in Dubai is a simple process. But you have to deal with a pile of paperwork which can be strenuous. Opting for business formation services is thus a viable option to set up your company.
At Emirabiz, you would come across skilled consultants who will help you with LLC formation. Establish your LLC in Dubai with their help.