Prerequisites for an LLC company’s formation

LLC company formation in UAELimited Liability Company is the most common form of business in Dubai. Many companies with foreign partners choose Limited Liability Company because this is the only option which gives you maximum legal ownership, under which 49% belongs to the expatriates for a local business. It is mandatory to have a Local Dubai citizen as a partner in the LLC, holding 51% of the shares. Therefore, the potential investor has the option to opt the one UAE national as a partner in the company.

Over the past few years, Dubai has appeared to be one of the top business destinations in the world. It is a source of attraction for people who are looking for LLC Company Formation in Dubai. As Dubai remains tax-free and diverse in its policy, it will continue to be a priority choice for investors in different parts of the world for Company Formation. It is already a favorite location for most of the investors to setup a Limited Liability Company in Dubai.

The LLC Company can be formed with a minimum of 2 and a maximum of 50 partners. The liabilities of the partners or shareholders are limited to their share in the company capital. Hence, the LLC companies are restricted to initiate any kind of business activities such as money investment, banking, and insurance.

As I mentioned, a limited liability company need an Emirati silent partner with more share of the company than the investing partner i.e. 51% to 49%. Once all the legal procedures are finished, the silent partner must make an agreement in the court stating that he will be having no involvement in the business.

Prerequisites for an LLC company’s formation

Prerequisites LLC companyA limited liability company can come into existence without any Bank Deposit and Auditor Certificates. Therefore, LLC Company Formation in Dubai has become less burdensome for the investors. The necessary documents required for LLC Company Formation in Dubai include investor’s passport copy, local partner’s passport copy, NOC letter if the partner has a residence visa in the state, Registration application from Economic Department of Dubai, Trade name reservation, Initial approval from Economic Department of Dubai, Tenancy contract for the attested warehouse or office by civil defense department and planning department of Dubai, MOA (Memorandum of Association) attested from public notary.

ProDesk provides you complete assistance for investors and clients who interested in LLC Company Formation in Dubai. Their business experts are well aware of your need, budget, and nature of your business activity. Thus, they offer you complete assistance in forming an LLC company in Dubai. They guide the clients to discover a proper location to setup their company. Additionally, they also provide you with the local sponsor for you LLC Company Formation in Dubai. You don’t have to worry about the entire incorporation process and other legal documents for the company because they take care of all that on your behalf.

Source: prodesk.ae