How to start a Limited Liability Company (LLC) in Dubai
Holding global significance for business owners and entrepreneurs from different industries who want to establish their base here, Dubai offers ample opportunities from initiation to execution and expansion. The thriving economy and business-friendly environment make Dubai an ideal destination for business formation in the country.
With the countless benefits of setting up a business here, entrepreneurs can start their company in the Free Zone, Mainland, or Offshore depending on their chosen business activity.
Being a distinct legal structure, a Limited Liability Company (LLC) has become one of the most popular choices among startups for long-term establishment. If you are wondering how to start an LLC, here are the details and steps you need to know.
Definition
- A Limited Liability Company (LLC) is a type of enterprise with partnerships that are created for different corporate structures.
- More than one branch of the LLC can carry out one or all of the activities included in the main business license.
- The branches of limited liability companies can be sold to any party or business.
- The owner is free to change its legal form as per Department of Economy and Tourism (DET) procedures as it is the regulatory authority for business setup in Dubai, UAE.
Ownership
100% ownership is allowed depending on the business activity.
LLC formation can have a one-person LLC or a minimum of 2 to a maximum of 50 shareholders.
There are no minimum share capital requirements for setting up an LLC.
Each partner is liable for their shares of business capital.
Activities
A Limited Liability Company (LLC) in Dubai can carry out any commercial, industrial, professional, or tourism activity, giving entrepreneurs more than 2,000 business activities to choose from.
Some of the business activities are:
- Agriculture
- Trading
- Finance
- Food and Beverage
- Logistics
- Real Estate
- Technology
- Hospitality
- Education
- Healthcare
Some of the professional activities are excluded according to DET’s business regulations as they require approval from authorities.
Advantages
- 100% tax-free with no obligation to pay taxes on any form of income
- Only minor paperwork is involved in setting up a business
- No minimum share capital requirements for setting up an LLC
- Choose any business location and freely trade in the UAE without any restrictions
- Get multiple numbers of visas
- Acquire limited liability protection
- Choose from a large range of more than 2,000 business activities
- Eligible to open a corporate bank account with credit facilities
Process/Steps
- Select a business activity
- Choose a company name
- Obtain initial approval
- Sign Memorandum of Agreement (MoA)
- Finalize business address
- Submit all the required documents
- Get the necessary approvals
- Acquire a trade license
Requirements
- Passport copy
- Copy of Emirates ID
- Copy of tourist or residence visa
- Unified Number (UID) for residence or tourist
- UAE entry stamp
Starting a Limited Liability Company (LLC) in Dubai requires experienced professionals that have long-term affiliations with the relevant government authorities to handle all the legal and corporate work for a smooth setup of your new company.
By trusting EZONE, you can set up your LLC without any hassle or worry through our plans that are specialized to your need so you can be assured of every step. With us, you get your startup answers and time-tested solutions that guide you in the incorporation of your company.
Conclusion
In addition to company formation, we offer timely assistance from accounting and bookkeeping to bank account opening and brand marketing. To get to know how we can help you establish your business in the UAE, reach out to us at 800-EZONEUAE or hello@e.zone.
You get a free consultation with unbiased advice that will get you started without any delay!
