Mainland Company is also popularly known as Limited Liability Company (LLC or Local Company) in Dubai. It is one of the most common type of company formation in UAE. This form of company gives maximum flexibility & scope to do efficient business in Dubai. A Limited Liability Company can be formed by a minimum of 2 shareholders and a maximum of 50 shareholders whose liability is limited to their shares in the businesses capital.
Most companies with foreign partners have chosen for the Limited Liability Company, due to the fact that this is the only option that’ll give maximum legal possession i.e. 49% to the expatriates for a Local Company. As it is compulsory to have a UAE national as a partner in the LLC (51% shareholding) prospective investor has the option to choose the one UAE national (sponsor) as a partner in the company. L.L.C is flexible and differential profit sharing arrangements also possible. This permits the foreign investor a great edge as 51% legal equity is with local partner.
To avoid the risk of unprofessional Local Sponsor, we provide trusted sponsor for your business, Our Sponsors are well educated and trust worthy with us and our clients, we are working with them since several years. We assure that our clients didn’t stuck or having any trouble because of our sponsor. Important Factors to keep in mind for a Mainland Company in Dubai.
Foreign investors can set up several types of companies in Dubai depending on their business objectives. Before deciding on the type of company they must select the category of business license as the Dubai Department of Economic Development regulates three types of business licenses. These are:
Cost Analysis: Cost Analysis: As you can see there are several thing in company formation, the price and total cost can be different in two companies, depend on the business activity, Number of Shareholders, cost of the office, etc. We can gives an estimates quotation on your request.
Time Frame: Normally it will take 15-20 Days for a normal activity (like Trading, technical services etc.). Sometime might be extra time include in few business activity for additional approval from various departments.
Document Required: Passport Copy of all Shareholders, List of Trade Name for Company Name subject to availability and List of Business activity.
In UAE, it's mandatory to have a local sponsor (UAE national) when setting up a new business in (Mainland) other than free Zone. A LLC company must have legal documents to show that 51% of the shares is owned by a local person or a local company owned by UAE national. The Sponsor is a sleeping partner and is only required to fulfil the legal requirement. The sponsor has no rights on the business management, turnover or profits.
We assist companies and individuals by introducing them to trust worthy, dormant and reliable partners. We have stringent procedures to assess suitable nationals as local partners. We only recommend credible individuals as sponsors who have a well established track record of non-interference in the businesses of our clients.
In the case of a professional practice, a local service agent is required, but this agent has no involvement in the company's business operations, management or profit sharing. The agent merely acts as a representative when drafting legal agreements and establishing other business documentation required in Dubai.
If you are considering sponsorship for your new business or are not satisfied with your current sponsor, we can assist you with suitable business sponsors.
We also make an agreement (other than MOA) between local sponsor and investors to protect their investments in the company.
Elegant Services closely interact with clients to handle their LLC Incorporation from starting point to finish line and assist with strategic ideas, work with their business plan;