LLC Company Formation in Dubai
Setup business in Dubai was never easy like this before. The Department of Economic Development (DED) is the License Registration authority in Dubai. DED will ensure the process of company formation in Dubai become quite easy and affordable. The DED License is one of the most flexible options to start up a company in Dubai. An LLC Company gives a huge scope to do business all across the world.
No need for a local sponsor for LLC company in UAE.
As per new company law implemented from 1st June 2021, there is no more requirement of UAE national to hold the 51 % share of the LLC Company, now investors can own 100% share of a mainland trading company in UAE.
LLC Company Formation Package in 2021
License Package includes:
- No need of UAE local sponsor
- 100% foreign ownership
- Trading business activity only
- Company setup in 1 day (Instant License)
- No physical office required (Instant License)
- Eligibility to get 2 Investor visa
- Copies of passport of all shareholders.
- Passport size photos
- Visit Visa copy/ on arrival stamp
- Proposed 3 company names.
The time required to form an LLC company in DED using instant license will take 1-2 Days.
Advantage of Limited Liability Company
As the name implies, members’ liabilities for the debts and obligations of the LLC are limited to their own investment. This is one of the key advantages of a limited liability company. In other words, if your company gets sued, your personal assets, like bank accounts and real estate, are protected. At most, you can only lose the money you put into the business and nothing else.
Keep in mind that this protection is not all-encompassing. Members can still be held liable for criminal behaviour or if they neglect to follow certain rules about business management. Consult with a lawyer to make sure you are not violating these rules and exposing yourself to personal liability.
For taxation purposes, income from your business can be treated as your own personal income. Therefore it is not subject to certain federal taxes for which corporations are liable.
Some legal structures limit the number of people allowed to file as owners. With an LLC, there is no limit to the number of owners. An LLC can have one member or hundreds of members.
In an LLC, the amount of money that owners invest in the business doesn’t need to equal their percentage of ownership. When an LLC is formed, members create an operating agreement. in which different percentages of company profits and losses can be assigned to owners regardless of the amounts of their initial investments. So you can make a deal with an investor to have them finance half of your business without necessarily owning have of your business.
Freedom in management:
Unlike standard corporations, LLCs are not required to have a board of directors, annual meetings, or strict book requirements. This can free up a lot of time and stress to let you run your business on your own terms. As you can imagine, this can be an important advantage of a limited liability company as well.