DED COMPLIANT BUSINESS REGISTRATIONS

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Company formation in Dubai with a Mainland License issued by the Dubai Department of Economic Development (DED)

  • Starting from AED 3000 p/m

Affordable Setup

Start a Company in Dubai and save on initial capital with our monthly instalment plan

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what YOU NEED TO KNOW

Limited Liability Company (LLC) - Onshore

The standard type of company formation in Dubai is the Limited Liability Company (LLC). The Department of Economic Development (DED) drives the economic agenda of the UAE and is the Government body that will issue all trade licenses.
 

Unlike Free Zone companies an LLC is not restricted on where it can trade in the UAE. Also, there are no limits on real estate ownership, or the number of visas you get. There are no minimum share capital requirements.

Foreign Ownership Restrictions

A common problem setting up a new company is the UAE foreign ownership restrictions. The rules state at least 51% of shares must belong to a UAE/GCC national sponsor. The sponsor may be either an individual or a corporate entity 100% owned by UAE/GCC nationals. The sponsor is usually called a local partner and many investors worry about relinquishing control of their company. But for trade with local companies you must be DED licensed.

We have a solution to the problem. It involves the sponsor signing a separate Shareholder agreement. As a result, you keep operational control of your business. The sponsor cannot make any decisions for the business or have access to bank accounts. In addition, you can sell the business without their agreement. All of this is now common practice in Dubai.

Steps to setting up an LLC:

  • 1.Speak with our team who will advise on the correct legal structure for your business.
  • 2.If you need a mainland (onshore) business setup a UAE local partner will need to hold 51% of the shares in the LLC.
  • 3.The documents needed vary with each type of business. These include but are not limited to:
  • - Certified passport copies for all shareholders and managers
  • - Copy of UAE residence visa
  • - No Objection Certificate (NOC) from current UAE residence visa sponsor
  • - 2 x Certified proof of address for each shareholder
  • 4.If the shareholder is to be a corporate entity, the documents will include
  • - Memorandum and articles of company
  • - A board resolution agreeing to incorporate a new LLC in UAE
  • - A power of attorney (POA) to the General Manager to incorporate the new LLC
  • 5.All documents must be notarized and attested in both the applicant’s home country and at the UAE consulate. The notarization process should be commenced early, because it can take a significant amount of time
  • 6.All documents must be translated into Arabic by an official translator before presenting in the UAE
  • 7.You should submit all documents to One Space so we can manage the application process to completion

Advantages of an LLC in Dubai:

  • - The liability of the shareholders is limited to their shares in the capital of the company
  • - An LLC may conduct any type of activity except for insurance, banking or investment
  • - An LLC can trade anywhere in the UAE, including the Free Zones
  • - No restrictions on the number of visas that can be obtained
  • - No restrictions on the location where the company can rent/buy office premises
  • - The government has waived any paid-up capital requirements

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