B-FIRST Business Solutions

What is LLC company formation, how to open LLC

B-FIRST BUSINESS SOLUTIONS is a leading company specializing in LLC company setup in Dubai and company registration across the UAE. An LLC, or Limited Liability Company, offers a versatile business framework that merges the benefits of a corporation with those of a partnership. It provides owners with limited liability protection while maintaining a straightforward management system and pass-through taxation.

Setting up an LLC with B-FIRST BUSINESS SOLUTIONS is a straightforward procedure. Our skilled consultants walk you through each step, beginning with selecting an appropriate trade name and defining the business activities. We assist in preparing the required documents, securing approvals from the relevant authorities, and ensuring adherence to UAE regulations. With our all-encompassing assistance, the LLC company formation process becomes efficient and uncomplicated.

Process and Paperwork for LLC Company Registration in Dubai, UAE

LLC company formation in Dubai follows a simple, systematic process:

• 1.Identify a business activity
• 2.Register the trade name
• 3.Apply for initial approvals
• 4.Draft Memorandum of Association (MoA) and other agreements
• 5. Select a location, choose a workspace
• 6. Apply for other government approvals
• 7. Submit documents and pay fees

Initial and final approvals

An initial approval from the UAE Government signifies their acceptance of your business establishment in the country and enables you to move forward with the LLC formation process. However, this initial approval does not authorize you to engage in the specified business activity or operate the business yet.

Certain business activities may necessitate further approvals from either local or federal government bodies. These approvals are particularly relevant to activities falling under legal affairs, security, financial securities, and commodities.

The process of LLC company formation in Dubai involves several stages between obtaining initial approval and securing final approval. These stages encompass documentation, attestations, lease agreements, and fee payments. Upon completion of these requirements, the issuance of a license permits you to commence business operations.

With our extensive and ongoing experience, we not only handle all these tasks on your behalf but also do so with exceptional efficiency.

Documents and Attestations for LLC Company Formation in Dubai

Establishing an LLC in the UAE is the most prevalent and straightforward method of conducting business in the region. This structure offers flexibility, accommodating up to 50 shareholders who can be of diverse nationalities. With recent legislative changes, it’s no longer mandatory to involve UAE nationals in the formation of an LLC. Additionally, each shareholder’s liability is confined to their respective shares in the company’s capital, even when profit-sharing varies.

To finalize the LLC formation, a notarized Memorandum of Association (MoA) must include details of all shareholders, their specific shares, roles in the new company, and other pertinent information.

Common documents accompanying the MoA during LLC formation include the Articles of Association (AoA), Certificate of Incorporation, Board Resolution, and Power of Attorney (PoA). Translated corporate documents into Arabic require attestation by the Ministry of Justice.

Shareholders must also provide personal documents such as passport and visa copies, bank statements, and bank reference letters as needed. UAE residents must obtain a No Objection Certificate (NOC) from their current sponsors or employers. For shareholders residing outside the UAE, their personal documents must be attested and notarized in their home country and then re-attested by the UAE Ministry of Foreign Affairs.

Upon submission of all required documents, the next step involves leasing or purchasing office space before commencing operations. In Dubai, the lease agreement must be registered with Ejari, the government portal for property management.

Our expertise lies in assisting individuals in establishing businesses in the UAE. You can count on us to manage all your paperwork seamlessly, efficiently, and successfully.

Key advantages of LLC Company Formation in Dubai, UAE

The benefits of setting up an LLC in the UAE include:

• 1. Flexibility in the number of shareholders, accommodating up to 50 individuals.
• 2. Limited liability for each shareholder, restricted to their respective shares in the company’s capital.
• 3. The capability to conduct business anywhere in the UAE, including over 50 free zones, as well as in the GCC region.
• 4. The freedom to obtain an unlimited number of work visas.
• 5. Diverse options for renting or purchasing office spaces.
• 6. Foreign shareholders can own 100% of the company.

Cost of an LLC company formation in UAE

Are you interested in understanding the expenses associated with LLC company formation in Dubai? B-FIRST BUSINESS SOLUTIONS is here to address your top 5 inquiries regarding company registration in the UAE.

Initial Expenses

Learn about the fundamental costs of establishing an LLC in Dubai. Our specialists outline registration fees, licensing, and documentation costs.

Package Options

Discover a variety of formation packages designed to meet diverse business needs. Whether you’re looking for basic or comprehensive packages, find one that aligns with your requirements and budget.

Ongoing Commitments

Gain insights into post-registration financial obligations, such as annual renewal fees, office space costs, and potential additional expenditures.

Industry Variances

Understand how the type of business you operate can influence formation expenses. Different industries may have specific licensing requirements that impact overall costs.

Professional Guidance

Find out how leveraging professional assistance can streamline the LLC company formation process, potentially saving you both time and money.

At B-FIRST BUSINESS SOLUTIONS, we offer transparent and customized support, ensuring you have a comprehensive understanding of the expenses associated with LLC company formation in Dubai. Embark on your business venture with confidence.

FAQ

Do I need a local sponsor for LLC in Dubai?

For LLC company formation in Dubai, it is mandatory to have a local sponsor of UAE national, who would hold 51% ownership, if you’re an expatriate. The expatriate would hold 49% ownership.

How many partners can an LLC have in Dubai?

For a company registration in UAE as an LLC entity, there is a minimum bar of 1 partner and a maximum limit of 50 partners.

What is a single owner LLC in the UAE?

A single owner LLC company is where the firm is owned and managed by the individual.