LLC Company Formation in Abu Dhabi
Limited Liability Company (LLC) is a common legal type of Business operating in UAE Mainland. The selection for this kind of entity is due to its easiness to approach various restricted sectors. The completion time to incorporate such companies is faster compared to the rest of the Legal Forms. There are few pre-conditions to this legal form:-
- A UAE National is required to Partner with you.
- The shareholding pattern will be 51% for the UAE National and 49% for the Investing Partner.
- Immigration clearance is a requirement for the Investing partner.
- The managerial powers will be vested with the Investing Partner.
The UAE national will accept an agreement to forgo his rights as a partner and will be considered as a retiring partner for a specific fee. The determining factor for the fee will vary on the partner and his family heritage.
Uniqueness on LLC
- Able to tap into the Local and international market simultaneously without paying any other duty/customs/taxes.
- The customary requirement for various government regulators, so as to get authorized by the regulator to undertake the various works planned for including the tenders and bidding process.
- Local companies favor other LLC companies as its bound to attract various local business opportunity.
What are the benefits of LLC incorporation?
- While foreign equity in the company does not exceed 49%, profit and losses can be shared at a ratio different the share capital.
- The most popular method of establishing a commercial company in UAE
- UAE LLC offers unrivaled access to the wider UAE economy
- No specific minimum capital requirements
- The investor becomes the partner in the company.
- The investor gets the investor visa under which he/her enjoys an investor’s status in the Emirates along with his/her family.
- The investor has the option to commence branches.
- The investor can manage the business without the day-to-day interference with the local partner.
- The assets and capital created will be in the name of the company and not in the name of the local national partner.
- Few restrictions on the activities of UAE LLC
- Easy to open global corporate bank accounts
If you are looking for assistance in setting up a business in Abu Dhabi, please feel free to Contact us. Our team of experts is more than happy to answer all your questions in this regard.