Limited Liability Company (LLC) is the most common form of business in UAE. A Limited Liability Company can be formed by a minimum of 2 and a maximum of 50 shareholders whose liability is limited to their shares in the business capital. The standard type of company in the UAE mainland is the Limited Liability Company (LLC). The DED is the government body authorised to issue all licences for LLCs and is responsible for classifying and regulating the types of economic activity that may be undertaken.
Exsolution will help you get the company started by soliciting with the government and other authorities to get the necessary approvals and resources so that the company can be setup in a smooth and efficient way.
Documents for an Approval of Limited Liability Company
- An application where you mention the unique trade name, and which pertains to the licensing and company formation
- A passport copy
- A no objection certificate from the sponsor if someone has a residence Visa
- Local Partner’s Passport Copy
- Emirates ID of UAE Nationals
- Passport copies of the director and manager
Documents for Final Approval of LLC Company Setup
- Initial Approval Copy
- Documents Submitted
- Lease Agreement and Address of the Plot
- MOA duly signed
- Capital Requirement of an LLC
Advantages of an LLC Company
An LLC can conduct any type of business activity excluding insurance, banking, and investment. There aren’t any restrictions on the number of visas that can be obtained. The investors of an LLC company can avail investor’s visa under which they can get investor status in the Emirate along with their family.
An LLC is exempted from paying the standard 5% customs duty on imported goods. Also, restrictions are not imposed on real estate ownership.