A Dubai Limited Liability Company (LLC) or sole establishment (one single owner) allows you to do local trade and services. It is recommended for companies who want to pursue trading business within the UAE and internationally.
Main Features of LLC
Local & International Trade allowed
Office premises required
Visa provided
100% shareholding is allowed.
A Dubai limited liability company (LLC) is an ideal vehicle to use for entrepreneurs doing business within Dubai, the U.A.E. and internationally. With Dubai Company, you still can own only 100% of the equity, provided the company’s activity is a professional one and not a commercial activity.
A Dubai Company can be formed with a minimum of two and a maximum of 50 persons whose liability is limited to their shares in the company’s capital. Companies with expatriate partners typically opt for this form of company.
A local UAE national still needs to be appointed a local agent of the company but has no shareholder or jurisdiction over the company whatsoever. He will collect a fixed fee to perform a statutory position within the constitution of the company.
A local company must appoint a manager as well. A manager must be a qualified individual for the professional license chosen. In our case a management consulting company has to appoint someone with a Business Bachelor’s degree. The manager also needs to have 5 years relevant experience. In 2018 the Department of Economic Development introduced examinations for all managers being appointed into a Dubai License. The Exam costs about 600 USD to sit and of course relevant preparation is required.
Benefits of Dubai Company
A Dubai L.L.C. offers unrivalled access to Dubai and the wider U.A.E. economy
There are few restrictions on the activities of a Dubai LLC, and it is possible to obtain a license for all activities except for banking, insurance and investment activities
Through a Dubai LLC, investors obtain a strong physical presence in Dubai
Incorporating a Dubai LLC now faces no specific minimum capital requirements, after this formal requirement was abolished in the UAE Companies may or may not be subject to minimum capital requirements, dependent on the size, nature and goals of the business
It is substantially easier to open global corporate bank accounts following Dubai LLC set up
OBTAIN PROFESSIONAL IMMIGRATION ADVICE
If you have any questions in any of the directions, please contact us.
Dubai Limited Liability Company (LLC) license cost
The cost of Feod Group lawyers’ services for registering a new company in Dubai is $ 35,500. Included in the price:
Constitution procedure of new company with the Economic Department
Annual Rent (provision of registered office in our office)
Visa cost
Manager services `
In order for your company to be located within our office, our local agent has to be your agent as all licenses in this office need to be under the same local agent.
VAT
The UAE has implemented VAT from 1st January 2018. Please note that all Free zone and mainland companies must register for VAT if their turnover is more than 100K USD a year. Also note supplies made outside the UAE are zero rated, however all supplies within the UAE and GCC 5% VAT applies.
Our office can register your company as well as carry out all VAT submissions and bookkeeping.
Tax Residence Certificates for Companies and individuals
Once a Free zone or local company is set up, we can acquire tax residence certificates within the 1st year. A company audit,12 months bank account statements are required to be submitted to the UAE government. Once the submission is made it takes about 4 weeks to receive the tax residence certificate. The cost for a corporate TRC is 4,150USD including all government fees. We can take on company audits for a pre agreed fee, price range for an SME from 1,500USD to 3,000 depending on number of transactions, complexity of industry, records kept by client.
Any individual who acquires a residence visa from the company can receive a TRC within 6 months. The cost of a TRC is 2,000USD including all government fees.
Chryso Christofidou is a highly experienced corporate and immigration lawyer with over 15 years of legal practice, specializing in corporate law, tax structuring, investments, and fiduciary services in Cyprus....
Chryso Christofidou is a highly experienced corporate and immigration lawyer with over 15 years of legal practice, specializing in corporate law, tax structuring, investments, and fiduciary services in Cyprus.
