Dubai Trade License helps you to enhance your business networking with various clients or targeted market. Axiom Mark has a vision of creating the widest web of the satisfied users, who have achieved the heights of success with the assistance of their professional and dedicated services.
Mainland Business Setup
LIMITED LIABILITY COMPANY (LLC) – Business Formation In Dubai
A Limited Liability Company formation in Dubai can be done by a minimum of two and a maximum of fifty shareholders whose liability is limited to their shares in the company’s capital.
Under the Commercial Companies Law or CCL (Federal Law No. 8 of 1984 Concerning Commercial Companies as amended by Federal Law No 1 of 1984 and Federal Law No 13 of 1988, Federal Law No. 15 of 1998), foreign investors are permitted to hold up to 49 % equity ownership in UAE companies for business formation in Dubai, whereas 51 % of the equity must be owned by UAE National(s). Such companies are recognised as offering a suitable structure for foreign individuals or organisations interested in developing a long term relationship with the local business community for business formation in Dubai.
Management of the LLC is vested in the ‘managers’ (up to five natural persons) who may or may not be UAE nationals.
Although the maximum foreign equity participation in a Limited Liability Company is 49%, profits can be distributed in different proportions as agreed by the promoters/shareholders of the company. With the approval of the UAE National Shareholder(s), the entire business operations of the company formation in Dubai may be entrusted to the foreign shareholder(s). The foreign shareholder(s) can, therefore, claim a higher share of profit in case such shareholder(s) provides exclusive management and/or any special services or facilities to the company for business formation in Dubai. As far as the protection of the minority shareholder(s) interest is concerned, this can be done by way of shareholders resolutions and certain related security documents.Although the rules and regulations for business formation in Dubai UAE or establishing the Limited Liability Companies are generally similar in all the seven Emirates of UAE, the requirement of minimum capital and costs involved for registering the company may vary from one Emirate to the other.
LIMITED LIABILITY COMPANY (LLC) - Business Formation In Dubai
In setting up a professional firm or company formation in Dubai, 100% foreign ownership is generally permitted; however certain sectors and activities are restricted to either UAE nationals or have a UAE national shareholding requirement.
Professional firms or business formation in Dubai may be in the form of a sole proprietorship or a civil company. Such firms may engage in professional or artisan activities but the number of persons that may be employed by such firms is limited. A UAE national must be appointed as local partner for sole proprietorship, but s/he has no direct involvement in the business formation in Dubai and is paid a lump sum and/or percentage of profits or turnover. The role of the local partner is, among other things, to assist in obtaining licenses, visas and labour cards.
Where there are two or more partners, the legal structure is a Civil Works Company whereby there must be a UAE national shareholding of minimum 20%.There is a requirement that all the individuals involved have relevant University level qualifications in the relevant field of business formation.