A Limited Liability Company (LLC’s) is one of the most commonly incorporated commercial entity types that you can establish in the UAE.
Currently, the law states that most* Limited Liability Companies must have one or more local Emirati partner(s). The local shareholders are required to possess a minimum of 51% shareholding in the LLC.
The thought that someone will own 51% of YOUR business is daunting and one decision not to take lightly, we at PRO Partner Group totally understand the trepidations that many clients feel but through our secure and trusted nominee structure, we ensure your interests are fully protected in accordance with the law. When you partner with us, PRO Partner Group become the Emirati 51% professional corporate partner in the LLC, taking away any pressure of independently finding a trustworthy local sponsor.
The partners within the company benefit from having limited liability exposure to the extent of their contribution to the share capital. Unlike many GCC countries, there is no minimum specified share capital amount and Companies Law instead stipulates that the capital should be sufficient for the companies needs.
* Certain activities such as Recruitment Services or Real Estate Related Businesses are an exception to this rule, as they can only be completed by 100% locally owned entities.
More Information about LLC’s:
- No Minimum Capital Requirement.
- Statutory exemption from corporate tax.
- No restriction on repatriation of capital and profits.
- It is mandatory for an LLC to have a suitable office space prior to obtaining a Trade License.The profit share for the company does not need to reflect that of the shareholding.
For further information on establishing a Limited Liability Company (LLC) in Dubai or Abu Dhabi, please contact us on +971 (0)4 456 1761 or email us at firstname.lastname@example.org.
Dubai Chamber of Commerce: www.dubaichamber.com