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 businesses capital. It is mandatory to have a UAE national as a partner in the LLC (51% shareholding) prospective investor has the option to choose the one UAE national (sponsor) as a partner in the company.LLC is flexible and differential profit sharing arrangements also possible. This permits the foreign investor a great edge as 51% legal equity is with local partner. The licensing Authorities for LLC are:
- Dubai: Department of Economic Development
- Sharjah: Economic Development Department
- Abu Dhabi: Department of Economic Development
- Other Emirates: Municipality/ Chamber of Commerce
- Getting approvals and clearances from various departments.
- Drafting Memorandum of Association and other necessary agreements.
- Help to bring local equity.
- Assisting to find proper office location and banking services.
- Handle other documentation formalities like Document Clearing Services Dubai, UAE