If you are planning to set up LCC Company in Dubai, you cannot find a better place than here. Dubai is very famous for shopping malls, the shopping festival, Dubai skyline, trade, and commerce.
Working conditions in Dubai are quite different from other countries. Non-free zone for new investors and the foreign entity is a good opportunity with some restrictions on various grounds. Here are some points one should consider before planning to set up an LLC company formation in Dubai non-free zone or the mainland.
Ownership status-Dubai non-free zone or mainland requires a local partner or state holder with 51% ownership. Unlike the free so zone which can be completely owned by the foreign traders.
Local sponsor– A local sponsor is a UAE national or UAE-owned company, who is responsible for bringing you into this country. A sponsor is required even if you’re an investor, employee or tourist.
If you are a foreigner and wish to incorporate in Dubai, You require a local sponsor. If you wish to visit Dubai, you need a sponsor for Dubai. if you are in the Free zone, the free zone is your sponsor.
Authority-the Dubai non-free zone or mainland is an economic zone which is monitored by Department of economic development (DED).
Business jurisdictions-If you are planning to set up an LLC, the control of the business depends on you and the local sponsor or the business partner with respect to the business laws of UAE.
License’-The process of getting DED license and incorporating a company in mainland or LLC jurisdiction requires at this to some documents and permissions from the government authorities.
Cost- the cost usually depends on the nature and the size of the company you are planning to set up. License fees LLC contract, DED fees, trade name and license fees, Ministry of economic fees, Tejari fees, administrative services license fees, commercial service improvement fees are some of the common fees involved while setting up an LLC in Dubai.
Other factors such as the type of the company and the investments made are also considered.