Why and How to Register an LLC in Dubai
When it comes to the business landscape in Dubai, LLCs—limited liability companies—dominate the scene, and it’s not hard to see why. They not only allow shareholders to reduce their personal liability in the event of business failure but also are subject to much fewer regulations, improving business versatility. However, those aren’t the only advantages to registering an LLC in Dubai—today, we’re going to explore a few of these additional advantages while simultaneously providing you with some general advice to getting started with one.
3 ADVANTAGES OF REGISTERING AN LLC IN DUBAI
Perhaps the biggest reason that individuals choose to register a limited liability company in Dubai is thanks to the freedom that they experience when it comes to the type of business that they’re permitted to run. In fact, unless your business belongs in the insurance, banking or investment sectors, you will be able to register it as an LLC. This makes it an attractive option for companies who are looking to get their feet wet in the region without facing an extensive amount of bureaucratic red tape.
Forming an LLC offers an additional advantage to foreign businesses—streamlined access to visas. Shareholders who register an LLC in Dubai will obtain an “investor’s visa,” enabling them and their families to take up roots in the UAE through a clearer, more streamlined path to residency. Perhaps more importantly, there is no limit to the number of visas that can be obtained in this way, meaning that even companies with many distinct shareholders can experience this key advantage of registering a limited liability company in Dubai.
Registering an LLC in Dubai gives businesses the flexibility of being able to trade throughout the UAE. Additionally, any goods that are imported by the LLC in question are exempt from the standard customs duty, enabling them to save a great deal of money throughout the course of their business.
REGISTERING AN LLC IN DUBAI
We’ve covered precisely why you should consider an LLC when it comes time to register your business in Dubai, but what, exactly, is required for doing it? This is, unfortunately, a complicated question to answer. The reason for this is because the regulatory requirements for setting up a limited liability company will vary based on the nature of the business activities being carried out.
For example, required documents can include any, or indeed all, of the following on an individual, case-by-case basis:
· Copies of passports
· Shareholder proof of address
· Reference letters
· Sovereign application forms
While the above list is not exhaustive, it gives you an idea of the type of notarised documents that you can be expected to submit. It’s due to this variety of documents that it’s always recommended that you turn to an experienced third party familiar with the requirements facing LLCs in Dubai.
The advantage of turning to a trusted management services provider doesn’t end there, either. On top of providing you with the information that you need to quickly and efficiently get your business up and running, they can also help you open up bank accounts, handle the filing of all the aforementioned documentation, and navigate any approval processes that needed to be observed.
Dubai has quickly cemented itself as one of the premier business hubs in the world, and more foreign companies than ever before are looking for ways to get involved in the burgeoning market. An LLC represents the best, most efficient way for a majority of companies to experience the benefits of opening a business in Dubai, but it’s not without its complexity. Thankfully, a trusted management services company with a deep knowledge of local proceedings and operating requirements can help you hit the ground running.
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