Dubai is one of the most loved cities in the world for business and entrepreneurship. The infrastructure, the amenities, the work culture and the multi-cultural ambience makes it even more perfect for business, as people coming from other parts of the world finds it very welcoming and amiable, making it easier for expatriates to establish a business here. The most vibrant city of the Middle East, Dubai has the character of both eastern and the western part of the world, making it the choicest hub for businesses to open an office here.
Additionally, ease of doing business, a very investor-friendly economy, an understanding government, easy accessibility from every part of the world make the city even more perfect for the global business community. The availability of free zones for almost all categories of business is the key factor that makes Dubai a favourable destination for entrepreneurs and investors.
However, LLC or Limited Liability Companies have their own advantages. Here we will try to understand more about it.
What is a Dubai LLC Business Setup?
Limited Liability Company is the most popular option for company formation. Investors, entrepreneurs and beginners find it more advantages as it provides flexibility. Favourites with the expatriates, this company structure requires local partner/service agent/local sponsor (UAE national) as one of the shareholders with a 51% share in the business. However, the local agents mostly stay dormant, so no need to worry. The local partners are very helpful in coordinating with the various government departments and also in assisting in handling all the paperwork.
What are the Advantages of Forming an LLC in Dubai?
The main advantages of establishing a limited liability company in Dubai are:
Affordable for All
An LLC company set up does not attract a high cost, rather cost is low comparatively, making it most popular among the ex-pats. There may or may not be any restrictions in matters of the minimum capital in limited liability companies. This minimum capital majorly depends upon the business activity type, size and type of the business that is to function.
You Get Quick Business Setup
It is easy and fast if you have all the necessary documents with you for business setup. You can register your company with the Department of Economic Development (DED) within just 90 minutes. Furthermore, there is no need for a lease agreement. When you plan to form an LLC in Dubai, you can probably obtain the necessary license for a wide range of business activities.
Option to Choose the Locality for Business Setup
A limited liability company can do business from anywhere in the UAE. The process of incorporation is very simple and assle-free for entrepreneurs. The amount of restrictions on the types of business to be conducted is comparatively lesser than other types.
The Visa Facility for Investors is Easy
An expatriate in Dubai LLC by registering himself as an investor can avail certain benefits. The process of obtaining an investor visa is very simple and easy. You will only have to produce the necessary documents and show it to the concerned authorities. After an ex-pat receives the status of an investor, he/she can obtain a visa even for their family.
Easy to Form Branches
This form of business can easily get noticed in the market and can also earn market reputation through quality work. It becomes easier for them to establish their business in the local market. Once the company sets its foot firmly in the market, it can start transactions directly with the local markets. Moreover, you also have the flexibility to open more branches all over the country to make an easy transaction and for smooth business operations.
More benefits of setting up a Limited Liability Company in Dubai are:
●No payment of taxes
●Easy to open corporate bank accounts
●No fixed capital requirement
●You can own limitless branch offices or other properties in the UAE
The above-mentioned benefits are a key factor due to which limited liability company (LLC) is one of the most preferred legal company formation type in Dubai, UAE.