Company Formation in Dubai
YouFirst is an excellent solution for net-worth individuals seeking for the formation of the company in Dubai. We help business owners to launch and expand their operations without the need for lengthy processes and administration.
Different categories of business organizations in Dubai :-
Limited Liability Company
Foreign investors are permitted to hold an equity ownership in UAE, as long as 51% of the equity is with U.A.E. nationals. The preferred company form for foreign investors is Limited Liability Company (“LLC”) because of other factors, its flexible management structure and protection of minority shareholders. The L.L.C. requires a minimum of two and a maximum of 50 members in in a company, with a minimum of 51% equity ownership. Management of the L.L.C. is vested in the “managers” (up to five natural persons). Registration and licensing application form has to be submitted to economic department-Government of Dubai. At YouFirst, we takes care of your document submission and its approvals process hassle free, so that you can focus on other core areas.
A Dubai Professional License or Dubai Services License is a type of company formation structure in Dubai whereby the foreign investor or foreign owner has 100% ownership of the company. It is compulsory to appoint a local UAE sponsor for this type of company also, with the only exception being that the local UAE sponsor does not own any equity in the company.
The procedure for obtaining a professional licence through the Department of Economic Development is similar to the process of obtaining a commercial or industrial licence. A professional company, also known as a civil company, can be 100% foreign owned, although a local service agent will need to be appointed to take care of official procedures within various government ministries.
Join Venture Company
A Joint Venture is nothing more than an economic cooperation or business combination of two or more people, companies or associations with a common economic goal. A sharing of risks and profits in a specific proportion coupled with a contribution of expertise and assets to the venture, whether those assets be human capital or monetary capital. The venture may be limited in time or may have no time limitation although most joint ventures are limited in scope – limited to the expertise of the joint venture partners. It is also quite common for a joint venture to have some form of time limitation such as a preliminary phase with a prescribed time limit within which the venture must accomplish minimum goals.
This entity is 100% registered in the name of an individual (also called Establishment). The sole proprietor has unlimited liability for his business.
Sometimes foreigners carry on the business under power of attorney from the UAE National. However, this is not a recommend legal structure since there is no security of ownership to the foreigner and also the UAE National owner has unlimited liability.
Some professional activities are permitted to be carried on by foreigners as sole proprietorship (such as medicine, engineering, legal consultants and computer consultants and management consultants) subject to fulfilment of professional qualifications. However, in such cases, local service agent (UAE National) who acts as a sponsor is also required to be appointed.