LLC company formation in Duba
LLC company formation
An LLC company formation in Dubai is one of the easiest ways to set up your company. This is because the process is made easy and quick. Also, it is very convenient to use this method compared to other methods of company registration in Dubai. The process is so simple that even non-experts can do it with ease.
An LLC is actually among the simplest and most commonly used ways of business formation. This is because of its many advantages and its flexible nature. Most often, used by the foreign nationals, this company formation will require the services of an expert local agent. Other local governments in the country of uae also allow limited liability company (LLC) registration.
For those entrepreneurs who are not resident in UAE, they may use a Company Formation UAE (CFUM) service offered by local agents. But they may not receive useful advice and assistance. The CFUM is only for corporations and businesses having at least ten shareholders. Besides, it requires you to use a nominee director and a nominee owner (the people who actually own or run the company). Therefore, if you are self-employed, you will need a nominee director for the sole purpose of avoiding tax and other indirect costs.
LLC company formation in Duba
For those businessmen who are resident in Dubai, an easier option for their setup is the setup of an International Business Corporation (IBC). This is an IBC which will have the advantages of being registered at a UIA without being considered as a full fledged company. Since you are not resident in Dubai when you setup an IBC, you will have to get a local sponsor who is a UAE national or an eligible non-resident. Sponsors must have a UAE business license and comply with all the corporate and trade requirements. These requirements are designed to make sure that the IBCs organized and run on fair practices throughout the economic development and growth in Dubai.
Limited Liability Company formation in Dubai also allows easy transfer of ownership from one entity to another. All the shareholders are treated as one entity for tax purposes. The advantages of this type of company formation in Dubai include the exemption of capital gains, double taxation on payments, unlimited liability and limited partnerships. Other benefits include no need for an IBC administrator, limited transfer of shares and partners and no need to pay corporate taxes on its income. It also allows the easy access to banking and offshore banking through a nominee director and nominee shareholder.
Before you decide on the type of company formation you want, it is necessary that you do a lot of research and thoroughly understand all the pros and cons associated with it. You can check with your local government officials and collect all the information you need. In case you are not aware of any Dubai laws, then you can seek the help of the attorney who specializes in this field. You can also go online and look for Dubai company formation services and professional companies offering these services. Open bank accounts in Dubai are easily available but you need to follow certain procedures and you should be aware of all the formalities.