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Limited Liability Company (LLC) in Dubai - ChoiceUAE.com


Limited Liability Company - Dubai

Dubai, the name says it all. Dubai is one of the first business capitals of the world and has established itself as penultimate destination for the investors and business houses. Strategically located, this city is the gateway to the Arab world and the Emirates.

The place is most sophisticated one in not only UAE but entire Arab world and enjoys a first-preference advantage amongst tourists partly due to its tourism friendly policies also.

Owing to its eased business and investor norms Dubai has always attracted a high number of footfalls and has attracted attention of global investors and bigwigs of the business world.

Dubai is most populated emirate in the United Arab Emirates (UAE), having an area of 3,885 sq km it is the second largest emirate in the UAE. The governing bodies have given an edge to give a final say over crucial matters of national signification to Abu Dhabi and Dubai. The Population of this Rich City is over 2.1 million inhabitants. The dynamics of Dubai is fast changing and ephemeral, competing with itself. Today, Dubai has emerged as a universal metropolis that has grown immovably to become something better and bigger. It has arrived as a global city and a business and cultural hub of the Middle East and the Persian Gulf region. The city has become significant for its skyscrapers and high-rise buildings, in peculiar the world's tallest building, the Burj Khalifa leaving behind the Burj Al Arab. Dubai is considered as one of the best place to live in the world and has always tried building censoring competition with itself to emerge as improved, exceptional and superior.

Establishing a Limited Liability Company in the Emirate of Dubai

The registration procedures consist of numerous phases described as below:

Initial approval from Department of Economic Development, Dubai [DED]
The first and foremost step is to obtain a necessary trade name approval and submit the Registration & Licensing Application Form [duly completed and signed by all partners] with DED, Dubai for obtaining their initial activity approval for the LLC along with the following documents:
• Passport and family book copy of the UAE national partner
• Passport copy of the expatriate partner.
• NOC for the expatriate partner (in case he has an existing UAE residence visa)
• Passport copy of the expatriate manager [in case different from the partner]
• NOC from the sponsor for the manager [in case he has an existing UAE residence visa]
• If a company will be the 49% partner in the LLC, then corporate documents would be required including Memorandum & Articles of Association, Certificate of Incorporation, Share Certificate and a Board Resolution resolving to set up business operations in Dubai and for appointment of the representative and power of attorney for signing the documents on behalf of the company
• Passport copy of the representative of the Company.

Note:

Corporate documents listed above including Memorandum of Association, certificate of Incorporation, Board resolution and Power of Attorney of the corporate entity need to be notarized and attested by the UAE Embassy in the country of origin. These documents will further need to be attested by the Ministry of Foreign Affairs, Dubai. All corporate documents should be duly translated into Arabic and attested by the Ministry of Justice in Dubai

Notarisation of Memorandum of Association

Subsequent to the initial trade name and activity approval from DED one would need to prepare and notarize the Memorandum of Association. It is pertinent to note that all the partners or representatives of partners should be present before a Notary Public, Dubai to sign such Memorandum.

Obtaining a tenancy contract

Once the initial trade name and activity approval from DED is obtained, you can simultaneously locate an appropriate commercial premise for carrying out the activity. It is always advisable to obtain a preliminary approval from the Planning Section before signing the tenancy contract and making the payments

Furthermore, all lease agreement should be registered with EJARI under Real Estate Regulatory Authority (RERA). Typically the registration with EJARI is processed by the landlord at the time of signing the tenancy contract.

Submission to DED for obtaining license

Thereafter, the business premises are inspected, if relevant. Subsequently, the following papers along with the documents mentioned for activity approval, needs to be submitted to DED, Dubai:


• Approved Registration & Licensing Application Form
• Initial trade name and activity approval provided by the DED
• Notarised Memorandum of Association of the LLC
• Copy of the tenancy contract, Affection Plan, DEWA receipt for the office premises and EJARI Registration

Once all documents and papers are accepted and verified, the DED will issue the payment voucher for obtaining the commercial license for the LLC.
Set up costs The cost for setting up a LLC in the Emirate of Dubai is mentioned in Annexure A. Time Frame for formation of the LLC

We estimate a time frame of about 10 to 12 working days from the date of receiving the relevant documents to complete the entire process and obtain the license for the LLC.

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