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


Limited Liability Company - Sharjah

Limited Liability Company (LLC) in Sharjah

Sharjah is one of the seven emirates of the United Arab Emirates. It is located towards the north coast of the Persian Gulf and shares its border with Dubai towards south.

Sharjah covers an area 2,600 sq km (1,003 mi²) and is the third largest of the emirates. It comprises the city of Sharjah, Kalba, Dibba Al-Hisn and Khor Fakkan. With a population of over 800,000 it is the third most populous places in the UAE. Commonly called as the City of Arts and Knowledge the city is known for its panache of culture and heritage.

In 1998 UNESCO’s anchored it as Cultural Capital of the Arab World and since then the place has dwelled as an epitome of culture and arts.

Traditionally being dependent on Oil exports for its economy Sharjah has always been the cultural and educational capital of the UAE. The city is known for promoting Sports (Cricket and Football), local arts and Museums.

Below is the list of 17 Museums in Sharjah:

El Eslah School Museum

Sharjah Art Museum and Contemporary Arab Art

Al Mahatta Museum

Bait Sheikh Saeed Bin Hameed Al Qasimi

Sharjah Archeology Museum

Sharjah Maritime Museum

Bait Al Nahboodah

Sharjah Museum for Islamic Civilisation

Bait Khalid Bin Ibrahim

Sharjah’s Natural History & Botanical Museum

Sharjah Calligraphy Museum

Sharjah Science Museum

Sharjah Discovery Centre

Sharjah Aquarium

Sharjah Heritage Museum

Majlis Al Madifaa

Sharjah Hisn

 


Establishing a Limited Liability Company in the Emirate of Sharjah

The registration procedures consist of numerous phases described as below:

Initial approval from Department of Economic Development, Sharjah [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, Sharjah 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 Sharjah 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, Sharjah. All corporate documents should be duly translated into Arabic and attested by the Ministry of Justice in Sharjah.


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, Sharjah 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, Sharjah:

• 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 Sharjah 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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