Dubai is known as one of the most renowned destinations globally for starting a business. Entrepreneurs from around the world including the United Kingdom are interested in setting up companies in Dubai. One of the most preferred legal structures is LLC company formation in Dubai. Company formation in Dubai opens up various opportunities for British entrepreneurs. Furthermore, it gives them access to a broader market and a vast professional network.
Along with a lucrative business environment, world-class technology, modern infrastructure, talented workforce, and a highly supportive government, there are several other benefits of LLC company formation in Dubai. Those contribute heavily for it to be one of the most common forms of company in the mainland region. Furthermore, if you are willing to start LLC formation in Dubai, you must know the steps and costs involved in the LLC Dubai registration process. But first, let’s learn why you should establish an LLC in Dubai.
Why Do LLC Company Formation in Dubai?
If you are wondering why entrepreneurs prefer setting up an LLC Dubai, there are several benefits of a Limited Liability Company in Dubai. A few significant benefits of LLC formation in Dubai are as follows:
- The DED allowed a wide range of business activities to choose from to set up an LLC Dubai.
- Eligibility to sponsor family and relatives.
- Add more staff to your business without hassle through visa quota.
- Enhanced credibility for opening a corporate bank account.
- Easily buy real estate in UAE under the company name.
- Allowed to take up government projects and assignments.
- Freely trade in the local as well as international and GCC markets.
- Enjoy 100% repatriation of profits.
- 2 to 100 business partners.
- Zero minimum capital requirement.
What is the Process for LLC Company Formation in Dubai?
Follow the given steps to complete the registration process for LLC company formation in Dubai.
1. Nature of Business and Business Activities
Choose the nature of your business and then select appropriate business activities. You can choose up to 10 business activities from 2000 plus available activities on one business license.
2. Trade Name Reservation with DED
Select a suitable trade name for your company and reserve it with DED. Make sure the name you decide on does not include any foul words, abbreviations, or references to any God or religion. Moreover, if you wish to name it after a person, use their full name. Also, another essential thing to remember is that your company name must end with the abbreviations of your company’s legal structure. (For example, Ltd. Pvt.)
3. Get Additional Approvals
The next step is to get the additional approvals from the Department of Economic Development (DED). Submit the required documents and wait by the time government officials inspect them. You only need to get the additional approvals in case of special activities, in case of restaurants for hygiene and dimensions, etc.
4. Draft MoA and AoA
Now, prepare the Memorandum of Association and Articles of Association. Once drafted, get it signed by all the business partners in front of a public notary. These contracts are essential for completing the registration process.
5. Apply for Initial Approval
Next, submit the documents to get initial approval for LLC Company Formation. Wait by the time government officials inspect all your papers, and if everything is in place, you will get initial approval.
6. Rent Physical Office
Rent a physical office space to conduct your business activities. This will be your official address, and you must use it in all business-related documents. Furthermore, note that all the business-related documents, parcels, bills, and other stuff will have this address on them. Moreover, once sure about the office space, register it with Ejari to get your tenancy contract and unique Ejari Code.
7. Register With Ejari
Furthermore, submit the tenancy contract and the initial approval documents to get your LLC Dubai license. You can apply for a commercial license, Industrial license, or a tourism license, depending upon the business activities you choose.
8. Open A Corporate Bank Account
Apply for a residence visa, get your Emirates ID, and open a Corporate Bank Account in Dubai. A corporate bank account will help you with smooth and secure financial transactions. Also, you can avail yourself of all the premium services provided by the bank for a lifetime without any inquiries of hindrances.
What are the Documents Required for Initial Approval?
The list document you need for initial approval for LLC Dubai formation is as follows:
- Application form
- Trade name reservation slip
- Copy of passport
- Copy of visa
- Emirates ID
- MoA and AoA (Signed by all the partners)
- No Object Letter
The list of documents you need for final registration is as follows:
- Tenancy Contract
- Unique Ejari Code
- Initial Approval Certificate
- Membership at Chamber of Commerce.
- Proof of Official Address
- Makani Number
- Business Plan
- Colored, passport size photographs
- Colored photocopy of the first and last page of your passport.
- Copy of stamped visa.
What is the Cost for LLC Company Formation in Dubai?
Knowing the benefits, the registration process, and documents required, you must now be wondering about the Dubai LLC formation cost. The cost for an LLC company formation in Dubai can be anywhere between AED 25,000 and AED 27,000. This cost can vary depending upon the nature of your business, business activities you select, the size of your business, and other additional elements.
Apply for Your LLC Company Formation in Dubai
Now that you are well aware of the process, paperwork, benefits, and costs involved in LLC company formation in Dubai, you are ready to form an LLC Dubai. However, gathering all the required documents and getting approvals from concerned departments. To make this tedious task less hectic and complete it faster, you can seek help from company formation experts.
Experts at the UK branch of Shuraa Business Setup for company formation in Dubai are well aware of all the steps involved in the registration process. They will walk you through the whole process, help you draft a detailed plan, gather necessary documents, and also acquire necessary approvals. Moreover, they will also guide you to rent a suitable office space for your company. Furthermore, you can rely on them to get a license for a Limited Liability Company in Dubai at a minimal cost. All you need to do is give us a call, tell us roughly about your business plan and requirements, and we will take care of it all.