One can set up different forms of companies in the regions of UAE. These multiple legal types of businesses have their own benefits to offer to the people. Before you leap into setting up any company in UAE, it is important to be aware of the legalities involved in the process. Select that category of company setup which suits your interests and needs the best. Both mainland companies and free zone business setups are permitted in the areas of Abu Dhabi, Dubai and the other emirates of UAE.
Starting A Sole Proprietorship Business:
This legal entity or firm gets operated by one individual. It is important to know that the industrial or commercial type of sole proprietorship firm in UAE can only be owned by its nationals or by the GCC nationals. Any other type of business can be started in the country by the foreign nationals. There is no requirement of any minimum amount of capital for starting this type of firm. The trade name of your company must be related to the activity that you perform.
Forming Of A Civil Company:
This company is the partnership of various professionals belonging from different fields like lawyers, doctors, accountants, and engineers. People belonging to any nationality can be partners in this type of company. If in the partnership, there is no member who is the GCC or UAE national, then the company requires a service agent from the locals. If your civil company is conducting business in engineering activities, then there must have one UAE national partner in the firm with 51% of its holding.
Forming Of The Limited Liability Company:
This type of company has about 2 to 50 shareholders. Their liability only extends to the number of shares that they hold in the company. However, no consultancy or professional activities excepting insurance, banking or investment can get conducted by an LLC. Commercial or industrial ventures can be started by the LLC. The auditor of the company must be the UAE-accredited one. 51% ownership of the LLC must be in the hands of UAE nationals but there can be a different ratio for profits.
Partnership Company Formation In UAE:
Here, two partners or more have the ownership of the company. The provisions of this company setup specify that the general partners must be UAE nationals while the limited partners can be from other nationalities. The limited partners never interfere in the issues of administration and management of the general partners. No restriction, however, gets imposed on the ownership share of the limited or general partners.
The above-discussed types are the basic forms of the company in the UAE while there are many others like representative offices, branches of Dubai-based or UAE-based companies, etc. Dubai Business Setup has a committed team of business setup consultants who are conversant with every prerequisite associated with starting any type of business in UAE. Our services are affordable and help professionals in achieving their goals easily.