Establishing a limited liability company in Dubai become one of the most sought-after types of companies individuals aim to establish, particularly in the Emirate of Dubai. This is due to several advantages provided by the government and facilitated by Tasyeir Company, that possess characteristics that help their owners grow their businesses, facilitate profitability, and achieve rapid development. However, initially, you need to understand this type of company and how you can establish it in Dubai, along with the required documentation. All of these topics and more will discuss in the article.
Establishing a limited liability company in Dubai
Before outlining the steps to establish a Limited Liability Company, it is important to understand more about this type of company, that are characterized as follows:
- Limited Liability Companies provide their owners with a certain level of liability and control over the company, based on their respective shares.
- Typically, these companies have 2 to 50 shareholders in a single company.
- The number of directors can reach up to eleven members, who can be either citizens of the country or foreigners.
- This allows foreigners to establish these companies in Dubai or any other region. Additionally, their activities not limited to a specific field, as they can engage in professional, industrial, or commercial activities.
Steps to establish a limited liability company
Successfully and systematically establishing a Limited Liability Company in Dubai requires arranging some essential steps, including:
- Firstly, you determine the type of activity you will engage in with your company. This will help you identify the authorities from which you need approval and the necessary documents to prepare.
- You should choose a company name.
- You should obtain all the necessary approvals and prepare all the required documents for submitting the company establishment application.
- You can collaborate with a legal translator to translate all the documents.
- You should prepare the partnership agreement, which must sign by all shareholders or their representatives.
- After you prepar all the documents, submit them to the Economic Department and await approval.
All of these steps carried out by Tasyeir Company to serve you, without exaggeration in service prices. It is the ideal choice for you!
Important documents required to establish a company in Dubai
Preparing all the necessary papers and documents for the company is a crucial step in its establishment.
Therefore, we will introduce you to all these documents in the following lines:
- You complete application form for establishing a Limited Liability Company in Dubai.
- You should obtain the approval document for company establishment, including its trade name.
- As well as, application form for obtaining the commercial license.
- Having the company’s Memorandum of Association that outlines its basic regulations, duly notarized by a legal notary.
- Lease agreement for the company’s premises, ensuring it is authenticated by the Civil Defense Department and the Municipality.
- You should provide reference letters indicating the number of shareholders in the company, which can obtain from a UAE bank.
- As well as you should offer photocopy of the national ID or passport.
These documents are essential for establishing a company in Dubai and should be prepared accordingly.
Advantages of establishing a Limited Liability Company
Owning a Limited Liability Company in Dubai provides you with several advantages, which summarized as follows:
- Shareholders can obtain residency in Dubai without facing any issues or having to pay additional deposits.
- As well as, the company can be established in a free zone or any other area within Dubai.
- There is no requirement to pay personal taxes or any other form of taxes imposed on companies.
- Facilitated procedures for opening a company bank account.
- The company has the flexibility to invest in any field.
- As well as, the company’s profits can send to the investor’s home country without any obstacles, particularly for foreign shareholders.
These advantages make establishing a Limited Liability Company in Dubai an attractive option for individuals seeking to start a business in the region.
Errors prevent establishing (L LC) in Dubai
Sometimes, the application to establish a Limited Liability Company in Dubai may be rejected due to several reasons identified by experts, including:
- You fail to submit documents proving approval from the owner of the company’s premises.
- You offer damaged or incomplete required documents.
- Submission of documents that are not authenticated or lacking the necessary stamps from relevant authorities.
- You fail to provide a receipt confirming the payment of administrative fees or non-payment at the time of document submission.
- Rejection due to a lack of approval from the consulate or embassy governing the individuals involved, especially when foreigners are establishing the company.
- In rare cases, rejection may occur due to officials failing to properly review the application file. In such cases, there appear to be no legal reasons for the rejection, allowing you to appeal the decision after three months of its rejection.
It is important to ensure that all necessary documents are properly prepared, authenticated, and submitted, that increase the chances of a successful Limited Liability Company establishment in Dubai.
Leading Tasyeir company in administrative services
In the end, establishing a Limited Liability Company in Dubai paves the way for full ownership, even if you are not a citizen of the country. However, it is important to ensure that this company is established in a free zone. This is where Tasyeir company excels in testing the best approach. Additionally, it have a local service agent assists the shareholders of the company in dealing with relevant authorities.
