Limited Liability License Formation
The LLC Company allows having a flexible profit sharing among sponsor and expatriating. The UAE national can be offered a fixed fee annually with a percentage of profit or sale. As per the norms of the LLC in UAE, a UAE national must own 51% of the shares in the company and the expat investor owns the remaining 49% of the shares.
A limited liability company can be easily and conveniently formed by the participation of minimum 2 or maximum 50 persons whose responsible for the share in the capital’s company owns. It is one of the most popular methods because through this, the investor doesn’t have to disclose the assets or accounts.
Needed details for an LLC License
- Trade name of the company
- Registered office location
- Names, nationalities, and addresses of the shareholders
- The share capital of each shareholder
- Names and nationalities of the company managers
- Scheme of distribution of profits and losses, which may not necessarily be in the same proportion as the share capital.
LLC Licensing is best option for an investor because it can accommodate mostly all the commercial activities in UAE.At Present there is no need for Minimum capital requirement to form the company as in August 2009 the minimum capital requirement law was abolished. In this license the Partners can appoint a Manager to run the business among them or to a third party. The minimum share required to get a Partner Visa in LLC is 24% in the license.