If you are looking to establish your business in the UAE, a Limited Liability Company (LLC) structure may be a preferred choice. For all services and assistance relating to company incorporation, you can reach out to GCC Filings and the company will take care of a host of other services including VAT registration, return filing, accounting, auditing and more in the UAE.
Key Benefits of Setting up an LLC
There are several advantages of establishing LLCs in Dubai. Here’s taking a look at some of them:
- Affordable operations- LLCs have lower set-up expenses for investors, making them preferred options for several businesses and expats. LLCs may or may not have limitations relating to the minimum capital. This will majorly depend on the size, nature and type of business activity that is being considered.
- Swift setup- You can get your company registered swiftly with the DED (Department of Economic Development). The entire process requires only 90 minutes and you do not require any lease agreement as well. While establishing a Dubai LLC, you can get licenses for a wide range of activities.
- Selecting the Locality- The fast process makes LLCs extremely lucrative for businessmen or entrepreneurs. There are lower restrictions on the business types that will be conducted and you can set up your business almost anywhere in Dubai.
- Visas for Investors- Expats setting up Dubai LLCs can get specific advantages through registration as investors. Investor visas can be easily obtained post furnishing of necessary documents to the relevant authority of the Government. Post getting investor status, expats and their families will be in a more advantageous position.
- Setting up branches- This particular legal structure of the company enables easy formation of branches. This is made possible since with this structure, you can easily get noticed in the market and carve your niche. Post garnering higher market share, you can directly transact with local markets before expanding with branches all over Dubai and the UAE.
- Additional benefits- Some of the extra benefits related to setting up LLCs include zero fixed capital requirements, zero payment of taxes, no restrictions for ownership of offices or other properties in the UAE and easy opening of corporate bank accounts.
How to Setup an LLC in Dubai
The formation procedure for LLCs in Dubai is quite simple and there are a few steps that you must keep in mind:
- Select an organizational and legal company structure. This legal structure should be beneficial for the organization and should adhere to all necessary Government rules and regulations.
- You should choose a company name and decide on the activities or business niches that you will be focusing on.
- You should select a company location and you should look at factors like market proximity, transportation availability, geographical position and others before taking the final decision.
- Gather all necessary documents and furnish them before the DED (Department of Economic Development). You may also require specific approval from authorities on the basis of the business activity that is being executed.
- You should then set up an office or a warehouse for your company.
- You can then start your business operations.