From New York to London, from Frankfurt to Hong Kong, businesses today are looking to gain the competitive edge to diversify their presence
The Middle East and Asia including India, China, Saudi Arabia, Hong Kong, Egypt, and UAE is home to millions of businesses and investors, most of who fall within the business target markets.
Whilst the limited liability form of company mandates fifty one percent shareholding by local UAE nationals, a free zone entity would be beneficial to those who are interested in owning one hundred percent shares in the company.
We now discuss the different alternatives that individual investors and companies have to set up their presence in Dubai or generally speaking in the United Arab Emirates.
The UAE Commercial Companies Law (Federal Law Number 8 of 1984) distinguishes a limited liability company from that of a branch or a professional company.
Post independence and prior to coming up of the Federal companies law, each state within the United Arab Emirates adopted its own independent procedures for company incorporations in Dubai. Accordingly, company formations in Abu Dhabi or forming a LLC in UAE were under individual state controls. In 1984, the United Arab Emirates enacted the United Arab Emirates' Commercial Companies Law (Federal law number 8 of 1984, as amended subsequently by the Federal law number 13 of 1988). Consequently, the Companies Law provided for different forms of entity available to register for domestic and foreign investors. There are free zones in Dubai and throughout the United Arab Emirates that allows expatriates, investors and companies to incorporate a freezone company and own one hundred percent (100%) ownership in such free zone companies. The Companies Law provides however that a limited liability company whose liability is limited to the sharecapital must have a local UAE partner who will hold minimum fifty one percent shares in such company
A UAE or Dubai freezone company on the other hand allows you to own one hundred percent shares under your name and exempts you from paying any customs duties on exports or imports which would otherwise be levied if you were operating as a limited liability company
If you are desirous to register llc in Dubai you should consult Dubai Law Firms.
We offer incisive and valuable advice on company incorporations in Dubai.
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