When it comes to LLC Company Formation, the most important aspect of this legal form is the involvement of a local UAE sponsor. The Sponsor for an LLC Company could be either an individual or a corporate with UAE nationals as the shareholders.
There two ways of appointing a Local Sponsor in Dubai for your LLC Company. One is choosing a UAE national as your local partner and the other choosing a UAE National Owned Company as your Local Sponsor.
Choosing Your Local Sponsor for Your LLC Company in Dubai
Choosing your Local Sponsor for an LLC Company is a very crucial part and it forms the backbone for the existence and continued business operations of the company in UAE. Hence, the decision has to be well-informed and with a full understanding of the terms and conditions of the contract.
With experienced business consultants like Aurion, the hassle of finding out the perfect UAE local sponsor has become easier. Aurion will assist you with a UAE local sponsor as well as a corporate sponsor based on your specific requirements and nature of business.
Things to Know before you choose your Local Sponsor in Dubai
Our legal experts will prepare 100 % legally complaint side agreements to protect your shareholding rights. The agreement will have it all clearly defined, the expectations, responsibilities and the Annual Sponsorship fees, and other specific clauses.
With our Local Partner assistance support, you will have 100% financial and operational control as well as securing your ownership rights. The local partner will have no involvement in your business operations and by virtue of the agreement created, all the operational and management rights will be vested with the foreign investor.
A yearly Sponsorship fee has to be paid to the local UAE partner to continue the partnership agreement. There is another type of local Sponsorship, that is instead of an individual a UAE local company can become the local sponsor for you.
Corporate Local Sponsor in Dubai
A Corporate Sponsor can act as your UAE local partner (51% share) and pass on the ownership rights to you for a Fixed Annual Sponsorship Fee. The Annual Sponsorship Fee will be fixed and will have an agreement that there will be no variation depending on the increase in turnover or profitability of the business.
The key benefit of a Corporate Shareholder is that the foreign investor will be dealing with a company that is a separate entity and has no interest in the daily business operations or ownership of the new company. There will be legal complaint side agreements, power of attorney, and other legal compliance documents stating the clear shareholding pattern and other ownership and operational responsibilities.
Key Benefits of Corporate Sponsorship
Corporate Sponsorship for LLC Company formation in Dubai will help in raising investor confidence and lowers the resistance of investors in finding and building rapport with an individual local UAE sponsor.
1. No Involvement in Daily Business Operations
The corporate sponsor does not get involved in the day-to-day running of the company enabling the foreign owner to have complete management control of staff, clients and product offering.
2.100% Financial Power
The business profits generated are vested with the foreign owner and are not to be shared with the Corporate Sponsor at any instance.
3. Shareholder Agreements
Corporate Sponsors have well defined and drafted legal contracts in place to protect both parties.
Hence, the authenticity of the legal form is assured and shareholder rights are protected well.
Aurion has a network of Corporate Sponsors as well as Individual partners for LLC Company registration in Dubai.
Also, for professional license requirements, we will assist you in finding the right Local Service Agents.
The Requirement of Businessmen PRO Services in Dubai
Along with finding the right Local Sponsor in Dubai for starting an LLC Company. Engaging a trusted businessmen PRO Services is a pre-requisite for the smooth operation of business setup and continued operations.
Businessmen PRO Services will handle numerous activities starting from all the company setup procedures, visa processing & Immigration, other documentation & attestation, to administrative works.
Businessmen PRO Services in Dubai
Aurion Business Consultants provide the best-in-class Businessmen PRO services in Dubai and the rest of UAE. We have dedicated PRO agents for each Free Zone and for the Mainland Company Setup. They are experts in the field of visa processing assistance, application form preparation and immigration service assistance.
Aurion has strategically crafted an all-in-one exclusive Businessmen PRO Service Package to assist you in the end-to-end Company Setup process and beyond that. Our PRO Services cover the following areas and more. We ensure you have the most hassle-free company set up in Dubai.
- Visa Application form Preparation & Submission
- Labour and Immigration Cards
- Approvals and Renewals of Trade License
- Emirates ID Application
- No-Objection Letters
- Labour Contract Preparation
- Legal Translation and Notarization service
- Ejari Documentation
- Power of Attorney Attestation, Shareholder Resolution Document Preparation
- Memorandum of Association typing
- Local Service Agent Agreement
- Document Clearance & Amendments – Free Zones & DED
- Liaising with Government Authorities & Free Zone Authorities
- Company Cancellation documentation
- Additional Approvals and Clearance for Company Setup/Company Closing
- Import/Export Code & Customs Registration
- Trademark Registrations
- And many more…
So, in a nutshell for a hassle-free LLC Company Registration in Dubai, taking the assistance of an experienced Business Consultant is important.
They will assist you right from choosing your local partner to undertaking all the businessmen PRO Services and ensure your company registration process is executed the right way.
Interested to know more about LLC Company Formation in Dubai or Company Liquidation in Dubai, give us a call!