UAE is the business hub and undeniably has made a presence across the world as it offers a myriad of opportunities and benefits. Dubai is one of the most desirable locations around the world to start a business in the free zone.
Dubai is highly developed and offers huge benefits as they have world-class infrastructures, global connectivity, a flourishing economy, and many more. The UAE freezone can easily accommodate foreign investors as they can set up their businesses and retain a series of benefits.
What is a limited liability company in the free zone?
The free zone establishment or free zone company is one of the limited liability companies which is formed and governed by the rules and regulations of the free zone.
The free zone has two company structures for the businesses such as
- Free zone establishment limited liability company.
- Free zone company limited liability company.
The Free zone establishment limited liability company has a single shareholder and the whole free zone company has multiple shareholders. The structure of the free zone LLC in Dubai and other emirates also means that you can only take the losses up to the amount which you have invested in the company, not more than that.
The professional and commercial trade license means that the free zone company structure is going to be LLC by default. For the mainland, this isn’t possible. Freezone companies can easily retain a credit letter with the bank in which the investor has an account.
Who can retain a professional license in the free zone?
The professional license is issued to a series of individuals who are in the service sector. Whole businesses require individuals to use their energy and intellectual thoughts for obtaining a professional license. The professional trade license in Dubai is offered to management consultancies, design agencies, artisans, service providers, and much more.
Process of obtaining a professional license in the UAE Freezone
To obtain an LLC license in Dubai you have to follow the process
- Start by selecting the ideal jurisdiction for the company.
- Apply for the company registration
- Submit all the required documents depending on the chosen free zone.
- Pay the amount for the license.
Documents Required to obtain a Professional License with LLC Structure in UAE Freezone
- Application form and certificate of incorporation.
- Passport copy of the investor and investors.
- Vias copy of the investor and investors.
- Emirates copy if required.
- Two colored passport-sized photographs with white background.
Above-mentioned documents along with submitting some additional documents depending upon the selected free zone.
Benefits of setting up an LLC Company in UAE Freezone
The benefits of LLC company formation in Dubai, UAE
- 100% foreign ownership.
- Full repatriation of capital and profits.
- The exception from all the import and export duties.
- There are no personal, corporate, or export duties.
- There is a wide range of business activities.
- There are various options available for office space.
- The UAE Residence visa for 3 years.
Which freezone is the most ideal to start an LLC Company?
If you are looking to retain the professional license with the LLC structure then Dubai is the best place to begin. The IFZA or International Free Zone Authority is one of the leading investment hubs in the UAE.
The setting up of a business in IFZA includes
- 1 free lifetime investor visa.
- The investor is not required to submit an annual audit report.
- There is no paid-up share capital requirement.
- There is no requirement for employee guarantee deposits to the free zone.
- Their investors have permission to have a virtual office.
- The investor is not required to be physically present during the formation of the company.
- The NOC is not required from the current visa sponsor.
FlyingColour Business Setup Dubai will help you from scratch and the entire process of setting up a business goes smoothly. Our team of experts works around the lock to make things easy for you from documents to setup. Our experts guide you through the entire process from registration to helping you understand the benefits of a professional license and how you can use these benefits for long-term growth.
Get in touch with us now.