One of the key advantages of forming an LLC in Abu Dhabi
forming an LLC in Abu Dhabi
In order to set up a limited liability company in the Emirate of Abu Dhabi, applicants must first determine which business structure best suits their needs. LLCs are the most popular type of entity in the UAE and are easy to register. Depending on the type of business you want to start, you will likely have to pay a minimal registration fee, but the fees are minimal when compared to other jurisdictions.
One of the key advantages of forming an LLC in Abu Dhabi is the limited liability aspect of the structure. As an LLC, its shareholders are only liable for any unpaid capital investment. You do not need to have a large capital investment in order to form an LLC in the UAE. Foreigners can own up to 49% of an LLC, and the sponsor can guarantee you at least 100% of the profits. If you are interested in a UAE trade license, be sure to choose a trade name that does not mimic another legal entity in the UAE. The trade name reservation form will help you choose a name that is unique and does not have any relation to any other UAE legal entity.
Unlike many other forms of business entity, LLCs in the UAE require limited liability. This means that the shareholders are only responsible for the unpaid capital investment made. Generally, an LLC requires two shareholders and one manager. There is no minimum capital requirement for an LLC, and foreigners can own up to 49 percent of the company. If you wish to own more than 50%, you can have a UAE sponsor guarantee 100% of profits to foreign investors. If you are a foreigner and are looking to start a new company, be sure to read up on the legalities of setting up an LLC in the UAE.
LLC Company Setup in Abu Dhabi
One of the key advantages of forming an LLC in Abu Dhabi
The UAE CCL introduced several changes that were previously not included in the old law. For example, the articles of incorporation must include the date of birth of each shareholder. While this was not required under the old law, it is now mandatory for the articles of an LLC to include the names of all shareholders. In addition, the UAE CCL requires that LLCs must comply with International Accounting Standards (IAS) instead of the old CCL that permitted the use of any standard.
An LLC in the UAE is considered to be a limited liability company in that its shareholders are not directly responsible for any debts. The UAE government provides an exemption for companies in these jurisdictions, but it is not possible for foreign entities to own more than 49% of an LLC in the Emirate. In addition, an LLC is required to have a trade name that is unique and not similar to any other legal entity in the UAE. The UAE is not a tax-free country, so it is not advisable to register your business in the country.