LLC Services in Dubai: Things to Know
Business structures in Dubai are broadly classified into sole proprietorships, partnerships, and limited liability companies. Each of these forms has its advantages and disadvantages. But, the vast majority prefer a corporation such as incfile, as it is considered a legal entity separate from the owners. This usually means that the owners are personally liable for the company’s obligations only to the extent that they own the company.
Business in Dubai
Setting up a company in Dubai is complex and without a good understanding of the different types of companies and the registration requirements and procedure, it is often very difficult to succeed. In Dubai, this type of company can be owned by a GCC citizen, a UAE citizen, or even another company whose shares are wholly owned by GCC citizens or perhaps UAE citizens.
The name of the company must include the name of the owner and the LLC at the end. Shares of such a company cannot be listed on a stock exchange; additional requirements for a sole proprietorship must be met to go to town. For your limited liability company to be registered in Dubai, at least 51% of the shares must be owned by UAE citizens. Sole proprietorships and LLCs are subject to corporate tax, which is different from the tax on individual owners. Partnerships are owned by two people who may be limited or general partners. Profits are shared based on pre-agreed spouses and the relationship is taxed separately.
The owner is personally responsible for …