If you want to know steps to establish a limited liability company in the Emirate of Dubai, then you should review some of the details and conditions for this type of company, as there is a list that includes a number of legal forms for companies that are established in the Emirates, each of which includes different procedures and establishment costs, by cooperating with Tasyer company, you can learn all the details of this matter, as a group of specialists in this field will help you.
Steps to establish a limited liability company
As a result of limited liability companies having many advantages over other types of companies, a very large number of investors have turned to them recently, making them among the most famous entities in the field of trade in general.
But do you know what the name of this corporate legal structure means? This term was launched based on the company’s working mechanism. As it is established by two or more partners with a maximum of 50 partners. And each partner becomes responsible for its own financial share only.
Meaning that all business obligations or gains, losses and debts to which the company is exposed. Each partner is responsible for them to the extent of the percentage he owns only. But the number of members of the Board of Directors must not exceed 11 people.
Also, when you want to know steps to establish a limited liability company, you can practice most types of commercial activities that you want, but according to the laws related to this matter, you cannot practice the following activities:
- Health care.
- Tourism activities.
- As well as, Educational services.
- Shipping and related logistics activity.
- As well as, Engineering and architectural consulting.
How do I establish a limited liability company?
As is the case when establishing any type of company, you must follow some important steps. Through which you can obtain a commercial license without which a business cannot be started. But there is no need to worry as the Emirate of Dubai provides many facilities in this field.
In addition, Tasyer company provides you with many services that help you complete all the required procedures easily. And the most important steps for establishing the company are the following:
- You must determine the type of commercial activity that you wish to engage in within your company. As there are a large number of activities available within the emirate.
- This is in addition to choosing a name that expresses the company, which is the “commercial name,” which must be very distinctive, consistent with the customs of the country and does not contain any violation of the laws. And it is appended to the symbol for the legal form, which is (LLC).
- As well as, in addition to obtaining initial approval, which confirms the government’s approval to establish the company.
- Then submit the papers detailing the company’s headquarters and its contracts, whether rental or ownership.
- In addition to the necessity of opening a bank account in order to deposit the value of the company’s capital.
- You must also sign an agreement with a local service agent, so that he can help you obtain the required licenses.
- In addition to paying the due establishment fees.
- Finally, after completing the previous steps correctly, you can obtain the commercial license.
What are the advantages of a limited liability company?
It is known that establishing a limited liability company is one of the most common actions that many people undertake in the Emirate of Dubai, but do you know why? Through the following, we will explain to you the most important advantages of this legal form, which are:
- It allows the company to be established by a very large number of partners, which helps to expand and spread better.
- This type of company also greatly increases investment opportunities.
- In addition to the possibility of exchanging shares between partners.
- In addition, it is flexible, as taxes can be imposed in several ways, whether it is a sole proprietorship or a partnership.
- The company is also not affected at all if one of the partners withdraws or dies.
Tasyer company is your ideal destination
We have mentioned to you all the details related to establishing a limited liability company, which is considered one of the most famous legal forms in the Emirate of Dubai in particular. As a result of its many advantages that help the investor achieve the success he desires. And seeking the help of pioneers in the field of establishing companies such as Tasyer company Very important.
