A UAE onshore Limited Liability company (LLC) is a legal entity incorporated and licensed under the Department of Economic Development in each Emirate. Onshore companies can carry on business throughout the UAE as long as they possess the relevant licensed activity in each Emirate and retain any mandatory governmental approvals.
A minimum of 51% of the ownership of the LLC must be held by an Emirati (UAE) national either as a company which is wholly owned by Emirati nationals as a corporate shareholder or as an individual Emirati shareholder. The remaining 49% of shares may be held by the foreign party by a corporate shareholder or natural persons therein.
GCC Solutions provides clients with transparent corporate shareholding services.
GCC Solutions ensures that the ultimate beneficial ownership and control remain with the foreign party. As the corporate shareholder of the 51% locally held shares, GCC will not be commercially active in the daily operations of the company and will not be a party to any of the clients’ commercial or operational activities accordingly.
Our suite of corporate nominee agreements is structured to ensure that our clients’ interests are protected. Our clients maintain financial, operational and managerial control of their commercial interests in the UAE.
Foreign companies may incorporate a Foreign Branch or a Representative Office that is a wholly-owned subsidiary/affiliate of the parent company and 100% owned by the parent company. The foreign branch is permitted to carry out commercial activities in the UAE congruent with the business activities of the parent company subject to approval from the Department of Economic Development. A Sales Representative office is not allowed to carry out commercial activities in the UAE and must only carry out marketing and promotional activities on behalf of the parent company.
For a foreign branch and a representative office, it is a requirement to appoint a National Service Agent (NSA), which must be either a 100% Emirati owned corporate entity or an individual Emirati shareholder. GCC Solutions can act as the NSA in a corporate capacity for foreign companies to facilitate market entry for either a Foreign Branch or a Sales Representative Office.
A civil company is a business partnership for professionals such as doctors, lawyers, consultants and accountancy/auditing firms. This type of entity can 100% owned by a foreign party without the need for a local Emirati shareholder. However, a local, national service agent is required to interface with UAE labour and immigration departments accordingly.
GCC Solutions can act as the NSA in a corporate capacity for those professionals who wish to set up a Civil Company to facilitate market entry.
For more information on Limited Liability Company (LLC) Company Formation in Dubai, please contact us to arrange a consultation.