1. What is the minimum investment capital for Dubai LLC?
For registering your company and getting a trade licence in Dubai the requirement for minimum investment has been done away with. You can register your LLC company in Dubai without having to show capital amount in your bank account. However from the point of view of dealing with other agencies such as banks, financial institutions it may become necessary to show your company well capitalized.
2. How long does it take to get the LLC registered in Dubai?
1. It does not take long if all your documents are clear and complete and if your activity is trading or consulting. You will be able to get a license in less than 10 working days if you have identified an office space, sponsor and trade name and activity are not special.
LLC for licenses in activities such as food trade, restaurant, education, precious metals, security, construction, petroleum can take longer because relevant ministries are involved in granting No Objection Certificates. In some activities municipal permissions are required. LLC in such cases can take about a month to register.
3. What will it cost me to get a licence if I set up web design and computer software business in Dubai?
This activity is allowed. It comes under main category of Management Consultancy- Information, Marketing.
You need to take a local company licence from DED in Dubai. Licence will be in “Professional” category. The company type will be Sole Establishment. It will be owned 100% by you but will need local national as your Service Agent who will charge annual fee. Licenece will show Software and Web Design as permitted activity.
Cost of company and licence will be –
- Approvals and Legal- USD 411 +
- License Cost – USD 1600 per year +
- Service Agent Fee per year- USD4110+
- Expat partner Fee, English Name Fee and Market Fee- USD 825 +
- Consultant Fee
4. What is a Sponsor and Service Agent?
A local company in the UAE is required to operate with a Trade License. The type of license you need depends upon the type of activity of your business e.g. Trading in food items is an activity and will need a Trading license. The type of activity also determines the category of license. Two main categories are commercial licensees and professional licenses.
These licenses also determine the kind of company you must register. Commercial licence companies will normally need LLC type of set up. This calls for a Local partner who is called a Sponsor who holds 51% shares in your company. The Sponsor must be a UAE national or a UAE company or a GCC national.
Professional License companies can be owned 100% by the foreign owner but still need a local national to be involved as a Service Agent.
Both the sponsor and service agent charge an annual fee. However these are not rigid rules.You must seek a specific answer from the consultant giving your activity details to know the precise requirement of your license.