If you are looking to establish a business in the UAE, then getting a Local Sponsor in Dubai is imperative, especially for businesses with industrial or commercial license.
Local sponsors are local agents or shareholders for setting up a company in the UAE mainland with foreign investment. They are also referred to as sleeping partners and have to be a UAE resident or national. They should have a Gincia, which is a family membership card in Dubai.
Requirements for incorporating a limited liability company
Requirements by the UAE Civil Law and UAE Companies Law for creating a limited liability company on the UAE mainland.
- The company should a non-offshore and in a non-free zone
- The mainland LLC should have 51% equity for the local sponsor
- The other 49% ownership and the profits to be disturbed amongst the concerned parties
- The concerned parties have to agree upon such ownership or profit distribution
- The Memorandum of Association may contain information that grants operational powers to the foreign partners
- The nominee partner should be the UAE nationals or the companies owned wholly by them
Criteria for choosing a sponsor in Dubai
When you need a local sponsor in Dubai varies on the basis of your business type, trade license, etc. It also depends on the type of sponsorship you are selecting such as individual, local, or corporate sponsorship.
Basic factors to keep in mind while looking for a local service agent
- The magnitude of interest a sponsor has in your business. Unlike an ex-pat who has an interest in your business and looks after it, sponsors have more to do with the services they provide and the profit sharing.
- The profile of your local sponsor. It is up to you whether you want a highly qualified sponsor or do well with a person with an average understanding to provide services.
- Analyzing the different worst-scenarios that can happen if you face difficulty with your sponsor.
- The benefits you get with a local sponsor. Being a UAE national, a local sponsor knows more about the local market, and forming an LLC with them also makes it tax-free.
But you do not have to spend type on finding a local sponsor if you hire Business Link UAE to find one for your company.
Let us find a reliable UAE national for you!
Business Link UAE is your best option to build your company in Dubai by finding a trustworthy and dependable local sponsor. Our range of services includes setting up your business, getting its trade license, and finding the most reliable local sponsorship for it.
A local sponsor is someone who holds the 51% share of your company, therefore, you cannot take this tough task of hiring a local agent on your shoulders. With our local sponsor service in Dubai, you can be rest assured to get a dedicated and faithful sponsor for your company or business.