23 07 2020

Advantages of opening an LLC in the Emirates

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The Department of Economic Development of Dubai regulates the process of registering a business and obtaining the necessary licenses for commercial activities. The UAE government is trying to provide everything necessary to increase economic potential, foreign funding, increase investment attractiveness and stimulate economic development in the country.

In the first place, the work of the Department is aimed at:

    • Providing the economy with everything necessary, from financial to technical resources, developing the country's creative and technical potential;

    • To be the first in the field of attracting foreign investment and local investors, to improve economic attractiveness;

    • Supporting the development and diversification of economic sectors, as well as adherence to the State Development Plan.

 The main advantages of registering LLC (LLC) are:

   • liability is limited to a share of the capital;

   • the ability to conduct business not only in the UAE, but also outside of it;

   • bank accounts are available for foreign businessmen;

   • almost limitless choice of activities. The exception is the insurance sector and the banking sector, as well as investment activities in favor of third parties;

   • all available assets, as well as capital, work from the firm itself;

   • as soon as the company is registered, it becomes possible to open a branch;

   • obtaining a residence permit for the investor himself and his family;

   • there is no possibility of issuing shares with public access, which means full control is retained;

   • differentiation of assets owned by investors and the liabilities of the firm itself.