Why do I need a local sponsor in Dubai for company setup?
You may find a business for sale in Dubai, have an investment plan or even have a brilliant idea for starting a company in Dubai or any other emirates in UAE. Whatever your agenda, to start a commercial enterprise or establish a business, a foreign entrepreneur needs to collaborate under a partnership with a local sponsor in Dubai.
According to the legislation, companies in Dubai and across the Emirates need to formulate and register the business under the specific conditions implied, depending on the shareholding structure of the company. To establish a business in the mainland, it is compulsory for an investor of foreign origin to have a local sponsorship in Dubai, whereas even a freezone companies are bound to a local service agent at all times.
Even after being obligated, businessmen and foreign investors establish businesses under the limited liability company’s shareholding structure as it allows to take up a wide range of business activities and provides them several perks in terms of location and visibility. As per the Economic Department, a company setup with a local sponsorship in Dubai under mainland offers advantageous such as opportunities to do business in any part of UAE as well as with local and governmental bodies; no constraints in terms of visa application; no restrictions on office premises; more choices on business activities; etc.
A Dubai local sponsor could be an individual who is a UAE citizen or it could also be a UAE company registered under a UAE national or even several UAE residents. A company formed with the help of a single person who a local sponsor in Dubai is called a company under individual sponsorship, while a company registered under another UAE company is known as a corporate sponsorship.
Nevertheless, having a local sponsor in Dubai does require him/her to own 51% of the company, but Shuraa Business Setup provides you a great way to do business with you taking the lead. To secure your rights as a businessman under partnership Shuraa Business Setup offers the investor right and protection contract.
At Shuraa Business Setup take advantage of the Investor right and protection contracts that are certified and signed in the presences of two-witnesses from each side enabling you to have the power of attorney and mutual resting agreement with your partner. We draft all the business setup documents with utmost efficiency keeping your security and position intact at all time!
So if you would like to know about local sponsors in Dubai; would like to find the ideal Dubai local sponsor or have any queries related to starting a company in Dubai contact Shuraa Business Setup an answer to all your riddles concerning Dubai company setup and business in UAE.