How to find a local UAE sponsor?
Finding a local UAE sponsor who is reliable and encourages your business outlook could be a tough task, especially if you are new to the country. Anyone willing to start a business in Dubai or anywhere across the various emirates, initiate the process by looking for UAE local sponsorship. Finding a local UAE sponsor is the most crucial aspect of setting up a business. This is mainly because if you end up with a wrong sponsor, it will not only mess your business but also create difficulties in regulating your company.
However, before we explore the path of finding a local UAE sponsor, let us understand what local sponsorship in UAE, who and why do you need it.
What local sponsorship in UAE?
According to the commercial companies’ law, setting up a limited liability company mandates you to have a business partner. Local sponsorship in UAE basically means that you need to partner with a UAE national also referred to as an Emirati.
The partnership or local sponsorship in UAE is contracted as per the Article 10 (1) of the Federal Law No. 2 of 2015, which states that every UAE national entering into an agreement of a local partnership with a foreign investor shall hold at least 51 percent of the shares in the company. Nevertheless, this does not mean that you need to share the income, profits, and loss that are incurred by the company. Local sponsorship in UAE also can be contracted your terms through an Investor’s Right Protection Contract.
Why do you need a local sponsorship in UAE?
One of the essential foundations of starting a business in Dubai or anywhere across the UAE is to partner with a UAE national, also referred to as a local sponsor.
You need a local sponsorship in UAE to regulate in accordance to the UAE commercial companies’ law. Moreover, having a local sponsorship in UAE allows you to take advantage of the exclusive benefits of setting up a limited liability company.
Watch the video below to understand why do you need a local sponsorship in UAE?
Does your business need local sponsorship in UAE?
As per the law, anyone willing to start an LLC company should partner with a UAE national. Mainland companies under a limited liability company structure are subjected to have a local sponsorship in UAE.
Business such as general trading, contracting, real estate, advertising, technical services, industrial and manufacturing license, cargo and logistics industries, textile businesses, cosmetic and perfume businesses, electronic industries, cleaning equipment industries, fuel and petrochemical industries, jeweler business etc. need local sponsorship in UAE. To check whether your business needs a local sponsorship in UAE to click here and connect with an expert.
The best way of finding a local UAE sponsor:
Are you looking for a UAE local sponsorship? The best way to find a local UAE sponsor in Dubai is with SHURAA BUSINESS SETUP. We at Shuraa Business Setup can secure your partnership! We ourselves become your contracted local partner as per your terms guaranteeing complete protection. This law is not restricted to all business activities but certainly to commercial and trading businesses.
We as a business setup company ensure that your business is entirely yours and you alone enjoy all the profits. Thus, Shuraa Business Setup becomes your silent partner or sleeping partner. A contracted court agreement called the Investor’s Right Protection Contract allows us to offer you 100% business operational ownership.
Our lawyers prepare water-tight protection contracts to secure investors’ interests and ensure that the investors are fully protected at all times. Shuraa Business Setup as your local UAE partner only charges a nominal annual partnership fee. We help you with the legalities of setting up a business in the UAE and provide you with FREE PRO services for the year if your company is under Shuraa’s sponsorship.
Speak to a business setup consultant today! Follow the link https://www.shuraa.com/contact/ or call us on +97144081900. You may also email us on [email protected] or WhatsApp on +971507775554.