In a limited-liability company, the minimum number of shareholders is two and the maximum is 50. The liability of shareholders is limited to their shares in the capital. The company may carry on any type of activities except insurance, banking, or money investment. In UAE, The minimum capital requirement law was abolished on 10th August 2009. The memorandum of association must include the following:
Trade name of the company, its objectives, head office, duration, names of shareholders, their nationalities, addresses, and places of residence; and Amount of capital, share of each shareholder, and a statement of capital paid in kind (if any), names and nationalities of the company managers, distribution of profits and losses which may not necessarily be in the same proportion as the capital, and the adopted method of notification.
In Dubai, Capital Deposit rule has been cancelled. i.e. Limited Liability Company can be formed without Bank Deposit Certificate and Auditor Certificate. In Abu Dhabi, minimum capital requirement is Dh150,000. The manager of the company will be allowed to operate the account as soon as the incorporation is completed. The Manager of the company can be more than one and he/they shall have all administrative and financial powers. A shareholder may transfer his share in the company or part of it to another shareholder or to a third party. Management is handled by no more than five designated managers, who are not necessarily members of the company. Non-UAE nationals may own up to 49 per cent of an LLC.
In distribution of profit and loss, foreign investor can have 80% and 20% local UAE sponsor.
It is imperative that each limited-liability company appoints auditors to satisfy the requirements of the Commercial Companies Act. The law does not permit this form of company to issue share certificates. Evidence of ownership in the company is related and evidenced by the percentage contributed, assigned, or transferred in the share capital.
A larger portion of Dubai Limited Liability Companies use the local UAE sponsor as a "silent partner." In this arrangement, the local UAE sponsor is usually paid an annual "sponsorship fee" in return for giving up management control of the company to the foreign investor. To prepare your LLC Agreement call +971 55-273 2295, 055-345 7829 read more
Special approval required for certain business activities from the concerned authorities
For Inbound Tourism Dh100,000 to be deposited in Bank
For Outbound Tourism Dh200,000 to be deposited in Bank
These deposits are irrevocable till the license cancelled.
For Travel Agency Dh100,000 to be deposited at Department of Tourism & Commerce Marketing. This deposit is irrevocable till the license is cancelled.
For Building Contracting Company License, Dh10,000 to be extra at the Department of Economic Development when the license issued first time.
For General Trading License, Dh15,000 to be extra at the Department of Economic Development when the license issued first time.
Dh50,000 to be deposited at Dubai Customs. This deposit is irrevocable till the license is cancelled.
Following fees to be paid for RTA initial approval:
Dh5500 to be paid at Telecommunications Regulator Authority (TRA). This is one time fee.
Property guard & Surveillance Services, Party security & private guarding services
Initial approval from Department of Protective Systems, Dubai. Tel. 04-2048312
Initial approval from Ruler's Court
Initial approval from Central Bank of UAE and Department of Protective Systems
Initial approval from Department of Protective Systems
It is issued only in locations where there is a petrol filling station. This will need an agreement with the said oil company to lease the space at their filling station. Other norms on environment protection and safety have to be followed as per the standards prescribed.
For supermarket, 2000 square feet area is required.
Minimum 360 square feet office area is required.
Minimum 175 square feet kitchen area is required.
To set-up your business, to prepare your DED related forms, court agreements and amendments, call:
Qusais (Al Nahda-2): 055 273 2295, 055-345 7829
Only ready-made meals and fry-ups are allowed to be served by food trucks.
Get No Objection Permit from Permits and Applied Nutrition section at Dubai Municipality to conduct this activity.
The kitchen area in the vehicle must be suitable for the permitted activities. The floors, walls and ceilings should be made of smooth materials; they should be easy to clean, non-absorbent of water, fire-resistant, light-coloured, non-toxic and without cracks.
Food trucks must also provide appropriate ventilation and lighting.
There should also be a double sink for washing small equipment that is situated close to the preparation area.
It is also required to provide sufficient and appropriate places for storing one-time use packaging materials, and the equipment should be conveniently distributed inside the vehicle, so as to separate the various operations to prevent cross-contamination. It is not allowed to prepare raw materials, thawed meat, poultry and fish in the mobile truck.
The activity of food trucks should be limited to heating operations, simple barbecues and fry-ups for ready-made meals like burgers, sausages and French fries.
It is not allowed to clean and wash the vegetables in the mobile trucks, and all vegetables must be sorted, cleaned, sterilised and stored in clean covered containers outside the vehicle, in a licensed and secure place in order to avoid cross-contamination.
Q: How many managers can be put in the Memorandum of Association?
A: Minimum one and maximum five. Article No 235 of the Commercial Companies Law states the following: "A LLC shall be managed by one manager or more, who shall be selected from the partners or otherwise, provided that they do not exceed five. Managers shall be appointed in the Memorandum of Association of the company or in a separate contract for a specific period or without limitation."
Article No 236 of the same law states that if a manager is appointed in the Memorandum of Association without limitation of a specific period, in such an event, the manager shall remain in the company for the duration of the company unless the Memorandum of Association provides for the possibility to remove the individual.
Are you planning to Set-up your business in Dubai? Call us for New business, LLC Formation, Amendment in existing license and PRO Service. +971 55-273 2295, 055-345 7829, 04-239 1302 or mail your queries to [email protected]
UAE Employment Visa related service at Thiruvananthapuram. Our package includes: pick from your arrival point (Railway/Bus Stand), Accommodation, Medical (if required), Medical Certificate Attestation using our Credit Card without you standing in the queue, necessary guidance and drop at your travel point.
Maid Visa related Service: After completion of e-Migrate procedures at Indian Consulate/Embassy in UAE, we can arrange remaining procedures for Emigration clearance.
Explore International, Call +91-95 390 51 386, +91-894 33 28 266
Qusais (Al Nahda-2) Near Zulekha Hospital:
Qusais (Al Nahda-2) Behind NMC Hospital:
Bur Dubai
Hor Al Anz (Deira):
Qusais (Damascus St)
For Collection & Delivery Service; call
For Family visa service of all other emirates, call:
Head Office: Business Village
Near Clock Tower, Deira, Dubai
Al Tawar
Al Tawar Centre, First Floor, Qusais, Deira, Dubai
Dubai Mall
Deira, Dubai
Al Barsha Mall Branch
Bur Dubai, Al Barsha 2, Street 23rd.
TECOM Branch (To register licenses in TECOM area)
Dubai
DED Timing: Saturday to Thursday 7:30am to 1:30pm
Website: www.ded.ae
Main Branch: AL NAHDA-2, Dubai
Office No.2, Al Shamsi Building, Near Zulekha Hospital, Opp. Al Madeena Supermarket
Qusais Branch: Qusais, Dubai
Near DAFZA Metro Station Shop No. 7, Al Manzil Building, Near DAFZA Metro Exit#2
Email: [email protected]
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