Business setup in Dubai
Dubai has been the perfect destination for investors in the past years, thanks to the endless benefits such as diverse policy, economic stability, tax exemption and full ownership opportunities.
In order to start up a business in Dubai or UAE, there are a lot of documentation, authorizations, and approvals that each business needs to obtain to start properly. There are also a lot of documentation and approvals to be acquired from different governmental corporations such as Dubai Chamber, Ministry of Labour, Department of Economic Development, Dubai Immigration and Naturalization Department and many more.
Requirements and Benefits of Setting a company in Dubai LLC
In order to set an LLC company in a Dubai Mainland, you need to have a local sponsor. A local sponsor owns 51% of the capital’s name but without investing any of his funds in the company. A local sponsor does not have to take any of the company’s profit but can take his share in various other profit sharing forms such as getting an annual fixed fee or a percentage of the revenue.
Phoenix Capital UAE can provide a special service of Corporate Local Nominee partner to act as the majority shareholder on any newly establishing or existing onshore license
Phoenix Capital solution for the corporate sponsor (51%) being held by the company:
Risk Mitigation Agreements (RMA) under which control and profit entitlement are diverted away from the UAE Corporate Shareholder to the foreign investor(s).
The main difference from a structural perspective as to why people prefer the Phoenix Capital corporate sponsorship solution rather than using a local Emirati individual is the protection and security it gives.
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