LCC company formation Information

/LCC company formation Information

Excellent setup do not recommend to bring your local sponsor however if you wish so the relevant government fees must be paid upfront

ownership percentage must be a whole number.

The Initial Name Reservation Certificate will be only valid for six months and must repeatedly be renewed until the trade license is released

Depending on the nationality of the clients they might need  Security approvals.

The Security approval requires that the bank statements must demonstrate the capability to conduct business in the UAE.

If the client is currently holding a UAE residence visa, please inform Excellent setup at the time of set up to cause delays in the process, as well as the initial approval, will not be issued.

The name of a company cannot be a  country.

The Family names can not be used as a trade name unless it includes the first name of the Owner.

The business activity should be reflected in the trade name as a suffix.

These words cannot be used for company names  “international”  “Gulf,” and “group” It is subject to Dubai economic department to approval and Company (CO will be accepted) cannot be used.

The Trade names can’t contain more than two letters.

In cases where the company being incorporated is a branch, the initial approval process should first be completed before reserving the trade name.

The Initial Approval Certificate will only be valid for six months from date of approval. However, you have to provide the lease agreement and EJARI certificate within a month (30 days) of the release of Initial approval as delays will affect the ability of the local sponsor to open new companies.

The lease and Ejari certificate need to be registered under the name as approved by DED by the Initial Trade Name Reservation Certificate.

If the shareholder does not hold UAE residency, he/she will have to submit a copy of the most recent entry stamp to the UAE (within six months)

A sole establishment company cannot be a shareholder of or form a subsidiary of its company in the Dubai Department of Economic Development (DED). It will not also be possible for it to form a branch of or a representative office of the parent company

For Professional licenses, there is some sectors or activities that are restricted to ownership of UAE nationals.

There is may be additional fees for additional business activities added to the same license.

Free zone and offshore companies within the UAE may own 49% of a commercial license.

2017-07-30T17:42:49+00:00

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