One of the most common questions asked by first-time entrepreneurs in this part of the world is whether they need a local sponsor in Dubai. The answer depends on many factors, including your nationality and the type of business you wish to set up.
If you’re a non-Gulf Cooperation Council (GCC) national looking to set up a business with a commercial or industrial licence on the UAE mainland, then yes, you will need to partner with a local sponsor. If, however, you are setting up in a free zone, or your business activity is covered by a professional services licence, a local sponsor is not required.
First, you’ll need to establish a mainland LLC—of which you retain 49% ownership with the other 51% going to the local sponsor. Rest assured, however, that profits are not split along the same lines and your local partner will have little-to-no say in the day-to-day running of your company.
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With corporate sponsorship, entrepreneurs maintain complete control over their business, despite the sponsor holding a narrow majority of shares. As a rule, corporate sponsors do not get involved in the day-to-day running of the company, allowing business owners to continue to have full management of their staff, clients, and service offering
We’ll do all the heavy lifting—that’s what makes us the premier business setup consultants in Dubai and the UAE. Paperless is a one-stop-shop for company formation. We manage the process from start to finish, meaning you don’t have to meet with countless government authorities to get your business up and running.
Side agreements are often a difficult part of the process. Luckily, this is another area in which corporate sponsorship may be advantageous. Many corporate sponsors offer detailed contracts drafted by first-tier legal counsel, so that the rights of business owners and their shareholders are fully protected.
Paperless provides a premier corporate nominee to act as your 51% local sponsor in Dubai. Our main objective is to give you 100% financial and operational control, whilst protecting your shareholder rights in your LLC company. The agreements and documents used are drafted by first-tier legal counsel, and they have been tried and tested for nearly 10 years and adapted over time to remain cutting edge.We believe our corporate nominee is the best available product in the market. Our sponsorship services will provide you with all the documentation to protect your business and secure the financial rights of your company.
Operating since 2009, our team of 100 employees provides the combined resources necessary to deliver ongoing support in company formation, licence renewal, visa services and much more. We are truly a one-stop shop for company formation and our clients appreciate having a dedicated relationship manager to assist with all their corporate services needs.
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