Maintain 100% Foreign control and Ownership of Your LLC Company in UAE
We could assist you in respect of the LLC mandatory local 51% partner by introducing you to reliable and trustworthy local national partner, to hold 51% of your mainland LLC shareholding in full confidence and security, or by establishing a corporate sponsor where the involvement of the mandatory local national individual partner will be highly mitigated and limited, thereby allowing you to regain a 100 percent Foreign Ownership of your LLC Company in UAE.
Setting up a business in UAE
There are potential issues facing companies and businessmen when they are setting up a business in UAE or operate a UAE based business: Shari’ah law, local ownership rules, Foreign ownership restrictions requiring that UAE nationals or their wholly owned companies hold at least 51% of the share capital of all companies established in the UAE, outside the UAE Free Zones. WinCore Advisory Group can assist you in establishing a tailor-made structuring, through offshore entities, to hold your UAE Company and mitigate the impact of inheritance law and attract foreign investors into the capital of the offshore entities.
A foreign company can conduct its operations as onshore or free zone branch (more than 30 Free zones are available with their own independent authority not subject to Mainland Commercial companies law), representative office, registered company or by appointing a mainland commercial agent to sell its products in the UAE.
>> The main objective for foreigners or foreign companies is to retain foreign ownership over the entity to be established in the UAE by mitigating the influence of the local Commercial Company Law and it’s foreign ownership restrictions.
Advantages of Setting up a business in UAE
>> There are no restrictions on dividends and capital repatriation in the UAE.
>> There are no income or capital taxes (except for oil, hotels and domestic banking), no withholding taxes, no Vat and corporate taxes as of end of 2016 (they may be applied in 2018), no foreign exchange controls, no trade barriers, no inheritance taxes, no gift tax. Some companies (Mainland and Free Zone Companies only) could obtain benefits of double tax conventions by obtaining a tax residency certificate.
>>There are several types of legal entities to fit your business operations (limited liability companies LLC, branches or representative offices of foreign or free zone or foreign companies, civil companies, sole proprietorship, joint stock companies JSC, incorporated joint ventures..)