Ever heard of a Limited Liability company? Well, it is possible that you have, as it is one of the most happening business options in the world. There are several reasons to think about an LLC company formation in Dubai. As the name goes, this type of company will incur fewer liabilities compared to other forms of companies. In other words, the owners of the company are not liable to be held accountable for the liabilities and debts of the company. Essentially, an LLC company is considered ideal for those looking to do business in a foreign country. Reduction in liabilities is an attractive proposition for entrepreneurs and seems to be the driving force behind them backing their efforts to start an LLC company. But, it is important to look at other options as well. At its core, an LLC company seems to have borrowed characteristics from different types of companies. Upon a closer look, you will find characteristics of a partnership business as well as a corporation. With so many things to look for, it becomes that much important to choose the right option before gearing to do own business.
Why an LLC company?
Well, it is for you to decide as to what type of business will suit your needs best. It is important that you involve a consultant in your efforts as well so that you continue to get proper advice on what to do to initiate own business in UAE. Take expert advice from time to time to stay aware of the technicalities of business. It is assumed that this is your first attempt at doing own business, and this is that case, then you would need lots of advice. However, you would be flooded with those, which is why you must choose the advice after careful research.
Will you get ownership of the business?
Well, it is true that some businesses were not allowed to claim ownership early when the business was new. But, the government is willing to cooperate more with investors on this matter lately. If you happen to have a free zone business, you will be able to claim ownership within a year of starting a business. It might take a little longer for mainland businesses in some cases, but they’ll be allowed to take the ownership as well.
In case you have a company setup Abu Dhabi in mind, you should move forward and take steps to help turn your plan into reality.