“When it comes to Mainland LLC business set up, 51% of the shares owned by the foreign company goes to the assigned business partner (local or corporate sponsor). And the foreign investors enjoy the remaining 49% of the company shares. “
According to the UAE Companies Law, the business setup of a Mainland Limited Liability company that involves foreign investment mandates the involvement of a local sponsor. The business partner must be a UAE national or a corporate entity. Finding a local sponsor in Dubai, UAE for the business always remains a demanding task for startups and new entrepreneurs in the Emirates.
The foreign company is bound to pay a lump sum amount every year for the services offered by the local sponsor in UAE. A corporate business partner is similar to a local business partner and the difference is that the former is a business entity and the latter is an individual. A corporate business partner is a corporate entity fully owned by UAE nationals and comprises of a board of directors.
Sponsorship is mandatory for a wide range of enterprises that belong to the trading and commercial business category.
If you are stuck with the task of finding a reliable local sponsor in UAE, entrust the job to Rootbeta Business consultants. We at Rootbeta can connect your business with the right sponsor who works in perfect harmony with your line of business.
Contact us today for your local sponsorship services in Abu Dhabi, UAE