Dubai Mainland is the most preferred jurisdiction in UAE for entrepreneurs all over the world. Some of the reasons are better infrastructure facilities, ease of doing business, safety & security etc. Department of Economic development (DED) is the license issuing authority in Dubai Mainland.
100% expat Ownership:
Dubai Government along with Dubai economic department has from time to time amended policies, which encourages investment for entrepreneurs. Dubai Economic department has approved expats to form Dubai Mainland Company with 100% ownership for commercial and industrial activities (LLC companies). This policy has been brought into effect from 1st June 2021 (for activities approved by DED). Now expat investors need not search for Emirati Partners to start a company.
The decision by UAE government to allow 100% ownership to foreign investors is a huge step and this will surely encourage many new entrepreneurs to invest in Dubai mainland. One of the main reasons why foreign investors were interested in opening Free Zone Company was that it secured 100% ownership. Now that DED (Department of Economic development) has allowed, this will pay way for more investment in Dubai Mainland.
Dubai Mainland VS Free zone:
Process for forming company for 100% expat ownership:
All the process, documentation remains same for company formation except there is no requirement for Emirati partner’s requirement for liberalized commercial activities. For activities which require approval from external authorities ( Dubai Municipality, Civil defence, Knowledge and Human development Authority (KHDA, etc.,) they need to obtain approvals from respective authorities in order to obtain licenses. Therefore the process to obtain 100% ownership is same as before, only difference is Emirati partner details are not required.
Information Technology Services in UAE can be classified as per below types:
Amendment to existing license for 100% expat ownership:
As for the existing LLC licenses with Emirati partners, the situation remains same without any change according to the Memorandum of Agreement (MOA) and also the percentage of the local partner can be changed from 51% or he can be removed, provided all the shareholders agree for the same.
Role of Instaco:
INSTACO will support in the entire process starting from the selection of activity, license issuance, external approvals, investor visa until Emirates ID issuance of investor along with all kinds of PRO services. In future if any amendment is required we will assist by providing our PRO services. Our expert team of trained professionals is well-experienced to deal with all the Government departments for document clearing and obtaining approvals.
For more information contact Mr. Ashok Poojari +97150-1298609, email id firstname.lastname@example.org