In simple terms, a Limited Liability Company is a corporate structure where the investors in a company are not personally liable for the company’s debts or liabilities. The LLC helps to limit the principals’ personal liability in the venture. This is also the most preferred form business in UAE that can be formed by a minimum of 2 and a maximum of 50 shareholders whose liability is limited to their shares in the businesses capital.
Socprollect Business Consultants liaison with the relevant departments, be it, Department of Economic Development – Dubai, Economic Development Department – Sharjah,
Department of Economic Development – Abu Dhabi or the Municipality/ Chamber of Commerce in the other Emirates. In case of businesses where Company incorporation needs special approvals or licences, Socprollect Business Consultants, help you understand the formalities and procedures involved and help complete them within the stipulated time frame.
The role of Socprollect Business Consultants extend to getting approvals and clearances from various departments, drafting Memorandum of Association and other necessary agreements, bringing local equity and local partners, assist in opening bank accounts and selecting the right location for business or operations, complete all documentation formalities to aid LLC company formation.