Q: I’m going to get a license for a general trading company. Can the sponsor be an LLC company that already has a local sponsor, or I still need to have a local sponsor? A: UAE national or 100% UAE company will hold 51% shares. The 51% is not merely a sponsor, he is legally the owner of the company…

All cities, UAE

422

Choosing the suitable sponsor for a general trading company

I'm going to get a license for a general trading company, my question is:

Can the sponsor be an LLC company that already has a local sponsor, or I still need to have a local sponsor?

Kochhar & Co Inc. Legal Consultants (Dubai Branch)

Hire

Meet

29 Jan 2020, 12:32

UAE national or 100% UAE company will hold 51% shares.

Please understand that for an LLC, the 51% is not merely a sponsor, he is legally the owner of the company.

If any company is a shareholder, that company's shareholder will hold the shares in the new company on a pro-rata basis.

Was this content helpful?

Fixed-fee services

Get quotes from lawyers

Find the right lawyer for your legal needs. Submit your request and get multiple competitive offers from qualified lawyers.

Looking for something else?

Ask for advice from a lawyer

It’s free and anonymous

No registration needed