Q: I would like to incorporate an LLC in the UAE, but it is unclear when the company will make profits. How can I withdraw money from my business account? A: You and your partner can agree to open a bank account under the company name and both of you to be authorized signatories before the bank…

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How to withdraw money from the company account before it makes profits?

Hello,

I would like to incorporate an LLC in the UAE, but it is unclear when the company will make profits.

How can I withdraw money from my business account?

In the US, that can be done via owner’s draw. Is this similar or does that work differently?

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Dr. Mohamed Alhammadi Advocates and Legal Consultants

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14 Jan 2022, 05:23

Hi,

You and your partner can agree to open a bank account under the company name and both of you to be authorized signatories before the bank.

Kindly contact us via WhatsApp.

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