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How can a partner completely own an LLC company?

Dear sir/madam,

We are a commercial broker L.L.C. Company, consisting of 2 partners; local with 51% shares & foreign with 49%.

We have decided to own this company 100%.

Kindly let us know how will it be possible and what documents are required to get started? And what would the cost be?

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Laila Hamza Al Mulla Advocates and Legal Consultants

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18 Jun 2022, 08:03

Dear questioner,

You need to change the trade license from LLC to an establishment.

You need a contract to transfer the local shares to the other party. The contract cost is 3000 AED.

The procedures to change the trade license cost 3000 AED.

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