About Local Sponsor for a Company Setup in Dubai

At “nifty corporate services” we have a team of professionals with extensive expertise on business setup and corporate structuring. New market entrants can focus on their business plan, while we clear a path with streamlined licenses, visa and government liaison services. “Nifty corporate services” dedicated advisors are on the right to answer your questions and complete transparency as they are with government officials on your behalf. Our services include: business setups (onshore, offshore, free zone, SPC and SPV), corporate nominee sponsorship and PRO services for companies looking to enter the Middle East and Wider-GCC. Our aim is strategically aligned to yours; to provide the most suitable, timely and cost effective options to meet your business goals

 Dubai has developed an oil-dependent economy to one of the leading economic and innovation hubs of the world. Its progressive government, economic diversity has made Dubai a fertile ground for setting up a new business. Dubai government welcomes new businesses in its territory with open hands. To ensure that the business industry gets the highest gain, the UAE capital has set up various policies. Any foreigner interested in setting up a business in Dubai will find the situation a little difficult because they may not be aware of the surroundings, policies and standards of government. A foreigner is completely unaware of the government rules all the necessary documents and affirmation of affirmation of officials from a tedious process with verification, checking and cross-verification. To overcome all these obstacles, the Dubai government has made it mandatory for a foreign businessperson to have a local sponsor for their business.

 (Dubai Local Sponsorship) Dubai Local Sponsorship Who is a “Local Sponsor in Dubai”? Local service holders and nominee shareholders are referred to as sponsors. A local sponsor is a local resident of the country who owns at least 51% of the company's shares. This norm of local sponsorship is valid throughout the country except in Dubai free zone areas. Types of Local Sponsors Depending on the type of business in the set up in Dubai, there are three types of local sponsors - Corporate “Local Sponsor DUBAI” This type of sponsorship involves a corporation firm new business sponsoring and 51% liability. This is a limited liability company or a manufacturing business for the appropriate. Individual Sponsor to set up a trading company or a limited liability company, individual sponsors are right choice. An Emirati national will hold a 51% share and a 51% liability of the company. In cases where both parties do not agree to a 51% share of the agreement, the government also allows a fixed annual fee to the local sponsor.

The Local Service Agent will be able to open a local service agent, as a sponsor. This type of sponsorship involves a local resident acting as a sponsor for the company... There are certain aspects that need to be verified before the dotted line - Verify and cross-verification if he / she is a Dubai resident. If not, then travel expenses will be the major expenses for each business transaction. Check out the educational qualifications of the sponsor else there will be an additional process for hiring a translator to get the language right. Keep the first preference for a local sponsor as a government employee as the benefits for the company are immormous. Always verify the sponsorship agreement before the official signature date. Venturing out on your own search of a local sponsor in a new country with a fresh business idea is not an easy task. Visit a business consultant in Dubai to get the latest updates on the terms and conditions of a local sponsor