UAE Local Sponsor
UAE Local Sponsor
Local sponsor exists as a critical condition if an overseas entrepreneur wishes to open his company in the mainland of UAE. The sponsor must be a citizen of the UAE. If you are planning to open your business in the free zone, then this is not required.
The UAE local sponsor for a mainland business must have 51% ownership of the said business. In return, they offer funding, products, or services to boost teams, trade shows, events, and nonprofit or business organizations. So, technically speaking, local sponsors get your business exposure, besides the chance to reach new customers.
Looking for a reliable local sponsor for your mainland company in Dubai or anywhere else in the UAE is daunting. GSPU is ready to lend a helping hand. As GSPU knows that very well, please do not hesitate to contact us. We are here to help you to find your right sponsor.
A local sponsor in the UAE is an Emirati or a UAE national with a family membership card (Gincia), who acts as your service agent for your business in the UAE.
A local sponsor for companies in the UAE can be an individual/s or corporate. Here, if it is a corporate sponsor that company has to be 100% owned by UAE / GCC National/s.
As per the UAE Companies Law and UAE Civil Law, to form a limited liability company (LLC) in the mainland a minimum of 51% local share is a must. A foreign share in such kind of company should not exceed 49% however, distribution in the profits shared can be mutually agreed between the parties.
Some types of professional companies and civil companies can be owned 100% by an expatriate shareholder, where the local sponsor will act as a Local Service Agent (LSA)
GSPU assures 100% assistance in obtaining an authentic, genuine, well-grounded and reliable UAE national or an Emirati in order to act as your local sponsor in UAE.
The International Companies Regulations requires no local shareholding in an offshore company as opposed to the companies incorporated in the mainland of UAE, which requires mandatory local shareholding. Therefore, foreign investors either individual or corporate entities may own 100% share equity.
Local sponsor in the UAE is not only responsible to share the shares in the company. But instead, he is also responsible for some important dealings as:
- Cancellation of employees work visa
- Cancellation of the labour status for employees
- Closing the bank accounts
- To settle any outstanding debt if there if any