THINGS TO KNOW ABOUT A LOCAL SPONSOR IN UAE
UAE is one of the top growing business hubs in the business world. Therefore investors from different countries to the UAE, are increasing day-by-day. Many factors become Dubai the business hub. Some of them are the easy business setup procedure, low tax, standard of living, support to the startups, lively environment, etc..
The very basic and important step in business setup in Dubai, UAE is the local sponsor. There are three types of licensing option for a business setup.
They are:
If you want to own 100% of the ownership of your business then the licensing option is free zone license. But if you want to own your company in UAE mainland then the local sponsor is the mandatory factor. To open a business in Dubai UAE mainland the sponsor own 51% of the whole share and the rest 49% will be the foreign ownership. A local sponsor is paid a lump sum fee for every year (annually).To get a reliable local sponsor for your business is an important factor. But there will be no particular role for the local sponsor in your business, the sponsor should be a silent partner in your business activities. But to open a business in UAE without the support of a local sponsor is impossible
What and who is a local sponsor or an emirate?
Local sponsor is the term used for a UAE national which is an Emirati.to be a local sponsor he or she should have a family membership card called the “Gincia”.
What are the types of local sponsor? (3 types)
1.    A local service agent
2.    A corporate local sponsor
3.    An Individual local sponsor
To get a reliable local sponsor for a business is an important factor.so there are many fact’s that should consider before choosing a local sponsor for a business. Getting A good sponsor for a business is one among the first step for the success into your business.
For more queries related to a local sponsor in Dubai UAE contact our Business Setup Consultant.



Comments

Post a Comment

Popular posts from this blog

HOW TO SETUP A BUSINESS IN UAE? Dubai is fast growing Business Hub. There are a lot of opportunities knocking its door everyday. Its everyone's dream to have their own dream business and Dubai has thousands way to make the dreams comes true. We- Prime Point present you a team of refined professionals who are dedicated to provide you the best  corporate consultancy  services to  start your business in UAE. We are the one that cannot only help you in arranging and managing the documentation, but also kit out your company to develop and grow in the perfect way, the way it deserves. We don’t just guide you, we grow with you. We don’t just make you stand your business, we walk with you.  There are three major categories of licensing in UAE. These are: 1. Mainland We at Prime Point make it possible to help you in Company formation in Mainland with Department of Economic Development (DED). Our company provides a comprehensive support to the investors to...
Read more
Image
HOW MANY FREEZONES ARE THERE IN UAE? There are around 45 free zones in UAE . Choosing one among them to setup your business in UAE is a difficult task. Because each free zones had its wide range of advantages. FREE ZONES are a big appeal to foreign investors. The purpose behind the existence of FREE ZONES is the same; to entice the big and small both business entities from various industries to invest inside the UAE. FREEZONE offers word class business facilities and commercial benefits to investors. Some of the mentionable facilities in UAE FREE ZONE are   flexi-desk , flexi-office setup , access to freehold property and investor’s privacy with limited reporting obligations. 45 FREE ZONES IN UAE Abu Dhabi Free zones :   (7 free zones) Masdar city Industrial city of Abu Dhabi Abu Dhabi airport business city Abu Dhabi global market Twofour54 Higher corporation for specialized economic zone/ zones corp...
Read more