Choosing the Right Local Sponsor in UAE
Optima Business Services will help you in finding the right Local Sponsor for your LLC Company by thoroughly assessing your business requirements. To select the right Local Sponsor in UAE, you must consider following things:
Build a Rapport with your Sponsor – For the setting up of business and during the course of business, there will be a requirement of the Local Sponsor to liaise for Government Services like applying for new employee visas, approvals, immigration, etc. Hence, building a rapport with the Sponsor is essential.
Clear and Transparent Communication– There must be a clear communication between you and the local sponsor to avoid any miscommunication on the share responsibilities and confusion on the clauses on the shareholder agreement.
List Out the Terms and Conditions Precisely – Ensure that the Memorandum of Association provided by the Local Sponsor have all the Terms and Conditions listed out clearly and are agreeable for you.
Ensure Right Documentation – Before signing up with the Local Sponsor ensure you have the right documentation of Power of Attorney(POA), side agreements, etc., to protect your shareholding and business assets in case of any disputes.
Local Service Agent in Dubai (LSA)
There are few company structures in UAE requires appointing the local Service Agent instead of a local Sponsor unlike an LLC Company setup.
The professionally license companies, sole establishments, Civil Work Companies, Branch of a Free Zone, Foreign Branch, Representative Office of Free Zone/Foreign Branch, etc., must appoint a Local Service Agent while registering the company with the authorities in UAE.
The Local Service Agent does not own any percentage share in the company but acts as local representative for the company to liaise with the Government for Visa and Administrative services. Local Services Agent Agreement must be signed to appoint the agent for the newly formed company for a yearly agent fee.
Corporate Sponsorship in Dubai
Corporate Sponsor is where a corporate entity that is fully owned by UAE Nationals will act as the Sponsor for your newly formed LLC Company.
Instead of forming an agreement with an individual as a Local Sponsor in Dubai, Corporate Sponsorship is an alternate option. AURION will prepare the agreement to represent the corporate as the local Sponsor in UAE for the new LLC Company registered.
Advantages of Corporate Sponsorship
1. Sponsor Availability All Time
Corporate Sponsors would be always available for carrying out the Government procedures (Labour Contract, Approvals, visa, Immigration, emirates ID, etc.) for the sponsored company.
The individual UAE National Sponsor availability is subjected to their presence in the UAE. Whereas Corporate Sponsor would be always remaining in UAE as it is an entity registered in UAE.
2. No Involvement in the Daily Business Operations of the Sponsored Company
The full control of the LLC Company remains with the Foreign owner even if the local sponsor is holding the major shares. The side agreement states the scope of responsibilities of each parties in detail.
3. Comprehensive Agreements by Corporate Company Lawyers
The Sponsor Agreement as well as the Memorandum of Association in the case of the Corporate Sponsor would be mostly prepared by the company itself. Corporate Sponsors have a PRO Team for assistance and ensures full transparency and legal protection for both the shareholders
How Optima Business Services Will Assist You?
Optima Business Services will assist you in setting up of your LLC Company in UAE the right way and ensure all the paperwork is done according to the requirements as well as arrange a Local Sponsor in UAE (Individual/Corporate) as per your business requirements and liking. You as an Investor will enjoy 100% financial and Operational Control on your business.
Our team of expert Business Consultants will prepare precise side agreement to protect your shareholding rights in case of any misalignment with the Sponsor. Talk to our experts Business Consultants right away to know more about finding a Local Sponsor in Dubai for your company.
