Who is the Local Sponsor in Dubai UAE?
If you are a new business investor in the UAE, it is important to know how to get local sponsors.
Local sponsors are important because they can help you reach your target audience and make your products or services more appealing to them. The process for getting a sponsor is different for every company, but it generally involves filling out paperwork and then meeting with a representative from the company you’re trying to get sponsored by.
The first thing you need to do is find out what your budget is and what kind of sponsorship you are looking for. The next step is to make a list of people or organizations that might be willing to sponsor your business.
Why local sponsor is a must for your business setup in Dubai, UAE?
In order to do business in the UAE, any foreign investor who is not a resident or local of the UAE would need a local sponsor. This can be a time-consuming process, but it’s worth it for the benefits that come with it. As you only get about 49 percent of your company’s shares, you are guaranteed that you are doing nothing illegal inside Dubai, which is what a sponsor would provide for you.
The paperwork needed to open a new business in Dubai can be overwhelming, especially for foreign investors not familiar with the process. Landing a local sponsor can help you navigate through this process and set up your company quickly.
While Finding a local sponsor the following must remember. He/she can meet with you regularly to discuss the needs of your business. Also, check their background, and make sure to stay on top of the paperwork involved in setting up a company.
There are two main types of local sponsorships in Dubai.
Individual Local Sponsorship would give an investor the opportunity to own 100% of the company they are investing in, while also giving them some freedom. And the drawback is The license can be canceled if the local agent has any trouble with legal terms. If the local service agent is unavailable, work may be delayed.
Corporate Local Sponsorships are agreements between a sponsor and a client. The sponsor provides legal services to the client, and in exchange, the client pays an agreed-upon fee.
The benefits of corporate sponsorship include the elimination of unnecessary interference by the sponsor during legal operations, no stress on the part of the family during a transaction upon the sponsor’s death. Being a legal consulting firm we help you in the process and will take care of the lawyer formalities. A variety of complications can arise from corporate sponsorship. For example, a large amount of money may be charged for the sponsorship.
Process and requirements to get a local sponsor in Dubai:
Dubai Local Sponsor is a service that helps investors register a mainland license in Dubai and save time on the registration process. The process consists of three steps:
Registering your company name and applying for initial approval online or through a typing service center;
Drafting a Memorandum of Association (MOA) at a typing center or at the Dubai Chamber of Commerce and Industry (DCCI), and finally obtaining your license from the Department of Economic Development (DED).
If you are planning to apply for a partner of an employment visa and you want to do so through a Dubai-registered company, then you must first acquire a GDRFA and Ministry of Human Resources & Emiratization Establishment Card.
At Legal House business setup Consulting firm, we know that starting your own business can be overwhelming. That’s why we’ve created the most comprehensive package in Dubai!
We’ll help you with everything from legal document processing to the local sponsor for your new business setup in Dubai and UAE. We’ll even help you find a great location for your office, and make sure all the details are taken care of so you don’t have to worry about anything but running a successful business.
If you’re ready to take the next step toward starting your own profitable business in Dubai and UAE, contact us today!