Who is the meaning of Local Sponsor?
Local Sponsor means any citizen of United Arab Emirates (UAE) who acts as a service agent or holds 51% shares in your company.
Why do foreign investors need a local sponsor for business in Dubai?
For setting up of business in Dubai mainland it is mandatory to have a UAE national as a local agent of the company. In situations where foreign investor chooses to setup LLC (Limited Liability Company) in Dubai mainland, then it is a mandatory condition that UAE national will hold a minimum of 51% of the share capital in the company.
Therefore, there is no need of worry for you because Nour Attorneys Law Firm is there to protect the interest of foreign investors by way of executing trust deeds, nominee shareholder agreement, Memorandum of Association (MOA) as well as Memorandum of Understanding (MOU) so that annually fixed sponsorship amount is to be given to local sponsor for putting his/her name in the company and other rights relating to ownership of the company is protected in the favour of foreign investor.
How can you find a local sponsor for business in Dubai?
Nour Attorneys Law Firm helps you in providing best legal consultancy services in terms of providing you reliable and efficient local sponsor in Dubai for setting up your business. Moreover, our law firm also make sure that annual charge for local sponsorship which is to borne by foreign investor must be minimum in nature.
Our highly qualified team of business advisors and legal consultants make sure that local sponsor must not be involved in the direct operations of the company which is to be set up by the foreign investor. Moreover, our law firm team of legal consultants works in order to provide best services to expat entrepreneurs in finding local sponsor for setting up their business venture in Dubai.
In case if you need any suggestion or help in relation to need of local sponsor in Dubai you can contact us freely. Our law firm team is fully committed in order to perform their duty and in delivering out the positive results.