Why is it beneficial to start an LLC company in Abu Dhabi? |
Posted: November 19, 2019 |
LLC companies are one of the most preferred forms of company setup in the UAE. Limited Liability Company (LLC) is basically a company where the liability of the shareholders is restricted up to the extent of their share in the business capital. However, it is a separate and distinct legal entity. This indicates that an UAE LLC company can get Tax Registration Number (TRN), open a bank account and do their business all under the company’s name. Limited Liability Company in Abu Dhabi are popular amongst businesses of all sizes. This is because it allows them to form a company with multiple shareholders; it can be anywhere between 2 and 50. These shareholders can be either individual or corporate entities or a combination of these two. So, if you are planning to set up a business in Abu Dhabi and still considering different options; then here are the reasons why LLC company formation in Abu Dhabi will be beneficial for you: Limited Liability ProtectionThe most significant reasons behind the popularity of LLC company setup in all over the UAE is that it provides complete protection to the entrepreneurs. If in case anything goes wrong and the business gets into trouble, you will not be personally liable as the owner or shareholder. In total, your liability is limited up to the amount that you’ve invested in the business. This protects you from liabilities arising due to any bad debts or court injunctions incurred by the limited company. Low Startup CostsLimited liability company setup is also attractive to first-time entrepreneurs; this is because of the low cost of business set up. Also, there is no need to retain or pay upfront to share capital. Great Tax BenefitsWhile talking about the different methods of company formation in Abu Dhabi, you just cannot miss out mentioning the incredible tax environment of the UAE. LLC company formation in Abu Dhabi provide an advantageous tax environment and benefits. Range of Permitted Business ActivitiesUnlike some other types of company formations, LLC company setup enables you to undertake a broad and extensive range of business activities. Business owners can apply for a license for trading in any of the 2,000 plus activities that are permitted by the Department of Economic Development, ranging from agriculture to finance. In The EndForming an LLC company in Abu Dhabi can be one of the fastest and most effective ways of gaining a foothold and building momentum not just in Abu Dhabi but in the entire UAE. Once your business is established, you can not only trade directly with the local market, but also you can open additional branch offices all over the Emirates for building a greater presence across the mainland.
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