- Posted by: admin
- Category: Company
A local sponsor is an Emirati or a UAE national with a family membership card, who acts as your service agent for your business in the UAE.
As per the UAE Companies Law and UAE Civil Law, to form a limited liability company (LLC) in the mainland a minimum of 51% local share is a must. A foreign share in such kind of company should not exceed 49% however, distribution in the profits shared can be mutually agreed between the parties.
What is the role of a local sponsor
Local sponsor is not only responsible to share the shares in the company. But instead he is also responsible for some important dealings as mentioned below:
- Cancellation of employees work visa
- Cancellation of the labour status for employees
- Closing the bank accounts
- To settle any outstanding debt if there is any
- Why should you choose Local Sponsor Service
- 100% reliable assistance
- Support and guidance on registration, licensing and office set-up
- Saves time and money
- Proper work progress
- No suspensions and extra cost