UAE offers now 100% ownership of LLC??

[talker]

Hey guys,
I've heard that since 2 months, there is a new law in UAE that allow foreigners to own 100% from LLCs in mainland.
Do you think this is a better option than FZE for my dropshipping business I wanna start in UAE (selling to americans)?
Thanks

 

[BlueMist]

I don’t think this option is available yet. Maybe mid year it will be formalised.‌ It may however be a good idea to incorporate local LLC with local partner at‍ 51% and just get rid of him once the new law is in place.

 

[CaptK]

Not as simple as that.
For now you are stuck with⁤ FZE but you could then open a mainland branch office.
But as you are selling⁣ to Americans FZE will be perfect.

 

[For Free]

You can own 100% LLC but it is not easy as you think because there‌ will be heavy investment in specific sectors. On the other hand, LLC has to submit‍ financial statement annually while FZE not. For bank account, yes LLC is easy to open⁠ accounts in many banks but there may a requirement of physical office which costs you⁤ more.

 

[rowena]

Not related directly but things are changing they announced citizenship by investment program yesterday. I'm‌ expecting at least $1-2M real estate investment requirement but you will have the best zero‍ tax passport in the world and you can be "local" in the near future 😎

 

[CaptK]

Yes, they are but it won't entitle you to all the⁤ benefits of an Emirati but it definitely a fantastic passport, tax free and in a⁣ more desirable destination for Europeans, Africans.

 

[BlueMist]

And you better start learning Arabic if you even want to be considered for UAE‌ passport 🙂

 

[rowena]

The exact requirements still not announced but probably there‍ will be no Arabic requirement. The main point of this new law is to increase⁠ cash flow to the UAE real estate market but we will see the exact requirements⁤ soon.