Limited Liability Company (LLC)

A Limited Liability Company (LLC) is an adaptable form of business that mixes components of partnership and corporate structures. A LLC can have minimum 2 and maximum 50 shareholders,51% of the shares shall be owned by a local Emirati Citizen (GCC Citizens have exemption in this rule) each of the partner liability is limited to the capital of the company. LLCs can direct any industrial or commercial business, however not professional – aside from banking, insurance or venture. LLC’s cannot practice law, auditing, accountancy or any other sort of counseling administration. The business name ought to be same as the trade name or contain the names of one or more of its partners. The phrase “Limited Liability Company” musts also be added to the business name.