Do you wish to set up a limited company online? If so, you’ve come to the correct spot. With the potential to offer owners flexibility in administration and ownership, Prospr can assist you in forming an LLC that can grant limited liability benefits. Sharjah is the third-largest emirate in the United Arab Emirates.

Foreign investors are interested in forming a Sharjah company since it offers 100% ownership. Keep reading to learn everything you need to know about the cost of setting up a limited company.

What is a limited liability company (LLC)?

An LLC, or limited liability company, is a business structure allowing its owner limited liability benefits.

What does LLC mean?

The owner’s assets will not be used and will be safeguarded if the company files for bankruptcy or has some outstanding debts. There must be at least two shareholders and a maximum of fifty if you want to form a limited liability company in Sharjah.

Setting up a Limited Liability Company Advantages

The following are some benefits of establishing an LLC in the UAE:

• Protection from Liability: The most significant benefit of this company’s legal form is limited liability. Every owner’s liability is limited to the amount of capital they contribute; their assets are unaffected. Every shareholder’s asset would be safeguarded in case of bankruptcy or financial difficulties.
• Flexibility in management: Another advantage of setting up an LLC in Dubai is the freedom to select whatever management strategy best suits your unique business demands. You can use whichever management style you want to govern your company.
• Benefits of taxation: You are eligible for tax benefits if you set up a limited company and your yearly profit stays below 375,000 AED. Every company must pay 5% VAT, but if its annual revenue exceeds AED 3 million, you don’t need to pay the 9% corporation tax.

Why one should setup a limit liability company in Sharjah?

Foreigners can invest money to establish an LLC in millions of countries and regions worldwide. You are therefore interested in learning what Sharjah has over other countries and regions regarding competitive advantage. Let’s examine each factor that makes setting up a company in Sharjah “an ideal option” in more detail.

Full ownership of the business

Do you want total autonomy over your LLC with no outside intervention? You need to open a company in Sharjah. It gives you access to a business or industrial company’s whole office.

Competitiveness in Taxes

Sharjah’s tax-friendly laws are its first competitive advantage over other jurisdictions. In addition, the UAE government offers investors in Sharjah and other emirates a lot of support. Sharjah offers tax advantages compared to other countries in terms of corporate tax and other business taxes.

Company formation is simple

Sharjah offers you the opportunity to realize your concept in a few weeks. It’s because Sharjah makes company formation quite simple. Get assistance from Prospr PRO and business setup services to speed up the entire business setup procedure. You may quickly establish an LLC when professional business consultants work with you.

Location analysis

The city’s advantageous location is another factor that persuades many investors to open a new company there. Sharjah is situated geographically close to important hubs for transportation. Therefore, it’s a great location to broaden your market if you’re considering starting an import/export business.

How to set up an LLC in Sharjah?

What you need to do is follow this step-by-step guide:

• Choose your business’s name. It ought to be exclusive. Confirm the availability of the selected business names with the Department of Economic Development (DED).
• Decide on a location for your business. You can set up a business either on the mainland or in a free zone.
• Obtain government approvals and permits for your business.
• Get your DED trade licence by submitting your legal documentation.
• Create a business bank account in Sharjah.
• Select a particular office area. Make sure that your business’s unique requirements align with its location.
• After your LLC registration is finalized, you can begin the process of applying for employee visas. It is imperative that you adhere to labour rules and regulations in the United Arab Emirates whenever you recruit and support a worker for UAE LLC.

Required documents for Sharjah Company formation

For setting up an LLC in Sharjah, the following is a list of some general documents you will need to furnish:

• Copies of your visa and passport
• Copy of each shareholder’s passport
• Statement of the company bank account
• Permits for businesses and legal clearance (if needed)
• Application for a business licence
• Certificate of trade name

The extra documentation you need to provide will depend on the nature of your business. Prospr’s business consulting services can help you comprehend the list of documents you need to set up a limited company in Sharjah.

Setting up an LTD cost

The cost of setting up a limited company varies depending on several criteria, including:

• Type of business you conduct
• Business size
• Maintain or Freezone is your business location.

The cost of a trade licence in Sharjah starts at AED 14,900, but you should prepare to spend more money because there are additional fees that will be added to the total cost of forming a limited liability company, such as:

• Costs to open a bank account
• Attorney costs
• Reservation costs for business names
• The official space leasing cost
• Visa charges
• Additional costs

It is essential to contact a legal and business setup expert for accurate and thorough information on the fees associated with obtaining an LLC license in Sharjah. These consultants can provide insightful analysis and counsel customized to your individual needs and goals. Their knowledge can make navigating the complexities of cost assessment easier and more precise.

What is the cost of a Sharjah LLC licence?

Depending on the type of business or company you intend to set up, an LLC licence in Sharjah will cost you.

An LLC licence in Sharjah costs AED 18,000 if you want to open a professional company. The cost of obtaining an LLC licence in Sharjah for a regular trade company is AED 18,500. To set up a General Trading Company in Sharjah, you must pay more than 25,500 AED in the first year.

Does UAE have a minimum capital requirement for LLCs?

No, in the UAE, LLCs don’t have a minimum capital requirement. Nonetheless, the article of incorporation must state the capital’s worth as required by law.

Set up a Limited Liability Company with Prospr

Complying with several legal obligations and furnishing the necessary paperwork can be challenging. However, Prospr is here to assist you with forming a limited liability company in Sharjah. We will streamline business formation in Dubai. Our business experts will speed up the procedure and spare you from any headache, thanks to their years of experience in the field.