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2 Types of Companies in UAE

September 13, 2018 / 238 / Category : Dubai Guide

  • LLC is only the legal form of a company which stands for Limited Liabilities Company. The distinction should be Whether the company is a local company i.e., Dubai/ Abu Dhabi/ Sharjah or any one of the 7 states of UAE based or a Freezone company. Regulatory bodies are different for local companies and Free Zone companies. However in General terms what people are referring to is that if you want to start a business where you are able to market your goods or services inside UAE you have to have a local company.
  • Free Zone companies are not mandated to market within UAE. If it is local company maximum a foreigner can own a stake is 49%.Other 51% has to be held by the local partner. When people refer to LLC Company that is the arrangement of shareholding. The only way you can have 100% ownership in a company in the UAE is either it is based in Freezone or if local company, the type of the trade license is Professional. But even in case of professional license, you need a UAE citizen as Service Agent who will sign on your behalf in all government departments.

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Is forex legal in the United Arab Emirates? If yes, how are foreigners allowed to start currency trading in the UAE?

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It is legal in UAE. You will have to open an account with a registered bank that offers such services in the UAE. There are many foriegn banks that sell share trading, eg saxo bank. These products often include trading in curencies along with equities, futures and options. Answer: Yes Forex is legal in UAE, everybody is free to do forex trading. They just require a trading account which ...

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