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Local sponsorship Services in Dubai
If you are a non Gulf Cooperation Council national looking to start a business in Dubai or any other Emirates you would essentially require a local sponsor to support your entity. You would retain 49% ownership of the entity in Mainland LLC with 51% retained by the local sponsor. The sponsor does not have a say in day to day activities of the business.
‘Local sponsor’ is a local service agent and nominee shareholders (sleeping partners) in mainland companies with foreign investment. A sponsor has to be a UAE national with a family membership card. Operating a business in the Dubai Mainland area requires a local sponsor to be mandatorily appointed.
Though local sponsor does not come into picture in day to day routine functioning of a business, but he is a necessary entity and has signatory authority when it comes to immigration and labour related affairs.
Many entrepreneurs and firms may be wary of having a local sponsor associated with them. Corporate sponsorship comes in handy for such clients. Corporate sponsors are sought through incorporation of a holding company one that possess ample expertise about the kind of business you engage in and helps in representing your business in the best possible manner.
Through Corporate sponsorship you are in 100 percent control of all operations and in a way protect your shareholding rights too. The corporate sponsorship service offers the business with professional legal counsel and expert corporate level documentation protecting your financial rights. Through corporate sponsorship the clients are provided with a reliable nominee who acts as the sponsor.
Benefits of Corporate Sponsorship
- Negligible sponsor interference : Though the sponsor is appointed to meet the mandatory requirement and holds a share in business, but there would be zero interference in the day to day running of business, routine operations, staffing and strategic business policies.
- Complete financial benefits : Like the local sponsor, the corporate sponsor becomes a 51% shareholder, but the entire business benefits and profits and returns are retained by the business owner.
CORPIN Consultants have the necessary liaison expertise to scout for and connect you with local sponsor in Dubai at the earliest. At the corporate sponsorship level, CORPIN Consultants have a rich pool of experts who offer the right sponsor along with legal counsel and proper documentation so that the clients rights are protected.
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