Strategise, Startup and Scale

Why should one consider setting up a Limited Liability Company under Dubai Economy and Tourism?

One of the highlights of the recently issued Federal Decree-Law No. 26 of 2020, Amending Certain Provisions of the Federal Law No (2) of 2015 concerning Commercial Companies is the provision for 100% foreign ownership for significant trading and industrial related activities. This gives advantage to a foreign national to incorporate a Limited Liability Company without having an Emirati partner in the business.

A Limited Liability Company is the most preferred legal form of a mainland company. Common commercial activities such as foodstuff supply trading, garments, textile, goods wholesaler and general trading can now can be formed as 100% owned by foreign nationals and licenced as a Limited Liability Company. A Limited Liability Company is a corporate structure that protects its owners from being personally liable for the company's debts or liabilities.

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Know About Dubai Airport Free Zone (DAFZA) Talent Pass for Freelancers

Dubai’s DAFZA has launched the Talent Pass licence that aims to attract freelancers with special skills and expertise in the fields of media, education, art, technology, consultancy, and marketing.

The Dubai Airport Free Zone (DAFZA)—which is home to 1800+ companies in over 20 vital sectors—has signed an agreement with Dubai Culture and the GDRFA (General Directorate of Residency and Foreign Affairs) to advance this new initiative.

Talent Pass: What are Some Popular Benefits

The Talent Pass allows its holder to obtain amazing benefits such as the following:

• The Talent Pass allows its owner to obtain a 3-year residency visa
• They can also have the provision of renting an office space provided by DAFZA
• DAFZA will also feature support and flexible operational costs

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Ascent Partners provides bespoke business advisory services for entrepreneurs and individuals looking to strategise, startup and scale their new venture in Dubai.

Get in touch with us today to find out more at [email protected] or at 04 422 7339