Our Sponsorship Management Services encompass highly talented individuals with a treasure of sponsorship experience to empower you with high-quality advice and practical assistance.
The setting up of a business by a foreigner in the UAE Mainland needs a UAE national to be their local agent as per the commercial companies’ federal law no: 2 of 2015. A local sponsor in Dubai can be an individual UAE national or a corporate entity. However, choosing the right sponsor is very crucial to the existence of your business; that’s the reason why we consider various aspects before we recommend or provide our clients with a local sponsor in UAE, thus saving time and unnecessary back and forth.
At Morrisman Sponsorship our customers enjoy total freedom from the UAE national sponsor for business in Dubai as we empower the Foreign national with a special Power of Attorney to remove the UAE national at any point of time from the investor’s company; a memorandum of understanding is also provided to the investor to protect the profit and shares of the company as our sponsor transfers/waive all the rights of the company to the foreign investor against the fixed sponsorship amount payable to him.
No, in Dubai Mainland it is mandatory to have UAE national either as a local agent of the company. If the customer chooses the LLC structure, then UAE nationals will hold a minimum of 51% of the share capital of the company. If it is a professional license and sole establishment structure, then UAE nationals will be just an agent of the company. The investor also keeps in mind that UAE national will just take a fixed sponsorship amount annually against putting his name in the company even if it is mentioned in the MOA that he or she is the 51% owner of the company as all the memorandum of understating, trust deed, proxy agreement and nominee shareholding agreement will be given the foreign national to protect his or her right in the company.
Any UAE national /citizen who acts as a service agent or 51% shareholder of your business to enable a company set up in Dubai or UAE is called a local sponsor.
The annual charges that a UAE national expects to be paid are based on the nature of the business that the foreign expat who wants to set up a Dubai company intends to engage in. However, the average rate to be paid for a UAE local sponsor starts from AED 8000/- per year. Avyanco can help you if you wish to appoint a reliable and professional UAE national for company registration in Dubai.
Yes, we offer an MOU/Side Agreement or Trust Agreement that helps the foreign investors to protect his/her shares and profit of the company.
Morrisman Business Consultancy LLC can act as your UAE local sponsor for LLC company or UAE local agents for professional licenses, be it sole establishment, partnership firm, or foreign company branch licenses in UAE.
Yes, if the local sponsor has not signed the memorandum of association/service agent agreement and notarized it at the public notary, the entire paid amount can be refunded.
If you have concerns about a relatively unknown individual getting their foot in your business’s door, there is another possible option – corporate sponsorship. The process is quite similar, except that you will be sponsored by an existing company instead of an individual. This will put you on firmer ground since a company sponsor is likely to pose less risk than an individual. It also allows for a stronger governance structure to safeguard foreign investment and enables issues like shareholder succession to be resolved under company law. Typically, you will also be provided with a dedicated team to assist with license and visa renewals and any other ad-hoc support required to operate the company.
No, you don’t need a local sponsor to set up a free zone company. A free zone company can be owned 100% by an expatriate shareholder(s).