The UAE’s Commercial Companies Law requires that foreign companies setting up onshore engage with a local partner in the form of a Sponsor for a Limited Liability Company (LLC) or a National Service Agent for a Foreign Branch or Representative Office. This requirement can be daunting for foreign companies not used to such arrangements in other jurisdictions that they operate in and finding the right partner for their business is incredibly important.
Gateway understands theses anxieties and to reduce the risks, we can provide our Clients with a trusted corporate nominee partner that will give them beneficial ownership of the business, as well as management control.
What are the benefits of the Gateway Group local partner service?
100% beneficial ownership
100% financial control
100% management control
Fixed annual fee
the foreign party retains 100% of the profits
business continuity in the event of the death of the local partner
A structured agreement with a corporate entity
therefore no emotional attachment of partnering with an individual
whilst we don’t want to lose clients, we appreciate that strategies change, and agree to a simple, three month, written notice period to either liquidate or share transfer
western approach to the relationship; no communication barriers; easy access to an experienced, knowledgeable professional; availability and powers for signings.
Engineering local partner
waives/reduces the capital requirements for contracting / engineering companies during the Classification process
Supreme Petroleum Council-approved – ideal for oil and gas companies