I Want to Form an LLC in Sharjah, UAE
Posted on 27th July 2010 by Camille Paldi,
- Obtain approval of the trade name and activity of the LLC by the Sharjah Economic Development Department. (Initial Approval) http://www.sharjaheconomic.ae/english/
- Drafting of the Articles of Association and notarization before the Notary Public at the Sharjah Courts. http://www.pp.gov.ae/icons/moj/maps/en/sharjah_map.htm
- Submission of the Application Form to the Sharjah Economic Development Department along with the notarized Articles of Association and a Sharjah bank certificate.
- Register the Company with the Trade License and Commercial Registration Department of the Sharjah Economic Development Department. Submit the following: 1.) Two original copies of application form signed by the Manager or legal representative. 2.) An original and one copy of the notarized Articles of Association. 3.) Two copies of a certificate issued by the Manager of the Company and signed by the Auditor stating that: All shares in kind or cash are fully paid up; The value of the cash shares has been deposited in a UAE bank account; the shares have been valued and the value representing such shares is credited to the assets of the company.
- Two copies of a certificate issued by the bank showing the total amount deposited by each partner and an undertaking from the bank to the effect that the deposited amount will only be released to the managers upon proof of registration of the company.
- Approval of Trade Name issued by the Sharjah Economic Development Department.
- The original approval letter (initial approval) issued by The Sharjah Economic Development Department.
- Auditor’s Letter stating that the company’s auditors are willing to act as auditors for the company.
- Application Fees.
- After the company is entered into the commercial register, the following documents must be submitted to the Federal Ministry of Economy and Planning: Documents issued by the Commercial Registry and released to the Company Representative; Copy of the notarized Articles of Association; Copy of the Certificate Issued by the Managers mentioned above and marked with the number and date of the commercial registration of the Company; Copy of the Bank and Auditor’s Certificate; Copy of the Application for Entry of the Company’s Name in the Commercial Register; Extract of the entry of the Company’s Name in the Commercial Register.
- The documents delivered to the company representative should then be taken to the Ministry of Economy and Planning and the Company’s details should then be published in the Companies Bulletin of the Ministry. After publication, the Ministry of Economy and Planning issues an approval letter.
- An application must then be submitted to the Sharjah Economic Development Department for a Trade License in Arabic and signed by the authorized signatory of the company along with a form listing the proposed name of the Company in Arabic and English; the original office lease; and the approval from the Sharjah municipality stating that the leased premises is suitable for the activity of the company.
- Upon payment of the fees and the submission of three passport size photographs of each Manager, the trade license shall be issued.
*This information was taken from Setting Up In Sharjah, Essam Al Tamimi
Following summary provided by the Sharjah Economic Development Department:
Establishing New Limited Liability Company –
- Licensing form issued by the Department indicating approval by the Department of Licenses to establish the company according to the activity mentioned therein. (Initial Approval of the Sharjah Economic Development Deparatment.)
- Articles of Association certified by the notary public.
- Bank letter (Sharjah) confirming deposited amount of the company’s capital by the partners according to the ratios set by the law, where the proportion of national partners is not less than 51% according to the quota mentioned in the Articles of Association.
- Registration of the Articles of Association with the Ministry of Economy.
- The officer then checks the documents and the receipt of the above mentioned documents and forwards the application to the Registration and Licensing Section of the Sharjah Economic Development Department for the issuance of the License and Commercial Register.
Posted on 27th July 2010 by Camille Paldi