LOCAL SPONSOR SERVICES
LOCAL SPONSOR SERVICES
Local service agent or nominee shareholder are termed as local sponsors in any country that has foreign investment in the mainland company. Likewise, the local sponsor is essential for setting up a business organization in the UAE, and the sponsor has to be a UAE national. Business operating outside the Free Zone authority needs a local sponsor to be compulsorily appointed.
The local Sponsors will serve as a representative to the UAE Government. These sponsors who understand all the company’s needs and demands is an achievement for a corporate objective. Local sponsors are classified into three types in the UAE, and among them, the selection is based wholly on business activity.
Types of Sponsorship in Abu Dhabi
A sponsor connects you to various partners, networks, and organization resources to help you enlarge your business. The type of local sponsor that you choose for your organization is a chief task. Here are the three types of local sponsorship listed for your business:
Individual Sponsorship – applies when you have an individual capacity that becomes your sponsor. Individual sponsorship works when you want to set up a trading company or a limited liability company.
Corporate Sponsorship – applies when a company holds more than 51% of your shares, and the company is owned by an individual or a group of international or local partners — works when you want to set up a limited liability, manufacturing or trading company.
Local Service Agent – is a professional entity that represents the company in all administrative dealings and other legal formalities. A local service agent works when you want to appoint for a professional license, representative office for a branch of the foreign company.
