Traditionally, before a foreign investor can acquire a mainland license for doing business in Dubai, a local sponsor should be present as part of the requirements. Local sponsors, or as others called, local service agents, are an Emirati national or a corporate entity who holds 51% of the company’s share. This rule only applies to all foreign investors who wish to set up their company in the mainland of UAE and, in most cases, those who conduct commercial, industrial, and trading activities in the UAE. However, those who hold a professional services license are exempted from this rule. Looking for a local sponsor to set up a business in Dubai can be tedious work. In fact, there are different types of local sponsors that you should know about before looking for one, and the types will depend on the business activities you wish to undertake. The types of local sponsorship includes:
Choosing the right local sponsor for your company must be overwhelming since you have to find a trustworthy person or a company to entrust your business’ stake. Good thing IBG Consulting offers business setup services in Dubai, including finding your local sponsor or being your local service agent. You can see below the sponsorship fees of IBG to give you an idea of how much you need to prepare in acquiring a local sponsor in the Dubai business setup. Sponsor Type Individual Sponsorship= AED 6,000 Corporate Sponsorship= Starts from AED 10,000 Since a local sponsor is crucial to the business's future success, experts from IBG Consulting will help you strategize on what type of local sponsor is suitable for your business. At IBG, we can help you avoid jumping into an agreement with a local partner without proper research and considerations. We provide exceptional and professional PRO agents and consultants to help you gain access to the best and most reliable sponsors in town, giving you worry and hassle-free incorporation. We do not just settle for providing the best service provider but also being a sustainable partner to our clients. Feel free to contact us if you are looking for a local sponsor or visit our website for our service.
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June 2019
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