Adding Partner & Capital Increment in LLC License
What are the procedures of adding Partner and Capital increment in LLC Company (Dubai)?
LIMITED LIABILITY COMPANY (LLC) AMENDMENT
SCENARIO: New investor wants to join an existing LLC License and partners agreed to increase capital in Memorandum of Association Agreement. No need bank certificate for increased capital.
STEPS TO FOLLOW
|DESCRIPTION||FEES IN AED|
|Initial approval from Department of Economic Development (DED) or Tas'heel Centre. Type (BR1) form, get signature of the existing and new partners and submit at DED. Form can be filled from Typing Centre.
Attachments: Existing LLC Agreement (MoA), Copy of Trade License, Partners List, Passport copies of partners, NOC from sponsor for new partner who holds Employment Visa/Residence Visa. Visit/Tourist Visa holder can attach his/her visa copy. No need NOC for Partner/Investor visa holders.
DED officer will write No Objection for adding/removing partner at the bottom of the BR1 Form.
|150 at Tas'heel Centre|
|Type Addendum to LLC Agreement (Share Sale & Capital Increment Agreement) from a legal translator and get attested from Notary Public at Al Tawar Centre or Al Barsha or DED at Business Village near Clock Tower. Legal translator's seal is not required if the the agreement is only in Arabic. CAPITAL: You can write the capital amount in LLC Agreement as much as you want. No need to show Capital deposit certificate from the bank. Notary will charge a small percentage at the time of attestation according to the Capital amount and number of partners. 51% should be allocated to National Partner and remaining 49% can be divided among expatriate partners. If the expatriate partners are three, you can put capital Dh500,000 and divide 49% as you like. You can increase capital according to the number of partners. A partner's share value should be Dh70,000 or more to apply for Partner/Investor Visa.
• It is difficult to get partner visa for more than two partners.
|Attestation fee at the court (Notary Public)||1350 (Approx)|
|All Partners or Attorney have to attend at Notary to sign the Court Agreement.
If any existing partner wants to withdraw from the company and he/she is outside, he/she can send Power of Attorney authorizing other Partner to represent him/her at the Court. This Power of Attorney should be attested by UAE Embassy in home country and Ministry of Foreign Affairs in UAE. It should be translated into Arabic (legal) if it is made in other language.
|Submit the attested Addendum (one original copy), BR1 form, Passport copies of partners and NOC for partner (if any), at any branch of DED or Tas'heel Centre. Payment voucher will be issued same time or you can take print from DED website. Make payment at the counter and get the license. You can also pay using Credit Card/Direct Debit through DED website after issued the payment voucher. You will get new License with new partners name.
If this is the time for License Renewal, you should attach EJARI Registration Certificate also. Renewal fees will show in the Payment Voucher.
Do you need this service? Mail your queries to firstname.lastname@example.org
Approximate fees for Adding Partner & Capital Increment in LLC License at DED
Break-up cost of Adding Partner & Capital Increment in LLC License at DED
|Description||Fees in Dhs|
|Partner Addition Fees||500.00|
|License Modification Fees||50.00|
|Capital Change Fees||500.00|
|Government Cultural Fees||20.00|
|Administrative Services Fees||50.00|
|Partner Accommodation Fees||306|
|Dubai Chamber Modification Fees||100.00|
|Ministry of Economy & Commerce Fees||1000.00|
|Total Fees (approximately)||2526.00|
Walk-in Submission facility is available at Tas'heel Centers.
Appointment: You have to take online appointment to submit applications at Economic Department (DED) Head Office, Business Village, Near Clock Tower, Deira, and Dubai Mall branch.
How to make online appointment?: Create a new user account through MYID Website. You should have Emirates ID and Card Reader to complete the registration. After submitting required information, you will get a username and password. If you have difficulty in creating User Account, you can go to Tas'heel Center. Fees: Dh50. Self service kiosks are available at DED Branches, Municipality Service Centers and all other government departments. This user ID is common for all government services under Smart Dubai.
• After creating the account, enter DED site and make appointment. Submit the documents at the selected DED branch.
• Appointment system can be used to avoid waiting at DED.
• If you want to change Authorized Signatory in Dubai Chamber, you can do it after the new License issued. Dubai Chamber branch is there at the same DED building. Collect Registration Form from there, Fill the information, Put authorized signature and company stamp and submit at Dubai Chamber counter. Payment already made at DED along with the License Amendment fees.
Documents required: Filled form, Copy of Trade License, Partners List, Commercial Register (3 pages of trade license), LLC Agreement, Passport copy of Authorized Signatory and DED Payment Receipt of Trade License.
Chamber Certificate is required for Export & Import purpose, for Registration with various Government Departments and to expand business to other Emirates and abroad.
|DESCRIPTION||FEES IN AED|
|Immigration Establishment Card
If you want to change Authorized Signatory in Immigration Establishment Card, you can do it after the new License issued. Application can be prepared from Typing Centre. Put Company Seal and Signature of Authorized Signatories and Submit at Immigration Office. Card will be issued same time. Power of Attorney is required if the power is not mentioned in the LLC agreement for the authorized signatory.
Attachments: Typed Application, New Trade License Copy, Partners List, LLC Agreement and new Addendum, Power of Attorney (if any), Passport copies of authorized signatories. If this is the time for Immigration Card Renewal, you should add Dh3900 Read more
|Labour Establishment Card
If you want to change Authorized Signatory in Labour Establishment Card, you can do it after preparing special labour power attorney and get it attested from Notary. Power Attorney can be typed from Typing Centre and Labour Establishment amendment form should be typed from Tas'heel Centre. Submission at Labour Office. Amended Card will be issued same time. Read more
No Government Fees. Pay Typing Charge only at Tas'heel Centre
DED (Economic Department) BranchesHead Office: Business Village
Near Clock Tower
Tel: 04-4455006 (VIP Section)Al Tawar
Al Tawar Centre, First Floor, Qusais, Deira, Dubai
Tel: 04-601 3333
Tel: 04-382 7709
Bur Dubai, Al Barsha 2, Street 23rd.
Tel: 04-202 0429
Saturday to Thursday 7:30am to 1:30pm