Business setup, also commonly referred to as company formation, is a process wherein a business is registered legally with the authority. It’s also referred to as company registration or incorporation. The business that is being registered is one that has not initiated business activities or an existing organization that is restructured. The process involved with business setup in Kiklabb free zone is fairly simple and company registration in one of the best free zones in Dubai offers myriads of benefits, some of which we’ll cover in detail in this blog.
There are different kinds of businesses that can be established in Kiklabb free zone. For this blog, we’ll focus on the most popular one, which is the limited liability company.
Reason to set up a Business
The main reason why entrepreneurs and investors opt for business setup in Kiklabb free zone is because of the financial and legal protection the limited liability company offers. Limited liability companies allow businesses in becoming separate legal entities in their own right. This means an LLC is completely distinct from the owners. The company itself may enter into contracts, as well as be solely responsible for its finances. An LLC’s owners aren’t personally liable to the debts of the company, as well as legal claims or financial obligations.
This differs from a sole proprietorship for which there isn’t any legal distinction between a business owner and the business. A sole trader can be made wholly responsible as to all the debts the business incurs or any claims that have been made against the business as there’s no separation between business and personal finances. Simply put: if the sole proprietor owes some money, the business owner owes money as well. As for an LLC, when it owes money, the business is the one that is responsible for its settlement rather than the owners.
Furthermore, company formation in Kiklabb free zone provides businesses with their own corporate image. The limited status makes businesses appear larger, reliable, professional, and more established. As a result, an incorporated business is deemed to be a safer bet for all potential investors, clients, suppliers, and lenders. There are a number of organizations and large firms that are reluctant in getting involved with businesses that are not registered; therefore, company formation, specifically, the setup of an LLC in Kiklabb free zones, opens a lot of doors and furthers the potential of a business.
Don’t forget the fact that Kiklabb business setup is essentially the gateway to Dubai and businesses are able to benefit from high tech infrastructure, zero corporate tax, and resources essential to the growth and success of businesses.
Kiklabb free zone company formation: The Process
The registration of a limited liability company with the Kiklabb free zone is easier than one might think, most especially if you seek the help of a company formation specialist. It is not recommended to undergo incorporation without the skills of an expert as it bloats the expenses from errors int the process.
Business setup experts belong to a company formation firm that simplifies the entire process. Typically, a new company can be registered in less than two weeks with costs far less than doing the business setup procedure unsupervised by professionals.
You may want to know: Cost Involved for Business Setup in Dubai
For Business Setup in Kiklabb free zone, you must have:
- An approved company name – the company name that’s been approved by authorities is the legal name of the new company. The company name that you choose should not be the same or too similar to an existing registered company. Business setup experts can also help you in making a decision regarding the name of your company as they can run a check to the availability of your desired name.
- At least one company director – the director appointed by the new company will manage the daily activities of the company lawfully and for its best interests. The director can be a local or foreign national. There’s no limit as to the number of companies or individuals appointed as directors.
- One shareholder or guarantor – guarantors or shareholders are legal owners of an LLC and they’re known as the members. There are no limits as to the members a company can have and the members can be companies or individuals.
- A registered address – the official address of the company will appear on Kiklabb authority’s registry following company formation. What is great about Kiklabb business setup is it allows businesses to have workspaces in the prestigious Queen Elizabeth 2, which is in the newest waterfront destination of Dubai. It is close to everything that your business may need and it’s rich with UAE maritime heritage.
We know you are also considering Kiklabb business setup. It’s understandable as so are a number of entrepreneurs in UAE and internationally. If you would like to start the company formation process, call us today for more tailored advice.