In UAE, it's mandatory to have a local sponsor (UAE national) when setting up a new business. A company must have legal documents to show that 51% of the shares is owned by a local. The Sponsor is a sleeping partner and is only required to fulfill the legal requirement. The sponsor has no rights on the business management, turnover or profits.
We at INBMS assist companies and individuals by introducing them to trust worthy, dormant and reliable partners. We have stringent procedures to assess suitable nationals as local partners. We only recommend credible individuals as sponsors who have a well-established track record of non-interference in the businesses of our clients.
In the case of a professional practice, a local service agent is required, but this agent has no involvement in the company's business operations, management or profit sharing. The agent merely acts as a representative when drafting legal agreements and establishing other business documentation required in Dubai.
If you are considering sponsorship for your new business or are not satisfied with your current sponsor, we can assist you with suitable business sponsors.