United Arab Emirates LLC

LLC is a legal entity in the UAE, which stands for Ras Al Khaimah Limited Liability Company. It is a form of company with limited liability and is not publicly traded. LLC requires a minimum of two shareholders and at least one director. Unlike other companies, LLC does not need to appoint a legal representative or have a local person serve as director, but it still requires a company secretary. The minimum registered capital starts at $1,000 and there is no capital verification required. RAK does not levy any type of tax on limited liability companies, except for natural gas and oil exploration companies and foreign bank branches, which are required to pay taxes without submitting tax returns. Depending on the specific business, companies need to apply for a license. Overall, LLC is a flexible form of company suitable for enterprises wishing to conduct business in the UAE.