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Sole proprietorship company formation is an exciting opportunity as it’s a company owned and run by an individual and the business license too is issued in their name. It’s a common company set up for individuals involved in professional services. A distinctive feature of the sole proprietorship setup is that it is prohibited from involving any shareholder or partner, as well as a company or corporate body.
Setting up a sole proprietorship comes with significant advantages for the individual involved, these are:
Owners of sole proprietorships enjoy having complete ownership of their businesses, regardless of whether these are local owners or foreign owners.
A massive benefit for sole proprietorships and other companies set up under the mainland license is that they can easily conduct business activities anywhere in the country, including free zones.
To make sole establishments more accessible to qualified people, the UAE Government has permanently waived off paid-up capital requirements that were once set in place for these company types.
Those looking to set up businesses in the service-providing industry have the golden chance to set up their establishments as LLCs. Through anLLC structure, personal assets of the investor remain safe, and they are liable only to the extent of the funds invested in the business.
Much like with other licenses and company types, for a sole proprietorship company formation as well, you need to submit all documents as per the requirements set by the DED. This ensures the smooth processing of your application. Here are the documents required for the same;
Naraina, Delhi 