When setting up a business in the UAE, you are required to have the local sponsorship agreement of a local UAE company, known as a local service agent. This business acts only as a local support to get and renew the licenses, visas and work permits connecting to your new business. A local service agent is not involved in the business operations and maintains a flexible approach with regards to sponsorship agreements. The arrangement between the company wishing to set up the branch and the local service agent will be set out in an agency agreement which has to be signed before a local notary public (The Sponsorship Agreement).
It is necessary to take on a local Emirates sponsor for any type of business if anyone want to start a new business in UAE. Only Emirates nationals or businesses totally owned by nationals may be appointed as local agents. Local agents also sometimes referred to as sponsors but these are not concerned with the operations of the business but help in getting visas, labor cards, etc. and are paid an average or a proportion of earnings or turnover.
Exec Pro provide you the best local sponsorship agreement. With our team of experts you can make an agreement on easy terms and condition. We make any local sponsorship agreement that would be clear and easy to understand without any hidden terms or conditions. Our panel of knowledgeable experts will always be there to help you with your business startup through to attaining the essential licenses, visas and permits compulsory for the conduct of your company. We will confirm that your company begins on the right way.
After signing the local sponsorship agreement one have become responsible to follow the terms and conditions written in that agreement.
Note that while forming an LLC, you must have a local sponsor as your business partner, though he will not invest any money in the business or share any profits earned.
Exec Pro will assist you to find the most reliable partner for your company.