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Changing business structure

Only some businesses can change their structure. The most common change of business structure is from a sole proprietorship to a limited liability company. It is important to note that an LLC cannot change its business structure because of the limitations put on foreign ownership. If the partners of an LLC want to restructure their company by selling their shares to a single owner and forming a sole proprietorship, they will need to cancel the original trade licence and start the business set up process from the beginning.

The procedures and documents needed for changing from a sole proprietorship to an LLC or other structure are the same as starting a new business. The outcome however, will not be a new trade licence but a modified one.

 
Another option is ‘going public’ by selling shares of your company. Generally private companies who need additional capital for growth which cannot be obtained personally by the principals or from venture capital or financial institutions may ‘go public’ using the Dubai Financial Market. Such a decision is an important strategic one that should be made after obtaining financial advice and within the scope of a well developed business plan.
 
Business Structures – Department of Economic Development
License Amendment – Department of Economic Development
Procedure to Become a Shareholder Company – Department of Economic Development
Investor Guide to using Dubai Financial Markets – DIFC(36 page PDF Investor Guide)

 

Published Date : 13/06/2017Back

RELATED GOVERNMENT ENTITIES

Department of Economic Development
Dubai Electricity & Water Authority
Ministry of Labour
General Directorate of Residency and Foreigners Affairs
Dubai Courts
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Etisalat
Du

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