Middle East Company Sponsor Services @ Healy Consultants

Middle East Company Sponsor Services
In most countries in the Middle East, it is a legal requirement to appoint a local citizen to act as the majority shareholder of the company. Healy Consultants will source a sponsor to best meet the requirements of our clients. The following is an overview of the roles and responsibilities of the 'local sponsor', as the position is known in the Gulf.
1.	Having a local sponsor take a majority shareholding in a limited liability company is a legal requirement throughout the Gulf states, including for a Dubai LLC, a Bahrain LLC or a Qatari company.
2.	The local sponsor must be a citizen of the country of incorporation.
3.	The role of the local sponsor in the company is pre-agreed by both parties prior to incorporation. Healy Consultants will assist in drafting a mutually acceptable service agreement between our client and the local sponsor. This includes i) whether the local sponsor will receive a share of the profits ii) whether the local sponsor will provide share capital at start up or for the growth of the company iii) whether the local sponsor will have a hands-on role in the day-to-day running of the business iv) whether the sponsor will be a signatory to the corporate bank account v) whether the sponsor will be a company representative during contract negotiations and vi) whether the local sponsor will receive a salary from the company.
4.	The majority of our clients require a local sponsor who takes no active role in the day-to-day activity of the company. Although the local sponsor is technically a partner in the business, 100% management control will remain with the foreign shareholder. Healy Consultants will help draft a service agreement which reflects this. As a 'silent partner', the local sponsor is paid only a sponsorship fee to fulfil the legal requirement. Healy Consultants' annual local sponsorship fee amounts to US$15,500 (excluding a refundable deposit of US$3,300).
5.	If required, the local sponsor can assist with various business-related functions on behalf of the company, including i) assistance with obtaining visas and liaising with government departments and obtaining licenses ii) bringing local knowledge and networks of contacts to the company. The Middle East is a challenging place to set up a company and the presence of a local sponsor can help reduce the stress of dealing with government departments etc.
6.	A local sponsor is not required for Free Zone companies. Consequently, most entrepreneurs prefer to incorporate a company in a Free Zone, for example Jebel Ali.
Healy Consultants' local sponsor fees
Healy Consultants works with reliable, reputable local sponsors throughout the Gulf to fulfill this important legal requirement. The local sponsors are personally known to us, and we have conducted extensive due diligence on them. The annual local sponsor fee is US$15,500 (along with a refundable deposit of US$3,300).
Contact Us
For additional information on our company sponsor services, contact email@healyconsultants.com or call us at (+65) 6735 0120.
Back to Company Services page.

Buy Healy Consultants' Asia Business Set Up book for US$1000, to order call +65 6735 0120 or e-mail email@healyconsultants.com