All the best for your new venture. Please note, i had heard of many sponsors taking over the control of the company once it is established, here maximum percentage that a foreigner can hold is only 49% and balance 51% the sponsor can claim any moment. Here it is more common than in Dubai, so be very careful in selecting the sponsor as there is no foolproof way to avoid it, legally you can reduce the risks so consult a good legal consultant before making the WLL agreement. One more thing you has to note is there is no legal standing for the parallel agreement with the sponsor regarding his rights and ownership claims other than the official WLL agreements as normally you do in Dubai.
Sponsor's family name is important here to do business as everybody checks that 1st so find a good sponsor from a reputed family.
All the best for your new venture. Please note, i had heard of many sponsors taking over the control of the company once it is established, here maximum percentage that a foreigner can hold is only 49% and balance 51% the sponsor can claim any moment. Here it is more common than in Dubai, so be very careful in selecting the sponsor as there is no foolproof way to avoid it, legally you can reduce the risks so consult a good legal consultant before making the WLL agreement. One more thing you has to note is there is no legal standing for the parallel agreement with the sponsor regarding his rights and ownership claims other than the official WLL agreements as normally you do in Dubai.
Sponsor's family name is important here to do business as everybody checks that 1st so find a good sponsor from a reputed family.