Individual Local Sponsorship
Means the sponsor will be an individual. The individual sponsor can be a UAE or GCC nationality and they will own the majority part of the share. The main benefits of the individual sponsor are mentioned below:
New business opportunity’s
Many expatriates prefer an individual sponsor from a potential or well-known family in the UAE. This is with the intention to get the new business opportunity through their reference. So that the investor can enter the new business market.
To form a company with an individual sponsor the documents required are minimal and there is less bureaucracy involved. To process the company formation with a local sponsor is less time-consuming.
The annual fee is cheaper compared to the corporate sponsor.There is an annua sponsorship fee. This fee will be agreed between the local sponsor and an expatriate before forming the company. So, the annual fee will be cheaper for an individual sponsor compared to a corporate sponsor.