A Limited Liability Company or LLC is very similar to a Private Shareholding Company except that there is a maximum limit to the number of shareholders, which is 50. This limits the liabilities in the case of loss or bankruptcy, hence the name.
The founder-shareholders are not obliged to offer the shares to the public and can subscribe to the paid-up capital in full. Management of the entity can be in the hands of UAE nationals, or foreign nationals or even a third party.
Some restrictions or criteria for establishing a Private Shareholding company:
General note: There may be slight variations in the Terms & Conditions for setting up the company in Dubai, as against rest of UAE. Please consult CSU for more details.