B7 IS AN EMIRATI (UAE LOCAL) OWNED COMPANY.
For a Foreign Investor to set up a mainland (non-freezone) company in the UAE, Local Sponsor is a compulsory requirement.
The local sponsor must be UAE National.
Local sponsors own 51% of the company. However, Sponsors usually do not interfere in any of the company’s activities but holds power to sign Immigration and Labour related affairs of the company.
Commonly, with the help of a power of attorney, the Sponsor, hands over the entire control of the business and its day-to-day operations to the foreign investor.
B7, being an Emirati-owned company has network of UAE Nationals who can sponsor and support expats in setting up their business.
WORKING WITH A LOCAL SPONSOR
Advantages of doing business in the mainland with a Local Partner/ Sponsor:
Being able to trade locally within the UAE market,
LLCs formed with a local partner are 100% tax free
Expat investors can repatriate 100% of their profits and assets.
Able to open unlimited branches within the UAE.
Can bid for private and government projects that are not available to free zone or companies without a Local Sponsor.
Expat Investors are given investor status which allows them to obtain residence visas for themselves and their dependents.