Sole Proprietorship Abu Dhabi

Shuraa Business Setup02 Sep, 2024Business

Sole Proprietorship refers to a business structure where the company is owned by a single individual and the trade license is also issued in the name of that individual. Citizens of Abu Dhabi and members of the Gulf Cooperation Council (GCC) are eligible to set up a sole proprietorship Abu Dhabi. All the financial duties and liabilities of the organization are solely borne by the individual owner, also known as a sole trader or a sole proprietor. On the other hand, if the business owner is a foreigner, then they are obliged to hire a Local Service Agent (LSA) to help them with the licensing and visa processes.