You don't actually need to have a capital of AED 300k - you just need to show you have this deposit in the bank. The bank then issues a certificate of balance addressed to the Economic Department, based on which the license is granted (usually in day) and deposit released. Many banks actually provide a loan which is then repaid as soon as the license is issued!

Either you are illegal, or you are not a LLC.

So, you do not need to have AED:300k; but you need to have AED:300k?

good luck fella but there's only one reason they insisted on a pdc...

been sweating on some big money this month, every bit came through today to my absolute amazement

The bank will provide a "loan" that is held in a call account (under lien) for a fee. It is risk free for the bank as the funds are held with them. You don't need to have your "own" funds.

Yes, sorry Boxman, sullied your thread with off-topic arguments.
Some banks will take no notice of PDC's and will simply honour the cheque if it is correctly signed and the funds are availabe in the account.
Can't hurt to present the cheque and see what happens; your bank can only get back to you with the reason if the cheque fails. If it is because it is wrongly dated, you can represent the cheque on the due date. If it is because the account is closed then you will need to worry.
But present the cheque now!

i know somebody who has just set up a couple of businesses in ad and from what she has told me there are ways around it, doubt very much that she has that sort of money or would be able to raise it either.

Please don't talk tosh because of your ignorance of available options.

I am legal and an LLC.

OK, ignoring – for the moment - your chronic and offensive impoliteness; here’s a deal that should appeal to your self-image as a clever and resourceful person, and – in the process - earn you some revenue, should you turn out to be as clever and resourceful as you imagine.
• You and I will engage a legal practice and instruct it to draw up for us an Agreement of Terms (you can choose any legal firm you wish, so long as they can prove themselves to be 100% qualified to practice in the Emirate of Dubai).
The terms of the agreement, essentially (but, of course, subject to fine tuning) will be these:
• Our lawyers will set up an escrow account, into which I will deposit AED: 600k and you will deposit AED: 500k.
• You will then set up a 100% legal-in-Dubai LLC company (calculating, from your own quoted figure of ‘a few dhs (ok 50,000dhs plus)’ your outlay will be more than covered by the extra 100k I will pay into the escrow account.
The bond will be released to the person concerned immediately one of the following conditions is met:
• To you, should you give sight to me and the lawyers of the LLC licence and Chamber of Commerce certificate.
• To me, at close on the 30th day after the inception of the bond.

How about it?

‘...and that it will remain in the account until such time as you furnish the bank with sight and copy of a valid trade licence.’ (Should, more accurately, have said ‘The' trade licence).
Does that sound like a lien to you? It is, manifestly, a lien to me.
As to a bank extending a loan simply to aid an entity to set up a LLC, the bank is at great risk - should the principal entity decide to abandon the project and skip town:
a) It will lose the projected interest revenue from the ‘loan’.
b) The authorities would have the right to recover from the account (remember it is the capital ‘asset’ of the ‘company’) any outstanding fees, fines or out standings. The bank could not claim it as a loan, because it has certified it to be as otherwise.
The BCCI might have been willing to go down the ‘loan’ route, but since the (1991?) BCCI debacle, it would have to be a bank with an officer unconcerned with the consequences from failing to perform Due Diligence that would authorise such a risky procedure.

How can it be a capital asset of the "company" - the company does not exist until the Trade Licence is issued.

Anyway, I am telling you that some banks do give loans, this practice exists - am not commenting on whether it is right or wrong/ risky or not risky...

As previously stated, you have been well and truly sucked in.

If you really wish to go down this road, then have a legal document drawn up, and providing everything is in order, I have no problem taking your 600k.
But I would want 60 days just to be on the safe side (in case of a period of mourning etc).

However, just a cursory google or local search would confirm that I am right.
Happy New Year.

My full details are on PM to you. 60 days is OK with me.
Get back with your details and we'll get things moving.

Will we get regular updates on this rich idiot pissing contest?

I, for one, am fascinated.

If you improve your manners, you will be invited to the victory celebration.

BTW, in what way is gaining half a mil. idiotic?