Corporate Laws For Business In Dubai
Corporate laws are set to govern business dealings in a jurisdiction. You can find a lot of corporate law firms in UAE offering Corporate Legal services.
Business organizations in Dubai can be categorized as follows:
Partnership company
Joint venture
Public/private joint-stock
Limited liability company
In this blog post, we will be sharing corporate rules for setting business in Dubai. Let us take a look at it in detail:
All companies should draft a Memorandum of Association in Arabic and should be legalized by a public notary. In the case of foreign investors, they can draft the memorandum in their language but they should also submit its version in Arabic for trade registration.
All businesses in Dubai should possess a commercial license covering all types of trading activity, professional license for craftsmen and industrial license for setting up industries.
Foreign investors can register joint-stock and limited liability companies as holding companies in Dubai.
A single shareholder has the provision to set up a limited liability company.
A minimum share capital of 30 million AED is required to register a public stock company whereas for the private stock company it is 5 million AED.
Each license for business should be obtained from the concerned ministries such as the Ministry of Economy and Commerce, Finance Ministry etc.
Hope this article is worth reading. This blog post is intended to provide a basic guideline to people who are planning to start new businesses in Dubai. You can also seek the help of business lawyers before setting up companies in Dubai.