The growth of international businesses in Dubai has made it a major commercial hub for global institutions and companies. The articles below provide an insight into the different types of business organizations in Dubai, and the processes involved in the dissolution, amalgamation, transformation and liquidation of businesses.
Businesses in Dubai do not pay direct taxes on corporate profits or personal income (except for oil companies that pay a flat rate of 55% and branches of foreign banks that pay a flat rate of 20% on net profit generated within Dubai). Customs duties are low at 4% with many exemptions. Businesses can avail 100% repatriation of capital and profits. There are no foreign exchange controls, trade quotas or barriers. A stable exchange rate exists between the US Dollar and the UAE Dirham (US $1.00 = AED 3.678). Liberal visa policies permit easy import of expatriate labour with various skills and expertise.
Foreign investors can choose between several types of cooperation and partnerships for conducting business in Dubai.
The Federal Company Law stipulates a total local equity of not less than 51% in any commercial company and defines seven categories of business organization, which can be established in the UAE:
General Partnership – formed by two or more partners who will be jointly liable to the extent of all their assets for the company liabilities
Simple Limited Partnership – formed by one or more partners liable for the company liabilities to the extent of all their assets, and one or more limited partners liable for the company liabilities to the extent of their respective shares in the capital only.
Joint venture – a company concluded between two or more partners to share the profits or losses of one or more commercial businesses being performed by one of the partners in his own name. Local equity participation must be at least 51%
Public Joint Stock – any company whose capital is divided into equal valuable negotiable shares will be considered a public joint stock company and a partner shall therefore, only be liable to the extent of his share in the capital
Private Joint Stock – a number of not less than three founder members may incorporate amongst them a private joint stock company whose shares are not offered for public subscription. The founder members will fully subscribe to the capital, which must not be less than two million Dirhams.
Limited Liability Company (LLC) can be formed by a minimum of two and a maximum of 50 persons whose liability is limited to their shares in the Company’s capital. Most companies with expatriate partners have opted for this LLC, as this is the only option which gives maximum legal ownership.
Share Partnerships – a company formed by general partners who are jointly liable to the extent of all their assets for the company liabilities and participating partners who are liable only to the extent of their shares in the capital.
Apart from these seven categories, investors are encouraged through Branches and Representative Offices of foreign companies and 100% foreign owned professional firms.
I had the pleasure of consulting with Dr. Hassan AlHais, and I must say the entire experience was exceptional.The reception and meeting area were impeccably clean, quiet, and managed to the highest standards, creating a welcoming and professional atmosphere. View testimonial
Abdullah Client
Verified
I had the pleasure of consulting with Dr. Hassan AlHais, and I must say the entire experience was exceptional.The reception and meeting area were impeccably clean, quiet, and managed to the highest standards, creating a welcoming and professional atmosphere.The customer service was outstanding.. View testimonial
Salam Amir Client
Verified
Dr. Hassan is brilliant. I have been working with him for more than 15 years. His work product and legal advice are of the highest caliber. Competent. Professional. Knowledgeable. Analytical and strategic thinker. Honest. Without exaggerating, Dr. Hassan is the best family litigator in the UAE. Highly recommend.
Abed Awad Client
Verified
I owe the success of my case to Dr. Hassan's diligent approach. He remained focused, put me at ease and always went the extra mile. Dr. Hassan tirelessly put my case in the best possible light and I cannot thank him enough. I would highly recommend Dr. Hassan - I am grateful to him from the bottom of my heart.
Raphael Lauria Manager, FME General Trading
Verified
Regardless of the complexity of the matter I know Dr. Hassan Elhais will consider not only legal strategy but also business practicalities in providing advice and litigation options.
Dr. Massimo Hakim Chairman, Italian Style
Verified
I recommend Dr. Hassan Elhais to anyone who says 'I'm in legal trouble'. I was extremely satisfied with the high standard of his work. He has always been there when I have needed him and I refer all my clients, family and friends to him/his firm.
Manish Gupta CEO, EDS FZE
Verified
Best lawyer in Dubai.
Aigul Beishembieva Client
Verified
Happy with the team of Mr. Hassan Elhais. Knowledgeable on UAE laws and i got the advice i was looking for. Highly recommended!
Mukesh Pandey Client
Verified
Dr. Hassan Elhais was very professional and he listened to my needs. He was very prompt, efficient and always kept me informed. Dr. Hassan Elhais's service was excellent and I would definitely recommend him to friends and colleagues.
James Horsley British Client
Verified
Their team of attorneys are not only highly knowledgeable and professional but also incredibly attentive to the needs of the client. They will provide you with a top-notch service every step of the way. The staffs are friendly, responsive, and always kept you informed about the progress of your case. I highly recommend this for anyone in need of legal assistance.
May Ann Adrias Client
Verified
...the extraordinary effort that has been exerted by the staff, and we specially thank Dr. Hassan Mohsen Alhais. Wishing your continues success & excellence...
H.H. Sheikh Saeed Bin Mohammed Hashir Al Maktoum
Verified
We are extremely happy to note that you won all three cases which we entrusted to you. Your superb handling ensured the result in our favour. We very much appreciate this and feel grateful to you. You not only won the cases, but managed to get the judgement executed without much delay..View testimonial
Chandru Malkani Client
Verified
Dr. Hassan Elhais is among the best legal consultants I have ever worked with. He has an amazing ability to reduce complex issues into a simple concept that non-legal people can understand. He consistently develops innovative litigation strategies that help us to achieve our ultimate legal goals.
Zhuo Liu Client
Verified
I believe everyone should recognize what a difference Dr. Hassan Elhais work has made to people's lives; and especially to our family's life, because we will remain forever grateful to each and every one of his team.
Luis Pozueco Client
Verified
Dr. Hassan Elhais never fears cases that involve exposure and he always gives me his honest assessment of our chances of success, which is invaluable to me.
Bassam Yamout Director, JM Metal Trading LCC
Verified
Dr. Hassan Elhais is a responsible, reputable counsel who operates to high levels of service.
British Client
Verified
Dr Hassan Elhais is responsive, thorough and creative with his advice, and is a valued advisor and legal consultant.
Asma Mattar Manager, Italian Style
Verified
Knowing Dr. Hassan for years now, I can say confidently he is the most trustworthy person I ever met, not only because he is very knowledgeable, smart and has a very high acumen, but also he is very dedicated and buying his clients and interest first..View testimonial
Ahmed Higazy Client
Verified
I have had nothing but exceptional work from Dr. Hassan, all my family and business related legal work goes to him. Having been in and out of Dubai since 2004 and having wasted money on bad legal advice elsewhere, I feel VERY qualified to say that he is absolutely the best in the UAE. Thank you Hassan.
Rich Firth Client
Verified
Dr. Hassan is the best lawyer in UAE I have dealt with, he is very professional and has consistently upheld the highest standards of professional ethics, ensuring that my best interests were always at the forefront. I wholeheartedly recommend Dr. Hassan to anyone..View testimonial
Hossam ElDeeb Client
Verified
Ex UK Senior management now running a busy business in Dubai that requires bulletproof corporate legal contracts that are customised to our unique needs. This includes everything from HR contracts to complex sales agreements. Dr. Hassan has undoubtedly proven to be the best legal expert we have encountered here..View testimonial
