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June 12, 2012

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Dubai is a well-respected pathway to the East, and since it became a financial hub, companies that engage in all types of business activities are now looking to establish a presence here. Setting up a Local Company is an excellent way to enable you to have a presence in Dubai as well as operate within the local jurisdiction.

The important issues to consider when establishing local companies include the availability of excellent ties with local partners. UAE law dictates that 51% of the shareholding of a local company must be held by a UAE national.

You should look to secure local partners who are able to give you the comfort and security to run your business in the UAE market with confidence. Another important legal consideration revolved around the agreements which you will form with your local partner. It is also important the activities are legal and regulated. Here, it is important to note that Limited Liability Companies (LLC) are relatively flexible in that they enable any legal business to be carried out in the Local Market , other than insurance, banking, or investment businesses.

You have various options when it comes to incorporation of a local company, and the seven categories of business organization defined by the Law are: General Partnership Company, Simple Limited Partnership, Private Joint Stock Company, Limited Liability Company and Partnership Limited with Shares.

The most common business structure chosen is the LLC, which is characterized by limited liability. Each of the partners shall only be liable to the extent of his or her share in the capital.

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Comments

i am a Mexican national that want to do a business formation in one of these free zones ...but I read that I need to have 51% ownership by nationals ? ....I am not in business to give away my house....I am seeking a legal structural to deposit my trade proceeds and gain tax advantages on my own ...without partners. ...can you help?...I have submitted a message already...please reply
HERLIN TORRES
2019-12-11
The UAE has various Free Zones where 100% foreign ownership is possible. Moreover, with recent changes in the foreign ownership laws, it could be possible to hold 100% foreign ownership in mainland too. So that we can discuss the various options with you, I request you to schedule a meeting with us. If you are in Dubai, you may walk in to our office. Otherwise, we can do a Skype consultation for you.

Should you have any questions, please do not hesitate to contact us.   Dr. Hassan Elhais

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