Terms & Conditions for Conducting Business in Dubai
By Online Editor
Jul 28, 2004, 07:24
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1. Nationals of the United Arab Emirates:
United Arab Emirates nationals may conduct all commercial, professional and industrial activities subject to the approval issued by the concerned authorities depending upon the activities. For example, media activities require approval of the Ministry of Information and Culture.
They may carry on activities through any of the following legal forms:
Individual establishment
Limited liability company
Joint liability company
Private shareholding company
Public shareholding company
Civil business company
2. Nationals of Gulf Cooperation Council Countries (GCC)
GCC nationals may conduct most commercial, professional and industrial activities, subject to the approval issued by the concerned authorities depending upon the activities. The may conduct activities through any of the following legal forms:
Individual establishment
Limited liability company: one or more UAE national partner is required, with a shareholding of not less than 51% of the paid-up capital.
Private shareholding company: one or more UAE national partner is required with a shareholding of not less than 51% of the paid-up capital.
Public shareholding company.
Civil business company: two or more GCC nationals may establish a civil business company to practice a specific profession without a local services agent. However if there are one or more partners who are not GCC nationals, a local services agent who is a UAE national shall be appointed or included as a partner.
Nationals of Other Countries
Nationals of other Arab or foreign countries may conduct economic activities through any of the following legal forms:
Individual establishment: may be established to practice only professional activities, and subject to the appointment of a local services agent who must be a UAE national.
limited liability company: may be established to carry on any commercial or industrial activity, including one or more UAE partners whose shareholding shall not be less than 51% of the paid-up capital.
private shareholding company: may be established to carry on any commercial or industrial activity, including one or more UAE national partners whose shareholding shall not be less than 51% of the paid-up capital.
civil business company: two or more persons may establish a civil business company to practice a profession, provided that a local services agent, who must be a UAE national is appointed or included as a partner.
Public Shareholding Company: Board of Directors takes the decision of allowing non-UAE nationals to become shareholders.
Foreign Companies:
Any company incorporated outside the United Arab Emirates may conduct any commercial, industrial or professional activity through one of the following legal forms:
Branch of a foreign company
Limited liability company: may be established to conduct any commercial or industrial activity, including one or more UAE national partners, whose shareholding shall not be less than 51% of the paid-up capital.
Private shareholding company: this kind of company shall be established to operate any commercial or industrial activity, including one or more UAE national partner whose shareholding shall not be less than 51% of the paid-up capital.
Public shareholding company: Board of Directors take the decision of allowing non-UAE nationals to become shareholders
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