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| Types of Incorporation |
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PRIVATE SHAREHOLDING COM |
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At least three persons need to create a Private Shareholding Company in UAE. A Private Shareholding Company in UAE cannot issue shares to the public for the subscriber. This is the difference between public shareholding company and private shareholding company. At least AED 2 million (US $ 544959), the chairman and majority of the Directors in a private share holding company must be Emirates.
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LIMITED LIABILITY COMPANY |
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Professional Company in UAE This is the most common form of Business Setup in UAE. currently. Minimum two and maximum 50 persons need to form a limited liability company whose responsibly is bounded to their shares in the company capital. Minimum 51% capital of the company holding by the emirates to form the company. AED300, 000 (US$ 81,744) capitals required to create a limited liability company in Dubai. On the other hand AED150, 000(US$ 40,872) need for the other part of Emirates. Profit or loss distribution can be prescribed and responsibility of management of an LLC can be vested in the foreign or national partners or third party. The shares of such company are not open for subscription by the public and they do not issue negotiable shares.
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JOINT VENTURE (CONSORTIUM COMPANY) |
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A Joint Venture is a type of company where two or more partners agree by contract to share the profits or losses of one or more commercial enterprises, which will be carried on in the name of one of the partners. Contract of Joint Ventures may be written or oral and not required to be notarized. Third parties can recourse only to the partners with whom they deal. However, should the Joint Venture is disclosed to the third parties, all the partners are liable to the third parties. Existence of Joint Venture may be proved by any method of proof. |
To setup your business in uae, dubai, setup company in dubai, uae, free zone or outside free zone, Contact us for free quote, information.
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