COST OF SETTING UP A COMPANY IN DUBAI

Limited Liability Company is one with limited liability, where the number of partners may not exceed fifty and should not be less than two. Each of the partners shall only be liable to the extent of his share in the capital. The partners’ participation should not be represented by negotiable certificates. www.dubaibusinesskey.ae

The name of the Limited Liability Company shall be taken from its purpose or from one or more of the names of partners, the statement Limited Liability Company shall be added to the company’s name, stating the company’s capital.

Other than the insurance, banking, and investment businesses for others, the Limited Liability Company shall be entitled to practice any legal business.

The company may not resort to Public Subscription to make up its capital or to increase it or to get the necessary loans, and it may not issue any negotiable stocks or shares. Contact info@dubaibusinesskey.com

The minimum share capital shall be Dhs 300.000 divided into equal shares with a minimum face value of Dh. 1.000 per share.

• Shares may not be divided, and if several people owned it, they shall choose one to be an individual owner against the company, and it may fix for the share owners a time for such selection, provided that after that date, the share may be sold to its owners, in which case partners shall enjoy a priority in purchase.

• Losses and profits shall be divided equally among shares unless otherwise herein stated.

• The share of each partner shall be transferred his heirs and the ones mentioned in the will shall be treated as heirs.

• A Limited Liability Company can be managed by manager / managers that may be selected from among the partners or any other parties providing that they do not exceed a total of five persons.

• The manager / managers shall be appointed by memorandum of association or by a separate management contract for limited/unlimited terms. If the manager/managers are not appointed as stated in the above paragraph, the General Assembly of the partners will appoint them.

• Unless otherwise stated in the MOA, the company manager shall enjoy full powers of administration, and his acts shall be binding to the Company, provided that it is supported with stating the capacity he enjoys.

• The manager’s resolution shall be as responsible as that of the company board, all conditions in the company contract contrary to that shall be invalid.

COST OF SETTING UP A COMPANY IN DUBAI

Wednesday, 24 June 2015

COST OF SETTING UP A COMPANY IN DUBAI : COST OF SETTING UP A COMPANY IN DUBAI

COST OF SETTING UP A COMPANY IN DUBAI