Approve in the Memorandum

The most common form accepted by foreign companies is the limited liability company and set out lower are certain of the key issues to be painstaking in relation to such entities. Company name The name of the company should be resulting from its objects or the name of one or more of its associates although this is not mandatory. It is possible to get the approval of the relevant authorities to a specific name prior to proceeding with an application for registration. Local shareholding The law runs that at least 51% of the total shareholding in a limited liability company must be seized by a UAE national (or a company wholly owned by UAE nationals). Minimum share capital The current minimum share capital obligatory for limited liability companies is Dhs. 300,000 if listed in Dubai or Dhs. 150,000 if registered in any other emirate.

Share principal must be fully paid up and left with a locally registered bank. Contributions in kind are acceptable under certain conditions. Profit and Loss The profits and sufferers of a limited liability company can be distributed between the shareholders in, subject as said below, whatever proportions they approve in the Memorandum of Association The ratio does not essential to reflect the shareholding and indeed often diverges in order to dilute the mandatory 51% UAE national shareholding. It is not however allowed for the parties to express a profit share in the Memorandum of Association which meaning to entitle the local shareholder to less than 20% of the profits.

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