Choose Your Company
When a local businessman or an expatriate investor decides to exercise a business or industrial activity in Abu Dhabi Emirate, he may do so through establishing a local or foreign PROPRIETORSHIP, or he may join other natural or legal persons willing to combine efforts, expertise and money so as to initiate
A joint company.
In this case, they have to find out which type of those provided for in Federal Law No. (8) Of 1984 is more suitable for their would be established company. Article (5) of the said law provided for seven different types in the following succession:
It is worth mentioning that any company having any type other than those specified in the said article of Federal Law No. (8) Of 1984 would be viewed as null and void, a case in which the signatories to an agreement on such nullified type of company would be jointly and severally liable for any obligation emanating thereby.
Hence, this booklet came to consist of the general terms and conditions required to be fulfilled by any company incorporated in the United Arab Emirates - Emirate of Abu Dhabi; as well as of the characteristics and provisions relating to each type alone. Thus, it may be helpful for any businessman in terms of judging which type would be more appropriate for his company or which one is more eligible to realize his anticipated objectives. |