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Company Incorporation in the UAE- Abu Dhabi
General Terms & Conditions
Any company incorporated in the Emirate of Abu Dhabi should hold the UAE nationality and have its domicile in it. Of course, this should not necessarily entail enjoying the same rights and privileges entitled to nationals or confined to them. 2 Any company incorporated in the Emirate of Abu Dhabi should have one or more national partner having a share or shares of not less than (51%). This is, of course not applicable in case of a General Partnership which should have its capital purely and entirely national. 3 All partners in any company incorporated in the Emirate of Abu Dhabi should sign a pertinent memorandum written in Arabic language and duly authenticated by the Notary Public at the Court of Law.
However, testimony to prove a matter in variance or in excess of the stipulations in the company memorandum should not be acceptable in case of any dispute arising between the partners.
4 Any company incorporated in the Emirate of Abu Dhabi should have its memorandum and any amendment thereto duly registered in the Commercial Register and the Companies Section at the Ministry of Economy & Commerce. Except for Joint Participation, companies should also obtain the Abu Dhabi Chamber of Commerce & Industry Membership Certificate and the Abu Dhabi Municipality License.
5 Partners may not agree in the company memorandum on depriving any of them from receiving profit nor on exempting any from suffering loss, otherwise the memorandum is to be considered null and void by the force of law.
6 Any company incorporated in the Emirate of Abu Dhabi should be duly licensed by Abu Dhabi Municipality Department. The license should be annually renewed.
7 The memorandum of any company incorporated in the Emirate of Abu Dhabi should contain the following particulars.
Each partner's name; surname; title; nationality- date of birth and domicile. The company's name; purpose; head office; capital; the share of each partner; lifetime; the commencement and end of fiscal year; the terms of profit / loss distribution; dispute-solving party; terms of notification; terms of share assignment and value estimation; terms of joining or leaving by a partner(s); terms of liquidation; partners liabilities and any other information or stipulations agreed among partners who show willingness to include them in the memorandum, providing that such stipulations should be in conformity with the enacted laws. |