=======(( United Arab Emirates ))========

Business in UAE

The UAE is an open environment for doing business. Looking to diversify its economy away from oil exportation, the UAE is especially interested in seeing the development of industries which would reduce its dependence on important goods as well as developing product lines for export.

Businesses are regulated by the Federal Commercial Companies Low No.8 which was enacted in 1984 and has been fully enforce since 1993. Under this law, there are seven types of businesses that can be established:

Private shareholding companies
Public shareholding companies
Limited liability companies
General partnerships
Limited partnerships
Partnerships limited by shares
Shareholding or join venture companies.

The low also stipulates minimum UAE national equity of 51% in nationally incorporated companies and 100% for public or private shareholding companies.

Foreign companies or individuals wanting to do business in the UAE must at least have a sponsor or service agent and obtain a trade license. Foreign companies must register with the local Chamber of Commerce and Industry, the Economic Development Department and with the Ministry and Finance.

United Arab Emirates