New UAE Commercial Companies Law: 100% Foreign Ownership in LLC Mainland Companies
New UAE Commercial Companies Law: Which companies can claim 100% foreign ownership? On 1st June 2021, amendments to Federal Law No. (2) of 2015 on Commercial Companies came into effect to allow 100% foreign ownership in LLC mainland companies in the UAE. Until recently, foreign investors could own a maximum of 49% of shares in such companies leaving 51% shareholding for an UAE national. Or, if speaking of a branch of a foreign company, it was prerequisite to have a local service agent to be named in the license. The amendments were initially introduced by Federal Law by
REGULATIONS FOR BOUNCE CHEQUES UNDER UAE LAW (2020)
BOUNCED CHEQUES LAW IN UAE | CHEQUES REGULATIONS IN UAE | BOUNCED CHEQUE CASE IN DUBAI UAE A common predicament faced in the business realm is the risk of possessing dishonored cheques. For this reason, in order to protect and provide remedy against this act, UAE Federal Penal Code imposed criminal sanctions on those persons drawing bounced cheques. On Article 401 of Federal Law No. 3 of 1987 imposes penalty by way of fine or imprisonment – for an amount of not less that AED 1,000 and not more than AED 300,000 imprisonment of not less than one
RESTRUCTURING PROCESS IN UAE
CORPORATE RESTRUCTURING PROCESS IN UAE | LEGAL GUIDE Corporate restructuring in the event of bankruptcy or liquidation is a legal means resorted to by companies to significantly modify the operational aspects of the company. This could include financial, technical or organizational changes aimed to correct any operational issues that could led to company’s distressed. Restructuring process is complex process and solutions must be thoroughly tailored enlisting appropriate guidelines to ensure that specific needs and objectives of the company are addressed fully. UAE Federal Law governing bankruptcy, restructuring and insolvency are embodied primarily under the following legal framework and
Legal Support for Your Business
Knowing The Legal Requirements When Starting a Business in Dubai UAE. When it comes to setting up a business or owning one, seeking legal support is essential. Running a business has its reasonable share of strains and endeavors. On occasion, the law is impending. Getting a legal assistance at these times are critical to a business’ success. It allows you to explicitly seek legal advice, and letting you operate your business effectively. This ensures that your business is compliant with the relevant laws and legal obligations that apply to overseeing it legitimately and ethically. If you have decided
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Legal Support for Your Business
16 May 2022 -
RESTRUCTURING PROCESS IN UAE
16 May 2022 -
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