STRUCTURING AND SETTING-UP BUSINESS IN UAE-FREE ZONE AND OFFSHORE
Remote “commercial or economic” activity (i.e. without a physical presence in UAE) to solicit business is not without risk, as it is a mandatory UAE (Legal) requirement that any economic activity conducted in the UAE must be properly licensed. Both the federal government and individual emirates regulate licensing procedures on which we can advise further, if required.
Article 6 of the Commercial Company Law no. (8) of 1984 as amended by Law No. (13) of 1988 and Law No. (15) of 1988 (“CCL”) states that in the event a Company is not registered in any of the forms referred to in Article 5 of CCL, such Company shall be null and void, and the individuals who enter into a contract in its name shall be personally and jointly answerable for the liabilities arising from such contract.
There are many opportunities for doing business in the U.A.E. An entity/individual could form his company in the (1) United Arab Emirates or (2) the Free Zones (within the U.A.E.) or abroad (Offshore).
This area of practice includes planning, drafting and assisting in the following business set-up
• Limited Liability Company • Professional License • Representative Office • Branch Office • Commercial Agency • Free Zone Establishment (FZE) or Free Zone Company (FZCO) • Offshore Company
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