Requirements for Setting Up Business in Dubai
- June 1, 2021
- Comments Off on Requirements for Setting Up Business in Dubai
Whenever you are going to start a business in the UAE you need to know the conditions to apply for it. The labour lawyers in Dubai can help you with that. They can be significant support for you in this regard.
They have credible expertise and vast knowledge about all the happenings in the rule of the law. Moreover, they are updated about the rule of the law as well. This makes them help you in the best possible way to keep you from any further troubles.
Conditions for a Business Startup
Below are a few points you need to know before you take any legal steps. Moreover, you need to know them so you can stay out of trouble. Moreover, it is suggested to take legal assistance before any bad thing happens.
- Majority Shareholder
Non-UAE citizens may not engage in business activities within the UAE unless such a person has one or more UAE national/s as partners. This was according to the conditions and within the limits stipulated by the UAE Commercial Companies Law No. 2 of 2015. In this regard, the provisions of the Commercial Companies Law were amended in November 2020.
One of the most significant changes being that onshore companies will no longer be required to have a UAE national as a majority shareholder.
- Prohibited People
As per labour lawyers in Dubai, any trader who was declared insolvent during the first year of his practicing a trade unless he has been rehabilitated. Any person who has been convicted of bankruptcy crimes of fraud, commercial fraud, theft, and fraud. Moreover, breach of trust or forgery unless he has been rehabilitated.
Such people have major trust issues with the state and therefore, are not allowed to start a business.
Therefore, if you want to know more about these points, you need to contact labour lawyers in Dubai. They are available all over the UAE for your legal support and help. Moreover, they provide their services in Ajman, Sharjah, Fujairah, and Abu Dhabi as well whenever or wherever you need them.
They are very critical about the privacy concerns of their clients and don’t breach them at any cost. Moreover, they know how to deal their clients with utmost respect and honor. In addition to that, they make sure that their clients don’t indulge themselves in any further trouble and sort out their legal problems.