Establish a Partnership in Dubai
Establish a Partnership in DubaiUpdated on Friday 10th February 2017
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Most investors in the UAE look for a local partner in order to establish an LLC (limited liability company). The conjunction provides several advantages such as efficient development and shared liability. Our law firm in Dubai can offer you the legal counseling and support that you need in order to establish a partnership in Dubai.
How to establish a partnership in Dubai
In the UAE the establishment of a partnership is regulated by several conditions such as a minimum of 51% ownership by the local partner. However, the Dubai free zones offer 100% ownership to foreign investors and other commercial advantages.
One of the first steps that an investor must do before entering a partnership is to elaborate a clear and focused plan of the collaboration. It is also important to make sure that you can and will be able to keep a constructive and open communication in the future and to remain adaptable to potential changes of direction.
A local partner in the UAE is a good match in terms of location, and he/she may offer as well good local connections and access to the regional market. You can then negotiate the distribution of profits, in which you might need the assistance of a law firm in Dubai.
With a local partner, you can start the registration procedure at the the Ministry of Commerce. You will need to be able to prove to the UAE authorities that you have enough investment capital.
Advantages of establishing a partnership in Dubai
A local company is the most recommendable partner for a new legal structure in the UAE. If you intend to invest in Dubai, you might consider the several advantages that you could have when establishing a partnership.
Apart from Dubai, where you can have 100% ownership, finding a suitable local partner gives you the opportunity to invest as well in other regions of the UAE. Your partner will come with a good knowledge of the region and he/she might attract much easier support from the local government.
Especially if you invest in the UAE for the first time, sharing the liability with someone is another strong advantage of a partnership.
Feel free to contact our law firm in Dubai for further help in establishing a suitable structure for your company as well as for the elaboration of the required documents.