It’s well known that Dubai is an important business center, most of its company owners being foreigners. Due to its extravagant wealth and flourishing economy, company management in Dubai claims some important principles, focusing on the internal relationships within the company.
Foreign investors must know that requesting the help and services of a specialized law firm with experience when they manage a company in Dubaiis vital.
Our Dubai attorneys can come up with legal assistance in every step of company development, from setting up the business to managing taxation matters or, most important, establishing successful relationships between company management, employees and business partners.
Company management rules in Dubai
Several laws in Dubai regulate company management in Dubai, such as the Corporate Governance Rules and Company Act. Shareholders have the duty to appoint one or more directors who will manage the company. Consequently, since the limited liability company is one of the most common types of structures in Dubai, foreign entrepreneurs should know that they are responsible for appointing the manager(s) and the board of directors (that will form the management of the company). After that, during a general assembly of shareholders, company managers will be chosen.
According to Commercial Law, a supervisory board must be established in the case of limited liability companies having more than 7 shareholders. Directors and managers of Dubai companies have certain rights and responsibilities towards the company, the shareholders, employees and third parties they do business with.
On the other hand, a company’s management will be held liable for actions such as fraud, abuse of power and infringement of the provisions of the company’s statutory documents.
Our lawyers in Dubai will offer complete information on laws and regulations that must be kept in mind in regard with company management in Dubai.
Company management style in Dubai
For obtaining the best business results, managing a company in Dubai means permanent and feasible communication between the managers, but also mutual respect in their relationship with shareholders and employees and real interest in doing their job efficiently.
Based on directional leadership, employees expect to receive clear instructions from their managers. So the latter have to offer proper approach towards managerial problems and also provide comprehensive tasks. Company managers in Dubai also have to run the business in the interest of the owners, but must pay attention at their interests being the same with the shareholders’.
The true value of management stays in a good mission statement which creates goals for management, employees, shareholders and even business partners.
Our law firm in Dubai can help you in various legal aspects of business situations or agreements and also offer assistance in business meetings. Please contact us in order to offer more information on the matter.