To establish a company in Dubai Economic Department, all expatriate investors required a UAE national as partner in the company.
To establish a company in Dubai Economic Department, all expatriate investors required a UAE national as partner in the company. As per UAE law, a local partner shares in the company should be 51 % in Memorandum of Association. But they can be agreed for annual sponsorship fee or some percentage in annual profit. UAE partner is required in the first step in the formation of license. For the Initial approval application we required his signatures and after initial approval we required him in the court for Notarizing the MOA. MOA is the legal document for company, in which all the terms and conditions , profit and loss and company financial legalities will be notarized. In this stage you can mention the profit share of local partner also. After the formation of company license, local partner signatures required in all Govt Departments. The Establishment card of the company will be issued on local partner name or if he will give the power to Expat partner then Expat partner can be added in the Establishment card after his partner visa will be issued. For the Expat partner investor visa, we also required application signed by local partner. For the next step in the company formation is labor computer card of the company which will be applied in the labor department. This card will also be issued only on the local partner name. Each time we will apply for Employee visa we required visa application signed by local partner. Almost all the government department local partner presence is most important so we have to choose a reliable and reasonable local partner for the better growth of your company.