JOINT VENTURE COMPANY FORMATION IN THE UAE
Dubai, the City of Gold, the capital of the Middle East, i pot of diversity. The ci predominantly expat popul over 100 nations world presence of both business-fr and liberal tax incentives huge number of entrepren year. Among the many busi are formed each year in the U one that is extremely pop venture company formation the preferred choice of seve investors. Opening a joi company in Dubai shares advantages that come with Liability Company in Dubai. Here is a complete breakd process of joint venture formation in Dubai, inc documents, its featu advantages.
Setting up a joint venture company in Dubai essentially means that one or more foreigninvestorscometogethertoconductaparticularbusinessactivityofchoice. This commercial agreement can take place between two or more participants with theaimofachievingselectbusinessgoals,generallytobreakintoanewmarket.
Joint ventures in Dubai have several distinctive features that make them different fromthetraditionalmeansofcompanyformation.
There is no limit to the number of entities that can come together in collaboration forthejointventure
Investorscancometoamutualagreementregardingprofitandlossdistribution
It is a preferable legal structure for companies that come together to work on specificprojects
How to set up a joint venture company in How to set up a joint venture company in Dubai? Dubai?
Because of its unique disposition, joint venture company formation in Dubai falls under the domain of the Department of Economic Development (DED) and the Dubai Municipality. They are responsible for reviewing and approving the business for the joint venture. Even though you do not need to apply for a separate trade license, there are certain steps you need to follow to register your joint venture company in Dubai.
Foremost, all parties involved must register a Joint Venture Partnership Agreement with the Dubai DED
They will also need to finalise the business activities they want to conduct as well as the trade name
Then, the DED issues a form that all parties involved must sign before a public notary
After the contract is drafted, you will need to get an initial approval from the DED
After the approval, you will need to submit any additional documents the DED may require
The final step is to pay the license fees
