Articles of Association in UAE
Jurisdiction: United Arab Emirates (Mainland) Discretion: On Highest International Level Services: Individual Advise | Articles Drafting
Packaging & Delivery
Packaging Detail: This is a Discrete Law Consulting Service with no packaging
Delivery Detail: On Request
ARTICLES OF ASSOCIATION UAE
Consulting & Advise
in UAE | Dubai | Abu Dhabi The Challenge to setup a UAE Domestic LLC When investing or operating in the Middle East countries like UAE, Saudi Arabia, Qatar, Bahrain and Kuwait, the laws require partnering with a National Citizen called "Local Sponsor". This takes place on shareholder level. Furthermore it is regulated that this "Sponsor" shall hold at least 51% of the share capital. But in most of the cases the "Local" doesn't invest but rather gives only his "good name" and does not usually share in the company operations risk or debt. This law status requires various internal agreements like flat annual sponsorship fee instead of profit share, limitation of voting and acting rights and much more. It is the usual practice of local lawyers and consultants, to fix these individual agreements in "Side Agreements". We know this instrument very well as a result of our law practice in the "Western World": These "Side Agreements" remain confidential and are not part of the "legal" operating contracts which must be notarized. "Local Sponsors" in some cases doesn't really care about the validity or regulations in these agreements. These "Side Agreements" bring into question general validity issues and potential problems as they are not recognized by the local courts, e.g. in case of disputes among the shareholders of a company. All agreements regarding physical or virtual assets and rights must be notarized. So the potential for legal and ownership issues is abound. Solution - MCI CLT Articles of Association Based on the existing Company Laws in the Middle East, especially UAE (with Dubai and Abu Dhabi), MCI CLT developed a detailed Contract System which makes the full legal fixation of all individual agreements possible!
* Flat Fee Agreements regarding Profit Distribution (the so called Annual Sponsoring Fee) are being completed to the satisfaction of our clients and legally notarized in Business Setups & Registrations handled by MCI CLT
* The issues of Stock Ownership and Company Shares through the "Local" is limited/blocked all together, the agreements are being legally notarized
* Majority Voting Rights of the "Local" can not be exercised and the agreements are being legally notarized
* Acting and Authorization Rights of the "Local" can not be executed by him and are being legally notarized
* Legal Representation of the company is limited to the Foreign Shareholders and/or the General Manager and are being legally notarized
Your investments and financial transfers are now fully protected! Later realized profits are being distributed according to the legally binding agreements that MCI CLT develops for you - and not according to the official share quotes. Well, maybe Good Reasons to contact Mr. Martin Kraeter, Owner and CEO of MCI CLT (speaks English & German) Mrs. Julie Liu, VP Asia of MCI CLT (speaks English & Chinese)
Mr. Anand Mahadevan, VP Middle East and COO of MCI CLT (speaks English, Hindi, Tamil & Malawan)
to send a Request below.