IT IS NECESSARY TO HAVE A UAE CITIZEN AS PARTNER OR AGENT
In order to open a company in the UAE, you have to find a local partner – a citizen of the United Arab Emirates, who will nominally be a co-owner of the business. Usually such partner is simply referred to as “local”.
Your relations with the “local” will be regulated by a Memorandum of Association that has to be signed and attested in the Court. Usually locals do not interfere into your business affairs. Their responsibility is to represent your company in sych governmental bodies as Ministry of Labour and General Directorate of Residency and Foreighers Affairs (simply knows as “Immigration”).
However, if you do not want your local to take even that responsibility, you may require a Power of Attorney from him, that will enable you to carry out all the relations with these Authorities.
Needless to say, you should be careful when choosing a local. For example, if he is sponsoring many companies, and some problems arise in one of them, all of the companies under his sponsorship may be blosked, causing delays and troubles in your business.
October of 2022 has become a successful month for Offshore Company Corporation (OCC) as we have partnered with SAP - world’s leading business management software producer - to streamline operations and improve our services.
In order to thank you for the long ride we've had over the past time, One IBC would like to bring you an exclusive OCTOBER SALE - Seasonal packages for those who wish to open an offshore company in Seychelles.
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