Role of a partner in starting a business
To start a new business in the UAE, it is necessary to have a sponsor. A company must have legal documents to show that 51% of the shares are owned by the sponsor. The local sponsor is a trusted partner and is only required to fulfill legal requirements. The sponsor has no right to manage the business, turnover or profits.
If you need a local sponsor and financial support in Dubai for your new business. Or you are not satisfied with your current sponsor, the Paragoal team can help you by introducing the right local sponsor in the UAE.
Familiarity with all types of companies
Private limited company
The law allows the creation of a sole proprietorship for the United Arab Emirates. Nationals of the Persian Gulf Cooperation Council.
Established by a citizen of the Persian Gulf Cooperation Council
Member countries of the Persian Gulf Cooperation Council (the United Arab Emirates, Saudi Arabia, the Sultanate of Oman, Qatar, Kuwait and Bahrain) signed the United Economic Agreement in Riyadh on June 7, 1981 with the aim of economic, financial, monetary and commercial coordination and integration. And industrial laws and the United Arab Emirates approved this agreement in 1982.
It is a company that consists of two or more partners who are jointly and severally responsible for all the company’s obligations. Partnership firms are limited to UAE nationals only as partners are liable for the debts of the firm with all their assets, which may not apply to foreigners as in most cases their assets are usually overseas.
Limited liability company
The Paragol team of PRO services has special expertise in all types of visa processing. With our cooperation, you can have peace of mind and peace of mind. With proper knowledge and experience of processes and procedures in UAE, Paragoal is equipped to facilitate smooth and fast visa processing. Our team are a process oriented company and our professional team keeps our clients updated at every step.
A professional enterprise refers to a contract whereby two or more persons serve others according to whether they are equal or unequal in the distribution of work, provided that the work is done simultaneously or simultaneously.
Joint venture company
A joint venture is a type of company in which two or more partners contractually agree to share the profits or losses of one or more business enterprises conducted in the name of one of the partners. The joint venture agreement may be written or oral and does not need to be notarized. Third parties can only refer partners with whom they do business. However, all partners are liable to third parties if the joint venture is disclosed to third parties. The existence of a joint venture may be proved by any method of proof.
Determine the branch
Article 313 of the companies Law allows a foreign company to carry out its main activity in the UAE by opening a branch or representative office. The difference between the two is that a foreign company that opens a branch in the UAE can freely carry out the activities for which it is licensed, while a representative office can only carry out promotional business for the products and services offered. to be done by the parent company.