U.A.E. legal developments
Article Abstract:
The United Arab Emirates has taken steps to liberalize the law on foreign firms wishing to do business there by amending its Commercial Companies Law. Requirements for legal documents from the company's home country certifying details on corporate officers have been suspended. Companies that have been in business for less than two years may now supply evidence of solvency to bypass a requirement for two years financial statements. Regulations enacted in the municipality of Dubai covering trade licences and the charter of the Dubai Equipment Authority are also covered.
Publication Name: Middle East Executive Reports
Subject: Economics
ISSN: 0271-0498
Year: 1992
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Companies Law implementation
Article Abstract:
The United Arab Emirates (UAE) Ministry of Economy and Commerce has interpreted Article 314 of the country's Commercial Companies Law to mean that foreign companies with branch offices in the UAE must be entered in the Foreign Companies Register kept by the Ministry. In addition, the Ministry has decided that foreign companies must turn in local balance sheets and profit and loss statements with regard to their branch offices. Incorporation of limited liability companies will be handled locally except in Abu Dhabi, where the Ministry will participate.
Publication Name: Middle East Executive Reports
Subject: Economics
ISSN: 0271-0498
Year: 1993
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Companies Law compliance deadline postponed for year; other legal developments
Article Abstract:
The date by which firms in the United Arab Emirates must comply with the Commercial Companies Law has been extended to Jan 8, 1993. This gives firms an additional year in which to comply with the law and helps many firms avoid administrative sanctions. Ajman and Umm al-Qawain have enacted local regulations regarding the licensing of skilled tradesmen and non-national professionals. A new federal law regulates the activities of the notaries public.
Publication Name: Middle East Executive Reports
Subject: Economics
ISSN: 0271-0498
Year: 1992
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