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An expatriate planning to set up and onshore mainland business in UAE, they would require a UAE National Partner / UAE National Service agent. In case of an LLC company set up it is mandatory to work with an UAE National Partner also commonly called as an Emirati Partner who would eventually own 51% of the company’s share and the remaining 49% is vested on the expatriate partner. In this scenario the Local partner will have no involvement in the everyday business transactions of the company.
In the case of sole establishment / civil companies, the UAE National is just limited to be a Local Service Agent and the 100% ownership is completely vested on the expatriate
In protection to the 51% of the shares held by the UAE National a reliable protection side agreement is signed once the company is formed. The preamble of this agreement is the UAE National waives all his rights in the company and surrenders the shares and the profits of the company to the expatriate in exchange of a fixed annual remuneration fee. The aide agreement is never notarized as t contradicts the initial MOA (Memorandum of Association) signed. Instead the agreement is signed by 2 Muslim male witnesses which is then eligible to produce in the courts as per Sharia law – Local governing law. The requirements of the UAE national partner vary from case to case depending on the type of activity.
In case of professional license the annual remuneration decided is mentioned in the Local service agent agreement which is notarized. There is no special requirement of a side agreement as the ownership is limited to the expatriate himself.
We at CLEVER CORP value the rights of our clients and will be assisting the clients in all types of company formation and we are known to provide reliable and the trust worthy UAE National Partner / Local Agent for your business needs in Mainland.
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