Dubai City Guide  |   Business in Dubai  |   Jobs / Career  |   Travel & Tourisim  |   Education  |   Entertainment  
Earn Money Online    Jobs in UK    Free Download Songs    Bollywood Models    Latest Jobs    UK Tier 12345   Uk Immigration
BUSINESS IN DUBAI
Business Regulations

Setting Up Business

Legal Structures

Chamber Of Commerce

Doing Business

Business Laws

Trading In Dubai

Jebel Ali Free Zone

What Is Jebel Ali

Importers

Distributors

Business Opportunities

Dubai Internet City

Dubai Festival City

Dubai Real Estate

Burj Dubai

Mall Of The Emirates

Items For Sale

Used Cars For Sale

Car Dealers

Property For Sale

Tax Free Zones

Why Buy Property In Dubai?

Property Business

Credit Crunch Effects

Apartments For Sale

Dubai Business Visa Requirements

QUICK LINKS
Dubai Business Directory

UK Latest Rules

Pictures of Sania Mirza

UK Student Visa

Business in UAE

Love Calculator

Companies in Dubai

Love Saddle

Latest Jobs in UK

Latest Jobs in USA

Jobs in Saudia

Free Visa Guide

Study Abroad

HSMP Immigration

Canada Immigration

Visa Interview Ques

UK Student Visa

Free IELTS

Free TOEFL

Indian Girls

Paki Girls

List of Univs/Colleges

Hollywood Style Sex

Sexuality

Sex Tips

Best Career

Love Dating

Wedding

Girls Fashion

Bollywood Models

Home / Business In Dubai / Business Laws Of Dubai
New Asian Beauty: Indian Pakistani Girls, Models & Actresses  

Business Laws of Dubai

In the UAE, business activity is regulated by individual emirates as well as by the federal government. In practice, the detail of business registration is the responsibility of each emirate, while the laws that govern that activity come from the federal authorities.

  Viewed : 3921             Mail to a Friend         Rating :    Rate it  
Since 1993, there have been a number of legal reforms aimed at creating a framework able to accommodate the country's commercial aspirations. Most notable is the commercial code which came into effect at the end of 1993 and covers a wide range of banking and commercial activities.


There are also some significant new laws on copyright, patents and trademarks which came into force in 1993. They are:

Commercial transactions law (federal law number 18 of 1993) in UAE covers banking and commercial transactions on a scale unprecedented in prior legislation. It contains provisions on who may lawfully conduct business in the UAE; subject to certain exemptions for GCC nationals or companies operating in free zones. No one other than UAE nationals may do so unless in conjunction with UAE partners in line with the requirements of the commercial companies law which stipulates a minimum 51 percent local ownership.

The commercial code also introduces a new legal basis for mortgages over a wide range of assets, both tangible and intangible and contains detailed provisions concerning bankruptcy and receivership.

Banking transactions in UAE are fairly comprehensively covered including current accounts, bank loans and guarantees, the discounting of commercial paper, trust receipts, deposits of securities and detailed rules on cheques, bills of exchange and promissory notes. In addition, the commercial code permits lenders to receive interest on commercial loans subject to certain limitations, a clarification welcomed by banks.

Companies Law, Federal law number 8 of 1984, came into effect in its amended form in January 1989 and has been applicable to all companies formed since that date. In particular, the companies law requires all companies to be at least 51 percent owned by UAE nationals and to take one of the seven forms specified by the law.

Companies formed prior to 1989 did have the benefit of a number of grace periods to give them time to comply with the provisions of the law. The last grace period expired at the beginning of 1994 and has not been renewed. The companies law is now unequivocally applied to all local companies irrespective of when they were formed. A number of substantial amendments to the companies law were under consideration as the practical guide was being published, although it is not clear when they will be introduced, if at all. Foreign investors who are unsure of how the companies law now affects their interests should seek advice from their local legal advisors.

The professional companies law was due to come into effect at the end of 1994. Professional companies - companies where the knowledge of the partners is the main asset (for example, lawyers, engineers, accountants, hairdressers) - are not covered by the commercial companies law. The new law provides that UAE nationals must own at least 25 per cent of professional companies. The law will be applicable immediately to all new professional companies formed after it has come into effect. Professional companies already in existence will have a grace period of five years to adjust.

National Ownership is Required under the companies law, at least 51 percent ownership by UAE nationals is required for all UAE establishments, except where the law requires 100 per cent local ownership as in the case of, for example, commercial agencies. The companies law is not applicable to Free Zone Entities or branches established in the free zones generally. As mentioned, it is not applicable to professional companies, which, in due course, will need to be 25 percent owned by UAE nationals.

Tell Your Friend :


I visited this site to get the latest information of Business Laws of Dubai. The-DubaiCity is very popular to get the latest information of Business Laws of Dubai

Having a way to bottomless websites relating to Dubai City is wonderful. Building a site about Business Laws of Dubai takes quite a bit of effort. Once you finally understand this, you will be able to research more competently. It is vital that you dig up the top authorities. The most accurate Business Laws of Dubai intelligence may take a bit of effort to come upon. It is legitimate that securing accurate material on this matter can be time consuming. It is difficult attempting to consider the time we have invested looking up Business Laws of Dubai research.

We proud you to take some more time checking out Business Laws of Dubai web pages. It can at times become wearisome to sort the acceptable Business Laws of Dubai info from the dreadful.

If you have any information or material of Business Laws of Dubai you can send us to post on this website of Dubai.
  
Add to BookMark
Other Love Links

» Free Download Movies
» Free Download Songs
» New Asian Beauty
» Pakistani Young Girls
» Punjabi Mujras
» Love Calculator
» Love Ideas
» Find Your Love
» Love Dating
» Love Poems
» Love Quotes

 
  Information of Business Laws of Dubai
© 2006-2008 The-DubaiCity : Latest Information of Dubai City that includes Business in Dubai, Hotels in Dubai, Jobs in Dubai, Entrtainment in Dubai, Shopping Centers in Dubai, Clubs in Dubai. All the material on this site is copyrighted by its respective owner. If you see your copyright violated here, please Contact us | Sitemap Dubai City