Q: Does a partnership agreement between parties need to be notarized in the UAE?

Q: Hi there, I am looking to start a Free Zone LLC with a total of 4 owners. However, only 1 of the owners will be putting up the share capital. Would like to know how this would be considered in legal terms in the operating agreement for the FZLLC.

Q: I am opening a small restaurant in Abu Dhabi in partnership. Need a lawyer to draft a partnership contract who has done it for a restaurant partnership before.

The UAE government has announced important changes to the federal Commercial Companies Law, the most significant is related to the foreign ownership of mainland companies. This will grant foreign investors the full ownership of share capital in companies carrying out certain activities specified to that effect by the competent authorities. This means that foreign investors’ shares will not be limited anymore to a maximum of 49% like before, but can be up to 100% instead.

Most entrepreneurs who have ideas for a startup seeking to implement it may face some difficulties in deciding the ideal location, activity, type of license, fees, taxes, among many others. Here are four reasons why the UAE’s thriving start-up scene is the right choice for your business.

Over the years the UAE has become a centre of trade and commerce for the Middle East, thanks to its strategic location, excellent connectivity and extensive services to assist with all aspects of business. According to the World Bank's 2016 report, the UAE has ranked 31st in the global index of ease of doing business. This encourages more entrepreneurs to set up different kinds of business entities in the country.

The provisions of this Law apply to the commercial companies established in the UAE and the foreign companies that have established in the UAE a base to conduct any activity therein or established a branch or representative office. The Law abrogates Federal Law No. (8) of 1984 Concerning Commercial Companies.