United Arab Emirates Companies Law 2009 – Company Law
The United Arab Emirates Companies Law 2009 is the primary legislation that regulates registration and operation of companies in the UAE. You will find below the key extracts from the United Arab Emirates Companies Law 2009 act along with the full act.
A Company will exist under a name approved by the Registrar which shall be immediately followed by the words “Limited Liability Company” or their abbreviation “LLC”, which shall be inserted wherever the Company’s name appears.
Company shall at all times have a registered office in the DIFC to which all communications and notices may be addressed.
A Company must carry on its principal business activity in the DIFC, unless the Registrar otherwise permits.
A document may be served on a Company by leaving it at, or sending it by post to, the registered office of the Company.
A Company’s articles shall be in the English language and shall be printed and be divided into paragraphs numbered consecutively.
A Company’s articles shall contain:
- The information set out under Paragraphs (a) through (e) of Article 11(2);
- Matters contemplated by this Law for inclusion in the articles of a Company; and
- Such other matters as the Shareholders wish to include in the articles,
Provided that the articles must not contain a provision which is contrary to or inconsistent with this Law.
Subject to any limitations in the articles, the business and affairs of a Company shall be managed by not less than two Directors.
No person shall be a Director who:
- Is under the age of 18 years;
- Is disqualified from being a Director by virtue of:
- Having been convicted of a criminal offence, involving dishonesty or moral turpitude, in any jurisdiction in the past 10 years
- Having been found guilty of insider trading or the equivalent in any jurisdiction at any time
- Having been judged disqualified by the Court
- Disqualification under the articles
- Is an undischarged bankrupt or is not a natural person.
The incorporators of a Company are deemed to have agreed to become Shareholders of the Company, and on its registration shall be entered as such in its register of Shareholders.
Every other person who agrees to become a Shareholder in a Company, has acquired a Share in the Company and whose name is entered in its register of Shareholders, is a Shareholder of the Company.
Entities not regulated by the DFSA shall have share capital authorised by the Company and share capital paid upon incorporation in the amount at least equal to US$50,000.