Gulf Law for Arab Middleeast Company Law
    
About Us
home
about us
UAE
Iraq
Saudi
Qatar
Jordan
Aeas of Expertise Countries
Links
 

email

 

 
 

United Arab Emirates

 

UAE Company Law Update

To accommodate the rapid expansion of the several Free Zones established in the UAE and, for practical purposes, provide exemption to companies or joint ventures established in specific areas, the provisions of Article (2) of Federal Law Company Law No. (8) of 1984 which provides for the scope of application of the law were replaced by the new provisions in Federal Law No. (15) OF 1998.

The new amended Article (2) of this law retains the concept provided in the previous Article (2) providing that the provisions of the Company Law shall apply to commercial companies incorporated in the State or that establish their main centre of activity therein, and to all companies which establish their domicile therein.

However, the amended Article (2) excludes companies incorporated in Free Zones in the UAE from itís provisions. Regulations provided by the concerned free zones shall apply to these companies except when they are considered as UAE companies.

Except when companies are considered to be UAE companies, the new Article (2) provides a further exemption stating that the provisions of the Company Law shall not apply to oil companies operating in the different fields of oil and gas industry, as well as companies operating in various aspects of electricity, gas, water purification. The Council of Ministers is also authorised in accordance with the new provisions to issue decisions to provide companies with such exemption from the provisions of the Company Law or to provide for this exemption in special provisions in companies Memoranda and Articles of Association.

For further information and assistance in a specific matter, contact SMAM.

 

 

TOP

 

Comapny Law in the UAE update - new fedral law. United Arab Emirates UAE: foreign companies / corporates doing business in free zone.

 

LEGAL DISCLAIMER - The information provided by gulf-law.com is not legal advice nor conveyed in the course of an attorney-client relationship, but is intended merely as general information related to legal issues. The links to other sites are for convenience only, and do not imply sponsorship, endorsement, or approval by gulf-law.com, which has no control over and is not responsible for the content found on such sites. Your access to and use of gulf-law.com is subject to additional terms and conditions.

 

 
  

Copyright © 2014 Sabah M A Mahmoud, 30 Kingston House South, Ennismore Gardens, London SW7 1NF, UK
Telephone London Office: (+44) 020 7581 667
7 Email sm@gulf-law.com
Telephone Amman Office: P.O. Box 928526 Amman 11190 Mob. +962 79 672 5088
All rights reserved.

No part of this publication may be reproduced or stored or
transmitted without prior permission in writing of the author.