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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.
 

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തിരുവനന്തപുരം UAE കോണ്‍സുലേറ്റില്‍ വിസ നടപടിക്രമങ്ങള്‍ക്കായി പോകുന്നവര്‍ക്ക് ആവശ്യമായ മെഡിക്കല്, അപ്പോയ്ന്‍റ്മെന്‍റ്, മെഡിക്കല്‍ സര്‍ട്ടിഫിക്കറ്റ് അറ്റസ്റ്റേഷന്, ക്രഡിറ്റ്കാര്‍ഡ് വഴി കോണ്‍സുലേറ്റില്‍ പണം അടക്കല്, താമസം, യാത്ര തുടങ്ങിയ സേവനങ്ങള്‍ക്ക് ബന്ധപ്പെടുക.  read more
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