There are several categories of licences available which can be broadly classified under following categories:
Commercial licences for trading activity;
Professional licences covering professions, services, craftsmen
and artisans;
Industrial licences for establishing industrial or manufacturing
activity.
These licences can be obtained from the Dubai Economic Department. Financial guarantees by a bank operating in Dubai may be required for some trade activities like jewellery and insurance. All commercial and industrial enterprises in Dubai must register with the Dubai Chamber of Commerce and Industry.
All UAE established companies must have fifty-one per cent participation by UAE nationals except in the following cases:
Within the Jebel Ali Free Zone;
Business activities which are 100% AGCC owned;
Where wholly owned AGCC companies enter into partnership
with UAE nationals;
Where foreign companies register a branches or representative
office in Dubai;
Certain business practices where the law stipulates 100% local
ownership;
In certain professional or artisan business practices where foreign
ownership is permitted. The law also defines the requirements in
terms of shareholders, directors, minimum capital levels and
incorporation procedures and stipulates provisions governing
conversion, merger and dissolution of companies.
The seven categories of company formation defined by the law are:
General partnership Company
Partnership-en-commendam
Joint venture Company
Public shareholding Company
Private shareholding Company
Limited liability Company
Share partnership Company
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