Note Please dont write from internet there are answer in che

Note: Please dont write from internet there are answer in chegg but that is incorrect this is my 10 time i published this question.

Required 1200 TO 1500 WORDS.

Subject: Legal Aspect of Business

If you are UAE national and want to establish a company with your friends in UAE, which type of company you will choose? and why?

Private Joint Company

considering the following:

• 1- your nationalities.

• 2- the capital (share).

• 3- the activity.

• 4- the liability.

• 5- how many?

Solution

If Ihave to start up a company in the UAE i will choose to start a local company with the involvement of a local sponsor who will help me in the legal formalities required for the starting up of a new business in UAE. This local sponsor will help me to registor the business under a limited liability company or LLC. He will hold 51% of the shares on paper but will play the role of an inactive partner. As his contribution is required only for the legal aspect of the business and not in the activities of the business, the sponsor will be paid an annual fee for this role which will be negotiated and fixed upon an amount. He will only be looked upen for help if any legal complication arise later on. Then a location will be seen for the business set-up. The location can be anywhere as the registration as a local company helps to have full liberty for this aspect. The location will have to be selected such that it is easy for the customers to reach. As location is not a restriction if the company is registered under a local sponsor so it has to be taken into consideration when selecting the location that it gives optimal advantagesof creating a good market locally. After this step the important step is getting the visas issued for self and the employees. This step will also require the help of the local sponsor. We will go through the legal formalities showing consent of issuing visa for me as an investor starting a business in UAE. There will be certain forms to be filled giving details about the sponsor and he further authorises me. I will have the power to issue visas for the other employees of the company. There are other formalities that have to be done in setting up the local company. Once my visa is issued through the sponsor and he further authorises me, I will have the power to issue visas for the other employees of my company. There are other formalities that have to be done in setting up a business for which assistance can be taken from a local agent. He will guide throughout the procedure of registration and setting up. Opening a bank account, licensing different activitiesof business, auditing accounts, getting permissionsfor exports and imports etc. There are a lot of aspects on which being an expatriate processes can be complicated. hence hiring a local agent or an advisory company to assist in all such formalities required to be done from registration to bringing business into actionis an important step. With all these steps it will be easy and smooth to start up a new business in the UAE.