The legal forms of companies Identified in accordance with the provisions of the Federal Commercial Companies Law No. (12) for the year 2015

Where dealt with paragraph (1) of Article (7) of the Act, the company is defined as: contract required whereby two or more people that all of them take part in an economic project designed to make a profit, and by providing a share of the money or work, and sharing arising from this the project of the profit or loss

Paragraph (2) of Article (7):

Economic project includes the provision of item (1) of this Article, all commercial activity or financial or industrial, agricultural, real estate, professional or other aspects of economic activity. The law also authorized in accordance with paragraph (3) of Article (7) set up a company to be owned by one person and in accordance with the provisions of this law. As for forms of companies have identified Article (8) of the Act as shown as the following:

Owned by two or more partners jointly liable in all their money in the company’s obligations

Consisting of two or more partners to share profits and losses and the company be limited to the relationship between the partners does not apply the right of others

The number of partners does not exceed the (50) partner and not less than two and not ask only to the extent of their shares in capital

Be a capital divided into shares of equal value negotiable nor partner asks only to the extent its contribution to the capital, and not capital less than 10 million dirhams and raised the stock to go public with the consent of the founders

The founding of a number of at least three people and fully subscribed by those founding capital and be responsible to the extent of their shares in capital

For more information, please refer to the Ministry of Economy site or contact the Department of companies in this regard