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What is Memorandum of Association and its contents?

As the investors have to start to invest in Dubai to a great extent, more and more businesses are being formed in Dubai. This has increased the demand for Outsource Legal Drafting services. The outsourcing firms help the people with the legal contract drafting or Documents which brings the newly formed companies into their right plane.

For a business set up in Dubai, there are a lot of documents that are required by the businessmen. One of the important documents in all the documents is Memorandum of Association. This has a lot of important things about the business and it is very important for a company to form MOA.

Memorandum of Association

MOA  which is also known as Memorandum of Association is basically a document that plays a role in the regulation of external activities of a company. Memorandum of Association is formed right on the formation of the company. Memorandum of Association is a public document and can be formed after consulting with the firms who provide the services of drafting legal documents.

Purpose of Memorandum of Association

The basic purpose of MOA of any company is to make the readers aware of all the objects that are present in the company. Also, the readers should be aware of what is permitted under the law and what is not. Note that the readers of the company include all the shareholders and investors of the company.

The shareholders of the company modify the clauses of Memorandum of Association. Following the right procedures for MOA are really important. Companies consult different public offices for the filing of the documents.

Importance of Memorandum of Association

  • Memorandum of Association is of prime importance for the company because it plays a role in the regulation of the relationship of the company with different other parties from the outside.
  • MOA has all the rules in it that are to be followed by the company in the future
  • MOA is important for all those companies that want to get registered as private or LLCs.

Also, read how to Defending against abuse of Power of Attorney

What should be included in MOA?

There are a number of clauses that are mentioned in the MOA. Before having legal drafting Dubai, you need to know what should appear in MOA. Here are the details that should be present in Drafting Memorandum of Association of your company

  • Name of the company
  • Location of the company’s office (state name)
  • Objectives of the organization
  • Liability of the shareholders
  • The share capital of the company
  • Division of the company’s capital into shares. If the company is a limited liability company, this part can be omitted.
  • First subscribers of the company
  • Procedures of sending the document to the procedures

After fulfilling all the requirements of MOA, the documents are to be published. And provided to the creditors, shareholders and all the other parties. That is involved for the purpose of informing everyone about the line company has adopted.

There is a huge list of Memorandum of Association drafting services in Dubai and they are very necessary for the business owners that are to set up their businesses in Dubai. Business owners need to be very particular about this kind of business activities because they are very crucial for the formation of a business. For legal drafting, a lot of firms have started to provide their best of bests services.  All you need is to consult them and they will help you form you MOA in a very less period of time. One of the very well renowned legal consultant firm is HHS lawyers and legal consultants.

Changes in Memorandum of Association

If you want to amend anything in your MOA, you can do that too. the change may include the company’s name, the location of its state and more

Drafting Memorandum of Association

You can get a whole lot of legal document drafting service from the very renowned HHS Lawyers and Legal Consultants. HHS lawyers in Dubai being professionals in their field represent their clients in all the areas of the law. Also, they settle are issues like that of the real estate and other clashes. HHS Dubai Lawyers are here to provide all of their services in the best possible manner and regulate the issues in a better what than that of the other Law firms in Dubai, UAE.

One of the best thing about HHS Advocates in Dubai is that they put a full stop to all the language barriers. So, if you have no idea about how to speak and write in Arabic, there is nothing to worry about. HHS lawyers have neglected all the barriers while they provide the best services with the best results. Take their advice, solve your issue and form your MOA with the best legal providers.

Hazim Darwish

Hazim Darwish, is a Senior Partner of HHS Lawyers in UAE. Practicing law for almost a decade, he has in-depth knowledge on UAE legislation with particular expertise on legal drafting, contract drafting, labor disputes, family law, and regulatory compliance for business organizations. Hazim Darwish also provides counsel on legal rights and obligations in the UAE to clients, including individuals and businesses subject to investigation or prosecution under Criminal Law by major regulators.