Investors are flooding the United Arab Emirates (UAE). Because of this, more and more businesses are being formed each year. It is a good thing when businessmen, regardless if they plan to form a company now or in the future, know what documents they would need to prepare.
For investors in the UAE who are at a lost on how to prepare the document and others, there are a lot of MOA drafting services in Dubai and anywhere in the UAE. They can be utilized to help your situation with regard to legal drafting Dubai.
There are a number of documents that authorities and government departments often ask for when businessmen register for a business set up. One of those documents that are usually required is Memorandum of Association (MOA). This is basically required when a limited liability company (LLC) is to be set up.
What is a Memorandum of Association?
This legal document defines the company’s relationship with its shareholders. It is during the formation and registration process of a company that they make this document. It is possible the MOA can be accessed by the public. The address of the office, shareholders’ names, company’s name, and share distribution are all shown on the MOA.
Along with the details mentioned above, the MOA also has the essential details with regard to the company operating to the extent of some conditions. The people can be aware of the company’s activities and limitations with regard to its operations.
What Does Memorandum of Association Contain?
There are certain clauses that are mentioned in the Memorandum of Association as mentioned above. You should know what appears on your MOA before having a legal drafting Dubai. Further information aside from the above-mentioned details is listed below:
- Name of the company (along with this is the objectives of the organization and its office address as well) — in this clause, the name should be the legal name of the company that does not bear any similarities with other names of any organizations. The physical office’s address is the registered one for the company. The objectives will also serve the company’s summary of why the business was formed.
- Names of the partners (the nationalities are also stated as well as their addresses)
- Share capital amount (the partners’ share and value of it are also shown) — this is the authorized capital of the company.
- Capital contribution method of the partners
- Names of the directors (the nationalities of these people are also sated)
- Profits or losses distribution method (along with this is the partners’ share as well with profits and losses)
- Commencement date and contract period
- Sending notices to partners procedure
There is a list of MOA drafting services in Dubai and in every part of the UAE for business owners who are planning to set up their organizations in the country. There is also more information that can be obtained with regard to MOA, and it can all be found in HHS Lawyers and Legal Consultants.