United Arab Emirates updates position on limited liability companies

Overview

The UAE Ministry of Economy recently issued the ministerial resolution no. 694 of 2016 (the “Resolution”) which waives the requirement of amending the memorandum of association (“MOA”) of limited liability companies (LLCs), joint liability companies, and limited partnerships (collectively, the “Exempted Companies”) as per the provisions of the Federal Law No. 2 of 2015 concerning Commercial Companies (“New Companies Law”).

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Banking and Finance – legalweeklaw

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