UAE Laws and Islamic Finance

Laws of the UAE and Islamic Finance

Archive for January 31, 2010

I Want to Open a Branch of a Company in Abu Dhabi, which Already Exists in the UAE

 

Article 9  ‘Licensing of Company Branches’ (Companies already existing in the UAE) of Law No. (5) of Concerning Issuance of Licenses in Abu Dhabi states:

A company branch application form duly signed by the concerned persons or their authorized person legally empowered to represent the company must be submitted along with the following documents:

  • The decision taken by the involved company board of directors showing the company intention to open a branch in Abu Dhabi City.  The said decision must be duly signed by the concerned persons or their legally empowered representative;
  • The company branch trade name as approved by Abu Dhabi Chamber of Commerce and Industry;
  • Company memorandum and articles of association, along with the receipt certifying that the memorandum has been duly promulgated through the Ministry of Economy office at which the applicant company has been initially registered;
  • A copy of each of the following supporting documents: (trade license and certificate and the certificate of registration in the Commercial Register);
  • A copy of a valid lease contract involving the office/shop intended to be the place of business activity;
  • A copy of the authorized signature of the person legally empowered to represent the company;
  • A copy of a valid membership certificate issued by the Abu Dhabi Chamber of Commerce and Industry in favor of the company branch.  This is with consideration to the fact that the trade name has been already adopted by the mother company as approved by the Chamber;
  • Licensing fees shall be charged in accordance with those fixed in the relevant schedule as annexed to the Law.

Automatic abolition of a company branch license:  In implementation of the provision of Article (45) of the UAE Civil Code according to which ‘the branch shall be dropped if the principal is dropped’, a company branch license shall be automatically invalidated in case of the mother company is abolished.

UAE Laws and Islamic Finance

Laws of the UAE and Islamic Finance