United Arab Emirates
The legal system of the United Arab Emirates is based on their Constitution. This system is dual in nature as it has local and federal courts with a Supreme Court Based at Abu Dhabi.
The UAE does not depend that much on precedents, although sometimes the judgements of higher courts can be applied by lower courts in similar cases.
Where legislative provisions do not cover a specific issue, the court will make a decision in accordance with Sharia law. Islamic jurisprudence is widely used in the construction and interpretation of the UAE law.
Formation of Limited Liability Company in United Arab Emirates:
Package includes the following set of corporate documents:
– Nominee Directors:
The appointment of nominee directors has to do with people who will be managing the company, considering any kind of business.
– Nominee Shareholders:
Nominee Shareholders will be holding the Company’s shared documents for the avail of the clients.
-General Power of Attorney:
It is issued by the administrator for the benefit of the clients and it is valid for 12 months.
A General Power of Attorney grants the client with broad powers, represents and acts for the Company before third parties, institutions and authorities.
-Special Power of Attorney:
It is emerged by the director for the benefit of the clients, which is valid for 12 months.
A Special Power of Attorney, also known as Limited Power of Attorney, grants the client with particular authority to represent and act the Company for particular matter. For instance, it is useful for the opening of a bank account.