(MENAFN- Khaleej Times)
Starting a business is an exciting and a rewarding journey for an entrepreneur. However, staying on the right side of the law is key to ensuring smooth and uninterrupted operations. There are many legal and practical considerations that you will need to consider as you get your startup off the ground. The UAE based business setup consultancy, Creative Zone teamed up with one of Emirate's leading legal firm, Kayrouz and Associates to assist local and foreign entrepreneurs in organising all critical documents required to set up a business in the UAE.
Below are the ten key documents you will need to start a company in the UAE. Board resolution approving the sale and transfer of shares: It is a formal record of the decision made by a company's board of directors to approve the sale and transfer of shares in the company. Consultancy agreement: A legal document that outlines the terms and conditions of engagement between a company or organisation (the client) and a consultant for the provision of services. Letter of intent: A Letter of intent (LOI) is a legal document that expresses the intent of the parties to enter a formal agreement. Mutual non-disclosure agreement (MNDA): A mutual non-disclosure agreement (MNDA) is a legal document that is used to protect confidential information shared between two or more parties. Non-disclosure agreement (NDA): NDA is a legal document that is used to protect confidential information shared between two or more parties. This document is signed by one party (the recipient of the information). Referral agreement: A legal document that outlines the terms and conditions of a referral arrangement between two parties. Share purchase agreement (SPA): SPA is a legal document that outlines the terms and conditions of the sale and purchase of shares in a company. Memorandum of understanding (MOU): An MOU is an agreement between two or more parties outlined in a formal document. Addendum to agreement: An addendum to agreement is a legal document that is used to modify, clarify or add to an existing agreement between the parties. Legal notice: A Legal notice is a formal document that serves as a legal communication or warning to a specific person or group of people.
With these legal documents in place, startups can have peace of mind that their business is legally compliant and protected. However, keep in mind that these legal documents may vary depending on the business's specific nature and the UAE's laws.
Creative Zone's team of experienced business consultants, along with the legal experts from Kayrouz and Associates, guide startups in ensuring your business is off to a safe start.
To download the complete set of documents, please click here .
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