A lot of investors have started seeing their ways in UAE because they see a lot of opportunities for them here. The number of businesses that are being formed in UAE is increasing day by day that is why the investors are investing here as well.
Before forming a company, the main thing that should be the focus of the investors and the businessmen is the documentation. This is because legal documentation is really important for anyone who is interested in forming a new business set up. A lot of people are already aware of it but those who do not know about it should learn about it.
If there are investors who have no idea regarding the legal documentation and their drafting, they must get the services of legal drafting IN use. this is the only way they can be on the safe side without dealing with the problems.
Utilizing the legal document drafting service provider will make your life a lot easier because they will help you with the legal drafting in so many ways. Read more https://hhslawyers.com/legal-drafting/
Documentation is necessary
This is because there are a lot of government authorities and departments who might ask the businessmen regarding their documents. In such a situation, the person must have all of his documents so that he may not face any problem in UAE.
Memorandum of Association (MOA)
Memorandum of Association is basically a legal document and its purpose is to define the role of the company with its shareholders. The time at which this document is to be made is during the respiration of formation of the company.
Documents to be shown in MOA;
- The address of the office
- shareholders’ names
- company’s name
- share distribution
Some additional details are also added in the document which is related to the company operating to the extent of some conditions.
What Does Memorandum of Association Contain?
Before going for legal drafting in Dubai, UAE, you need to know some important clauses that are added to the Memorandum of Association. There are many lawyers in dubai, UAE help you in MOA drafting services
Name of the Company
Your company’s legal name should be there in the Memorandum of Association. In addition to that, there should be the addition of some organizational objectives along with the office address as well.
Name of the Partners
You ought to mention the names of the partners in Memorandum of Association as well. along with the names, you must add their nationalities and addresses.
You need to share the capital amount of your partners and their shares in the MOA. This is because it will be considered as the authorized capital of the company.
Method of Contribution
Different stakeholders use different sharing medium if the capital. You must mention the one that is being used for your company in MOA.
Names of the Directors
Mention the names of the directors and their nationalities
Method of Profit Loss Distribution
You must have formulated a plan for dealing with the profits and losses of the company. the method that has been formulated by your company should be mentioned in the MOA. Along with the method, you must mention the share of the partners in the profits and losses.
Commencement Date and Contract Period
Mention both the Commencement date and contract period in MOA to avoid any problem in the future
Sending Notices to Partners Procedure
Mention the procedure that will be carried out by you in order to send the notices to the partners.
Some people might feel like the legal documentation is very complex and they would not be able to handle it on their own. For the people in such situations, there are a lot of law firms in dubai offer legal drafting in UAE. they provide the best services to the masses regarding legal drafting without bringing any stress to them.