Memorandum of Association

Memorandum of Association is a document required for the process of formation and registration of a company as per the applicable procedures. It should be signed by the company’s shareholders before the notary public.

Memorandum of Association in United Arab Emirates

In UAE, if you want to set up a limited liability company, you have to draft a memorandum of association to define the name of the company, the full name of each partner and his nationality, the head office of the company, the activities, the capital of the company and distribution of shares, the financial year of the company, and the rate of distribution of profits and losses. “If the company’s Memorandum of Association does not stipulate the proportion of a partner in the profits or losses, his share thereof shall be pro rata to his stake in the capital

.If the Memorandum of Association is limited to specifying a partner’s share in the profits, his share in the losses shall be equivalent to his share in the profits and vice versa” commercial Companies Law, article 29.

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Language

The memorandum of association should be written in Arabic. If one or more of the partners does not understand Arabic, then the memorandum of association should be written one side Arabic and one side English and stamped by a legal translator approved by the Ministry of Justice.

Powers of the manger

You can mention the powers of the manager in the memorandum of association. The partners should choose the manager, they can determine his powers and authorities with regard to his management of the administrative, financial and technical affairs of the company, his right to approach governmental and non-governmental departments, companies, establishments and individuals, and whether to open, operate or close bank accounts under the name of the company or not.

Required Documents To get memorandum of association

To get a notarized memorandum of association you have to get a trade name first from department of economic development. You can get the trade name online from the website of the department of economic development. The trade name shows the company name, its legal form, and activities which shall be mentioned in the memorandum of association. A copy of IDs of the partners are also required.

Legalization

At Business Gate Legal Translation Services, we will give you a memorandum of association duly legalized by a sworn translator so that you can directly apply online and get the notarization from the notary public. You can send to our whatsapp number a copy of the trade name and copies of the partners’ IDs and we will do the process. All what is required from the partners then is to go sign before the notary public and receive the notarized copy. For any further information regarding the service, you can whatsapp our sworn translator on: 0547810811 and he will furnish you all details.

Call or whatsapp 0547810811 and get your memorandum of association now.

Memorandum of association is an important document so you should choose Business Gate Legal Translation services, the top notch legal translation office in Abu Dhabi and UAE, to draft and translate your power of attorney.

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