Joint Liability Company
Joint Liability Company
A Joint Liability Company is a company, which consists of two or more partners who are natural persons, to be jointly responsible in all their monies for the obligations of the company.
Individuals – Institutions – Companies
- Issuing the initial approval through the channels available at e services or service centers
- Certifying Memorandum of Association for a company by visiting the Commercial Legal Affairs Section at SEDD or through the channels available in e-services or service centers
- Fingerprint of investors or their legal representatives at the service center
- Approvals of concerned authorities according to activity
- Certifying lease contract from Sharjah City Municipality
- All partners must be UAE citizens
- Company name should consist of all partners’ names. It may be limited to the name of one or more of the partners, with the addition of (and partners) or something that conveys this meaning, provided that the name ends with the phrase (Joint Liability Company) which indicates the existence of the company. In addition, it may have a special trade name associated with its registered name.
- If company name is mentioned in the name of a person who is not a partner in it with his knowledge of that, he shall be jointly responsible for the company's obligations.
- Each partner is considered a merchant and bankruptcy of the company leads to the bankruptcy of all the partners.
- Partners' shares may not be represented in negotiable instruments.
- Partners jointly liable in all their money for the company's obligations.
- The management of the company is for all the partners. Each partner in the company is considered an agent for it and for the rest of the partners in relation to the company’s business, unless the management is entrusted to one of the partners in accordance with the partnership contract or an independent contract.
- Company can engage in most industrial, commercial and professional activities.
- Certifying contract or appendix with value less than AED 50,000. Required fees: AED 200 for the signature of each party of contract or appendix.
- Certifying contract or appendix with value less than AED 50,000 or not more than AED 100,000. Required fees: AED 300 for the signature of each party of contract or appendix.
- Certifying contract or appendix with value exceeding AED 100,000. Required fees: 0.5% of contract or appendix value, up to a maximum of AED 15,000.
- Certifying unlimited value contract or appendix. Required fees: AED 200 for the signature of each party of contract or appendix.
- Fees for issuing licenses, a minimum of AED 2750 for UAE citizen / AED 5500 for foreigners
- Approving advertisement specification form fees, a minimum of AED 200 (taking into account the difference in fees according to the signboard data)
- Issuing commercial register certificate fees AED 1700
- Taking into account the collection of fees on the rental value (for citizens 8% and for foreigners 13%)
- Taking into account the collection of fees of Sharjah Chamber of Commerce and Industry System
1. Sharjah City Municipality
2. Approvals of other authorities depending on activity
Sharjah Economic Development Department branches 7:30am To 3:30pm
Tasheel;s Service Centers 8:00am To 8:00pm
One Working Day
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