Private Joint Stock Company
Private Joint Stock Company
A Private Joint Stock Company is a company where the number of the shareholders is at least two shareholders. The capital of the company shall be divided into shares of the same nominal value, to be paid in full without offering any shares for public subscription, by the execution of the Memorandum of Association and compliance with the provisions of this Law in connection with registration and incorporation.
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
- Certifying lease contract from Sharjah City Municipality
- As an exception to the minimum number of shareholders, a legal person may establish and own all shares in a private joint stock company. The owner of the capital is not responsible for its obligations except within the limits of the capital mentioned in its memorandum of association, and the name of the company must be followed by the phrase (Private Joint Stock Company - One Person Company) and it applies to it). Provisions for one time (Private Joint Stock).
- All partners, whose number must not be less than three, must be citizens of GCC countries. If there is one or more partners from another nationality, the following is applied:
- Citizens of the GCC countries may practice most commercial, professional and industrial activities when they meet the requirements and conditions (except for the activities of Hajj and Ummrah services, commercial agencies, centers for People of Determination, elderly care, community service, press and publishing houses of newspapers and magazines, as they are limited to UAE citizens).
- Shares of these companies are not offered for public subscription.
- Company's capital may not be less than five million dirhams.
- Private Joint Stock Company may transform into a Public Joint Stock Company if the following conditions are met:
- The value of the issued shares has been paid in full, or the partners’ shares have been fully paid
- A period of no less than two consecutive years for the company has expired.
- The company has achieved net profits distributable to shareholders not less than an average of 10% of the capital during the two years preceding the conversion request.
- Special resolution or something equivalent to converting the company into a public joint stock company was issued.
- All commercial and industrial activities and most of the 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
- 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 7000
- 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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