A Partnership Company is a single business where two or more people share ownership. Each partner contributes to all aspects of the business and must administer the company unless a contract assigns administration to one partner or to another party.
- The company can conduct commercial and industrial activities only.
- A Simple Limited Partnership must have UAE Nationals as general partners; Nationals of other countries can be limited partners.
- Each general partner and limited partner can own any share of the business. There is no minimum or maximum ownership level for any partner.
- A limited partner may not intervene in management or administrative issues related to the other partners. If he or she does so, that limited partner shall be responsible for all the business’s obligations.
- The name of the business must contain the name of one or more of the partners, with the addition of a word signifying that it is the name of a business. If a non-partner is named in the business name, with his or her knowledge, that individual is jointly responsible for the business’s debts. The business can also have a commercial name.
- A Partnership Company can appoint one manager only as per DED business regulations.
- A Partnership Company can have more than one branch. Each may undertake one or all of the activities included in the main business license.
Assignment of License:
- Partnership Company branches can be sold and waived to any party or company. The owner(s) can also change its legal form according to DED procedures.