Simple Limited Partnership
A Simple Limited Partnership is formed between a minimum of two partners – one general partner and one limited partner. The general partners are liable for the company’s liabilities to the extent of all their personal and business assets; the limited partners are liable for a share of company liabilities equal to their share of the company capital.
- 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 company should be that of one or more of the general partners, with an addition noting that this is a company name. The company can also have a special trade name. The name of any limited partner should not be mentioned in the name of the company.
- The 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:
- Public Shareholding 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