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-   -   Shareholding in a UAE company (https://britishexpats.com/forum/sand-pit-116/shareholding-uae-company-679606/)

Bahtatboy Aug 3rd 2010 2:54 pm

Shareholding in a UAE company
 
I have been offered the opportunity to buy 10% of the shares of a newly-formed UAE company, which is the off-shoot of an Italian company. I'm unfamiliar with UAE law in respect of my liabilities--am I right in thinking they'd be limited to the value of my shareholding?

Millhouse Aug 3rd 2010 3:57 pm

Re: Shareholding in a UAE company
 

Originally Posted by Bahtatboy (Post 8749873)
I have been offered the opportunity to buy 10% of the shares of a newly-formed UAE company, which is the off-shoot of an Italian company. I'm unfamiliar with UAE law in respect of my liabilities--am I right in thinking they'd be limited to the value of my shareholding?

LLC right? pretty much yes - do you know if there is / have you seen a shareholders' agreement?

The one thing that could step outside of this is the bond to the ministry. If it's been cash covered by the company then all is good. If fronted by the shareholders (unlikely and I'm not sure if it's possible here) then not so good.

I'd also get D&O insurance... just in case.

Bahtatboy Aug 3rd 2010 6:36 pm

Re: Shareholding in a UAE company
 
Thanks Millhouse. Haven't see any docs and don't have any details of the legal status of the company yet, but will find out this weekend.

:D


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