One of the questions we get frequently asked by new business ventures is whether they require a local UAE partner/nominee. The answer depends on factors involved such as business activity, jurisdiction and nationality.
With the recent introduction of 100% foreign ownership for many business activities, some businesses may choose to incorporate using this option. However, in some cases, legal experts in the UAE will recommend a business to choose a 100% national owned company to act as a shareholder or corporate nominee partner. By law, there are still a number of key strategic activities such as banking, security, investment and insurance that require UAE local participation and 100% foreign ownership is not allowed.
Synergy manages and operates 100% national owned companies that act as a corporate nominee partner for foreign companies. This provides full protection for the foreign company’s assets whilst protecting the local partner from undue risk. Through our Professional Local Partners, Synergy offers clients a secure and trusted nominee structure that safeguards their interests and is fully compliant with the law.
The advantages of our specialist nominee service are:
Full Autonomy – Our corporate nominee service enables you to conduct your business, without interference from your local partner. You can fully manage and operate your business operations.
Security – Your business is fully protected and secure in the event of unforeseen circumstances. Plus Synergy provides full legal documentation securing your business from any risk factors.
Professional Relationship – Synergy works in partnership with a number of trusted local corporate nominees. Providing you with the full assurance you can operate your business independently without interference.
Confirm Economic Substance – Through a corporate nominee, you can provide proof that your business is managed within the UAE in order to comply with the economic substance act.
If you would like to learn more about our UAE corporate nominee services and partnerships, our expert team will be delighted to offer a consultation. You can also learn more about our partnership services here.