The UAE's company name registration process requires names to adhere to certain protocols, such as:

• The business name should reflect the company's primary activity.
• The name should not be reserved, protected or copyrighted by another business.
• It should not include names of locations, such as UAE, Emirates, Dubai and other cities, districts and UAE airport codes.
• Offensive, obscene or indecent words should not be included, even if it is a person's name.
• The business name should not include the name of God or any of His divine attributes, either in English or Arabic.
• Names of global political, religious or sectarian groups (e.g. FBI, Vatican and UN) must also not be included.
• The name should not fully or partially contain words already used by global or local brands and government projects.

According to the UAE Federal Law 2 of 2015 concerning Commercial Companies, the following company structures offer limited liability:

• Limited liability company (LLC) - A minimum of 2 and a maximum of 50 shareholders can form an LLC. The shares of an LLC cannot be offered to the public.
• Public joint stock company (PJSC) - Five or more people can form a PJSC. Although the shares of a PJSC can be offered to the public, the shareholders must hold between 30% to 70% of the shares before offering the remaining shares to the public.
• Private joint stock company - A minimum of 2 and a maximum of 200 shareholders can form a private joint stock company. Similar to an LLC, the shares of a private joint stock company cannot be offered to the public.

The most common legal entity structure in the UAE is LLC. Shareholders of an LLC do not hold share certificates, but instead own a percentage of the LLC's capital. The share certificates are not transferable.

Free zones also allow incorporation of LLCs, such as:

• Free zone limited liability company (FZ-LLC) - A minimum of one shareholder is required. The maximum number of shareholders allowed is generally 5, but this depends on the free zone.
• Free zone establishment (FZE) - An FZE allows single shareholder limited liability.

The board structure of a company in the UAE depends on its legal form.

• LLCs with up to 7 partners can have a single “company manager,” which can be one of the partners or a third party. LLCs can have several company managers, and the partners (shareholders) can also form a management board.
• LLCs that have 7 or more partners require a supervisory board that oversees the managers or management board. At least 3 of the LLC's partners must be part of the supervisory board.
• PJSCs must have a board of directors, with a minimum of 3 and a maximum of 11 board members. The board must include executive, non-executive and independent directors.

The UAE does not impose any age restrictions for directors of both LLCs and PJSCs. However, in a PJSC, the chairman and the majority of its board members must be UAE nationals. The UAE also requires local public shareholding companies to have at least 20% female representation on their management board. If no female member has been nominated, the company must disclose its reasons, as well as the rate of female representation on its board of directors in its annual governance report.

A physical address is required for a business to operate in the UAE. The premises and location of the business must meet the requirements of the Department of Economic Development of the emirate where it will be registered, as well as the land planning regulations of the local municipalities.

Businesses must also submit their office and warehouse rental agreements, and some emirates require these to be attested. In Dubai, the agreement must be registered with Ejari, an online platform launched by the Real Estate Regulatory Agency (RERA) for recording rental or lease contracts.

In certain free zones, businesses are not required to have an office space. However, a physical address is still mandatory for opening a bank account. Many free zones offer flexi-desk options, which can satisfy this requirement.

The UAE Commercial Companies Law does not stipulate a minimum capital requirement for LLCs. It is however, mandated that the capital of an LLC must be sufficient to cover its activities. The average share capital is around AED 100,000 to AED 300,000, but it is not required to be deposited or paid upfront. These regulations also apply to a free zone company if it is an LLC.

On the other hand, a public joint stock company is required to have a minimum share capital of AED 30 million (USD 8.1 million), while a private joint stock company must have a share capital worth at least AED 5 million (USD 1.3 million).

The UAE Commercial Companies Law has issued a set of general duties and liabilities applicable to all managers, directors and commercial companies (including LLCs and joint stock companies). These general duties and obligations include the following:

• Complying with all state legislation and laws, the provisions of the Memorandum of Association (MOA) and the Articles of Association (AOA), the terms of their management and/or employment contracts and resolutions issued by the general assembly.
• Registering the MOA and AOA of their company, including all amendments, in the commercial register.
• Preserving the rights of their company and acting for its benefit with caution, in accordance with the company's objectives and the powers granted to them.
• Avoiding fraudulent acts and any management, participation or involvement in any business or activity that is in competition with the company.
• Preparing the annual budget, an annual report about their company's activities and a financial report and have these audited by the company's auditor before presenting them to the general assembly. A copy of these documents, as well as the company's books, must be provided if requested by the shareholder(s).
• Arranging a general assembly meeting at least once within the company's fiscal year and in accordance with the Companies' Law.
• Registering the company's dissolution in the commercial register with the relevant authority and announcing the dissolution in two daily local newspapers.

Another set of specific obligations and duties may apply to managers and directors of certain companies depending on the nature and legal form of their company. On the other hand, the chairmen and directors of joint stock companies are governed by a different set of specific obligations and duties.

Foreign companies can establish a branch office in the UAE to conduct professional or service-based activities, but not trading activities. Each emirate has its own licencing regulations for branch offices; these are managed by their respective Department of Economic Development agencies.

Branch offices are considered as individual businesses and can therefore execute contracts and conduct business activities, as stipulated in their licence. Branch offices do not have a separate legal identity and are regarded as the same entities as their parent companies. Parent companies are, therefore, accountable for the debts of a branch.

Foreign companies can also set up a representative office in the UAE if they only aim to perform marketing and promotional activities for their business. Representative offices are considered as extensions of existing businesses and are not authorised to conduct any income-generating activities.

LLCs and joint stock companies in the UAE must appoint one or more auditors. Incorporated companies are mandated to file their audited financial statements with the Ministry of Economy, or the relevant authority, to renew their trade licence.

Listed companies must file their financial statements quarterly and annually in both English and Arabic with the Securities and Commodities Authority (SCA).

Banks and branches of foreign banks are further required to file their audited annual financial statements and regulatory returns with the Central Bank of the UAE. These also need to be published in a local newspaper.

The Central Bank of the UAE and SCA mandate the use of International Financial Reporting Standards, while most companies follow generally accepted accounting principles (GAAP).

Although there is no specific language requirement for maintaining books and accounts, most companies do so in English. Generally, businesses are expected to maintain their records for at least 5 to 7 years.

Islamic banks adhere to Sharia laws on banking, as well as the stipulations provided in the Federal Law No. 6 of 1985 regarding Islamic banks, financial institutions and investment companies. Islamic banks are allowed to conduct all or part of banking, commercial, financial and investment services and operations.

pening a bank account in the UAE is a straightforward process with minimal requirements.

UAE citizens must submit a copy of their family book, a salary letter or a letter of No Objection from their employer.

Expatriate residents in the UAE must submit a copy of their passport, residence visa and Emirates ID, as well as a salary letter or letter of No Objection from their employer or sponsor.

Both citizens and residents are allowed to open a joint account with a legitimate resident of the UAE, but procedures and requirements may differ for each bank.

The UAE requires the use of an International Bank Account Number (IBAN) to facilitate all electronic payments and receipts inside and outside of the country. Credit card payments can be exempted.

To open a corporate bank account, the following documents are required:

• A copy of the trade licence, share certificates, certificate of incorporation, company memorandum and articles of association.
• Copies of the passports of all partners in the company.
• A corporate account opening form.
• A board of directors' resolution authorising the bank account opening and signatories to the account.

Additional documents, such as contracts, invoices and business plans, may be required by certain banks.