You can have a local partner as 51 percent on paper . But in an internal agreement you can just pay the partner a fixed percentage of the total profits per year. External and internal contracts
First it says the enterprise must be owned by a minumum of 2 and a max of 50 partners. Then it says it can be owned exclusively by one partner 100%. Which one is it?
both are correct, you have two types , first if you want to establish your own company without partners, and second if you have partners you could have up to 50
Well in my state (Indonesia), the article's regulating LLC's establishment is not imperative/obligatory. So there is a possibility for LLC (In Indonesia especially) to be established by 1 people/party.
You can have a local partner as 51 percent on paper . But in an internal agreement you can just pay the partner a fixed percentage of the total profits per year.
External and internal contracts
First it says the enterprise must be owned by a minumum of 2 and a max of 50 partners. Then it says it can be owned exclusively by one partner 100%. Which one is it?
both are correct, you have two types , first if you want to establish your own company without partners, and second if you have partners you could have up to 50
Alex Donchev BOTH
Exactly, the video's wording was confusing and contradictory. But it was good other than that.
Well in my state (Indonesia), the article's regulating LLC's establishment is not imperative/obligatory. So there is a possibility for LLC (In Indonesia especially) to be established by 1 people/party.
Nice
Thanks
Is there any updates in 2019 ? Is it a must to have a local partner who is going to own 51% ?
great work
can you talk about types of companies in sultanate of oman
How to pay off credit card
How much Import and Export Company LLC license costs???
when you referred to a local partner, is it exclusively for UAE citizens?
yes
What about the gulf citizens?
considered expats under the provisions of the law
what do you recommend for a Saudi high tech startup to start in UAE? as a legal entity? I'm so appreciative.
Well LLC is a complete misnomer, companies are fully liable 🤷🏻♀️