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Sole proprietorship in UAE

legal entity owned and operated

  • Sole proprietorship in Dubai

    Sole proprietorship in Dubai

    A legal entity owned and operated by an individual. He will be sole responsible for debts and financial obligations with complete ownership on profits and operations of firm.

    • A commercial or industrial type sole proprietorship can be owned only by UAE nationals or GCC nationals.
    • The owner of a consultancy type of sole proprietorship should have a scientific qualification for the activity selected.
    • A sole proprietorship firm can have only one manager.
    • A sole proprietorship has no minimum requirement for business capital.
    • Trade name should be related to the activity.
    • A sole proprietorship can have branches, which can perform all activities included in license of parent firm.
    • The firm and its branches can be sold but industrial or commercial type of firm can only be sold to UAE nationals or GCC nationals.