LEGAL FORMALITIES - Research Paper Example

ent rules and policies, laws, licensing process, business structure, required documents, taxation, accounting system, intellectual property rights and labor laws. Given below is the brief account of all legal formalities which will be fulfilled by HealthPoint in UAE. Although most of the sections of Company law are similar for all companies operating in UAE however, Government of Abu Dhabi and other regions of UAE has established their own support forums to guide new investors. As we are planning to launch our company in Abu Dhabi therefore, information on all legal activities has been collected for Abu Dhabi.

The companies which are involved in viable business activities in Abu Dhabi are required to follow trade licenses Law No. (5) Of 1998. This law deals with the issuance of licenses for the business planning to operate in Abu Dhabi. In addition, as the partners of HealthPoint will be foreign therefore, they also have to consider Law No. (7) Of 1998 (Abu Dhabi Government, 2010). According to this law, HealthPoint will have to get registered with Abu Dhabi Chamber of Commerce and Industry and after obtaining the membership the perquisite to obtain the license will be fulfilled.

The Government of Abu Dhabi has defined the competent authorities which are involved in issuing licenses to various kinds of businesses in Abu Dhabi. For HealthPoint the license will be issued by Commercial Licenses Authority. HealthPoint will also follow all the rules and regulations defined for the companies operating in Food Industry such as Food safety laws etc. In addition, the other legal requirements for opening a business have been discussed in the coming sections. HealthPoint will be a General Partnership Contract between the three partners.

According to Federal Law No (8) and Article (23), a general partnership can be established by two or more partners and the partners are liable to all debts of the company (Abu Dhabi Chamber of Commerce and Industry, 2010). The complete