Does a Commercial Trade License require a partnership?
Yes, a Commercial Trade License needs to be established under a partnership. It is essential that the business partner is a UAE national, with a holding of 51% of shares in the company. Nevertheless, with change in time and mutual understanding there are several considerate agreements and secured contracts made among partners these days. Due to which, the foreign owner has equal control over the business, while the local sponsor receives an annual sponsorship fees for his services.