Public Joint Stock Company

 

A Public Joint Stock Company is a company whose capital is divided into equal and negotiable shares. The founders shall subscribe to part of such shares while the other shares are not to be offered to the public under a public subscription. A shareholder shall be liable only to the extent of his share in the capital of the company.       

Individuals – Institutions – Companies 

1. Issuing the initial approval through the channels available at e services or service centers
2. Certifying Memorandum of Association for a company by visiting the Commercial Legal Affairs Section at SEDD or through the channels available in e-services or service centers
3. Fingerprint of investors or their legal representatives at the service center
4. Certifying lease contract from Sharjah City Municipality

  • The company has a name derived from its purpose and it may not be the name of a natural person unless the company’s purpose is to invest a patent registered in the name of that person. Also, if the company, upon its incorporation or after that, owned a store and took his name as its name. In all cases, the term “Public Joint Stock Company “must be added to the company's name. In addition, the company should not bear any other name or a similar name, nor may another company request the competent administrative or judicial authority to compel the company whose name is named to change this name.
  • All partners, whose number must not be less than three, must be citizens of the GCC countries. If there is a partner holding another nationality, the following conditions apply: 
  • Citizens of the GCC countries may practice most commercial, professional and industrial activities when they meet the requirements and conditions (except for the activities of Hajj and Ummrah services, commercial agencies, centers for  People of Determination, elderly care, community service, press and publishing houses of newspapers and magazines, as they are limited to UAE citizens). 
  • The company's capital must be sufficient to achieve the purpose of its establishment. In all cases, the capital may not be less than thirty million dirhams.
  • Founders shall establish a committee whose members are not less than three of them to undertake the incorporation procedures and register them with the competent authorities. They should be fully responsible for the validity, accuracy and completeness of all documents, studies and reports submitted to the concerned authorities regarding the process of incorporation, licensing and registration of the company. 
  • Founders' committee must appoint a financial advisor, a legal advisor, and the underwriting auditor.
  • Founders must subscribe to shares of not less than 30% and not more than 70% of the company's issued capital, before calling for public subscription in the remaining shares of the company.
  • The company's capital consists of equal shares, the nominal value of each of which is not less than one dirham and not more than one hundred dirhams. Upon incorporation, shares may not be issued for less than their nominal value, in addition to the issuance expenses. Likely, all company shares should have an equal rights and are subject to equal obligations.
  • Shares are issued nominal, and may not be issued to the bearer. Also, they are negotiable. As for the profit coupons, which the company’s system means to their owner and its provisions, they may be nominal or to the bearer.
  • All commercial, industrial and professional activities
     

  1. Certifying contract or appendix with value less than AED 50,000. Required fees: AED 200 for the signature of each party of contract or appendix. 
  2. Certifying contract or appendix with value less than AED 50,000 or not more than AED 100,000. Required fees: AED 300 for the signature of each party of contract or appendix.
  3. Certifying contract or appendix with value exceeding AED 100,000. Required fees: 0.5% of contract or appendix value, up to a maximum of AED 15,000. 
  4. Certifying unlimited value contract or appendix. Required fees: AED 200 for the signature of each party of contract or appendix.
  5. Fees for issuing/renewing licenses, a minimum of AED 1100 for UAE citizen / AED 2200 for foreigners
  6. Permit for placing trade name sign: AED 200
  7. Approving advertisement specification form fees, a minimum of AED 200 (taking into account the difference in fees according to the signboard data) 
  8. Issuing commercial register certificate fees AED 1000
  9. Taking into account the collection of fees on the rental value (for citizens 8% and for foreigners 13%)
  10. Taking into account the collection of fees of Sharjah Chamber of Commerce and Industry System

1. Sharjah City Municipality
2. Approvals of other authorities depending on activity
 

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Sharjah Economic Development Department website.

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