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Original Partnership Deed for United Arab Emirates

Original Partnership Deed Template for United Arab Emirates

A Partnership Deed governed by UAE law is a fundamental legal document that establishes and regulates the relationship between partners in a business venture within the United Arab Emirates. This document, structured in accordance with UAE Federal Law No. 2 of 2015 (Commercial Companies Law), sets out the essential terms and conditions of the partnership, including capital contributions, profit-sharing ratios, management responsibilities, and operational procedures. It serves as the primary governing document for the partnership and must comply with UAE legal requirements, including proper notarization and registration with relevant authorities.

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Original Partnership Deed

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What is a Original Partnership Deed?

The Original Partnership Deed is a crucial legal document used when establishing a new business partnership in the United Arab Emirates. It serves as the founding document that defines the framework within which partners will operate their business, in compliance with UAE Federal Law No. 2 of 2015 and related regulations. This document is essential when two or more parties wish to formally establish a business partnership, whether for professional services, trading, or other commercial activities. The Partnership Deed includes vital information such as capital contributions, profit-sharing arrangements, management structures, and partner obligations. It must be properly executed, notarized, and registered with relevant UAE authorities to ensure legal validity and protection of partners' interests. The document is particularly important in the UAE context, where specific legal requirements and local business practices must be carefully considered and incorporated.

What sections should be included in a Original Partnership Deed?

1. Parties: Details of all partners entering into the partnership agreement, including full legal names, addresses, and nationality

2. Background: Context of the partnership formation and brief description of the intended business

3. Definitions: Definitions of key terms used throughout the deed

4. Partnership Name and Business: Official name of the partnership and detailed description of its business activities

5. Commencement and Term: Start date of the partnership and its duration (if fixed)

6. Capital Contribution: Details of initial capital contributions from each partner and the partnership's total capital

7. Profit and Loss Sharing: Ratio or method of distributing profits and losses among partners

8. Management and Decision Making: Partnership management structure and decision-making processes

9. Banking and Financial Matters: Banking arrangements, financial record-keeping, and accounting procedures

10. Partner Duties and Obligations: Specific responsibilities and obligations of each partner

11. Restrictions on Partners: Limitations on partners' activities, including non-compete and confidentiality obligations

12. Addition and Retirement of Partners: Procedures for admitting new partners or handling partner retirement

13. Dissolution and Termination: Circumstances and procedures for partnership dissolution

14. Governing Law and Jurisdiction: Specification of UAE law as governing law and relevant jurisdiction

What sections are optional to include in a Original Partnership Deed?

1. Intellectual Property Rights: Used when the partnership owns or develops intellectual property, defining ownership and usage rights

2. Good Will: Include when there's significant business goodwill to be considered or when acquiring an existing business

3. Insurance: Required when specific insurance coverage needs to be maintained by the partnership

4. Partner's Death or Incapacity: Include detailed provisions for handling a partner's death or incapacity

5. Dispute Resolution: Alternative dispute resolution mechanisms like mediation before litigation

6. Force Majeure: Include when partners want specific provisions for handling unforeseen circumstances

7. Environmental Compliance: Required for businesses with environmental impact considerations

8. Employee Matters: Include when the partnership will have employees and needs specific employment policies

What schedules should be included in a Original Partnership Deed?

1. Schedule 1 - Capital Contributions: Detailed breakdown of each partner's capital contributions, including valuations of non-cash assets

2. Schedule 2 - Business Plan: Initial business plan and projections for the partnership

3. Schedule 3 - Property Details: Details of any property owned or leased by the partnership

4. Schedule 4 - Partner Contact Information: Complete contact details and correspondence addresses for all partners

5. Schedule 5 - Asset Register: List of all partnership assets with their values and ownership details

6. Appendix A - Management Procedures: Detailed procedures for day-to-day management and decision-making

7. Appendix B - Financial Procedures: Detailed financial management and accounting procedures

8. Appendix C - Required Licenses and Permits: List of all required licenses and permits for the partnership's operations

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok成人版 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Cost

Free to use
Relevant legal definitions












































Clauses







































Relevant Industries

Professional Services

Real Estate

Retail

Manufacturing

Trading

Technology

Construction

Healthcare

Hospitality

Consulting

Food and Beverage

Import/Export

Education

Financial Services

Relevant Teams

Legal

Finance

Compliance

Operations

Business Development

Risk Management

Corporate Governance

Strategy

Commercial

Administration

Relevant Roles

Managing Partner

Chief Executive Officer

Legal Counsel

Chief Financial Officer

Business Development Manager

Operations Director

Company Secretary

Compliance Officer

Risk Manager

Finance Director

Partner Relations Manager

Strategic Planning Director

General Manager

Commercial Director

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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