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cc jOINT VENTUREThe Federal Law of the United Arab Emirates expressly regulates the Consortium Company - CC, defined "Joint Venture" company which can be composed of other legal forms. In fact, the "Joint venture" is a contractual agreement among and/or more foreign parties, and a partner and/or more local partners are authorized to conduct a specific activity. In this context, the participation of the partner/local partner shall be not less than 51%, although the distribution of profits and losses can be adjusted differently, according to agreement of the inter-parties. The "Joint Venture" can not be fitted with a working license in the UAE, therefore, use the partner's one/local partner's one; peculiarities of no small importance is that the agreement of a "Joint Venture", as well as the agreement of inter-parties, may not be made public. Through the tool that has been constituted, which the "Joint Venture", the foreign part/parts are in legitimate business at dealing directly with third parties, using the name of the party/the local party and taking legal duty. In short, "Joint Ventures" are suitable for companies who work together for/to specific projects.

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