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Board Resolution For Partnership for United Arab Emirates

Board Resolution For Partnership Template for United Arab Emirates

A Board Resolution for Partnership is a formal document that records the decision of a company's board of directors to enter into a partnership arrangement in the United Arab Emirates. This document, governed by UAE Federal Law No. 2 of 2015 and related regulations, serves as official evidence of the board's approval and authorization for the partnership. It includes essential details such as the terms of the partnership, capital contributions, profit-sharing arrangements, and specific authorizations granted to execute the partnership agreement. The resolution must comply with UAE corporate governance requirements and may need additional provisions depending on whether the partnership involves local or foreign entities.

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What is a Board Resolution For Partnership?

A Board Resolution For Partnership is a crucial corporate document required when a company in the UAE decides to enter into a partnership with another entity. This document is necessary under UAE Federal Law No. 2 of 2015 (Commercial Companies Law) and must be prepared whenever a company plans to form a partnership, whether with local or foreign entities. The resolution demonstrates that the decision to enter into the partnership has been properly approved at the board level and includes specific details about the partnership structure, obligations, and authorizations. It serves as both a corporate governance requirement and a legal prerequisite for partnership registration with relevant UAE authorities. The document is particularly important for maintaining corporate records and may be required by government authorities, banks, or other stakeholders as evidence of proper corporate authorization.

What sections should be included in a Board Resolution For Partnership?

1. Title and Date: Formal title of the resolution, company name, and date of the board meeting

2. Attendance and Quorum: List of board members present and confirmation of meeting quorum requirements

3. Recitals: Background information including company details, reason for partnership, and reference to relevant board powers

4. Definitions: Key terms used in the resolution

5. Partnership Details: Specific details about the partnership including partner information, business scope, and structure

6. Financial Terms: Capital contribution, profit/loss sharing, and other financial arrangements

7. Board's Resolution: The formal decision of the board to enter into the partnership

8. Authorization: Specific powers granted to execute the partnership and related documents

9. Certification: Authentication of the resolution by authorized signatories

What sections are optional to include in a Board Resolution For Partnership?

1. Regulatory Compliance: Required for regulated industries or when specific licenses/permits are needed

2. Foreign Ownership Provisions: Required when partnership involves foreign partners, addressing UAE foreign ownership restrictions

3. Special Conditions: Any specific conditions or requirements unique to the partnership

4. Delegation of Authority: Additional authorizations for specific individuals to handle partnership matters

5. Exit Provisions: Specific terms for partnership termination or partner exit, if decided at board level

What schedules should be included in a Board Resolution For Partnership?

1. Partner Information Schedule: Detailed information about the partnership parties including corporate/individual details

2. Business Plan: Overview of partnership business objectives and operational plan

3. Capital Structure: Detailed breakdown of capital contributions and ownership structure

4. Authorized Signatories: List of individuals authorized to execute partnership documents

5. Required Licenses and Permits: List of regulatory approvals needed for the partnership

6. Board Meeting Minutes: Extract of board meeting minutes related to the partnership decision

Authors

Alex Denne

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

Publisher

Genie AI

Document Type

Board Resolution

Cost

Free to use
Relevant legal definitions




























Clauses



















Relevant Industries

Real Estate

Manufacturing

Technology

Healthcare

Retail

Construction

Professional Services

Financial Services

Hospitality

Trading

Energy

Telecommunications

Transportation

Education

Relevant Teams

Legal

Corporate Governance

Compliance

Corporate Affairs

Board Secretariat

Finance

Risk Management

Business Development

Executive Office

Relevant Roles

Chief Executive Officer

Managing Director

Board Member

Company Secretary

Legal Counsel

Corporate Governance Officer

Compliance Manager

Chief Financial Officer

Business Development Director

Partnership Manager

Risk Manager

Corporate Affairs Manager

General Counsel

Board Chairman

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,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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