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Partnership Deed for United Arab Emirates

Partnership Deed Template for United Arab Emirates

A comprehensive legal document governed by UAE law that establishes and regulates the relationship between two or more partners in a business venture. This document, compliant with UAE Commercial Companies Law (Federal Law No. 2 of 2015), outlines the essential elements of the partnership including capital contributions, profit-sharing arrangements, management responsibilities, and dispute resolution mechanisms. It serves as the foundational agreement that governs the partners' rights, obligations, and liabilities while ensuring compliance with UAE's business regulations and local emirate requirements.

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What is a Partnership Deed?

The Partnership Deed is a crucial legal document used when establishing a formal business partnership in the United Arab Emirates. It serves as the primary governing document for partnerships formed under UAE Commercial Companies Law (Federal Law No. 2 of 2015) and related regulations. This document is essential when two or more parties wish to enter into a business partnership, whether for professional services, trading, or other commercial activities. The Partnership Deed encompasses critical elements such as capital contributions, profit-sharing ratios, management structure, partner obligations, and dissolution procedures. It must comply with both federal UAE legislation and specific emirate-level requirements where the partnership operates. The document provides legal protection for all partners and establishes clear guidelines for business operations, dispute resolution, and partnership evolution.

What sections should be included in a Partnership Deed?

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

2. Background: Context of the partnership formation, including the business purpose and partners' intention to work together

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 Duration: Start date of the partnership and whether it's for a fixed term or perpetual

6. Capital Contribution: Details of initial and any agreed future capital contributions from each partner

7. Partnership Property: Description of partnership assets and property ownership arrangement

8. Profit and Loss Sharing: Formula and mechanism for distributing profits and losses among partners

9. Management and Decision Making: Management structure, voting rights, and decision-making processes

10. Banking and Financial Matters: Banking arrangements, accounting practices, and financial management procedures

11. Partners' Duties and Obligations: Specific responsibilities and obligations of each partner

12. Restrictions on Partners: Non-compete and other restrictive covenants applicable to partners

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

14. Death or Incapacity: Procedures in case of death or incapacity of a partner

15. Termination and Dissolution: Circumstances and procedures for partnership termination and asset distribution

16. Dispute Resolution: Procedures for resolving disputes between partners

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

18. Notices: Process for serving formal notices between partners

19. General Provisions: Miscellaneous legal provisions including severability and entire agreement

What sections are optional to include in a Partnership Deed?

1. Intellectual Property Rights: Provisions regarding ownership and use of intellectual property, necessary when the partnership involves significant IP assets

2. Employee Matters: Provisions regarding employment policies and staff management, relevant for larger partnerships with employees

3. Insurance: Requirements for business insurance coverage, important for high-risk business activities

4. Environmental Compliance: Environmental obligations and compliance requirements, necessary for partnerships in industries with environmental impact

5. Special Profit Sharing Arrangements: Complex or special profit sharing mechanisms, needed when standard profit sharing is insufficient

6. International Operations: Provisions for international business activities, relevant for partnerships operating across borders

7. Shariah Compliance: Specific provisions ensuring compliance with Shariah law, if required by the partners

What schedules should be included in a Partnership Deed?

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

2. Schedule 2 - Profit Sharing Ratios: Detailed formula and calculations for profit and loss distribution

3. Schedule 3 - Business Plan: Initial business plan and strategic objectives of the partnership

4. Schedule 4 - Property Schedule: Detailed list and description of partnership properties and assets

5. Schedule 5 - Management Responsibilities: Detailed allocation of management duties and responsibilities

6. Appendix A - Required Licenses: List of required business licenses and permits

7. Appendix B - Partner Information: Detailed information about each partner including contact details and representatives

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

Cost

Free to use
Relevant legal definitions













































Clauses







































Relevant Industries

Real Estate Development

Trading and Import/Export

Professional Services

Manufacturing

Technology and Software

Healthcare

Retail and Consumer Goods

Construction and Engineering

Financial Services

Hospitality and Tourism

Logistics and Transportation

Education

Media and Entertainment

Food and Beverage

Consulting Services

Relevant Teams

Legal

Corporate Affairs

Finance

Compliance

Risk Management

Business Development

Operations

Administrative

Company Secretariat

Investment

Strategy

Corporate Governance

Relevant Roles

Business Owner

Managing Partner

Chief Executive Officer

Chief Financial Officer

Legal Counsel

Corporate Lawyer

Business Development Manager

Company Secretary

Finance Director

Managing Director

Compliance Officer

Risk Manager

Investment Manager

Operations Director

Partnership Administrator

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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