What is the meaning of “joint venture” in the UAE?
In the UAE so-called joint ventures are present in all areas of economy, trade, manufacture and industrial production. Internationally, the term joint venture is not always used consistently. A joint venture is generally understood as “the legal relationship of legal entities and/or individuals running a business or company jointly with the intention of generating an income”. In the UAE, a joint venture with foreign participation is generally understood as the corporate association of a foreign investor and a national of the UAE, with the objective of commercial activity in the UAE. Joint ventures in the UAE, or, in the other member states of the Gulf Cooperation Council are therefore not just consortia or working partnerships, but usually legal entities in the form of corporate enterprises.
