Memoranda of Association Dubai
A memorandum of association (also known as memorandum or MOA) is a document regulating a company’s external activities and it has to be drawn up on the formation of the company.
Almost all of the clauses of a memorandum may be modified by the company’s shareholders by following the prescribed procedures. The memorandum is a public document and may be consulted by anyone, usually at the public office where the document is filed.
The memorandum of association is the most important record of a company. It regulates the company’s relationship with external parties and defines all of the rules that the company has to follow. It is compulsory for every company that wants to be registered as a private or public limited company to write down the memorandum of association.
A company’s memorandum of association has to contain the following pieces of information:
- The company’s name.
- The State where the company’s registered office is located.
- The company’s objectives.
- Shareholders’ liability, which may be limited by shares or by guarantee. This part may be omitted in the case of unlimited liability.
- The company’s share capital and its division into shares.
- The company’s first subscribers (names and addresses).
This document has to be published and given to the company’s shareholders, creditors and any other party involved so that everybody know the line which the company shall adopt.