Organisations require a bespoke governance framework to guide employees on the correct internal controls, policies and procedures to follow. The governance framework of an entity or group will differ based on the type of company and where they are regulated. In the United Arab Emirates a business can set up on-shore under the Department of Economic Development or in one of the many free zones across the seven Emirates. Many businesses set up in a free zone as they allow 100% foreign ownership. All companies, whether established on-shore or in a free zone, are required to adhere to the relevant laws and regulations, together with provisions in their constitution and policies/procedures. Public and private joint stock companies are required to an established Board of directors and mandated committees together with a Company Secretary. Other companies such as limited liability companies (LLC) have a general manager and may opt to establish a board of managers/directors. For free zone companies, board requirements and the appointment of a Board/Company Secretary will depend on the regulations of each free zone.
Wherever you are on the corporate governance journey our team of governance professionals can assess, review, advise or work with you to plan the next phase of your governance implementation. If you are looking for accredited corporate governance training we provide bespoke CPD training masterclasses.