Private Joint Stock Companies:

Right Track Businessmen Services - Private Joint Stock Companies: 

This entity requires a minimum of three founding members who, between them, fully subscribe to a minimum capital of AED 2 million. The shares of private joint stock companies may not be offered for public subscription. Private joint stock companies may be converted into public joint stock companies if (i) the company has operated for two or more financial years, (ii) the shares are fully paid up, (iii) the company has achieved net profits distributable to shareholders of an average of at least 10% of its capital during the two years preceding the application to convert, and (iv) a majority of the shareholders holding at least 75% of the company’s shares adopt a resolution of the extraordinary general assembly to convert.