Does the 20% share in Dubai LLC make companies associate?
An Indian partnership firm has 3 partners, one of whom holds a 20% share in an LLC in Dubai. The Indian firm exports goods while the LLC in Dubai also exports goods. The LLC acts as a sourcing agent for the Indian firm. Does this make both companies associate companies?
An Indian partnership firm and an LLC in Dubai may be considered associate companies if they share control or substantial influence over each other. However, if the Indian firm owns a significant portion of the LLC or they have a controlling interest, they may be classified as associate companies under the Companies Act. For further legal assistance contact us on our helpline number.
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