UAE: How minors can conduct trade, minimum age to start a business; all you need to know

UAE has emerged as a secure and dynamic country for growth and entrepreneurship. With world-class business infrastructure, an attractive tax regime, and a favourable corporate environment, it has solidified its status as a global business destination.

The UAE's long-term residency programmes, such as the Golden Visa, Green Visa, and Investment Visa, have successfully attracted expats worldwide. These programmes have not only drawn emerging talents but also reassured entrepreneurs about the availability of a skilled workforce in the Emirates.

Although the UAE nurtures the ambitions of its young citizens and residents, the country has set a minimum age for entrepreneurship. According to the Ministry of Economy (MoE), any 18-year-old UAE resident is eligible to start a business or practice trade under the Commercial Transactions Law.

Stay up to date with the latest news. Follow KT on WhatsApp Channels.

According to the Law, a minor may engage in trade when they turn 15, whether under guardianship or custody. However, they must follow the rules and conditions issued by the Minister of Economy. This arrangement guarantees that the legal and financial parts of the firm are managed properly and ethically, in accordance with local rules.

If a minor (under 18) or a person under legal guardianship has money in a trade, the court can decide whether to let them take their money out or keep it invested, depending on what is best for them.

Suppose the court allows the minor to keep their money in the trade; it will give a representative permission to manage that investment, which can be unlimited or limited based on the situation. The court may withdraw or restrict this permission when justified, without prejudice to any rights acquired by a bona fide third party.

• Meet the UAE women showcasing Arab craft, values of peace through jewellery making