Real Estate LLC Operating Agreement Template for United Arab Emirates

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Key Requirements PROMPT example:

Real Estate LLC Operating Agreement

"I need a Real Estate LLC Operating Agreement for a new Dubai-based property management company starting operations in March 2025, with three individual shareholders and specific provisions for both residential and commercial property management services."

Document background
The Real Estate LLC Operating Agreement serves as the foundational document for establishing and operating a real estate-focused limited liability company in the United Arab Emirates. This document is essential when forming a new real estate LLC or restructuring an existing one, providing comprehensive governance and operational guidelines while ensuring compliance with UAE Federal Law No. 32 of 2021 (Commercial Companies Law) and relevant real estate regulations. It addresses crucial aspects including capital structure, management framework, property operations, regulatory compliance, and member rights, while incorporating specific requirements for real estate activities such as property management, development, or brokerage. The agreement is particularly important given the UAE's dynamic real estate market and strict regulatory environment, requiring careful consideration of both corporate and real estate-specific legal requirements.
Suggested Sections

1. Parties: Identification of all members/shareholders of the LLC

2. Background: Context of the agreement formation and company establishment

3. Definitions and Interpretation: Key terms used throughout the agreement and interpretation rules

4. Formation and Name: Details of company formation, trade name, and registration requirements

5. Purpose and Powers: Company's real estate focused business objectives and permitted activities

6. Principal Place of Business: Registered office and branch locations

7. Term: Duration of the LLC and conditions for continuation

8. Capital Structure: Share capital, contribution requirements, and capital increase provisions

9. Members' Rights and Obligations: Rights, responsibilities, and obligations of LLC members

10. Management Structure: Governance framework, manager appointments, and decision-making processes

11. Real Estate Operations: Specific provisions for real estate activities and licensing requirements

12. Financial Matters: Financial management, accounts, auditing, and distribution policies

13. Transfer of Shares: Share transfer restrictions and procedures

14. Exit Provisions: Member withdrawal, buy-out procedures, and valuation methods

15. Regulatory Compliance: Compliance with UAE real estate and corporate laws

16. Dissolution and Liquidation: Procedures for company dissolution and asset distribution

17. General Provisions: Miscellaneous legal provisions including notices, amendments, and governing law

Optional Sections

1. Property Management Services: Include when the LLC will provide property management services

2. Development Projects: Include when the LLC will engage in real estate development

3. International Operations: Include for companies planning to operate in multiple jurisdictions

4. Shariah Compliance: Include for Islamic-compliant real estate operations

5. Franchise Operations: Include if operating as part of a real estate franchise network

6. Joint Venture Provisions: Include when the LLC is part of a joint venture structure

7. Intellectual Property: Include when the LLC owns or licenses significant IP assets

8. Employee Profit Sharing: Include if implementing employee ownership programs

Suggested Schedules

1. Schedule 1: Members' Information: Detailed information about members, including share ownership and contact details

2. Schedule 2: Initial Business Plan: Detailed business strategy and operational plans

3. Schedule 3: Capital Contributions: Specific details of initial and planned capital contributions

4. Schedule 4: Property Portfolio: List of properties owned or managed by the LLC

5. Schedule 5: Management Structure: Detailed organizational structure and management responsibilities

6. Schedule 6: Financial Procedures: Detailed financial management and reporting procedures

7. Schedule 7: Regulatory Licenses: List of required licenses and permits

8. Appendix A: Share Transfer Forms: Standard forms for share transfers

9. Appendix B: Power of Attorney Templates: Standard POA forms for company operations

10. Appendix C: Key Performance Indicators: Metrics for evaluating company and management performance

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions
Clauses
Relevant Industries

Real Estate Development

Property Management

Commercial Real Estate

Residential Real Estate

Real Estate Investment

Property Leasing

Construction

Facilities Management

Real Estate Brokerage

Real Estate Advisory

Property Technology

Real Estate Finance

Relevant Teams

Legal

Compliance

Corporate Governance

Real Estate Operations

Property Management

Finance

Risk Management

Business Development

Asset Management

Investment

Board of Directors

Executive Management

Shareholder Relations

Corporate Services

Relevant Roles

CEO

Managing Director

Real Estate Director

Property Manager

Legal Counsel

Compliance Officer

Company Secretary

Chief Financial Officer

Operations Director

Business Development Manager

Asset Manager

Facilities Manager

Real Estate Investment Manager

Board Member

Shareholder Relations Manager

Risk Management Officer

Corporate Governance Officer

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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