A JV or Consortium company is one in which the ownership pattern is confidential and not exposed to the public.
Here, two or more partners agree to split the profits or losses of one or more commercial enterprises which will be carried out in the name of one of the partners only. No special licenses are issued to the company or companies, and the original license issued in the name of one partner will be used by all the companies operated by the partners.
The name of the company(ies) may not be entered in the commercial register or disclosed to the public. However, the partners involved may sign an agreement and have it attested by a Notary Public. Vendors who may have any dispute can only deal with the partners they are concerned with. However, if for some reason, all the partners are named in public, then they are all equally liable to Vendors and third parties.
General note: There may be slight variations in the Terms & Conditions for setting up the company in Dubai, as against rest of UAE. Please consult CSU for more details.