DOCs (Dubai Offshore Company) formation

Advantages of forming company in the UAE (United Arab Emirates):
- No taxes of any sort and no tax department (except for the oil producing Companies and branches of foreign banks)
- No filing of account
- No taxation information exchange agreements with other countries
- No public record of directors and shareholders
- Highly flexible and confidential banking system geared to the requirements of high net worth international investors
- Strong legislation which protects the confidentiality of investors.

International Business Company (IBC)
An international business company or international business corporation (IBC) is an offshore company formed under the laws of some jurisdictions as a tax-free company which is not permitted to engage in business within the jurisdiction it is incorporated in. IBCs are offshore companies that are most commonly used for offshore banking, to conduct international trade, investment activities, to offer professional services and for asset protection.

Name and company activities
The company name must not contain the following words and must not pursue with listed business activities: BANKING, INSURANCE and REINSURANCE.

Local requirements
The IBC company in RAKIA must maintain a local registered agents approved by the local authorities and a locale registered office which the registered agent provide.

Dubai taxes
There are NO corporate tax, personal tax, capital gains tax or VAT in the UAE with exception of oil producing companies and branches of foreign banks.
No taxation information exchange agreements with other countries.

Annual report – not required
Accounts must be audited and must be distributed to shareholders (but not filed). The accounting records may be retain wherever the directors choose.

List of Double Taxation Avoidance Agreements (Legislative References as at 19.4.2010)
Egypt, Algeria, Yemen, Tunisia, Morocco, Sudan, Syria, Lebanon, Mozambique, Pakistan, India, Sri Lanka, Philippine, Korea, Singapore, Indonesia, Thailand, Malaysia, China, New Zealand, Ukraine, Belarus, The Netherlands, Bulgaria, Turkmenistan, Armenia, Tajkistan, Mongolia, Azerbaijan, Austria, Poland, Germany, Finland, Italy, Czech, France, Belgium, Romania, Turkey, Luxemburg, Spain, Malta, Bosnia and Herzegovina, Seychelles, Mauritius, Canada, Uzbekistan

Shareholders and Directors
Minimum one. No public register, but the registered agent must retain a shareholder register at the registered office.

Directors – minimum one director (corporate director’s allowed). There is no public register of directors, but the registered agent must retain a register of directors at the registered office
Local registered office is required.

Minimum Capital
Arbitrarily determined by the company owners. Recommended – 100USD in 1USD shares
The documents could be notarized by a Notary Public Solicitor (“N”) or could be legalized or attested by a Ministry of Foreign Affairs in the country of the applicant and further stamped by the UAE OR Arab Embassy.

Annual report – not required. Accounts must be audited and must be distributed to shareholders (but not filed). The accounting records may be retain wherever the directors choose.

In order to start with the procedure please provide us the following documents:
 1.) Up to date clear passport copy
 2.) Proof of residence – utility bill, telephone bill, bank statement, driving license (the original)
 3.) CV
 4.) Bank reference letter (the original)
 5.) Name of the company (2-3 of your choice)
 6.) Payment to the bank account of EURO COMMERCE LLC

Time frame – 3 weeks

Fees:

*When the bank account is opened the client will be able to obtain the following facilities: corporate debit cards, i-banking facilities, fax and telephone banking and cheque book.

* For any additional informations contact us – CLICK HERE