UAE (United Arab Emirates)

United Arab Emirates

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 or auditing
  • no taxation information exchange agreements with other countries
  • no public record of directors and shareholders
  • 100% foreign ownership allowed
  • highly flexible and confidential banking system geared to the requirements of high net worth international investors
  • strong legislation which protects the confidentiality of investors
  • the client is not required to visit UAE to incorporate the company

Type of the company – International Business Company (IBC)

NOTE: IBC can only have customers and suppliers outside UAE

Shareholders – minimum one. Corporate Shareholder is permitted. Not listed in a public register.
Par value of each share must be AED 1000. Bearer shares are permitted.

Directors – minimum one director (corporate director’s allowed). Not listed in a public register.
A local registered office is required.

To commence company incorporation, the following supporting documents are required; unless otherwise indicated COPIES are acceptable:

Natural person shareholder/s:
1. Passport copy (with UAE entry stamp if memorandum is signed in the UAE, notarized when sending from abroad)
2. 2 different types of proof of address (a utility bill, bank statement, less than 3 months old certified translation)
3.Bank statement (less than 3 months old)
4. Bank reference letter (less than 2 months old)
5. Curriculum vitae
6. Signed forms
7. Name suggestions (2-3)
8. Payment to EURO COMMERCE LLC bank account

Corporate shareholder/s:
1. Certificate of Incorporation (CoI)
2. Certificate of Good Standing (CoGS) or Certificate of Incumbency (CoINC) less than 5 months old
3. Memorandum & Articles of Association (MoA&AoA )
4. Board resolution calling for the establishment of an International Company specifying the person entitled to sign the MoA & AoA (notarized),
5. Passport copy of directors
6. Passport copy of person entitled to sign the MoA&AoA & appoint reg agent (with UAE entry stamp if signed in the UAE)
7. Bank reference letter, if available; Instead: (1) CoI, COGS/CoINC, MoA&AoA, of all entities up to the UBOs + reference letter of a BANK in respect of the UBOs + and (2), if ultimately held by a trust or foundation, a notarized document is needed showing the UBO’s (>25% ownership)