Company administration guidelines
- There is no minimum share capital requirement.
- Bearer shares are permitted. Par value of each share must be AED 1,000. Different classes of shares are permitted and shares have to be fully paid when allotted.
- A minimum of one shareholder is required and Corporate Shareholders are permitted. Shareholders decide the capital structure of the company.
- 100% foreign ownership is permitted
- A minimum of one director is required and corporate directors are permitted.
- Details of directors are not available for public inspection.
Restrictions on Name & Activity:
- RAK Offshore Company names must end with Limited or Incorporated
- The following names and their associations cannot be used; Assurance, Bank, Building Society, Chartered, Imperial, Insurance, Trust
- Every Offshore Company in RAK has to have a registered office in RAK which is used as the business address of the company
- It is obligatory to have a secretary for a RAK Offshore Company.
- RAK Offshore Companies offer complete privacy and confidentiality, owners of IBC’s are kept confidential under law
Key amendments to the Singapore Companies Act
Significant changes to the commercial and company law in Singapore have come into effect. The changes to the Singapore Companies Act will hopefully make business entities more transparent as well as mitigating the risks of money laundering and terrorist financing.
Panama Law 52: Updated legislation for all legal entities
Last month the Government in Panama officially approved Law Number 52; legislation which creates the regulatory framework for the implementation regarding automatically exchanging tax information, in a further attempt to comply with global regulations for tax transparency, and to be fully in line with all supervisory and compliance matters.
Important 2016 reporting deadlines for BVI Financial Institutions
Officials from the British Virgin Islands have come together to clarify various filing deadlines as per the automatic exchange of information systems in a press release.
Thinking of relocating your business to Singapore? Let us help you!
Singapore has quickly become one of the world's most prosperous countries with strong international trading links and per capita GDP equal to that of the leading nations in Western Europe, making it an ideal destination and potential location for Business Owners to relocate and start a new business and lifestyle.
How to register a branch in Cyprus
Overseas companies may register a branch in Cyprus, according to the Companies Law, Chapter 113, regulated by section 347. A branch will not essentially consider as being a new legal entity in Cyprus.
To Brexit or not to Brexit?
To Brexit or not to Brexit - this has been the question of the year for Britain and with the referendum taking place imminently, just two options remain: leave the EU or stay in. Why has this been such a difficult decision to decide upon?
Selecting a Management Information System
A management information system or MIS is used to assist in the analyses and formulation of business strategy, as well as facilitating operational objectives. Selection of an MIS can help increase understanding and control in an organisation and can be scaled to suit the complexity of most modern businesses. If the right MIS is selected and it is implemented correctly it can provide a competitive advantage for the organisations utilising it.
Windows 10 update: having issues with the installation?
By now you have probably about Windows 10, the latest operating system developed by Microsoft.