Summary of Requirements for a Dubai Offshore Company
General Information | |
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Type of Company | IBC – Offshore Company |
Timescale to incorporate | 8 – 10 working days |
Corporate Taxation | Nil |
Directors | |
Minimum No. Required | 2, Corporate Directors are not permitted |
Local Director Required | No |
Publicly accessible information | No public disclosure of information |
Location of Meetings | Anywhere |
Shareholders | |
Minimum No. Required | 1, 100% foreign shareholders allowed |
Publicly accessible information | No public disclosure of information |
Location of Meetings | Anywhere |
Company Secretary | |
Required | Yes |
Local Secretary Required | N/A |
Registered Office / Agent Required | Yes |
Share Capital | |
Standard Currency | AED (exchange rate approx. 1 USD = 3.67 AED) |
Standard Authorised | AED 10,000 (10 shares of 1,000 AED recommended) |
Minimum Paid Up Capital | No minimum capital stipulated although a capital of 1,000 AED is recommended |
Accounting & Compliance | |
Requirements to prepare Accounts | Yes , filed at the Registered Office but not filed at any Government Office |
Requirement to file Accounts | No |
Requirement for Audit | An Auditor must be appointed who will examine and report on the Accounts however the Audit is not required to be filed with any Government Authority. |
Local Auditor Required | N/A |
Requirement to file Annual Return | No |
Additional Information | |
Bank Account Opening | Bank Accounts can be opened in a number of international banks. A personal visit is required however banks can take a long time to open the account depending on the amount of due diligence required. Eltoma will provide additional information based on business activity and client requirements. |