| General Information |
|---|
| 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. |
