GENERAL INFORMATION

Total area – 83,600 sq km
Population – 9,270,000
Political status – Monarchy

Capital – Abu Dhabi
Official language – Arabian
Official currency – UAE Dirham (AED)
Time zone – GMT + 4

 

Basic Information
1. Political Stability1. Good
2. British Based Legal System2.Yes
3. Type of Company3. IBC
4. Migration of Domicile Permitted4. Yes
5. Tax by Jurisdiction on Offshore Profits5. Nil
Corporate Requirements
1. Minimum Number of Shareholders
1. One
2. Minimum Number of Directors
2. One
3. Corporate Directors Permitted
3. Yes
4. Secretary Required
4. Yes
5. Standard Authorised Capital
5. N/A
6. Bearer Shares Permitted6. Yes (*L)
Local Requirements​
1. Registered Office/ Registered Agent
1. Yes
2. Company Secretary
2. Yes
3. Local Directors
3. No
4. Local Meetings
4. No
Due Diligence / Disclosure
1. Due Diligence Required
1. Yes
2. Disclosure of Beneficial Owner on Public File
2. No
3. Government Filing of Register of Directors/Secretary
3. Yes
4. Government Filing of Register of Shareholders
4. Yes
Annual Requirements
1. Annual Return
1. No
2. Audited Accounts
2. No
Shelf Companies AvailableNo
Days to Incorporate Companies on Request (Approx.)3-5
Tax Treaties AccessNo

*L – Tax advice required in relation to issues on federal tax and tax forms reporting requirements

 

Notes:

  • The UAE are not known in the world as a tax-free jurisdiction and are not on ‘blacklists’ of any country. A company from the UAE appears prestigious and does not bear an image of a tax-free instrument, as the UAE is an internationally known trade jurisdiction.
  • Another option is to open a bank account in the UAE. However, it should be noted that UAE banks treat the shareholder rather that the director as the main representative of the company. Accordingly, if the client plans to open a bank account in the UAE, he or his representative should be appointed as a shareholder of the company for the purpose of the account opening procedures with the UAE bank and further management of that account.
  • The UAE are not a member of the Hague Convention. Accordingly, documents are not certified with the Apostille. Therefore, in order to use the company outside the UAE, it is possible to order further legalization of the required documents with the UAE Ministry of Foreign Affairs, with further certification of the documents with the Ministry of Foreign Affairs in the country of use or with the consulate of that country in the UAE. Consular legalization of the UAE is relatively expensive in comparison to that of other countries.
  • Since 2016, The Ras al Khaimakh ICC Business Companies Regulations 2016 are applicable. These companies registered in the emirate of Ras al Khaimakh and not operating any business in the territory of the UAE are exempt from taxes in full.

 

Contact us

Igoumenitsas 12,
CONNECTEDSKY HOUSE, P.C. 2027,
Strovolos, Nicosia, Cyprus

Tel:
70003517 in Cyprus
+357 22258800 from abroad

Fax:
+357 22258801

Email: info@connectedsky.com