Dubai – UAE

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Dubai is an emirate within the United Arab Emirates, UAE. A city within the emirate is also named Dubai. The emirate is located south east of the Persian Gulf on the Arabian Peninsular and has the largest population with the second-largest land territory by area of all the emirates, after Abu Dhabi. Dubai and Abu Dhabi are the only two emirates to have veto power over critical matters of national importance in the country’s legislature. Dubai City is located on the emirate’s northern coastline.

Today, Dubai City has emerged as a global city and an international business hub. Although Dubai’s economy was built on the oil industry the emirate’s model of business drives its economy, with the effect that its main revenues are now from tourism, real estate, and financial services, similar to that of Western countries. Dubai has recently attracted world attention through many innovative large construction projects and sports events.

Incorporation

Type of company: Private (IBC).

Who can incorporate: local licensed agent

Time to incorporate: 10 to 12 working days

Registration fee: US$681

Shelf company availability: Available

Taxation: Not applicable

Minimum annual government fee: US$2725

Disclosure of beneficial owner: No public disclosure of information. Shareholder and Director details are provided to the Registry

Bearer shares: Not permitted

Standard minimum paid up: None

Standard authorised capital: None

Permitted currency of capital: AED

Minimum number of shareholders: One

Minimum number of directors: One

Corporate directors: Not Permitted

Local directors: Not Required

Company secretary: Required, may be the same person/company as the Director

Company seal: Optional

Public record of directors & shareholders: No

Location of directors and shareholders meeting: Anywhere

Telephone board meeting: Yes

Access to Double Tax Treaty: Yes, double taxation agreements are in place with a large number of countries like France, India, Pakistan, China, Germany, Italy, Singapore etc.

Requirement to file account: No

Requirement to keep account: Yes

Requirement to file annual return: No

Change in domicile: Not allowed

Local registered office address: Yes

Data Sheet

Dubai Data Sheet – Summary

Type of companyIBC
Common or civil law jurisdictionsCivil law
Shelf company availabilityYes
Time to incorporate10 to 12 working days
Min. annual duty or franchise feeNo
Annual return filling feeNil
TaxationNil
Disclosure of beneficial ownershipNo public disclosure of information
Bearer sharesNot allowed
Standard minimum paid up capitalNone
Standard authorised share capitalNone
Permitted currency of capitalAED
Minimum number of shareholders2
Minimum numbers of directors1
Corporate directorsNot permitted
Local directorsNot required
Company secretaryRequired
Company sealOptional
Public record of directorsNo
Public record of shareholdersNo
Location of directors meetingAny where
Location of shareholders meetingAny where
Telephone board meetingYes
Access to Double taxation treatyYes but double taxation are in place with a large number of countries like France, India, Pakistan, China, Germany, Italy, Singapore etc
Requirement to file accountNo
Requirement to keep accountYes
Requirement to file annual returnNo requirement to file annual return
Change in domicileNot allowed
Local registered addressYes
Who can incorporate?Licensed local registered agent

Banking Options

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