United Arab Emirates

United Arab Emirates

Since the mid-1960s, exploitation of oil and gas reserves has enabled the seven emirates of the UAE to achieve substantial economic growth. Economic activity centers on the development of a modern infrastructure including roads, ports, airports, telecommunications, electric utilities and desalination projects; the construction of residential and commercial facilities, schools, hospitals and hotels; and the establishment of petrochemical and manufacturing industries.

The UAE‘s dynamic economic environment and the economic diversification strategy, has been made possible due to the massive investment in the infrastructure comprising of efficient road networks, excellent telecommunications facilities and the links with the outside world through first-class ports, both sea and air, which are constantly being upgraded.

The benefits of an offshore company in the United Arab Emirates are that the state is white-listed, sovereign and an international platform for trading, consulting and commerce.

Key Corporate Features

General
Type of company:	Limited
Type of law:	Common / Civil
Shelf Companies Available:	No
Time to establish a new company:	3-4 days
Minimum government fees (excluding taxation):	US$545
Corporate taxation:	Nil
Double taxation treaty access:	Yes
Share capital or equivalent
Standard currency:	AED,USD
Permitted currencies:	Any
Minimum paid up:	Fully Paid
Usually authorized capital:	AED1,000
Directors or Managers
Minimum number:	One
Local required:	No
Publicly accessible records:	No
Location of meetings:	Anywhere
Members
Minimum number:	One
Publicly accessible records:	No
Location of meetings:	Anywhere
Company Secretary
Required:	Yes
Local or qualified:	Yes
Accounts
Requirement to prepare:	No
Audit requirements:	No
Requirement to file accounts:	No
Publicly accessible accounts:	No
Other
Requirement to file annual return:	No
Change in domicile permitted:	Yes