Regulation Of Company Formation in Dubai
Director and Secretary
The minimum requirement of one director is essential and it can also be a corporate director. At the registered office, a register of directors must be maintained but not necessarily a public record. In the MOA and AOA, the number of directors can be fixed. The director or/and secretary can be any one of the shareholders. It is essential to have a secretary and corporate secretaries are allowed.
There is no upper limit for the number of shareholders, though the RAK non native company can have a least number of one shareholder. The entire ownership of a company can be of foreign possession. The shareholders of a company can be corporate also. The meetings of the shareholders must be conducted a minimum of once in a year and the minutes of every action at the general meeting should be taken by every RAK offshore company.
The office of the company should be registered locally so that the official documents of the company can be handed out, which is essential for every RAK company. The enrolled office must be a physical address in the UAE. The company incorporation package offered by AbroadBiz includes all the services mentioned including the local office registration.
Share Capital Requirements
- There is no precondition for the minimum amount of share capital.
- There is no least amount of share par value.
- The share capital of the company can be declared in any currency.
The meetings of the Dubai offshore company is not required to be conducted in Dubai.
Annual Audit and Financial Return requirements
There is no definite rule to file the audited accounts with the authority. The accounts and records are kept by the directors merely only to reflect their financial position of the company.