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.
Key Corporate Features & Requirements
General
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Type of company: Limited
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Type of law: Common / Civil
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Shelf Companies Available: No
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Time to establish a new company: 3-4 days
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Corporate taxation: Nil
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Double taxation treaty access: Yes
Share capital or equivalent
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Standard currency: AED,USD
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Permitted currencies: Any
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Minimum paid up: Fully Paid
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Usually authorized capital: AED1,000
Directors or Managers
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Minimum number: One
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Local required: No
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Publicly accessible records: No
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Location of meetings: Anywhere
Members
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Minimum number: One
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Publicly accessible records: No
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Location of meetings: Anywhere
Company Secretary
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Required: Yes
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Local or qualified: Yes
Accounts
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Requirement to prepare: No
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Audit requirements: No
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Requirement to file accounts: No
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Publicly accessible accounts: No
Other
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Requirement to file annual return: No
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Change in domicile permitted: Yes
Are you interested in setting up a company in The United Arab Emirates? Then contact us by filling in the form below.