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UAE RAK - IBC Formation Key Information

Updated time: Sep 25, 2018 , 17:03 (UTC+08:00)

UAE RAK - IBC

General
Type of Business Entity Private Limited by Shares (IBC/IC)
Type of Law Hybrid
Incorporation Time Frame (Approx.) 2 days
Corporate Taxation Nil
Double Tax Treaty Access No
Share Capital or Equivalent
Standard currency AED
Permitted currencies Any
Usual Minimum issued NA
Usual authorised 10,000 AED
Directors or Managers
Minimum Number 1
Local required No
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 annual return No
Publicly accessible accounts NA
Others
Eligibility for UAE Resident Visa No
Permitted Physical Office No
Doing business within UAE No
Business Licenses Required No

Documents required from customers

For each of your directors, shareholders and beneficial owners

  • A scanned copy in color of your passport that is valid for at least 6 months.
  • A scanned copy of proof of residency (utility bill, bank statement, …) dated within three months and must be in English or officially translated in English.


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