ADAM Business Advisors is a British owned, Dubai based Business Services Firm established since 2002. The combined experience of our management team is over a hundred years with wide-ranging activities in Europe, Middle East and Asia and a personal entrepreneurial perspective that can be your competitive edge. By working with us, you will quickly discover our ethics of service quality and attention to detail.
Our Directors qualifications from The Institute of Directors, a UK-based organization, incorporated by royal charter in 1903 to support, represent and set standards for company directors.
Fundamental to our business development strategy, is our continuing focus and commitment to providing highly relevant cost-effective business solutions. In support of those solutions we provide consultancy, business investment advice and corporate finance service.
Our clients range from large, multi-million dollar firms to entrepreneur individuals relocating to Dubai. We enjoy a proven reputation of trust and efficiency, because we conduct our business dealings in a consistent and professional manner. This will be evident to you from your very first phone call.
We are fully authorised, registered Free Zones Specialist Agents and have successfully advised individuals and multinational businesses to establish in UAE Free Zones. We eliminate red tape by providing a comprehensive and efficient service to establish Real Estate Investments, Technical, Contracting, Manufacturing and Trading companies in Dubai, Abu Dhabi, Sharjah, Ajman, Ras Al Khaimah & Fujairah. Our world renowned Business Incubation Program offers Joint Ventures to businesses looking to explore the Middle East market without risk and without incurring huge setup costs.
Our multilingual specialist consultants communicate in seven languages.
Legal form
Federal Law No. 8 of 1984, as amended by Federal Law No. 13 of 1988 - the Commercial Companies Law - and its by-laws govern the operations of foreign business. In broad terms the provisions of these regulations are as follows: The Federal Law stipulates a total local equity of not less than 51% in any commercial company and defines seven categories of business organization, which can be established in the UAE. It sets out the requirements in terms of shareholders, directors, minimum capital levels and incorporation procedures. The seven categories of business organization defined by the Law are: General partnership company, Partnership-en-commendam, Joint venture company, Public shareholding company, Private shareholding company, Limited liability company, Share partnership company. By far the most usual form that businessmen and/or corporations prefer is the limited liability company.
The legislation, which governs Dubai Offshore Companies, was enacted in Jebel Ali Free Zone (Jafza) in Dubai in May 2003. It provides for a secure environment for investors without the levels of unnecessary intrusion and bureaucracy found in other offshore jurisdictions.
Name of the company
Dubai offshore companies must use the suffix Limited or Ltd. to denote limited liability. The following words and their associated activities are prohibited: Banking, Insurance and Re-insurance.
Shareholders
Dubai offshore company can have minimum one and a maximum of 50 persons whose liability is limited to their shares in the company's capital. 100% foreign ownership of the company is allowed. There is no public register of shareholders and directors. Shareholders need to visit Jafza and sign the incorporation documents in the presence of the authorized official of Jafza. Alternatively a power of attorney, notarized and legalized by UAE Embassy, can be issued to a nominated person who can then sign before Jafza authorized official.
The minimum share capital
Dubai offshore company can select its own minimum capital. Usually we recommend share capital to be US Dollars 1,000. All shares must be fully paid when allotted. A company may not create different classes of shares. Bearer shares cannot be issued. Presently, joint shareholding is not allowed.
Directors of the company and secretary
A minimum of two directors and one secretary are required and they cannot be bodies corporate. One of the directors can also be a secretary. A register of directors must be held at the Registered Office, but it is not a matter of public record.
Registered office and local agent
Dubai offshore company must maintain a local Registered Agent approved by the local authorities and a local Registered Office, which is usually provided by the Registered Agent.
Taxation
Dubai offshore companies pay no taxes on profit, capital gains or anything else in Dubai.
Audit and financial returns
No annual reports or accounts need to be filed. Accounts must be audited and accounts must be distributed to shareholders (but NOT filed with the authorities). Dubai offshore company may retain their accounting records wherever in the world the directors deem appropriate.
Meetings
Dubai offshore company meetings need not be held in Dubai.
Time needed for formation
Usually it is 5-7 working days.
Kind Regards
Mohammed Faisal
Administrative Coordinator
Suite No. 12, The Iridium, Al Barsha,
P.O.Box: 183827, Dubai, U.A.E.
Phone: +971 4 341 9701 Ext: 146
Fax: +971 4 341 9702
Mobile: +971 55 2419200
Email: faisal@adamadvisors.com
Web: www.dbamc.com
ISO 9001:2008 NO: ME/08/1147
Paralegal Services International trading as ADAM Advisors
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