Opening Company – DWC

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  • #6350

    a. Can you please share the terms and conditions associated with the resident visa?

    b. Will this nbe a ‘private limited’ company?

    c. How many Directors are needed?

    d. Is it okay if we need only one resident visa to begin with?

    e. Is there any minimum capital requirement?

    f. how does the capital structure work? Will we issue shares of a certain value (or at par)?

    g. Which would be the preferred bank?

    h. Does that mean that in the first two years the company needs no filings with the government?

    i. What are the ither corporate / statutory compliances needed? Is there a list we can review pls?

    j. How many signatories are required for the banking?

    k. The individual who will be the shareholder is a resident of India, 25yrs+, currently staying in USA (studying). So ill the proof of home be needed for USA for India or both?

    l. The 6 month bank statements are needed for which country?

    #6351

    ..

    #6355

    a. Can you please share the terms and conditions associated with the resident visa?

    1. Visa will be for 3 years. 2. You must come to the UAE every 6 months at least for a day. 3. Visa allows taking home here on rent, driving licence and all facilities.

    b. Will this be a ‘private limited’ company?

    There is no concept of a PVT LTD in UAE it is called XXXXXXXX DWC LLC. The status is that of a private limited free zone company limited by shares.

    c. How many Directors are needed?- One. Although there is no formal board as such.

    d. Is it okay if we need only one resident visa to begin with? Yes allowed.

    e. Is there any minimum capital requirement? – Yes 50,000 AED. But no need to show proof. Just declare.

    f. how does the capital structure work? Will we issue shares of a certain value (or at par)? You don’t need to do anything. It will be mentioned in MOA by DWC authorities.

    g. Which would be the preferred bank?- Noor Bank, ENBD, FAB , RAK Bank.

    h. Does that mean that in the first two years the company needs no filings with the government? Only annual renewal of the trade licence.

    i. What are the ither corporate / statutory compliances needed? Is there a list we can review pls? There are no compliance except renewal and audit report.

    j. How many signatories are required for the banking? One at least.

    k. The individual who will be the shareholder is a resident of India, 25yrs+, currently staying in USA (studying). So ill the proof of home be needed for USA for India or both? India

    l. The 6 month bank statements are needed for which country? India

    July 25, 2019 at 6:02 pm #6351

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