Formation of International Corporate Centre (ICC) in Dubai

Company Name 
Dubai 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 
A RAK ICC can have a minimum of one shareholder and there is no limitation on the maximum. 100% foreign ownership of the company is allowed. Corporate shareholders are permitted. Shareholders meetings should be held at least once a year and every RAK ICC company shall take minutes of all proceedings at general meetings. 

Share Capital 
No minimum capital is required to be paid. Share capital stated in corporate documents is necessary, a minimum of AED 10,000 is recommended (standard capital is AED 100,000). Bearer shares are not allowed. Share certificates for registered shares can be issued any time for all shares or partially. 

Directors And Secretary 
A minimum of one director is required and corporate directors are permitted. A register of directors must be held at the Registered Office, but it is not a matter of public record. The number of directors can be fixed in the Memorandum and Articles of Association. Any shareholder may be appointed as a director and/or secretary. A resident secretary is not mandatory. 

Registered Office And Local Agent 
A Dubai 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. 

Meetings 
Dubai company meetings need not be held in Dubai. 

Incorporation Time 
10 business days. 

Taxation 
Dubai companies pay no taxes on profit, capital gains or anything else in Dubai. 

Audit And Financial Returns 
Accounts or audited accounts are not required to be filed with the Authority. A RAK ICC shall keep accounts and records the directors may consider necessary in order to reflect the financial position of the company.