Public Joint Stock Company Formation In Dubai, UAE

Category: Services
Sub Category: Lawyers & Advocates
Ad Type: Offered Ads
Price: 0
City: Al Nahda
Active Till 12-May-2018
Phone No: +971-589827842
Public Joint Stock Company formation in Dubai, UAE
Public Joint Stock Company formation in Dubai, UAE:
Public Joint Stock Company formation in Dubai, UAE:
An organization whose capital is divided into equal shares and a partner there in might be legally responsible only to the extent of his share in the capital of the company.
According to the Commercial Companies Law at least share capital of AED 10 million is requiring for a Public Joint Stock Company UAE. Minimum 25% of share capital of PJSC Dubai must be build up on subscription. In addition, 51% of shares of PJSC Dubai must be hold by the UAE nationals and a minimum 55% of shares of Public Joint Stock Company UAE must be open to the general public.
Conditions:
• The board chairman, as well as a majority of the board member must be UAE nationals.
• Founding member will not be less than 10 members.
• The Board of Directors must be minimum 3 members and shall not beyond 12 members.
• UAE organizations including banking, investment of funds or insurance on behalf of third parties must take the form of a public joint stock company.
• Finding the approval of the Managerial Council, prior to the issuance of the Initial approval. And after the approval of the trade name
• Share capital of this type of a company shall not be less than AED 10 Million.
• All documents will be in Arabic.
• The age of the partners must be minimum 21 years.
• The License Application Form shall be giving in to by the concerned partners.
• All the documents must have an electronic copy and the originals will be requires for verification.
Basic rights of shareholders:
• Shareholder in a PJSC has the right to vote in the annual general assembly in the election of directors.
• Shareholders have the right to share in the profits of the company.
• Shareholders have the right to transfer their shares.
Required Documents for PJSC:
• An application forms.
• Copies UAE ID Cards of Partners.
• passport copies of partners.
• Original certificate of Initial Approval.
• Original trade name reservation
• Family book copy of UAE citizens.
• Copy of lease contract.
• A copy of the signatures duly certified by the Notary Public.
• A copy of the trade license or commercial register if the shareholder is legal entity.
• The approval from the Ministry of Economy.
• Copy of the Memorandum of Association (MOA)
• An approved photo copy of the trade name sign board.
• An approval from the Executive Council to setup this company.
• No objection letter from the capable authorities
• A certificate from one of the banks to shows that the share capital has been deposited for PJSC Dubai.
• A copy of the registration certificate from the Ministry of Economy.
For more information contact: 00971589827842 or visit: http://www.mszconsultancy.com

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