If an offshore company wishes to manner trade or other business in the Zone or in another place United Arab Emirates, it must obtain the right license to conduct the trade or other business action from the competent authorities such as by forming FZE/FZC or limited Responsibility Company in which the offshore company can be a depositor. A director of an offshore company who has directly or indirectly, an interest in a transaction entered into or future to be entered into by the offshore company or by a ancillary of the offshore company which to a material level conflicts or may conflict with the welfare of the offshore company and of which he is aware, shall reveal to the offshore company the nature and amount of his interest. This could be done for each contract or by way of general notice of discovery of interest It shall not be lawful for an offshore company to make a advance to any director or to enter into any assurance or provide any security in connection with a loan made to a director without the permission of members holding not less than 90 per cent in titular value of the shares giving a right to attend and vote at any assembling of members.
Every offshore company shall in each year hold a universal meeting in addition to any other meetings in that year but so elongated as an offshore company holds its first general gathering within 18 months of its incorporation, it need not clasp it in the year of its incorporation or in the following year. If a meeting is called by shorter observe it is deemed to have been duly called if it so decided by a majority in number of the members having a exact to attend and vote at the meeting, being a bulk together holding not less than 95 per cent in nominal price of the shares giving a right to attend and vote at the meeting.
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Every offshore company shall in each year hold a universal meeting in addition to any other meetings in that year but so elongated as an offshore company holds its first general gathering within 18 months of its incorporation, it need not clasp it in the year of its incorporation or in the following year. If a meeting is called by shorter observe it is deemed to have been duly called if it so decided by a majority in number of the members having a exact to attend and vote at the meeting, being a bulk together holding not less than 95 per cent in nominal price of the shares giving a right to attend and vote at the meeting.
Our Services:Company Formation Dubai|Offshore Company Formation|Intellectual Property|Outsourcing Services|Hospitality Services|Trade Services|IT Services|Healthcare Services|Logistics Services|Financial Services|Accounting Services|Immigration Services
