DMCC Requirement 0.2A COMPANY FORMATION -- APPLICATION FOR A NEW COMPANY

Transcription

1 DMCC Requirement 0.2A COMPANY FORMATION -- APPLICATION FOR A NEW COMPANY This form is intended to clarify submission requirements and does not need to be submitted to DMCC. Policy DMCC Authority reserves the right to request additional documents at any stage of the Application process. DMCC gives Applicants 6 weeks from initial approval, to submit ALL documents. Failure to comply will result in the cancellation of the application. Applications received with incomplete information/documentation will be returned or not accepted, until all requirements are fulfilled. No refund will be possible at any stage of your Application with us. SERVICE TO SELECT ON DMCC MEMBER PORTAL Fill in the application online at contact us at , or [email protected] Required Stage 1 (Pre-Approval): Forms generated from DMCC Portal for upload Know Your Client (KYC) form for each Shareholder/ Director/ Manager/ Secretary/ Business Plan Letter of No Objection from existing Sponsor for each Shareholder/ Director/ Manager/ Secretary/ This is a pre-populated form that is generated by the DMCC portal for each individual holding an official role in the Company Check DMCC Allowed Activity List under to check if a business plan is required. Applies only if holding UAE visa from another Sponsor. Copy accepted if on company letterhead, signed and stamped. Passports of all proposed company Shareholders/ Directors/ Manager/ Secretary/ Legal Representatives with UAE visa page Visa page only applicable for UAE residents. Copies of the passport & visa if applicable. Copy of the Emirates ID is required.

2 Proof of permanent residential address of each Shareholder/ Director/ Manager/ Secretary/ Consultant s Appointment Letter Power of Attorney Payment for Name Reservation A recent utility bill (or similar) not older than 6 months showing full residential address (PO Box not accepted). In case the individual is not the landlord, a confirmation letter signed by the landlord is required along with the passport copy OR a letter from your Bankers confirming your residential address. Mandatory - If a consultant is acting on the company s behalf. If a consultant or third party have been given a POA. Original to be sighted by DMCC Member Service Executive AED 1000/- (non-refundable) To be paid by Credit Card on Portal or at our Cashier, directly after obtaining an Account Number, which is system generated or by bank transfer. Pre-approval can take anywhere from 7 working days to 1 month (in special circumstances). New proposed Company name shall be reserved by DMCC (after approval) valid for 60 days from date of confirmation. Stage 2 (Registration): Specimen signature form for each Shareholder/Director/ Manager/ Secretary/ Passports of all proposed company Shareholders/ Directors/ Manager/ Secretary/ Legal Representatives with UAE visa page Shareholders Resolution Signed in the presence of a DMCC Member Service Executive or duly Notarized in Home Country. Visa page only applicable for UAE residents. Original to be sighted by the DMCC Executive or Notarized in Home Country. Generated by the DMCC Portal and to be signed in the presence of a DMCC Member Services Executive or Notarized and Attested by the UAE Embassy in Home Country or Apostilled.. Note: You may use your own template but must add/cover all key points of the DMCC Template.

3 Memorandum & Articles of Association Undertaking Letter to comply with DMCC s requirements 3rd party approvals from relevant Authorities Auditor Appointment letter Payment Generated by the DMCC Portal and to be signed in the presence of a DMCC Member Service Executive or notarized in Home Country. Note: if Financial Year is to be edited please highlight this to your Executive. Generated by the DMCC Portal for license Manager to sign and upload. Applies for certain activities. Refer to List of Authorities (3rd Party NOCs) on DMCC website. Note: This is chargeable at AED 260/- per letter Optional Contact DMCC (non-refundable).the payment will be calculated by the DMCC portal based on your selections. OUTPUT Upon submission of Stage 2 requirements:! DMCC shall issue the Provisional Approval and Bank letter Note: The provisional approval letter is required to sign a lease Agreement. Stage 3 (Licensing):

4 A. Leased Property Valid property Lease Agreement covering the license validity period and Evidence of Property Ownership either a Title Deed (original to be sighted) or current dated Certificate of Ownership OR DMCC Flexi Desk Office Contract (subject to Approval) Tenancy agreement to be in the exact same reserved company name, to be current-dated and valid for at least one year from the date of submission and must mention the size/area and location of the office. If property is a joint purchase; both owners must sign lease agreement. B. Owned Property Under the Same DMCC Company Name Evidence of Property Ownership either a Title Deed (original to be sighted) or current dated Certificate of Ownership Certificate of Conformity (COC) & Stamped unit fit- out drawings issued by Concordia DMCC If owned property, the Title Deed or the current dated Certificate of Ownership must be under the exact same DMCC company name. Applies for Retail DMCC Towers and industrial activities only. Contact (Tel ). Bank Share Capital Deposit Confirmation Letter If the share capital is AED 500,000 and above. OUTPUT Upon completion of Stage 3 requirements, DMCC shall:! Issue the Company License! Issue the Memorandum & Articles of Association (MOA)! Issue the Share Certificate(s)! Issue the Certificate of Registration! Issue the Personnel Secondment Agreement Release quota for 1 visa (until completion of office fit-out) Stage 4 (After Receiving the License): Certificate of Conformity from Concordia Not applicable for Flexi Desk or Serviced Offices

5 Bank Share Capital Deposit Letter or Bank Statement reflecting the deposited amount Within 3 weeks from Licensing. Not applicable for branch companies Sample Company Letterhead with stamp Share Certificate/s with company stamp Letter appointing External Auditor Personnel Secondment Agreement X2 With new DMCC company name. All copies. Not applicable for branch companies On auditor company letterhead. To be initialled, signed and returned to DMCC. DMCC will stamp and return the 1 st set. For Further Information: Please visit our website at or contact [email protected]