LAVECO LTD.

Member of

Legal Solutions since 1991 International Tax Planning

Association

SHARJAH MEDIA CITY

SHAMS LLC
Sharjah,
United Arab Emirates

Information for 09/2017

end-users www.laveco.com
 LAVECO LTD.
Legal Solutions since 1991

CONTENTS

GENERAL INFORMATION 3

INCORPORATION DATASHEET 5

FEES 7
First year fees 7
Annual fees 7
Opening of a bank account in a local bank: 9
Additional services 9
Arrangement of residence visa/residence permit 11

OUR OFFICES AND REPRESENTATIVES 13

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assume no responsibility for any typing, setting or printing errors that may occur in the material.

LAVECO Marketing Ltd., Belize

Photocredits to: shutterstock.com, freepik.com, maphill.com

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 LAVECO LTD.
Legal Solutions since 1991

GENERAL INFORMATION
Form of State Constitutional monarchy
Area 235 km2
Population: 1,400,000 (2015)
Capital: Sharjah
Business language: Arabic (English is widely spoken)
Currency: UAE Dirham (AED, 1 USD=3.6 AED)
Location: Sharjah is located along the southern coast of the Persian Gulf on
the Arabian Peninsula.
Time zone: UTC +4

source: www.maphill.com

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Legal Solutions since 1991

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 LAVECO LTD.
Legal Solutions since 1991

INCORPORATION DATASHEET
Advantages The United Arab Emirates is an extremely attractive jurisdiction, with
a very good name. The advantages of the UAE include:
-- 0% corporate taxes
-- 0% personal income tax
-- 0% VAT
-- not a typical offshore jurisdiction; the tax free status of
Free Zones is based on cultural traditions
-- the company can open a bank account in the same jurisdiction
-- the company can have local office and employees
-- Free Zone Companies can obtain working visas for investors
and employees
-- easy to obtain a residency permit for investors
-- the full profit of the company can be repatriated
-- high prestige jurisdiction, accepted worldwide in the
business community
Disadvantages The United Arab Emirates is not a member of the Hague Convention
on international authentication, and, as such, the corporate docu-
ments can not be certified with Apostille. Having said that, it is pos-
sible to have corporate documents certified by foreign consulates or
by Apostille in other countries.

Method of The Memorandum and Articles of Association must be signed by the

incorporation / shareholder.
registration
Company legal form Private Limited Company by Shares
Company status Free Zone Company (FZC)

Source of corporate Emiri Decree Number 11 of 2017 establishing the Sharjah Media City
legislation Free Zone

Possible suffixes to LLC

company name

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 LAVECO LTD.
Legal Solutions since 1991

Time required for 2-3 days.

incorporation
Number of directors Minimum 1 of any nationality.
Number of Minimum one of any nationality; can be individuals or companies or
shareholders a combination of both.

Capitalisation Client doesnt need to show any paid up share capital but the share
capital total default value is AED 100,000.
Accounting / reporting Required but not Public.
requirements
Type of shares Registered.
Annual tax and duties Dependent upon the type of company.

Information publicly Registered Office and Registered Agent, Directors.

available
Disclosure of Not required for the Public Records.
beneficiaries
Registered office Local Registered Office required by law within the Free Zone.
Registered secretary / Local Registered Agent is not required by law.
agent
Double tax treaty United Arab Emirates has double tax treaties with the following coun-
tries: Algeria, Armenia, Austria, Azerbaijan, Belarus, Belgium, Bosnia
and Herzegovina, Bulgaria, Canada, China, Czech Republic, Egypt, Fin-
land, France, Germany, Hungary, India, Italy, Korea, Lebanon, Luxem-
burg, Malta, Malaysia, Mauritius, Mongolia, Morocco, Mozambique,
Netherlands, New Zealand, Pakistan, Philippines, Poland, Romania,
Seychelles, Singapore, Spain, Sri Lanka, Sudan, Syria, Tajikistan, Thai-
land, Turkey, Tunisia, Turkmenistan, Ukraine, Uzbekistan, Yemen.

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 LAVECO LTD.
Legal Solutions since 1991

INCORPORATION COST AND FEES OF SHAMS LLC

GOVERNMENT FEES
Facility Flexi Office Facility
License type Consultancy / Services or Commercial /
E-commerce
Legal Structure LLC
Ownership structure 100% owned by foreign shareholder
1 EUR in AED (current FX): 4,3
Trade License AED 11 500
Shared desk office facility AED 3 500
Establishment Card fee (inves- AED 1 500
tor/employee)
Additional Visa allocations AED 1 600
(cost per visa slot)
LAVECO SERVICE FEES
Service Fee 1st year 2 400
Service Fee 2nd year 1 900
Government Fee | 1st Year NO VISA SLOT AED 11 500
Government Fee | Renewal AED 11 500
TOTAL COST | 1st Year 5 074
TOTAL COST | Renewal 4 574
Government Fee | 1st Year 1 VISA SLOT AED 18 100
Government Fee | Renewal AED 16 600
TOTAL COST | 1st Year 6 609
TOTAL COST | Renewal 5 760
Government Fee | 1st Year 2 VISA SLOTS AED 19 700
Government Fee | Renewal AED 18 200
TOTAL COST | 1st Year 6 981
TOTAL COST | Renewal 6 133
Government Fee | 1st Year 3 VISA SLOTS AED 21 300
Government Fee | Renewal AED 19 800
TOTAL COST | 1st Year 7 353
TOTAL COST | Renewal 6 505
Government Fee | 1st Year 4 VISA SLOTS AED 22 900
Government Fee | Renewal AED 21 400
TOTAL COST | 1st Year 7 726
TOTAL COST | Renewal 6 877

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 LAVECO LTD.
Legal Solutions since 1991

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 LAVECO LTD.
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The fees for the first -- annual licence fee

year are payable prior -- local government fees and duties
to incorporation and -- incorporation duty
include the following -- company name registration
items -- all administration and consultation fees
-- provision of a registered office for one year from the date
of incorporation
-- preparation of the Deed of Foundation
-- preparation of the Memorandum and Articles of Association
-- original Certificate of Incorporation
-- Share book
-- minutes of meetings of directors
-- forms to be filed with the court of registration
-- Arabic/English bilingual stamp
-- expenses of personal appearance required for registration
-- 1 VIP transfer from Dubai airport
-- fees for forwarding documents by express courier
The annual fees (from -- provision of a registered office for one year from the anniversary
the second year) of the date of incorporation
are payable before -- annual licence fee
the anniversary of -- local government fees and duties
the formation of the -- company renewal duties
company and include -- personal collection of the renewed company documents from
the following items: the Free Zone
-- presentation of the renewed company documents to the
local bank (presentation of the renewed company documents to
the bank in which the company holds an account is obligatory
each year)
-- provision of a stamped certificate from the bank confirming
receipt of the company documents
-- forwarding the original (renewed) company documents to the
client by express courier

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 LAVECO LTD.
Legal Solutions since 1991

Opening of a bank account

1250 EUR
in a local bank:

-- Emirates Islamic Bank

-- Mashreq Bank
-- ADIB Bank
-- Emirates NBD Bank

The bank account
opening fee includes
the following items
Additional services:
-- personal meeting with the client in the clients hotel
-- preparing the client for the bank interview
-- collection of the client identification documents from the client
-- filling out the banks forms and documentation
-- continuous assistance during the bank account opening process
-- returning client to their hotel
-- tracking the bank account opening procedure
-- assistance in supplying any missing information/documentation,
and in replying to any possible additional questions
-- assistance in collecting the token and bank card and forwarding
them to the client
-- continuous consultation for the resolution of any situations
which may arise.

Director services: 990 EUR

Nominee shareholder: 490 EUR

Power of attorney: 290 EUR

Consular authentication: from 1500 EUR

Certificate of Good Standing: from 790 EUR

Courier fees: 75 EUR

Nominee services

Advantages -- complete anonymity regarding external partners

-- possibility to have contracts signed

Disadvantages The use of nominees is not accepted in the United Arab Emirates, so
it can be very difficult to open local bank accounts for companies with
nominee structures.

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 LAVECO LTD.
Legal Solutions since 1991

Arrangement of residence visa/

3900 EUR per person
residence permit:

Arrangement of -- VIP transfer between official locations and the clients hotel
residence visa/ -- Expedited medical examination
residence permit -- Urgent hospital administration fee (results within 3 hours)
covers the following -- Issuing of health certificate and registration with the Free Zone
-- Compulsory immigration screening and registration
-- Opening of immigration file and submission to the authorities
-- Issuing of entry permit authorising investment visa + express
service fee
-- Submission of entry permit to the airport immigration authority
-- Expedited fingerprint registration
-- Application for residence visa + express service fee
-- Collection of (plastic) UAE ID card
The administrative The whole administrative process takes approximately 3-5 days.
process The client needs to spend approximately 2-3 hours in the company of
our colleagues, and can spend the rest of the time relaxing. To assist
with the relaxation, we provide a 5-day discount card which author-
ises unlimited access to the swimming pools, beaches and spas of 18
5-star hotels in Dubai (Fairmont the Palm, Waldorf Astoria, The Palm,
Sofitel The Palm, Address Marina, Palace Hotel Downtown, Grand
Habtoor, Westin Marina, etc.).
Notes The residence visa and residence permit are valid for 3 years, and can
be extended (naturally, in this case it is necessary to maintain and
renew the company each year).
Additional option: 1-year apartment rental agreement certified by the
local government + proof of address certified by the Dubai Court.

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 LAVECO LTD.
Legal Solutions since 1991

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 LAVECO LTD.
Legal Solutions since 1991

OUR OFFICES AND REPRESENTATIVES

HUNGARY HONG KONG

LAVECO Kft. LAVECO LIMITED
LSZL VRADI JAMES WONG
Office Unit No. 6, 26th F.,
33/a Raday Street
Kin Sang Commercial Centre
1092 Budapest, Hungary
No. 49 King Yip Street
Tel.: +36-1-456-72-00
Kwun Tong, Hong Kong
Fax: +36-1-456-72-01 Tel.: + 852-2388-8051
hungary@laveco.com Fax: +852-2388-2960
www.laveco.com hongkong@laveco.com

UNITED KINGDOM BULGARIA

LAVECO LTD. LAVECO EOOD

GIZELLA KOZMA ANDREY GRAMENOV

104 Akad. Ivan Geshov Blvd.
3rd Floor, Blackwell House Entrance A, 5th Floor, Office 8,
Guildhall Yard, London 1612 Sofia, Bulgaria
EC2V 5AE United Kingdom Tel.: +359-2-953-2989
Tel.: +44-207-556-0900 Mob: +359-888-126-013
Fax: +44-207-556-0910 Fax: +359-2-953-3502
london@laveco.com bulgaria@laveco.com

CYPRUS SEYCHELLES
LAVECO LIMITED LAVECO LTD.
GIZELLA KOZMA SHEIRLEY BANANE
Despina Sofia Complex Suite 2, Oliver Maradan Bld.
Ap. 201, 8 Inomenon Ethnon Olivier Maradan Street,Victoria
Drosia 6042, Larnaca, Cyprus Mah, Seychelles
Tel.: +357-24-636-919 Tel.: +248-4-322-261
Fax: +357-24-636-920 Fax: +248-4-324-932
cyprus@laveco.com seychelles@laveco.com

UAE
LAVECO MIDDLE EAST FZC
MICHAEL DWEN
Conrad Dubai, 19th Floor,
Sheikh Zayed Road
Dubai S610 UAE
Tel.: +971-4-3827-758
Mob.: +971-50-173-4428
Fax: +971-4-3266-202
middleeast@laveco.com

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 LAVECO LTD.
Legal Solutions since 1991

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