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Private Shareholding Company Services

Private Shareholding Company Services
Private Shareholding Company Services
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Service Code : 09
As per industry specified norms, most of the shareholders and also chairman of any Public Shareholding Company need to be UAE citizens. These UAE shareholders should posses minimum 51% of the total share. Capital of any public shareholding organization is classified on the basis of identical stocks and the legal power of the shareholder of such firm is measured as per the stocks owned by him/her.

AED 10 million (US $ 2,724,796) along with AED 1 – one hundred as nominal face cost is the basic capital amount required to form a public shareholding organization. For any financial organization like bank, this basic capital amount is AED forty million. It is AED 25 million in case of setting up of funding and insurance firms. There are several other factors that need to be fulfilled for successful establishment of public shareholding organizations. These include conduction of diligence survey, certification from an authorized auditor, article of approval and a memorandum.

Public Share Holding Company, Dubai

Any public joint stock holding enterprise needs to have minimum founder benefactors. The authoritative power of this company needs to be bestowed on its board of directors that need to be constituted of 3-15 personnel whose service period in this firm should not be more than 3 years. The ratio of capital between founder contributors and public needs to be maintained at 35:65 levels.

Organizations including financial agency like banks and insurance firms can be managed as a public shareholding companies. In UAE, the capital of such companies is equally distributed as shares and the authoritative power of any shareholder is limited to the number of shares held by him.

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