Public Shareholding Company Formation
Public Joint Stock Company(PJSC) in Dubai
Public Shareholding Company, also called Public Joint-Stock Company(PJSC), is an organization where business capital is split into equivalent shares. The law provides that businesses involved in banking, insurance, or financial operations shall be regulated as public shareholding firms. However, by opening a branch or representative office of international banks, insurance, and financial firms with Bytes can carve a foothold in Dubai. So, get in touch with us today for Public Shareholding Company Formation in Dubai.
Benefits of Public Joint Stock Company Setup
When dealing with business on a fairly broad scale, a joint-stock partnership is the most appropriate business organization. Let’s see why.
- Limited Liabilities: The liability of the Joint Stock Company’s owners shall be limited to the degree to which their shares are owned. The funds of shareholders would also not be at stake. This feature attracts a large number of investors to invest in the company.
- Perpetual Existence: A corporation is an artificial legal person with its independent legal rights generated by law. Its members’ death or insolvency does not impact its existence.
- Large Scale Operation: The potential of corporate organizations to raise funds is relatively high, supplying large-scale operations with capital.
- Share Transferability: It’s easy to transfer shares to anybody in a joint-stock company. Although The same is not allowed for limited private commitments.
- Raising Funds: A significant volume of funds can be collected quickly as the number of individuals contributing to the funding is higher.
Requirements of Public Shareholding Company
- At least 10 founding member and 3-15 persons in the board of directors
- Term of office may not exceed three years.
- Chairman and directors must be UAE nationals
- Minimum capital (AED 10 Million) is required. 40 million for banking company and 25 million for Investment Company is required.
How to Setup a PJSC in Dubai?
Here are steps to open a Public Shareholding Company or PJSC in Dubai:
- Select the trade name of your organization.
- Obtain first acceptance from the Department of Management Studies (DED), Dubai.
- Fill in any requested licensing documentation to be issued for the permit.
- Pay fees and receive the license of the business.
If you do not want to take a lot of stress and want a hassle-free setup & public joint-stock company formation in Dubai, UAE, the best choice is to work with professional business consultants, and Bytes can help you. Our team of experts at Bytes is fully aware of the current rules and regulations of company formation in Dubai.
Documents Required To Setup a Public Shareholding Company
List of documents required for public shareholding company formation in Dubai:
- Agreement of the Founder with Registration & Licensing Application
- Invitation Prospectus for Public Subscription
- UAE Securities & Commodities Authority Approval for Public Shareholding
- Certificate of Auditors
- Resolution of Economy for Public Shareholding for Ministry
- Due Diligence Survey
- Two copies of the feasibility analysis of the project
- Four copies of a Memorandum and Laws approved by a Notary Public Approved
- Solicitor of Structure of Parliament
- Photocopies of the contract for office space and the reported plot number
- Appointed Board of Manager and & Written Declaration granted appointment
- Initial records on director names, date and place of birth, professional career, and details
Why Set Up a Public Joint Stock Company in Dubai?
International companies are given several possible possibilities to invest. Setting up a reputable firm establishment in Dubai, many investors are also subject to conflict with many legal forms of integration. They want to explore unique benefits, work in an on-the-spot environment, be free to find and rethink market opportunities, and rely on a chief office room. Shareholding companies in Dubai have a particular preference among outside investors, and business structures that offer such advantages.
How Can Bytes Help You?
Business incorporation comes with its share of benefits in Dubai. Bytes helps foreign investors set up their dream companies in Dubai and serves as a one-stop solution provider for the registration, accounting, bookkeeping, taxation, and corporate secretarial services of companies. If in search of a reliable partner to set up a business in UAE, please contact us for help.