ded multi proposal june2012 (1)

Tas’heel Document Clearing Services (a division of Emirates Holding LLC)

Level 14, Office 1401, Boulevard Plaza Tower 1, Downtown Dubai, PO Box 334155, Dubai, UAE. Tel. +971 4 4558444 Fax. +971 4 332 8810 email: [email protected]

www.emiratesholdingDubai.com

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May 2012

Proposal for company Incorporation & Formation Services Welcome to Tas’heel… Following our recent correspondence, please find below details of the services we are able to provide in reference to your company setup requirements in Dubai. An introduction to Tas’heel Tas’heel offer a range of business set-‐up solutions to help establish your business professionally and cost-‐effectively in Dubai. We provide a comprehensive service that meets all your requirements managing the complete incorporation service from initial approval to issuance of your trade license. Whether you are looking to establish a simple trading operation or set up a manufacturing facility in Dubai we can take you through the entire process in a manner that suits your specific requirements. We offer in-‐house business setup consultancy services, local sponsorship, registered office premises, staffing solutions, free zone company incorporation, phone answering and P.O Box Management services. We pride ourselves by having the local knowledge, business relationships, and strategic alliances to ‘get things done’ and make your establishment of a business in Dubai a straightforward and painless process. _______________________________________




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Company Formation Overview Our understanding of your requirements From our recent discussions we believe that we have obtained a good understanding of your company's needs and under the Department of Economic Development DED, there are two licensing options; Option 1. Consultancy (Professional) License (a) The establishment of a professional services or consultancy activity is formed Professional License (Civil Works

Company) in Dubai (the "Company").

Under this license you or any individual(s) nominated by you will have full control of the Company (owning 100% of the shares), Including finance, management, and administration including but not limited to human resource and other operational requirements. The Local Service Agent (or Sponsor), as detailed in (b) below will provide all necessary signed documentation to this effect.

(B) To comply with the provisions of UAE law we propose that one of the local partners of Tas’heel will act as the

Local Service Agent (LSA) (the "Sponsor") that will hold 0% of the shares in the Company. The Sponsor will not be involved in the Company in any way, and will not contribute to the company’s capital requirements. This means that you own 100% share of the company and the Local Service Agent nominated acts on your behalf to facilitate the trade license and visa processes.

The company will be structured in a manner whereby management control and actual profit sharing ratio rests completely with the foreign shareholder.

Option 2. Trading License (General Trading / Commercial Trading) (a) The establishment of a Limited Liability company (LLC) in Dubai (the "Company")

(b) In establishing this company you or any individual(s) nominated by you will have full control of the Company,

including finance, management, and administration including but not limited to human resource and other operational requirements. The Sponsor Tas’heel LLC will provide all necessary signed ‘side agreements’ documentation to this effect, which are legally binding and permissible in court.

(c) To comply with the provisions of UAE Company’s Law, Tas’heel (a division of Emirates Holdings, represented by

Mr. Faisal Al Qazi) as the UAE national (or the sponsor) will hold 51% of the shares in the Company. As above it is reiterated that the Sponsor will NOT play any role in the Company in any way. They will not contribute to the Company’s capital requirements or have the power to influence decision making. The company will be structured in a manner whereby management control and actual profit sharing ratio rests completely with the foreign shareholder.

1.0 Description of Services The following agreements will need to be entered into between the shareholders to reflect their understanding:

(a) Memorandum of Association (b) Management Power of Attorney (c) Chamber Of Commerce Certificate (d) Other ancillary agreements as agreed between the shareholders




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The services we will provide are Company sponsorship, drafting the Company's incorporation documents, incorporating the Company and generally doing all things necessary for the Company to commence trading including, processing the Trade License which include:

1. Payment of Company sponsor Fees 2. Drafting of documents which includes:

a. Initial name and activity approval b. Memorandum Of Association (MOA) c. Management Power Of Attorney d. Chamber Of Commerce Approval (if required – branch office only)

3. Translation of all documents 4. Visitation to the Notary Public to sign MOA 5. Submission of file at the DED 6. Planning Department Approval 7. Civil Defense Approval 8. All Dubai Economic Department (DED) Fees (payment voucher – paid by the customer at actuals) 9. Issuance of Trade License.

We will additionally supply at no extra cost:

(a) P.O Box and Mail Management Services (b) Free Business Cards (2 colours – normal printing) (c) Company Stamp (d) Bank account set-‐up referral

2.0 Documentation Required

A) Clear passport copies of the expatriate shareholders/directors & managers (Please check whether the passport has 6 months validity. If the shareholder/director & manager are not resident in Dubai take copy of the visa entry stamp on the passport and the visit visa).

B) Power of Attorney (If shareholder outside Dubai) (Notarized/Attested). This will increase the time to receive your trade license.

C) No objection certificate if the shareholder is an employee in any company in Dubai (if this cannot be obtained we can make suitable arrangements for a fixed fee)

D) Attested Degree certificate in the case of a Professional License Company. All foreign documents will need to be attested by the foreign office at origin / the UAE embassy at Origin / Ministry of foreign affairs UAE and if required translated. We can assist in all these processes if required. 2.1 If a foreign company is a shareholder:

A) Original Certificate of Incorporation B) Original Memorandum and Articles of Association C) Board Resolution specifying to open a DED company D) Power of Attorney (if required)




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3.0 Timelines and Procedure Day 1 Deposit Payment for Sponsor and PRO Fees and sign agreement for services. Day 2 Preparation of MOA Day 2 Meeting Sponsor at Notary Public to issue Power of Attorney (POA) to manage trade license incorporation

process. Day 3 – 5 Deliver Rental or Lease agreement for address registration for your trade license.

At this time the application for the initial approval, name approval and activity approval will be made to the Economic Department of Dubai. Following receipt of the preliminary approval from the Economic Department, the appropriate commercial rental agreements for proposed premises must be provided. Specific regulations regarding minimum size, location, and suitability apply (min 500 sq ft.).

Day 6-‐7 Approval from Department of Planning The Department of Planning must approve the premises for the activity of the proposed company.

Day 7-‐14 File submission / Issuance of Trade License The file is submitted to the Department of Economic Development for the processing of the Commercial Registration and the Trade License. At this time a payment voucher will be issued for us to pay on your behalf or you pay directly.

The above timelines are based on our recent past experience; the likely time frame for completion of the assignment is expected to be as above 10 days. We have the option of an express service for a fee of AED 2,500 additionally for a trade license to be produced in less than a week). Note: Certain activities that require approval from specific Ministries and Departments are estimated to take approximately 6 to 10 days in addition to the above and may additionally require specific bank guarantees. The timelines start from when we received the rental agreement from the customer. 4.0 Scope of work and Fees Our fees are based on the degree of skill and responsibility involved (as per 2.0 description of services) and on the time necessarily occupied. They include any out-‐of-‐pocket expenses, legalization and attestation excluding official fees and charges, which are at actual cost. 4.1 Fees A) Sponsorship AED 15,000 B) PRO Fees (as per 2.0 in this proposal) AED 10,000

C) Govt. Trade License Fees (as per official receipts AED 12,000 – 25,000 and dependent on activity)

Total AED 37,000 – 50,000 (approximately) 4.2 Lease Contract A lease or rent agreement will be needed to facilitate the trade license and to register your company at an address. 5.0 Registration & Labour Cards Employment visas and Labour cards can be processed after obtaining the Company Labour & Immigration registration cards, which usually takes approximately 2 weeks after obtaining the trade license.




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5.1 Registration Cards Immigration AED 1,500 (Processing time – 2 working days) Labour AED 3,200 (Processing time – 3 working days) 5.2 VISA Processing & Costs 5.2.1 Investor Visa

• 3 year validity • Professional License only • Single or multiple shareholders • VISAs are not guaranteed and are subject to immigration approval for certain nationalities • No Immigration or Labour registration cards required Costs

• 3,000AED government fee • 20,000AED refundable deposit upon cancelation of visa • 500AED UAE ID CARD • 1000AED PRO services

Time

• 3 working day (2 weeks for certain nationalities that require security approval)

5.2.2 Partner Visa • 3 year Validity • Commercial License • Industrial License • Single or multiple shareholders • Visa are not guaranteed and are subject to immigration approval for certain nationalities

Costs

• 3,000AED government fee • 10,000AED refundable deposit upon cancelation of visa • 500AED U.A.E ID CARD • 1,000AED PRO services

Time

• 3 working day (2 weeks for certain nationalities that require security approval)




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5.2.3 Dependents Visa – (residency visa) • 3 year Validity • Wife, husband, children, parents • Need original birth certificates + translation • Need original Marriage certificate + translation • Need Original passport • Need 3 ID photos each

Cost

• 3,000AED each • 500AED ID Card • 1000AED PRO services

Time • 3 days

5.2.4 Employment Visa (Labour and Immigration files are needed to be open as per 5.1) • 2 years • Need passport copy • Need 4 passport size photo’s • Need attested copy of degree (for high job titles) • State job title • Email address Cost

• 4,000 – 6,000AED depending on grade of company which is required from Ministry of Labour • 3,000AED refundable deposit • 500AED – ID CARD • 1,500AED PRO services • Includes labour card

Time • 2 weeks

5.3 Labour Cards (separate for staff on own dependent VISA)

Labour cards AED 1-‐2000 (based on nationality) PRO Fee AED 1,000

(If you are a shareholder of a company on another VISA – no labour card is required)




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Summary We trust this proposal meets with your requirements but please do not hesitate to contact us should you require any further information. If you should decide to appoint us to process your trade License kindly sign at the end of this page as indicated and return a copy of this proposal to us. Yours sincerely, Faisal Al Qazi Managing Director Accepted by: Name: _________________________ Company Name (1) ________________________ Company: _________________________ Company Name (2) ________________________ Signature: _________________________ Company Name (3) ________________________ Date: _________________________ Activity Name: ________________________ Activity No: ________________________

ded multi proposal june2012 (1)

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