CORPORATE SECRETARIAL SERVICES:
Secretarial Services: Whether setting up a new business or regulating your existing business enterprise, strict compliance with the current laws and regulations, has never been given greater importance as it has been given to at this moment of time for the shareholders and/or the directors. With the advent of VAT law, Excise law and other tax related laws and in addition to the need for regular reporting vide the UAE Economic Substance Regulations and others, it is of utmost priority that companies stay updated and on top of all such requirements and thus implement and maintain a robust and solid framework to ensure timely compliance to avoid any future repercussions. Thus, such increased compliance needs have paved the way for many entities to outsource their company secretarial and compliance requirements.
A company secretary is a person who is responsible for ensuring that a company is fully compliant with all the laws including financial requirements in the jurisdiction of its establishment. Company secretarial services mostly includes maintenance of company records, providing compliance services, ensuring submission of the entity’s annual financial statements, calling for the annual general meetings and monitoring documentation requirements.
Why would one want to outsource their company secretarial requirements? Well, ensuring timely and impromptu compliance would indeed be a difficult as regular update of the current laws and regulations is more often than naught a huge ask and thus the risk of failing to comply with all the legal requirements would be considerable for any entity and its management. Thus, outsourcing your corporate secretarial requirements would enable you to be on top of all the updated requirements without any risk or failure of non-compliance.
Hence, we at Munshi Atik Chartered Accountants (formerly Enterprise House Chartered Accountants) offer you assistance to all such corporate service requirements tailor made to cater your business enterprise, whether it be a local or foreign structure. Our motto would be to ensure that you are always compliant with the ever changing and complex needs and requirements of the country’s laws and regulations.
The areas of our assistance would include:
· Preparing and maintaining documents pertaining to year end formalities, such as the notice of meeting, minutes for the annual meeting of shareholders.
· Arranging annual meetings and attending such meetings and recording the same as a reporting secretary.
· Obtaining approval of financials and further preparing and submitting annual returns in accordance with local requirements.
· Maintaining entity’s trade license and copies of registers of the company in the UAE, including renewals of such entity.
· Issuing notices/reminder notices for the need to prepare and file audited financial statements in accordance with the applicable requirements.
· Providing advice on restructuring, liquidations, and dissolutions.
· General advice.
Secretarial services are an essential part of corporate governance. We provide trustworthy secretarial services for our clients, starting with incorporation and directorship to coordinate company license renewal and annual general meetings.
During incorporation, Munshi Atik Chartered Accountants (formerly Enterprise House Chartered Accountants) can look at and compare the cost of different free zones, visit these zones and discuss and finalize operational options. We can also handle the registration and pre-approvals, draft the needed documentation, get approvals from the necessary authorities, get your documents translated, and support you in several business administrative tasks.
Our team is experts in a wide range of corporate secretarial services to help keep you on top of your corporate governance. We provide incorporation and directorship services and help big and small businesses coordinate annual company license renewal and yearly general meetings AGM). For multinationals, we can help you with international entity management and act as a process agent.
Incorporation and Secretarial services:
- Perform a cost comparison of two to three free zones. (licensing, registration, rent, visa, application costs, etc.)
- Visit the selected free zone to discuss office space options, procedures, time lines, etc.
- Gather information about the detailed administrative steps and guidance in establishing the entity; we’ll do this in close cooperation with the respective authority.
- Take care of company name registration and pre-approvals
- Draft the necessary establishment documentation. (Memorandum of Association, Power of Attorney, Board Resolution, Business introductory forms, applications, etc.)
- Obtain pre-approval from authorities for all documents.
- Legalise establishment documentation at relevant Ministries in the UAE.