Dubai Nominee Director services in 2021
Some of our Clients request Healy Consultants Group to provide passive resident director services to fulfil Dubai statutory requirements, as may be set by different government or financial institutions in the emirate. Mr Aidan Healy or another of our Dubai staff members will act as the resident director of your company.
Resident director litigation, financial and reputation risk
- Acting as a resident director for our Clients’ companies makes Healy Consultants Group vulnerable to financial, litigation, and reputational risks. For example:
- In case a company fails to file its annual returns and annual general meeting documents on time, the resident director is liable to pay the corresponding penalties and attend a court summons on behalf of the company;
- The resident director is answerable to the Tax Authority in case of unpaid taxes or inaccurate tax reporting by our Clients’ companies;
- Any breach of law by our Clients’ companies can result in disqualification for Healy Consultants Group and Aidan Healy;
- Because of the above, we require our Clients to strictly adhere to the set down laws and fulfil annual filing obligations to ensure the Client’s company is not in contravention of local company law.
Our fee for Dubai passive resident director services
- Our fees for low-risk business activities vary according to the passive role required from Healy Consultants Group:
Our annual fee Provision of a co-director US$4,500 Provision of a sole resident director US$6,600 Provision of a sole director and bank signatory US$16,600 Provision of a co-director and bank signatory US$14,500
- For medium and high-risk business activities, our Firm will determine our fee after careful review of corporate and individual due diligence documents by our legal and compliance department.
Terms and conditions of the appointment
- When appointing Healy Consultants Group as a passive nominee resident director for a Dubai company, the resident director will exclusively act as a signatory to company financial statements and company documents prepared by our in-house Legal and Compliance Department;
- Should our Client require Mr Aidan Healy to act as the Dubai nominee resident director to sign documents, an additional fee may apply due to increased financial, reputational and litigation risk that he may face;
- If our Client requests our Dubai resident director to visit banks to open accounts, our charge is US$1,950. Our Client will also need to bear all costs raised from the bank visit, including but not limited to flights and hotels. The resident director will provide all official invoices for these expenses;
- To protect the interests of the parties involved, our Clients enter into a nominee resident director agreement with Healy Consultants Group PLC, highlighting the terms and conditions of being a passive director .