A Special Purpose Company (SPC) can be established in the Dubai International Financial Centre (DIFC) and is incorporated under the laws of the DIFC, a free zone located in Dubai that has its own law, English Common Law court system and its own financial regulator.
An SPC can be established for many reasons, including:
- for acquisition, holding or disposal of any asset
- as a holding vehicle for a specific merger or acquisition transaction
- for obtaining financing, granting of security, providing indemnities to shareholders or subsidiaries
- to act as trustee
- for financing of another SPC
- for any other activities approved by the DIFC.
When establishing an SPC the shareholders must also appoint a Corporate Service Provider (CSP). ISPR is both registered and licenced to act as a CSP, providing the following services on an annual basis:
- a majority of Board Directors – you will need to appoint one Director and we will appoint two Directors
- act as Company Secretary
- provide a registered office address
- liaise with DIFC’s Registrar of Companies on your behalf
- maintain annual compliance regulations & any associated license fees.