The underlying legal code in Yemen is islamic law (sharia) law. You will want to get some local advice as to how to best structure a company in Yemen. Electronic signatures are permitted.
The letters YE is for Yemen and the most common legal entity type in Yemen is a LLC.
The average time to incorporate is 40 days to put together the paperwork and file a LLC in YE. is 0, This means you don't have any minimum share capital. The types of currencies you can use to capitalize your company is most commonly legal tender.
Yes, one is allowed to re-domicile a LLC from YE. You are usually allowed to change the jurisdiction of the company, pending certain procedures.
There must be at least 1 shareholder. This makes it possible for you to own a LLC in YE by yourself. Corporate Shareholders are encouraged, which means you can have a corporate shareholder. Foreign ownership is permitted, up to 100% of the total equity of the company.
A LLC is only required to have one director. Additionally, corporate directors are permitted. Directors are disclosed publicly. There is a requirement to have annual meetings of shareholders.
A registered agent is normally required, which means the company will have to pay a fee on a yearly basis, for an address which can receive a service of process on behalf of the business. Furthermore, a corporate secretary is
There is a requirement to file accounts to relevant authorities. However, there is oftentimes a requirement to have these accounts audited.
Thin capitalization rules are not in effect.
A corporate director is permitted, meaning this country is a good option if you are setting up a structure where you want to protect director liability.
The directors are disclosed in the public registry of Yemen, Republic of Yemen Ministry of Indaustry and Trade. Shareholders are not disclosed in the Republic of Yemen Ministry of Indaustry and Trade.
Typically companies take 40 days to setup and there are 1 director(s) required and 1 shareholder(s) required at the time of incorporation.
Overall we think Yemen is a ok option and have given it a score of 55 as an IO score, using the Incorporations.IO proprietary formula.
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