Table of Contents
Terms & Conditions:
These Virtue Corporate Services terms & conditions contained herein on this webpage, shall govern your use of this website, including all pages within this website. These terms apply in full force and effect to your use of this website and by using this website, you expressly accept all terms and conditions contained in this website. You must not use this website, if you have any objection to any of these terms & conditions.
These are the terms that apply when you are using our website.
Who We Are and How to Contact Us
https://virtuebiz.wpengine.com is a site operated by Virtue Corporate Services FZ LLC (trading as Virtue Corporate Services) (referred to on this page as “us” or “we”). We are a Free Zone Limited Liability Company incorporated in the United Arab Emirates with licence number 2203717.01. Our registered address is The Meydan Hotel, M Floor, Business Center, Al Sheba, Dubai, United Arab Emirates. If you wish to contact us, please do so by email firstname.lastname@example.org.
By Using Our Website You Accept These Terms
By using this website, you confirm that you accept the terms of this policy and that you agree to comply with them. If you do not agree to these terms, you must not use our site.
There May Be Other Terms That Apply to You
Please note there may be other terms that apply to you. If you engage with us in the provision of products, our business terms and conditions and software licence may also be applicable to you.
We May Make Changes to the Terms of This Policy
We amend these terms from time to time. Every time you wish to use our site, please check these terms to ensure you understand those terms that apply at that time.
We May Suspend or Withdraw Our Website
We may suspend or withdraw or restrict the availability of all or any part of our website for business and operational reasons.
How You May Use Material on Our Website
We are the owner or the licensee of all intellectual property rights in our website, and in the material published on it. All material produced on our website is protected by global copyright laws and treaties. All such rights are reserved.
You may print off one copy, and may download extracts, of any page(s) from our website for your personal use and you may draw the attention of others within your organisation to content posted on our website.
You must not modify the paper or digital copies of any materials you have printed off or downloaded in any way, and you must not use any illustrations, photographs, video or audio sequences or any graphics separately from any accompanying text.
Our status (and that of any identified contributors) as the authors of content on our website must always be acknowledged.
You must not use any part of the content on our website for commercial purposes without obtaining a licence to do so from us.
Do Not Rely on Information on This Website
The content on our website is provided for general information only. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our website.
Although we make reasonable efforts to update the information on our website, we make no representations, warranties or guarantees, whether express or implied, that the content on our website is accurate, complete or up to date.
We Are Not Responsible for Websites We Link To
Where our website contains links to other websites and resources provided by third parties, these links are provided for your information only. Such links should not be interpreted as approval by us of those linked websites or information you may obtain from them.
We have no control over the contents of those websites or resources.
Our Liability to You
We do not exclude or limit in any way our liability to you where it would be unlawful to do so. This includes liability for death or personal injury caused by our negligence or the negligence of our employees, agents or subcontractors and for fraud or fraudulent misrepresentation.
Different limitations and exclusions of liability will apply to liability arising as a result of the supply of our services to you. Please refer to our terms of engagement for further details.
We exclude all implied conditions, warranties, representations or other terms that may apply to our website or any content on it. We will not be liable to you for any loss or damage, whether in contract, tort (including negligence), breach of statutory duty, or otherwise, even if foreseeable, arising under or in connection with:
- use of, or inability to use, our website; or
- use of or reliance on any content displayed on our website.
In particular, we will not be liable for:
- loss of profits, sales, business, or revenue;
- business interruption;
- loss of anticipated savings;
- any indirect or consequential loss or damage.
How We May Use Your Personal Information
We Are Not Responsible for Viruses and You Must Not Introduce Them. We do not guarantee that our website will be secure or free from bugs or viruses. You are responsible for configuring your information technology, computer programmes and platform to access our website. You should use your own virus protection software.
You must not misuse our website by knowingly introducing viruses, trojans, worms, logic bombs or other material that is malicious or technologically harmful. You must not attempt to gain unauthorised access to our website, the server on which our website is stored or any server, computer or database connected to our website. You must not attack our website via a denial-of-service attack or a distributed denial-of service attack. We will report any breach of this term in our discretion to the relevant law enforcement authorities and we will co-operate with those authorities by disclosing your identity to them. In the event of such a breach, your right to use our website will cease immediately.
Rules About Linking to Our Website
You may link to our home page, provided you do so in a way that is fair and legal and does not damage our reputation or take advantage of it. You must not establish a link in such a way as to suggest any form of association, approval or endorsement on our part where none exists.
You must not establish a link to our website in any website that is not owned by you.
Our website must not be framed on any other website, nor may you create a link to any part of our website other than the home page. We reserve the right to withdraw linking permission without notice.
If you wish to link to or make any use of content on our website other than that set out above, please contact email@example.com.
Which Country’s Laws Apply to Any Disputes?
These terms, their subject matter and formation are governed by the laws of Dubai International Financial Centre (DIFC) without giving effect to any choice or conflict of law provision or rule (whether of the DIFC or any other jurisdiction). You and we agree that any dispute, difference, controversy or claim arising out of or in connection with this Licence including (but not limited to) any question regarding its existence, validity, interpretation, performance, discharge and applicable remedies, shall be subject to the exclusive jurisdiction of the Courts of the DIFC, although we retain the right to bring any suit, action or proceeding against you for breach of these terms in your jurisdiction of residence or any other relevant jurisdiction. You waive any and all objections to the exercise of jurisdiction over you by such courts and to venue in such courts.
Costs and Other Charges:
We may incur various disbursements, other governmental charges and payments to third-parties in performing our services for you. The invoice related to disbursements from third party should be under Client’s name. You hereby agree that such charges and expenses are your sole liability and not included in the quoted fees. You hereby authorize us to pay those charges on your behalf in addition to our fees within 5 working days from receiving instructions to do so from our side along with any supporting documents. A disbursement of expenses is out of scope of VAT, if it meets the above-mentioned criteria. Examples of disbursements and other charges commonly include but not limited to Taxes and governmental fees.
Terms of Payment:
All payments (except otherwise indicated) are payable to our Mashreq Bank and WIO Bank account. Please contact us for the complete details.
- Payments are to be made in advance for all services, except where post-dated cheques or another form of guarantee to the entirety of the services is received and approved.
- The Fee structure and costs are as indicated and agreed at time of signing these terms and conditions or as is prevalent at the time of subscribing for a product or service after the signing of these terms and conditions
- The customer is required to provide payment via cash, bank transfer, credit card, post-dated cheques upon application, amounting to the agreed Support Services terms for the longevity of the trade license or as otherwise agreed. Subject to the Clause above, the Customer hereby acknowledges and agrees that it shall be responsible for the payment of any applicable administrative charges, as may be imposed by Virtue Corporate Services.
- All bank transfer fees are to be borne by the payer.
- We will not trade with or provide any services to OFAC and sanctioned countries.
- Customer using the website who are Minor /under the age of 18 shall not register as a user of the website and shall not transact on or use the website.
- Cardholder must retain a copy of transaction records and Virtue Corporate Services policies and rules.
- User is responsible for maintaining the confidentiality of his account.
- Applications are submitted for processing and indicated timelines commence upon realisation of payment.
- Any ancillary services will be quoted and charged in advance and accepted through written consent or otherwise agreed.
- Any regular mail received will be kept for 60 calendar days and will be discarded thereafter if not collected. Any parcels received will carry a handling fee of 100 AED per item in addition to any applicable customs fees; parcels will be discarded after 21 calendar days if not collected.
- The PO Box details that appear on your Free Zone trade license can NOT be used to receive any mail or packages for yourself or your company; any mail or packages sent to these PO Boxes will be destroyed.
- Should payment for the renewal of the Virtue Corporate Services package (Support Services and Company Registration) not be made by the expiry date of the company Trade License, all services will be discontinued. Furthermore you will be charged a penalty of 25 AED per day after the date of expiry until you either renew the Virtue Corporate Services package or complete the closing/cancellation procedure, you will also be liable to pay any applicable government fees i.e. closing/cancelling fees and late fees for closing/cancelling after the expiry date of the license, or late fees for renewing your license after the expiry date of the license as well as any license amendment fees if the Licensing Authority has re-allocated your office space due to renewal of the license after the expiry date.
- Some services will be provided by and governed by a 3rd party operator. Virtue Corporate Services will make payment to the selected 3rd party operator for the selected service on behalf of the Client, however the client will be required to sign the terms and conditions of the selected 3rd party operator and will be bound and governed by those terms and conditions. Virtue Corporate Services carry no liability for any part of the agreement entered into between the Client and the selected 3rd party operator.
- Any payments received by Virtue Corporate Services towards any product or service are non-refundable unless agreed otherwise. This condition is valid even if the payment received isn’t for the full amount of the service or product subscribed for and/or the customer has yet to provide Virtue Corporate Services with all the correct documentary requirements for said product or service and/or their application is rejected by the licensing/government authority for any reason
Non – Payment & Cancellation Policy:
- In the event that the post-dated cheques or security deposit for any products or services subscribed to are not cleared within 30 days of their due date, legal action will be sought to recover the funds up to and including the cancellation of the company trade license and any company visas and imposing any necessary bans through the free zone and/or other licensing authority and/or UAE immigration against the customer. Furthermore Virtue Corporate Services reserves the right to take over and subsequently close the customer’s company incorporated via Virtue Corporate Services should it deem it necessary and cancel any visas associated with said company without notice in the sole case of any outstanding payment being delinquent for over 30 days, where the customer will remain liable for the outstanding charges to Virtue Corporate Services and all applicable fees associated with the cancellation of said trade license and visas (pricing available on www.virtuebizsetup.ae)
- Late payments will be subject to a penalty of 10% per month or part thereof.
- Cheques returned result in a charge of AED 250.
- In an event of an unauthorized credit card for monthly Support Services payment, there will be a charge of AED 250
- Any yearly renewable product or service will auto renew for a further 12 month period unless written notice is received 2 months before the renewal date.
- You will be required to settle upfront in full any pending instalments at the time of cancellation of your license.
- In the event of cancellation of the trade license, you will be required to pay the prevailing Virtue Corporate Services/government charges for closing down the company or cancelling the visas.
- Ownership of any property left in Virtue Corporate Services facilities being transferred to Virtue Corporate Services, for disposal, sale, or any other action deemed necessary to recover any outstanding balance from the customer. Virtue Corporate Services will have no obligation whatsoever to disclose information concerning action taken if any, and may still take necessary legal measures to obtain payment for services provided from the customer.
- With regard to the company setup via Virtue Corporate Services, the client is obliged to maintain Virtue Corporate Services as their agent for the lifetime the company remains in existence, and are not permitted to transact their company license renewal or any other process pertaining to their company individually or via another agent or via the Free Zone at any time unless otherwise agreed by Virtue Corporate Services.
- Virtue Corporate Services reserves the right to take legal action both in the UAE and globally to recover all and any funds it is owed, and to assign the collection of any such debts to a 3rd party collection agent in any jurisdiction domestically or globally.
- The referral payment is based on a sliding scale between AED 1,000 to AED 3,000 for successful company setups with Virtue Corporate Services.
- The payment amount is determined by the type of company license registered.
- Minimum referral reward is guaranteed AED 1,000.
- Referral fees are not applicable when setting up a second company with Virtue Corporate Services – whereby one or more Directors are listed on both the first and second company licenses. In this instance, a special rate will be negotiated and treated on a case by case basis.
- Rates listed for referral rewards are active from 1st Dec 2022 They will not be applied retrospectively to any previous referrals or companies registered with Virtue Corporate Services prior to 1st Dec 2022.
- A ‘Referrer’ is an individual making an introduction of a prospective Client to Virtue Corporate Services.
- A ‘Referee’ is the individual/body being introduced with such intention that they should become a Client.
- A ‘Referral’ is the introduction of such an individual/body to Virtue Corporate Services and must contain the referee party’s details such as full name(s), email address(es) and contact number(s) as well as the full bank details of the referrer.
- Only Referrals resulting from an introduction made directly to a company setup advisor or an email to firstname.lastname@example.org or via our webpage https://referral.virtuebizsetup.ae; will be entertained and considered as Referrals. Any Referrals made in retrospect will not be deemed payable should the correct and approved channels not have been used as a method of Referral.
- Referee details must be received by Virtue Corporate Services by the Referrer in advance of the Referee contacting Virtue Corporate Services.
- The reward for a successful Mainland (Dubai or Abu Dhabi) referral is as follows:
- Dubai Mainland License– AED 1,000
- Dubai Mainland License with VAT annual consultancy package– AED 2,000
- Dubai Mainland License plus Bank account assistance- AED 1,500
- Dubai Mainland License, annual VAT consultancy and Bank account assistance package- AED 2,500
- Free Zone referral fees are as follows:
- IFZA, MEYDAN, SHAMS, SPC, DMCC, JAFZA freezone license– AED 1,000
- IFZA, MEYDAN, SHAMS, SPC, DMCC, JAFZA license plus VAT annual consultancy package-AED 2,000
- IFZA, MEYDAN, SHAMS, SPC, DMCC, JAFZA license plus Bank account assistance- AED 1,500
- IFZA, MEYDAN, SHAMS, SPC, DMCC, JAFZA license, annual VAT consultancy and Bank account assistance package- AED 2,500
- This reward shall only be deemed payable 10 working days after such time that the Referee has completed and successfully submitted their license application and all payments in relation to that license application have been received by Virtue Corporate Services.
- Virtue Corporate Services reserves the right to delay or demand further evidence at its sole discretion.
- Any Referral Fee shall be considered forfeited if remains unclaimed for a period of six (6) months from the date of its issuance. In such an event, Virtue Corporate Services shall assume no legal or financial lability towards the Client.
- Any refundable deposit shall be considered forfeited if remains unclaimed for a period of six (6) months from the date of cancellation, in such an event, Virtue Corporate Services shall assume no legal or financial lability towards the Client. bank account details shall be provided for the transfer of the refundable deposit when claimed by the Client
If you have any questions about these Terms, please contact us