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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

488233

Report Date :

24.01.2018

 

IDENTIFICATION DETAILS

 

Name :

AKSHAR IMPEX DMCC

 

 

Registered Office :

80K2 AG Tower (Silver Tower), Plot No. 15, Jumeirah Lakes Towers P O Box:

625773, Dubai

 

 

Country :

United Arab Emirates

 

 

Date of Incorporation :

01.11. 2011

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Subject engaged in the import and distribution of diamonds and jewellery.

 

 

Employees:

3

 

 

NOTES:

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List

 

Country Name

Previous Rating

(30.06.2017)

Current Rating

(30.09.2017)

United Arab Emirates

A2

A2

 

Risk Category

ECGC

Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

 

UNITED ARAB EMIRATES - ECONOMIC OVERVIEW

 

The UAE has an open economy with a high per capita income and a sizable annual trade surplus. Successful efforts at economic diversification have reduced the portion of GDP based on oil and gas output to 25%.

Since the discovery of oil in the UAE more than 30 years ago, the country has undergone a profound transformation from an impoverished region of small desert principalities to a modern state with a high standard of living. The government has increased spending on job creation and infrastructure expansion and is opening up utilities to greater private sector involvement. The country's free trade zones - offering 100% foreign ownership and zero taxes - are helping to attract foreign investors.

The global financial crisis of 2008-09, tight international credit, and deflated asset prices constricted the economy in 2009. UAE authorities tried to blunt the crisis by increasing spending and boosting liquidity in the banking sector. The crisis hit Dubai hardest, as it was heavily exposed to depressed real estate prices. Dubai lacked sufficient cash to meet its debt obligations, prompting global concern about its solvency and ultimately a $20 billion bailout from the UAE Central Bank and Abu Dhabi Government that was refinanced in March 2014.

Dependence on oil, a large expatriate workforce, and growing inflation pressures are significant long-term challenges. Low oil prices have prompted the UAE to take steps to reduce its social spending, including eliminating fuel subsidies in August 2015, but the UAE has sufficient assets to cover its deficits with money from its sovereign investment funds. The UAE's strategic plan for the next few years focuses on economic diversification and creating more job opportunities for nationals through improved education and increased private sector employment.

 

Source : CIA

 

 

 

 

SUMMARY

 

Company Name                                    : AKSHAR IMPEX DMCC

Country of Origin                                   : Dubai, United Arab Emirates

Legal Form                                           : Limited Liability Company

Registration Date                                  : 1st November 2011

DMCC Number                                      : 2889

Trade Licence Number                           : 31954

Issued Capital                                       : UAE Dh 100,000

Paid up Capital                                     : UAE Dh 100,000

Total Workforce                                                : 3

Activities                                               : Distributors of Diamonds and Jewellery

Financial Condition                                : Undetermined

Payments                                             : Nothing Detrimental Uncovered

Person Interviewed                                : Akshar Kanstiya, Managing Director

 

 

 

COMPANY NAME

 

 AKSHAR IMPEX DMCC

 

 

ADDRESS

 

Registered & Physical Address

 

Building            : 80K2 AG Tower (Silver Tower), Plot No. 15

Area                 : Jumeirah Lakes Towers

 

PO Box                        : 625773

 

Town                : Dubai

Country : United Arab Emirates

 

Telephone         : (971-4) 4430791 / 4249600

Facsimile          : (971-4) 4560312

Mobile              : (971-55) 3289575

Email                : aksharimpexdmcc@gmail.com

 

Please note that subject’s previous address was, 19C, AU Tower, 19th Floor, Jumeirah Lakes Towers, Dubai.

 

Premises

 

Subject operates from a small suite of offices that are rented and located in the Central Business Area of Dubai.

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Akshar Kanstiya                                                                               Managing Director

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1st November 2011

 

Legal Form                  : Limited Liability Company

 

DMCC No.                    : 2889

 

Trade Licence No.        : 31954

 

Issued Capital              : UAE Dh 100,000

 

Paid up Capital            : UAE Dh 100,000

 

Name of Shareholder (s)                                                    Percentage

 

·       Rathlin Ltd                                                                            100%

British Virgin Islands                                                                        

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of diamonds and jewellery.

 

Import Countries: Europe and the Far East

 

Subject has a workforce of 3 employees.

 

 

FINANCIAL DATA

 

Companies registered in Dubai, United Arab Emirates are not legally required to make their accounts public and no financial information was released by the company or submitted by outside sources.

 

 

BANKERS

 

·       Middle East Bank Ltd

Arbift Tower

Baniyas Street

PO Box: 5547

Dubai

Tel: (971-4) 2220121

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

According to local sources, subject enjoys a good reputation for the quality of its products with nothing detrimental uncovered regarding the manner in which operations are conducted. As such the company is considered to be a fair trade risk.

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 63.77

UK Pound

1

INR 89.20

Euro

1

INR 78.22

UAE

1

INR 17.33

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

NIT

 

 

 

 

 

 

                                                

 

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