Service Terms

1. DEFINITIONS

“Client” means the owner or owners of the Company or Person or Persons authorized by the owner(s) who have requested PIC to provide Services to the owner(s) or authorized person(s) of the company and in the case of more than one owner or person mean such owners or persons jointly and severally.

“Client’s Appointees” means any and all persons who may from time to time be nominated, appointed or act as director, alternate director, secretary, manager, partner, trustee, protector, bank signatory, other officer, grantee of a power of attorney, administrator, registered agent, or provider of a registered office, address for legal service, or registered shareholder of the Company.

“PIC” means PIC Consulting and all companies member of the PIC Network.

“Company” means any company, trust, foundation or other legally recognized structure established and/or administered by PIC.

“Person” means any individual, firm, company or other body incorporated or unincorporated.

“Services” means, but are not limited to, company formation, management, administration, registered agent, company secretarial, nominee directors or shareholders, bank or brokerage introductions, trustee, tax or legal advisory and other related services provided by PIC to Client’s Company.

1. PROVIDED SERVICES

PIC reserves the right to discontinue providing Services and ceasing to act without notice for any Client if any Client is or becomes an Excluded Person or engages in any illegal or barred activity. An Excluded Person includes those who have been imprisoned or found guilty of any criminal offence; Persons who have been proven to have acted in a fraudulent or dishonest manner in any civil proceedings; and Persons who have acted in any manner displaying moral turpitude. Illegal or barred activities include illegal or other activities related to money laundering, receiving the proceeds of drug trafficking, terrorist activities or criminal activities or trading with such countries which have been excluded by banks and financial institutions of UAE.

Business activities not approved by PIC include, but are not limited to, industrial espionage, trading in arms and weapons, human beings, human or animal organs, biological substances or nuclear materials, pornography and any other purpose which is illegal under the laws of any place of incorporation or establishment of the Company or place in which it carries on business or other purposes deemed unacceptable to PIC. 

III. FEES AND DIRECT COSTS

Client undertakes to make payment of the negotiated and agreed Fees for Services charged by PIC or of any of its related company upon Client receiving an invoice from PIC for the same. Fees are as stated in the fee quote sent by PIC to the Client. In addition to the fees announced to the Client in the invoice, PIC may send additional invoices for Services which have not been foreseen but which have proved necessary as the Services have been carried out. PIC undertakes to inform the Client before sending an additional invoice, in order to obtain the Client's consent.

Client undertakes to pay PIC in advance all costs, government duties, license fees or government fees of any nature relating to the Company. PIC will not be liable for any penalties, fines or other liabilities incurred by the Client or by the Company, and the Client accepts full responsibility to pay these and indemnify PIC against any liability in respect of the same.

In the event Client fails to settle immediately the invoices issued by PIC, then Client authorizes PIC to deduct the Fees, Direct Costs and other fees from any account or funds under the control of PIC that belong to the Client.

PIC reserves the right not to provide Services or to act on Client’s instructions. If PIC ceases to provide Services or ceases to act for any reason whatever, PIC will refund money paid for the said non executed Services, except disbursements already paid as government duties, license fees or government fees.

1. REGISTERED OFFICE

No reference shall be made to the registered office address(es) and correspondence address(es) provided by PIC to Client’s Company in any marketing or corporate materials, advertisements or public announcements without the specific written consent of PIC.

PIC may move its offices to another location and such a move may require changing of the registered office address(es) of the Company. PIC undertakes to give Client as much advance notice as possible of any such move, but it will not accept responsibility for any costs incurred by the Client as a result thereof.

1. CLIENT’S RESPONSIBILITIES

Client shall provide PIC with a copy of his/her passport for PIC’s records. PIC shall retain the copy of Client’s passport in strict confidence unless required to disclose the same to a bank or brokerage firm to open an account or by a competent court of law or otherwise instructed by the Client.

Client shall provide PIC with updated contact details and instructions regarding restrictions on communication matters.

The information and documents given by the Client will be considered as true and PIC will not proceed to any verification of their validity. In case of forgery, PIC is not responsible.

Client shall not involve the Company in any unlawful act or undertaking as the same may be defined in various jurisdictions in which Client’s Company does business. It shall be Client’s sole responsibility to determine whether any such acts or undertakings are unlawful. PIC shall not be responsible for any unlawful act or undertaking in which the Client or Client’s Company has been engaged.

Client shall ensure that he has checked his situation in his home tax country and shall not commit any offense or fraud. Tax evasion is the illegal practice of not paying taxes, by not reporting income, reporting expenses not legally allowed, or by not paying taxes owed. PIC expressly disclaims any liability about Client not reporting tax in his home country.

Client shall ensure that the Company has sufficient funds to meet its commitments to PIC and other third party suppliers of services and/or products in a timely manner. PIC shall not be responsible for financial commitments of Client’s Company.

PIC expressly disclaims any liability to the Client, the Company, and any third parties for any damage or loss to the Client, the Company or any other Person arising out of the use of the Company and/or Services by the Client or any other Person.

Client shall indemnify and hold harmless PIC, its affiliates and their directors, officers, employees and agents from and against all claims, actions, costs (including legal) and liabilities arising out of or relating to these Service Terms and the Services provided to the Company.

1. CONFIDENTIALITY

PIC will not divulge to any third party any information concerning the Company, its Owners, its Directors and Shareholders, without the prior consent of the Owner. This clause is inapplicable when PIC is compelled by law to disclose such information. 

VII. GENERAL PROVISIONS

All instructions or requests concerning the affairs of the Company shall be given by the Client in writing to PIC. PIC may, at its sole discretion, agree to take action on any request or instruction given otherwise than in writing only on the express understanding that PIC shall not be liable in respect of any misunderstanding or error regarding the same.

All communications in relation to the administration of the Company shall be deemed to have been properly communicated to the Client if sent to the postal address or email address as notified to PIC by the Client.

PIC shall not be liable for any failure to comply wholly or in part with any instructions received from the Client and shall not be responsible for consequences arising from non-receipt of instructions for any reason.

PIC is not responsible for non-bank account opening. PIC only provide assistance with banks and shall not be liable for any failure or issue concerning bank account opening or closure.

PIC provides information in its brochure, World Wide Web site and other materials regarding corporate services and commercial matters. Such information does not purport to be legal, tax or other professional advice.

Where PIC receives mail, whether by the postal service, courier or other means on behalf of Client, PIC reserves the right to inspect the contents of such mail.

VIII. VALIDITY

These Service Terms supersede all prior Service Terms whether oral or written and no prior notice is required to be given to Client or potential Clients.

1. TERMINATION OF SERVICES AND AGREEMENT

Any and all obligations of PIC shall cease forthwith if the Client shall fail to observe these Service Terms or if it comes to the attention of PIC that the Company is being used for activities other than the nature of business to be undertaken by the Company as provided by the Client in the company order.

1. DISPUTE RESOLUTION

Any dispute arising out of or in connection with this contract, including any question regarding its existence, validity or termination, shall be subject to the exclusive jurisdiction of the DIFC Courts. This contract shall be governed by and construed in accordance with the law of Dubai.

DISCLAIMER

In this website, all information is for general guidance on matters of interest only. The application and legal impact can vary widely based on the specific facts involved. Given the changing nature of laws, rules and regulations, and the inherent hazards of electronic communication, there may be delays, omissions or inaccuracies in the information contained in this site and accordingly, the information is provided with the understanding that the authors and publishers are not herein engaged in rendering accounting, tax, legal or other professional services. As such, it should not be used as a substitute for consultation with professional advisers. Before any decision or action, you should consult PIC.

While every attempt has been made to ensure that the information contained in this site is from reliable sources, PIC is not responsible for any mistakes or omissions, or for the results obtained from the use of this information. All information in this site is provided “as is”, with no guarantee of completeness, accuracy, timeless or of the results obtained from the use of this information, and without warranty of any kind, express or implied, including, but not limited to warranties of performance, merchantability and fitness for a particular purpose. In no circumstance will PIC, its related partnerships or corporations, or the partners, agents or employees thereof be liable to you or anyone else for any decision made or action taken in reliance on the information in this site or for any consequential, special or similar damages, even if advised of the possibility of such damages.

There are certain links in this site connecting to other websites maintained by third parties over whom PIC has no control. PIC makes no representations as to the completeness, accuracy or any other aspect of information contained in other websites.

PRIVACY POLICY

Updated August 19th, 2023 to be GDPR compliant.

The Website is comprised of various Web pages operated by PIC Consulting (hereafter PIC).

PIC website is offered to you conditioned on your acceptance without modification of the terms, conditions, and notices contained herein. Your use of the website constitutes your agreement to all such terms, conditions, and notices.

This Statement of Privacy applies to the PIC website and governs data collection and usage.

COLLECTION OF YOUR PERSONAL INFORMATION

PIC collects personally identifiable information, such as contact details (including your e-mail address, name, home or work address or telephone number). PIC also collects anonymous demographic information, which is not unique to you, such as your ZIP code, country, age, gender, preferences, and interests.

There is also information about your computer hardware and software that is automatically collected by PIC. This information can include: your IP address, browser type, domain names, access times and referring website addresses. This information is used by PIC for the operation of the service, to maintain quality of the service, and to provide general statistics regarding use of the PIC website.

Please keep in mind that if you directly disclose personally identifiable information or personally sensitive data through PIC contact and/or quotation forms, this information may be collected and used by the officers of PIC or its associates and authorized users.

PIC is not responsible for the privacy statements or other content on websites outside of the PIC website.

USE OF YOUR PERSONAL INFORMATION

PIC collects and uses your personal information to operate the PIC website and deliver the services you have requested. PIC also uses your personally identifiable information to inform you of other products or services available from PIC and its affiliates. PIC may also contact you via surveys to conduct research about your opinion of current services or of potential new services that may be offered.

PIC secures your personal information from unauthorized access, use or disclosure. PIC secures the personally identifiable information you provide on computer servers in a controlled, secure environment, protected from unauthorized access, use or disclosure.

PIC does not sell, rent or lease its customer lists to third parties. PIC may, from time to time, contact you on behalf of external business partners about a particular offering that may be of interest to you. In those cases, your unique personally identifiable information (e-mail, name, address, telephone number) is not transferred to the third party. In addition, PIC may share data with trusted partners to help us perform statistical analysis, send you email or postal mail, provide customer support, or arrange for deliveries. All such third parties are prohibited from using your personal information except to provide these services to PIC, and they are required to maintain the confidentiality of your information.

PIC website will disclose your personal information, without notice, only if required to do so by law or in the good faith belief that such action is necessary to: (a) conform to the edicts of the law or comply with legal process served on PIC or the site; (b) protect and defend the rights or property of PIC; and, (c) act under exigent circumstances to protect the personal safety of users of PIC, or the public.

USE OF COOKIES

The PIC website use “cookies” to help you personalize your online experience. A cookie is a text file that is placed on your hard disk by a Web page server. Cookies cannot be used to run programs or deliver viruses to your computer. Cookies are uniquely assigned to you, and can only be read by a web server in the domain that issued the cookie to you.

One of the primary purposes of cookies is to provide a convenience feature to save you time. The purpose of a cookie is to tell the Web server that you have returned to a specific page. For example, if you personalize PIC pages, or register with PIC site or services, a cookie helps PIC to recall your specific information on subsequent visits. This simplifies the process of recording your personal information, such as billing addresses, shipping addresses, and so on. When you return to the same PIC website, the information you previously provided can be retrieved, so you can easily use the PIC features that you customized.

You have the ability to accept or decline cookies. Most Web browsers automatically accept cookies, but you can usually modify your browser setting to decline cookies if you prefer. If you choose to decline cookies, you may not be able to fully experience the interactive features of the PIC services or websites you visit.

CHANGES TO THIS STATEMENT

PIC will occasionally update this Statement of Privacy to reflect company and customer feedback. PIC encourages you to periodically review this Statement to be informed of how PIC is protecting your information.

CONTACT INFORMATION

PIC welcomes your comments regarding this Statement of Privacy. If you believe that PIC has not adhered to this Statement, please contact PIC at contact@picmiddleeast.com We will use commercially reasonable efforts to promptly determine and remedy the problem.