Offshore Company Formation in Dubai, UAE
An offshore company in Dubai is a business establishment that conducts its operation outside of the location of its origin or original location of registration. With the rise of offshore company formation in Dubai, UAE in 2003, the UAE has become a perfect hub for businesses across the world. Entrepreneurs and investors may have multiple intentions behind forming an Offshore company.
Offshore company formation in the UAE helps one to have 100% ownership in their assets in UAE and run their business in a profitable way. Some of the reasons to opt for an offshore company formation in the UAE:
- To enjoy monetary benefits like tax exemptions
- To garner international funding
- To enjoy the benefits of investor-friendly laws and regulations
- Future plans for business expansion.
- To facilitate international trade
- Both the individuals and corporates can enjoy the ownership rights of an Offshore company. The company’s operations or business transactions in its country of registration is limited. Apart from mainland company formation and free zone company formation, the license issuance process is not applicable for Offshore company formation in UAE. Instead, the authorities issue a certificate of Incorporation. For the same reasons, you may accomplish the offshore business set up services in the UAE without any delays. Offshore companies are governed by international laws. Create Biz consultants have adequate experience and expertise in guiding you through the Incorporation formalities. The company incorporation should satisfy the purpose of your business. Our experience in the business domain, contacts with the UAE authorities help us figure out your business purpose.
- With assistance from Create Biz consultants, the Offshore Company Incorporation can be accomplished within a day or two. Get in touch with our advisors now for outstanding offshore business set up services in UAE! The investors have two different jurisdictions for setting up an Offshore endeavor in the UAE. And they are:
- Jebel Ali Free Zone (JAFZA)
- Ras Al Khaimah (RAK)
Benefits of Offshore company formation in Dubai
A Free zone company shares many benefits of an Offshore company. Both the Free zone and Offshore companies may seem identical, but they are not. Offshore company formation offers many benefits for foreign investors. And the major benefits are:
- 100% tax exemption is one of the major benefits of forming an Offshore company. Offshore company jurisdictions are devoid of personal tax, corporate tax, and income tax.
- Zero import and export duty.
- Offshore companies provide 100% foreign ownership benefits.
- Investors enjoy full repatriation benefits when it comes to profits and capital.
- A physical office is not mandatory. The investors can save the business set up cost related to office requirement.
- The investors can enjoy business anonymity and confidentiality on monetary matters.
- Offshore company formation allows hassle-free international transactions.
- Offshore jurisdictions are devoid of currency regulations.
- Enhanced scope of business expansion.
- When it comes to shareholder requirements, offshore company formation permits a single shareholder.
- For business set up, the minimum capital prerequisite is not mandatory.
Documents Required for Offshore Company Formation in UAE
The documents required for offshore company formation in Dubai are appended below:
- Application in the requisite format
- Address proof
- Documents from Bank indicating the details and bank reference letter
- Copies of passports of owner and shareholders
- Copy of passport of the designate manager
- Notarized Memorandum of Association (MOA)
- Business plan
- Curriculum Vitae indicating the owner’s professional data
Additional Aspects Concerning Offshore Companies in Dubai
The registration of a company in Dubai offshore necessitates certain aspects. Pursuing the laid down requirements meticulously will ensure that you receive your business license at the earliest. And your offshore company in Dubai can commence full-fledged business activities. Additional aspects concerning offshore companies in Dubai are as follows:
- The offshore company can have a non-UAE resident also as a director. However, the manager (designated) must be a UAE resident
- Offshore companies are not authorized to carry out businesses in banking, insurance and real estate sector
- Physical office is not permitted for Offshore company in the UAE
- There’s no annual governmental audit
- UAE resident visa is not permissible
- Offshore company is unauthorized to carry out business in Dubai Mainland
- An Offshore company can hold shares in other companies as well