Offshore Company Setup in Dubai

All about setting up an offshore business in the UAE

An offshore business is formed to operate outside the country where it is registered. In some countries, especially the United Arab Emirates, there are very few corporate regulations, and moderate management costs including business growth, modern infrastructure, growing economy, and many other things. And, this is why UAE makes the investors desirable to create an Offshore Company Setup in UAE.

In general, and according to the law, an offshore business must have an agent that acts as a link between the government, and the business. Many investors open offshore companies because of low taxes, freedom from government regulation, and ease of making international transactions, and multi-currency replenishment of accounts outside countries.

Offshore Company Setup in Dubai

Rules for creating an offshore business in the UAE

Before you start creating your offshore business, you need to follow these steps –

·         At least two people, a director and a shareholder.

·         Capital is not limited to minimum. All shares must be distributed, and paid in full.

·         A registered agent must be appointed by the company. You can open a corporate bank account in the state.

·         Verified financial data is not needed, but in some cases it may be required.

·         100% exemption from taxes and duties is present, and 100% foreign ownership is permitted.

Before you start an Offshore Business, you must have an offshore bank account. You will need a valid passport, bank statement for six months, and duly certified bank forms. After opening an account, you can go ahead and apply for the opening of an offshore company.

Do you know the requirements?

Before starting, there are certain requirements that you must fulfil. For example –

·        You should check the name of the company. The name should describe what the company is about.

·         If you already have a name, you should check the Offshore Company Registration. Shareholders can be legal entities, or individuals. There are no restrictions on the basis of citizenship or, place of residence. 

·     All shareholders, including directors, must provide their valid copies of the passport, and all valid evidence of residence status. These may be company account statements and utility bills. They should also include the original bank approval letter. 

       

     The advantages of creating an offshore business in the UAE

There are many advantages to creating an Offshore Business. There is jurisdiction to protect of offshore companies. It provides a strong and reliable platform for investors compared to local residents. This allows them to create a “legal wall” that protects company assets from their creditors. Offshore Business Setup in the UAE is not taxed. This means that business people make full profit. This encourages more and more interested parties to invest in the region. Therefore, creating a better economy, and more commercial benefits. In addition to exemption from taxes, the state also allows full foreign ownership of the business.

Off shored Company are approved by the relevant authorities. They allow the business to transfer money internationally. Offshore companies are quicker to register and set up.

We hope this article will help you to create your own offshore business in the UAE.