OFFSHORE BUSINESS SETUP IN DUBAI
WHAT IS AN OFFSHORE COMPANY?
Any corporate entity which can operate only outside the country of its incorporation, but permitted to trade with established domestic companies that have been formed within the same authority are named as an Offshore Company. The company must operate under the tax regime of the jurisdiction of incorporation.
An offshore company can be owned by individuals or corporate bodies and is a business entity which does not carry out any substantial business activity in its country of origin. Also known as non-resident company, an offshore company cannot occupy an office space in Dubai.
Offshore companies are normally formed in a jurisdiction where taxation is much lower and reporting restrictions far more flexible. Other common name for this type of company is,
- Non-resident Company
- International Business Company
- International Business Corporation
WHY CHOOSE OFFSHORE FOR BUSINESS SETUP IN DUBAI
Setting up a company in the United Arab Emirates offers endless possibilities for international entrepreneurs and investors.
An Offshore IBC is an entity (or Company) that can only operate outside the country of its incorporation, but can deal with established domestic Companies that have been formed within the same jurisdiction. It is regulated by, and must operate under the tax regime, of the incorporating jurisdiction. There are many features and benefits associated with the establishment of an offshore company, and every individual or organisation has their own specific reasons to set up in this way.
- Tax savings
- Confidentiality
- Simplicity
- Cost effectiveness
Why Trust Us to Setup Your Offshore Business in Dubai
Setting up a business in Dubai becomes a very complex job if you don’t work with the right people.Evergreen Businessmen Service will provide you with quality, timely and convenient professional services. With over 10+ years of experience, we have helped more than 240 businesses in company formation in Dubai and UAE. With all the relevant expertise and process & compliance knowledge, we become a favourite choice of all clients for Offshore Business setup.
Advantages of Offshore Business Setup in Dubai
Offshore Business Setup in Dubai offers you more than just tax saving.
An Offshore Company supports you in establishing your company abroad in a stable manner and assists you in opening an offshore bank account so that you can start operating seamlessly. A company in Dubai enjoys the best international reputation, since a business in Dubai is something completely legitimate without having the bitter taste of a tax haven.
Entrepreneurs, start-ups or a big MNC opt for an offshore shore company as it gives them an easy access to another jurisdiction without unwarranted red tape and bureaucracy. An offshore company in the UAE attracts many new entrepreneurs due to minimum setup cost and other related expenses.
Offshore Business Setup in Dubai offers you more than just tax saving.
An Offshore Company supports you in establishing your company abroad in a stable manner and assists you in opening an offshore bank account so that you can start operating seamlessly. A company in Dubai enjoys the best international reputation, since a business in Dubai is something completely legitimate without having the bitter taste of a tax haven.
Entrepreneurs, start-ups or a big MNC opt for an offshore shore company as it gives them an easy access to another jurisdiction without unwarranted red tape and bureaucracy. An offshore company in the UAE attracts many new entrepreneurs due to minimum setup cost and other related expenses.
Key Benefits of an Offshore Business Setup in Dubai
- Proximity to the Gulf and global markets.
- Swift incorporation within 2-3 working days.
- The minimum number of company directors or shareholders required to form an offshore company is just one.
- Low operational costs, with world-class banking and investment management services.
- Simplicity in international operations.
- Easiness in opening a corporate bank account in Dubai
- Complete anonymity, confidentiality, and privacy in operations
Detailed Advantages of Setting up OffShore Company in Dubai
- 100% foreign ownership is allowed
- No necessity for finding a UAE national a shareholder or sponsor
- There is no public register of company officers
- Complete anonymity and privacy
- Company can own real estate properties on approved areas by the Authority
- Hold multi-currency bank accounts
- The offshore company is exempted from all corporate and income taxes
- There are no foreign currency restrictions
- Full repatriation of the profits and capital are allowed
- The setting-up costs are comparatively less
- There is no onshore office and accordingly, there are no employees and related costs
- Only minimum capital is required to set-up offshore company.
- Minimum of 1 Director / Shareholder
INCORPORATION PROCESS – OFFSHORE BUSINESS SETUP IN DUBAI
There are a number of issues to consider prior to commencing an incorporation and, as a highly experienced, fully government registered and licensed Agent, will be happy to provide you with guidance and advice on navigating through the whole process.
Choosing a name for your offshore Company is the first element to consider. It is always best to select three names in order of preference, to ensure that the name has not been previously allocated, and to choose the correct ‘suffix’ for your company… (Ltd., LTD., Limited and LIMTED are all allowable in the UAE).
It is not a government requirement for shareholders and directors to be present when signing incorporation documents.
Local regulations only require one Shareholder, one Director and one Secretary – each of which can be an Individual or Corporate entity.
Issued shares can be in any currency and are usually on a ‘non paid up’ basis, allocated to shareholders in the denomination of your choice
- Advisory services
- Buying, holding or selling stakes of companies
- Commission Agents or intermediary brokers (IBs)
- Consulting services
- General trading activities
Frequently Asked Questions about OffShore Business Setup in Dubai
Generally formation of an Offshore company roughly takes 5-6 Business days. There are express services available too, Express service charges are slightly higher.
Dubai IBC registration can be done without visiting UAE However, a 1 day visit may be required to register a bank account, which can ease the Incorporation process too.
No, Offshore company does not provide this option.