Offshore Company Setup

Offshore company formation in Dubai

UAE offshore company in Dubai can exercise practically any business whereby such business must be outside of the country.  The UAE offshore company is not allowed to do business in the United Arab Emirates except holding a corporate account and have communication with the local registered agent for the purposes of company administration.This legal entity cannot import any goods into the UAE market; it cannot lease office or other commercial premises or apply for residency visas for its shareholders and directors. Thus this type of legal entity is different from onshore companies in the United Arab Emirates free trade zones and has the much lower price that the onshore company.

Offshore Company Formation in Dubai
Offshore Company Formation in Dubai

There are two major free zone for offshore company like RAKICC (Ras Al Khaimah Corporate Center) and JAFZA (Jebel Ali Free Zone). This is a different type of legal firm governed by different corporate body. The offshore firm is the legal entity that is registered for the purposes of operations outside of the country and cannot be transformed into the UAE onshore company.

Main reasons for Offshore company formation in Dubai

There are several reasons to register Dubai offshore company. Apart from being the tax-free corporate entity and its low-price incorporation of this firm, it differs from available alternatives in other such countries as, for instance, Singapore, Belize or Panama.

• An immense number of visitors travel to the UAE on the yearly basis for business and holidays. The visit to the UAE does not attract any unnecessary attention. Moreover, apart from just visiting a county for company registration and account opening, you can always meet potential business partners or see a number of wonderful places. Thus each trip to Dubai will be useful and enjoyable;

• UAE offers a great choice of banks where UAE offshore companies can open its account which is highly valuable and important point to be considered. For this reason, each type of business can choose a bank in Dubai which fits its requirements at best.

• Practically everyone in the UAE speaks English and all the documents – corporate, banking, etc. – are available in English. There is no requirement to translate any documents or to understand the verbal and written communication;

• UAE economy is one of the promising economies with great future development;

• The UAE offers various types of business establishments, and the UAE offshore companies do not attach as much attention as, for instance, Seychelles or Panama which are mainly directly associated with the offshore business;

• The Dubai offshore incorporation is very fast, the related costs are not high, and the further administration and renewals are done without any difficulties as all these points are completed by the company’s registered agent.

There are several advantages and reasons to register the UAE offshore company. Below we provide top eight advantages:

  • No taxation in the UAE;
  • Can be registered just in 2 days;
  • Full foreign ownership;
  • Corporate bank account in the country;
  • No audit reports;
  • Offshore Companies registry is not public;
  • Clear and stable corporation law;
  • Low price for ICC registration

UAE Offshore company registration provides a number of benefits. Below are some of the facts on this company type.

  • 100% UAE tax and duty free on all sort of income;
  • The timeline for Dubai company formation – express formation in 2 days;
  • Price for IBC / ICC firm registration and renewal is highly attractive;
  • The least number of shareholders and directors is one;
  • Corporate shareholders from UAE and abroad are permitted;
  • One hundred percent foreign ownership is allowed;
  • Company owner need not to be the UAE resident;
  • The offshore company’s registry is not accessible by public;
  • The share capital of the company can be any amount in any currency;
  • Not mandatory to deposit share capital in a bank;
  • The registered agent is required to incorporate offshore company in Dubai;
  • Offshore entity registered address is to be in the UAE;
  • The corporate address in Dubai will be provided by the offshore legal
  • Audited financials for IBC are not required whereby financial records are to be kept;
  • Easy Opening of company bank account in Dubai, the UAE is an advantage.

In general, the entire registration procedure when supported by the qualified registered agent is fast and non-complicated. Depending on the type of shareholders – individual or corporate – the required documents for registration are correspondingly different. The registration price of registration by corporate and individual shareholders is same, however, in case of corporate shareholders; there would be additional costs for preparing documents of the corporate shareholder. Offshore company formation in Dubai, UAE with Individual Shareholders

  • Copy of passport – original to be provided at the time of account opening in the UAE
  • Proof of residential address– in the form of a utility bill from home country
  • Professional profile with the available business experience
  • Letter from a bank in the form of a reference letter – sample can be provided

We provide assistance in choosing company name.Offshore company in Dubai, UAE with Corporate Shareholders.In the event of corporate shareholders of the UAE offshore company the following documents, apart from the documents on the beneficiaries of the corporate entity, are to be provided:

Complete set of incorporation documents – memorandum, incorporation certificate, etc; Good standing certificate;Shareholder Resolution to become the shareholder in the UAE offshore company; Documents on corporate shareholder directors; Reference letter from a bank along with the bank statement.Incorporation Procedure And The Offshore Company Name Ideally, the name of the Dubai offshore company shall reflect the corporate activities whereby, when choosing a name, there are very few restrictions means the UAE firm can have nearly any name. The restrictions include the following points: it is not permitted to use the words: banking, insurance, reinsurance and similar. It cannot use the names of the cities of the United Arab Emirates as well as the UAE itself, and the name shall not be associated with any type of government entity of the UAE. Moreover, the offshore company name cannot be the same as of a firm which is already opened and available in the companies’ registry. At the end of the name, the Company shall have abbreviation ‘Limited” or “Ltd”. For instance, when you like a certain business name, there is the option to reserve its name in the registry by making the respective application over us as the registered offshore company agent.

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