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.
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.