Offshore License
Licensing / Offshore License
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 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. Confident Business LLC 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 Confident Business LLC 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 endeavour in the UAE. And they are:
- Jebel Ali Free Zone (JAFZA)
- Ras Al Khaimah (RAK)
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.
- 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.
- For business set up, the minimum capital prerequisite is not mandatory.
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
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
Offshore Company License In UAE
An offshore company is preferred by those entrepreneurs and investors who need business confidentiality and asset protection. Offshore companies are also called Non-Resident companies and are not allowed to perform business transactions in the UAE. There are two jurisdictions that offer Offshore Company formation in the UAE. And they are JAFZA (Jebel Ali Free Zone Authority) and RAK (Rasal Al-Khaimah). Offshore companies require an Incorporation certificate to initiate the operations.
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Benefits of offshore company Setup in Dubai
Setting up an offshore company is relatively easier than other business types in Dubai. The process is also very simple and straightforward.
Foreign investors can enjoy 100% ownership of offshore companies and do not require a physical location, unlike other business types.
The details or names of the shareholders or directors don’t have to be disclosed during company formation. Jebel Ali company formations are ideal for foreign investors who want to maintain anonymity in their operations.
Dubai offshore companies are legally exempt from taxes which is one of the reasons why investors choose to do business in the UAE.
Foreign investors can open multi-currency accounts which are beneficial for international business transactions.
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FAQ
Frequently Asked Questions on Offshore Licensing in Dubai, UAE
An offshore company possesses several advantages. Some of those are:
- 100% exemption from corporate and personal tax
- 100% ownership to expatriates
- Quick business set up
- Low cost of establishment
- No mandatory requirement regarding bank account in the UAE
- No audit of accounts and financial documents by the government
- No restriction concerning the nationality of the ex-pat
- You don’t have to be present in UAE for the operation of the offshore company
- Own current accounts in the UAE
- Absolute confidentiality
- A big market available for the company
- Assured growth with the support of the visionary political regime
The offshore company formation formalities are quick and easy. The supportive regime will help you to complete the process. Ideally, it will take one week for completing all the official formalities. Some offshore jurisdictions, it may take up to a month. Our professionals will conclude the process in quick time on behalf of you. Thereby, you can commence business operations at the earliest.
There’s no such requirement in general. However, your physical presence is mandatory in a few offshore jurisdictions. You have to sign in presence of the authority.
Not necessary. Your company can have an account anywhere in the world. However, starting a bank account in the UAE will be beneficial for your firm. Banks in the UAE offers exclusive benefits for the corporate accounts of offshore companies.
Not necessary. Your company can have an account anywhere in the world. However, starting a bank account in the UAE will be beneficial for your firm. Banks in the UAE offers exclusive benefits for the corporate accounts of offshore companies.
Offshore companies are not authorized for issuing a visa. Only Mainland and Free Zone companies in Dubai/ UAE can issue a resident visa. You may have to set up a company in Free Zone or Mainland jurisdiction if you are planning to get a resident visa or envisage recruiting foreign employees in your company.