OFF-SHORE COMPANY OFF-SHORE COMPANY OFF-SHORE COMPANY DUBAI, UAE SETTING UP AN
OpeningaUAEoffshorecompanyisahighlypopularoptionforinvestorslookinginto foreigntradeexpansion.AoffshorecompanysetupDubaiisideal,taxefficient,and cost effective. Offshore companies are also known as non-resident “paper” companies . They let entrepreneurs operating in MENA (Middle East & North Africa) regionsthathavenoadministrativeobligations.Additionally,offshorebusinessesare fullownershipLimitedLiabilityCompaniesthatareexemptfromtaxesandhavezero annualaccounting&taxobligations. Internationaltrading Holdingcompany Shippingcompany Owningrealestate Registeringcopyrights&patents Internationalconsultingservices Offshorecompaniesoftenfulfillthefollowingpurposes:
Regulations for international company registration
Even though the UAE offshore company incorporation process is straight-forward, corporate entities need to keep certain aspects in mind:
First, there is no minimum share capital requirement
You will need at least one shareholder and director
At the time of allocation, all shares must be fully paid. UAE does not allow bearer shares or differential classes of shares. However, investors do not need to deposit their capital in banks.
UAE allows for 100% foreign ownership of your offshore company incorporation along with 100% tax and duty exemption costs. You will be eligible to open a corporate bank account in Dubai, UAE
A Dubai offshore company must appoint a registered agent in the form of legal firms, auditors, consultants etc., from a pre-approved list maintained by UAE free zones.
A UAE offshore company falls under the domicile of UAE free zones
Dubai offshore company incorporation can be done remotely without the physical presence of the investors. However, documents will have to be signed in the registered agent’s office only.
In case of suspicions arising, the authorities concerned can request audited financial statements.
Dubai
Foreign entities may have several reasons to register their Dubai offshore company. Some of the chief benefits of an offshore corporatestructureare: They allow entities a foot into international market expansion Stability and access to an economically friendly legal system Flexible regulatory structure Tax neutrality in international earnings in terms of personal or company income, capital gains, inheritance taxes etc. (dependent on jurisdiction) Increased access to global funding Separation and protection of assets (like intellectual property) from operating entities
TheUAEhasthreeprincipaljurisdictionsthatallowoffshorecompany formation:
JebelAliFreeZoneAuthorities(JAFZA)
RasAlKhaimah(RAK) AjmanFreeZone
Ofthese,RAKandJAFZAarethemostpopular.Bothare“taxfree” jurisdictions and permit 100% foreign ownership. Additionally, the UAE has Double Tax Treaty agreements with over 90 countries.
Offshore companies can also open multi-currency accounts in the UAE while doing business internationally. However, they may not be able to perform business activities with UAE residents or havephysicalpremiseswithintheUAE.
international company incorporation: Features & benefits The Jebel Ali Free Zone Authority (JAFZA), in accordance with the Dubai government, initiated Offshore Company incorporation in 2003 under Jebel AliFreeZoneOffshoreCompaniesRegulations2003.
JAFZA
JAFZA offshore company formation: Key features Offshorecompaniesrequireaminimumof1shareholderandalsopermitcorporate shareholders.Incasethereareinternationalcorporateshareholders,theyneedto haveattestedcompanydocuments Youneedtohaveatleasttwodirectorsandcorporatedirectorsarenotallowed.The detailsfordirectorsarenotpresentonpublicregisters Alloffshorecompaniesmusthaveasecretary.Acompanydirectorcanalsoactasa companysecretary JAFZAdoesnothaveanyminimumsharecapitalrequirements AllJAFZAoffshorecompaniesneedtomaintainaccountingrecordsdatingbackupto 10yearsfrompreparation.Additionally,acompanyauditorfromanapprovedlist mustexamineandreporttheseaccounts
100%foreignownershipofyouroffshorebusiness FullpermissiontoownrealestateinDubai(freezoneanddeveloper permissionrequired) PermissiontoownsharesinfreezoneandonshoreLLCcompanies Holdmulti-currencybankaccountforinternationaltransactionsalso Shareholdersanddirectorscanchoosenottodisclosethemselveson apublicregister JAFZA OFFSHORE COMPANY FORMATION: BENEFITS
RAK international company incorporation: Features & benefits The Ras al Khaimah government launched theInternationalCompanyStructurein2006. Also known as the RAK Offshore Company, theyfallundertheregulatoryauthorityofRas Al Khaimah Free Trade Zone Authority InternationalCompaniesRegulations2006.
RAK offshore company formation: Key features RAKOffshorecompaniesrequireatleast1shareholderandcorporateshareholders arealsopermitted.Incasethereareinternationalcorporateshareholders,they needtohaveattestedcompanydocuments Youneedtohaveatleastonedirectorbutdoesnotallowcorporatedirectors.The detailsfordirectorsarenotpresentonpublicregisters AllRAKoffshorecompaniesmusthaveasecretary.Acompanydirectorcanalso actasacompanysecretary RAKdoesnothaveanyminimumsharecapitalrequirements AllRAKoffshorecompaniesneedtomaintainaccountingrecordsdatingbackup to7yearsfrompreparation.However,theseaccountsdonotneedtobefiledwith RAKauthorities
RAK offshore company formation: Benefits 100%foreignownershipofyouroffshorebusiness PermissiontoownsharesinfreezoneandonshoreLLC companiesalso Amongfastestcompanyincorporation;typically,upto1 week Holdmulti-currencybankaccountforinternational transactions Shareholdersanddirectorscanchoosenottodisclose themselvesonapublicregister
ingyourinternationalcompanyintheheartofthe d’sbusinesscapitalisnowareality.Withthehelpof edbusinessconsultantslikeShuraaBusinessSetup, answerstoeventhemostdifficultquestionson blishingyouroffshorecompanyinDubai.Tapintoa dofendlessopportunitieswhenyousetupyour nessintheUAE. aaexpertsarealwaysavailabletoguideyou ughouttheoffshorecompanyincorporationprocess provideahassle-free,seamlesstransition. RT YOUR UAE OFFSHORE COMPANY AY!
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