An offshore company means a business that is registered outside the residing country of the investors. In other words, foreign investors can incorporate their business as an offshore company in Dubai. Dubai is regarded as a high-profile country for registering new businesses. You will need Dubai offshore company formation services for various business goals such as investments, real estate properties, general trading, and even ship management. An offshore company in Dubai is not legally permitted to trade within the UAE neither is it allowed to rent local offices. However, you only need to have at least two directors and a shareholder to have your business registered.
The first thing to do is to appoint a registered agent to carry out the necessary registration procedures according to legal provisions. You can also contract Dubai offshore company formation services to serve as business consultants. They can play a critical role when it comes to the preparation of the required documents and submission of the same. The consultants will also help facilitate the meeting with the bank representatives, opening a bank account, and getting all the approvals from necessary government departments. Some documents you need to have to register your business include:
- The name of the company to be registered
- Passport copies of both directors and shareholders
- CV or profile of the investors
- Confirmation of residential address of shareholders
The Benefits of Setting an Offshore Company in Dubai
- Exemption of all import duties
- No tax is required during registration
- Exemption of certain tax obligations as well as accounting charges
- You can use any currency of your choice
- Foreigners are allowed to have full ownership of the company once they get permission from the government authority in charge.
- It is easy to set up a company in Dubai
- You can register any business of your choice so long as it is acceptable internationally
Why You Should Choose an Offshore Business?
Different factors and regulations make Dubai a top destination for registering an offshore business, some of the factors include the below.
Favorable Tax Policies
The zero-tax policy is one of the main reasons why many investors opt to have an offshore company in Dubai. There is no inherent tax, corporate tax, income tax, and personal tax that are required. This ensures investors get maximum returns from their investments.
Cost Advantages and Easy Registration Process
It is much easy and quick to set up an offshore business in Dubai. The process can be completed within 3 to 7 seven days. Only one director or shareholder is required to be present during registration and there is no need for a physical office. In terms of cost advantages, registering an offshore company is quite cheaper compared to other free zones and mainland jurisdictions.
Supportive Business Environment
Dubai is popular for its ease of business regardless of the type of business. This is facilitated by sound infrastructural development, world-class banking facilities, and supportive economic policies that attract investors.
Protection of Your Assets
The regime plays a significant role in safeguarding your company’s intellectual property and other assets including real estate. Another great policy is allowing investors to hire foreign nationals and facilitate their relocation to Dubai.