Everybody would want to start a business journey in the UAE and think of incorporating a new business altogether. However, the offshore company registration in the UAE offers a second option for business investors to purchase an existing company.
These companies can be acquired by anyone to skip the tedious registration or incorporation process. So, if time is a limitation for your company, the best choice may be an existing company. There are so many things to consider before doing so and this guide will give you the complete essentials you need to know before buying a UAE existing business.
Let's take a step back and begin from the basics before moving forward with the buying process.
What is an Existing Offshore Company?
A ready-made corporation, also known as an existing company, is meant for investors who wish to start their business right away without having to go through the lengthy registration process.
In simple terms, we may deduce that existing firms are legal business organisations that are ready to function and have been licenced earlier. Some of the features of a well-established offshore corporation include
They have previously been licenced
They are dormant corporate organisations
They can be appropriately maintained
They are easy to use
The newly formed businesses have already been registered with the Companies Registry and have been issued a Certificate of Incorporation. The characteristics described above are beneficial to business owners and investors, encouraging them to invest in a well-established company in the UAE.
Buy offshore Company — Existing
You must either create a new company or purchase an existing one to start a business in the UAE. Established enterprises are referred to as ready-made firms, mature businesses, and existing businesses.
Steps for Shelf Offshore Company Acquisition
Because there are no true registration acts, the current company's registration process becomes simple, and it just takes a day or two to transfer ownership. Concentrate on the steps that follow.
Choose a name for a dedicated organisation.
Complete the appropriate business application.
Keep a copy of the Articles of Association (AOA) on hand.
Submit the required documents to the Business Registry with the right information.
Charge an appropriate amount
After the transaction is completed, the formation paperwork will be supplied.
After the paperwork is signed, the Certificate of Incorporation is issued within 2-3 business days. Send the necessities to the Business Registry with the correct records.
Buy Offshore Company with Bank Account — A Better Option
There are numerous sorts of existing firms to choose from, based on their appropriateness. It involves danger if the shareholders' past, bank accounts, debts, and other assets are not properly maintained until the present firm is given to the business owners.
Simultaneously, getting an offshore bank account in the UAE is a scary thing, and I believe everyone would agree. Therefore, buying a bank account obtained from an offshore company is a smart choice for the buyer in so many aspects. However, there are points to be kept in mind before doing so as there could be a recoil.
Even after the company is legally yours, the bank account still is not. It requires to be transferred to your name following the procedures.
You must be very careful with the KYC procedures since there is a genuine amount of chance that the bank could circumspect and close the account instead of transferring it.
It is wise to priorly choose a neo-bank or a foreign bank or a payment platform and in the case of an offshore company without a bank account, choose a company that is recently incorporated.
Advantages of Buying an Established Offshore Company
It saves time and money by not having to establish a new firm.
2. Loan and capital Made Easy
Potential borrowers or lenders are more inclined to provide a loan or lend to an established company than they are to a startup. The organisation would have access to more loan lines, leases, banking relationships, and investment resources.
3. No Processing Period
You can engage in small business or real estate transactions as an existing corporation without having to go through the lengthy process of forming a new one if you have a ready-made organisation.
4. Allows for quick access to agreements
In the United Arab Emirates, several government bidding processes require your company to be functioning for a certain period of time. If a new company wants to compete in such bids, it's better to buy a ready-made firm.
5. Well-Established Structure
An older business has a proven track record of operations and consistency, making it simpler to build a corporate image.
6. Streamlined Documentation Process
The longer a company has been registered, the more members of the association can see and handle business visas and corporate documentation.
Why Choose Us to Buy an Offshore Company in the UAE?
Once you've decided on an existing company, our experts can check the legal location, fee structure, corporate bank account, manager's addresses, and all necessary certificates and permissions. Following a takeover, our review method ensures that no existing obligations are transferred to you. We will also provide you with knowledgeable assistance in any part of the firm's purchase.
We'll make sure you don't end up paying a hefty premium when buying a well-established company. Once the permissions are in place, we'll assist you with your dialogues and transfer ownership. In Summary, Commitbiz will licence and prepare the current business for sale.
Contact us for further assistance. We are keen to help you.
Can I buy an already existing UAE offshore company?
Yes, it is possible.
How long does it take to obtain a ready-made offshore company?
It will not take more than 2 to 3 business days.
Which offshore location is best to buy a company?
Be it Ajman, RAK or JAZFA each has its own benefits.
Is the process of buying an already incorporated offshore company difficult?
No, it is much easier if the documents are all ready.
How long should an offshore company be actively performing to sell it?
There are no such rules, once your company is licensed, you are eligible to sell it.