Offshore Company Formation
Offshore Company Formation in UAE
Go Offshore in UAE, to Avail Tax-Efficient Strategies and Run Your Business with the Utmost Ease, Confidentiality and Freedom it deserves!
What is an Offshore Company?
An offshore company can be owned by individuals or corporate bodies and is a business entity which does not carry out any substantial business activity in its country of origin. Also known as non-resident company, an offshore company cannot occupy an office space in the UAE.
Such a company is framed under the no tax jurisdiction law with the sole purpose of enhancing one's wealth management and reducing any kind of tax payment legally.
There are various reasons for offshore company incorporation UAE, with the primary reason being complete confidentiality over the financial matters and increase in wealth without interruption. Additionally, it allows offshore companies a chance to eliminate or cut down different types of tax payments such as Capital gains, Death duty, VAT, Profits on business earnings, and Property sales, etc.
Key Features and Activities of a UAE Offshore Company
Key Activities - Main activities that can be performed by an offshore company in UAE are:
- Advisory services
- Buying, holding, or selling stakes of companies
- Commission Agents or intermediary brokers (IB's)
- General Trading
- International and professional services
- Investments and joint investments
- Owning property
- Shipping and ship management
Salient Features - Features of a UAE offshore company are:
- Flexibility to have a non-UAE, UAE, or Corporate resident, as the director or shareholder
- Flexibility to maintain UAE or worldwide deposits and bank accounts
- No obligation to maintain its books and records
- Need for special license to conduct banking and insurance business
- No need for the shareholder/director to be physically available in the UAE for company incorporation
- No need of a physical office in UAE
- No need to carry on business within the UAE
- No need to obtain UAE Residency Visa
- With prior authorization from RAK Investment Authority, flexibility to own real estate property in UAE
Why Opt For UAE Offshore Company Formation?
Offshore company incorporation UAE is a dream come true for foreign investors due to its uniqueness, negligible dependence on any another country for its overseas status, and political and economic stability of jurisdiction.
Other than these, there are multiple reasons for offshore company setup in UAE:
- Taxation - Business can be structured so that profits are realized in ways that minimize their overall tax liability
- Anonymity - The name of the underlying principal may be kept out of documentation by carrying out operations in the name of an offshore company
- International trade - Offshore Company would be a good approach for those who want to do international business along with other investments
- Property transfer - When the owner sells the property; a certain percentage of its value may be charged by the authority. The transfer fee can be easily avoided by selling the company itself
- Multiple investors - Few of the property developers around the world insists that the property owner should not be more than one. Number of shareholders can be 1-50 in an offshore company and company owns the property
- Bank account - Many of the International and local banks operating in UAE offer offshore corporate bank accounts
- Economic Stability - Availability of advanced banking system, latest telecommunication facilities, flexible legislative framework and simple incorporation and filing requirements
Advantages of Setting up an Offshore Company in UAE
Most businesses use offshore company as a holding company to hold licensing of franchises, copyrights, interests in other companies belonging to various jurisdictions, trademarks, and other intellectual property rights. Offshore company setup UAE also excites foreign entrepreneurs due to minimum costs attached to employees and other related expenses, as there is no requirement to setup an onshore office. Offshore company formation UAE has multiple other advantages, such as:
- 100% foreign ownership in Free Zones without requirement of the involvement of any UAE national as a shareholder or sponsor
- 100% import and export tax exemption
- 100% income tax, personal tax, and corporate tax exemption
- 100% repatriation on capital and profit
- Asset protection and investment diversification
- Complete anonymity, confidentiality and privacy in operations
- Ease of opening corporate bank account in Dubai
- Ease of international operations
- Easy procedures for shares transfer
- Income from taxable jurisdiction of an offshore or holding company is not taxable
- Low operational costs, with world class banking and investment management services
- Minimum requirement of one Director or Shareholder
- Multi-currency bank accounts with placement of funds in bank accounts other than the home country
- No foreign currency restrictions
- No minimum capital requirement
- No office space requirements and lesser infrastructural costs
- No value-added taxes or taxes on capital gains or withholding
- Protection of Legal Asset and Investments
- Proximity to Gulf and global markets
- Quick incorporation within 2-3 working days
- Tax Reduction and Profit maximization
Offshore Company Incorporation in UAE
With respect to the number of directors, minimum share capital required, number of shareholders, etc. there are distinct regulations and requirements of an Offshore Jurisdiction, which vary with each offshore jurisdiction. Similarly there are regulations that define activities permitted or restricted to an offshore company, names that are allowed, permissible suffixes (Ltd., Inc. etc.). These are some of the many things that we take into consideration for Offshore Company Incorporation in UAE for our clients.
There are certain Company Formation Centres or UAE Offshore Jurisdictions where we assist our clients with offshore company formation, like Panama, British Virgin Islands, Cayman Islands, etc., with prominent ones being:
Commitbiz for Offshore Company Setup in UAE
Offshore company formation is ideal for international business, as international laws govern offshore companies and no local rules are applicable to them, which ensures that their assets are fully protected with free money repatriation and nil taxation. Therefore, we at Commitbiz suggest our international clients to opt for offshore company setup in United Arab Emirates.
We are a registered company eligible to facilitate offshore company setup in RAK, Dubai, JAFZA and other parts of UAE for global entrepreneurs. Business development team at Commitbiz excels at minimizing taxes, protecting assets and limiting liabilities for our clients, and takes care of entire company setup from start to finish.
Extensive domain experience and in-depth local expertise helps us to understand the unique needs of our client's business and provide them a trouble-free and customer-friendly working environment. We act as the registered agent for our clients in Dubai and help them with:
- Filing with the registrar of Companies
- Getting incorporation certificate
- Getting the office facility registered in Dubai with PO Box
- License renewal
- Opening multi-currency bank account in Dubai
- Preparing Memorandum and Articles of Association
- Preparing registration forms
We provide strategic business inputs, handle legal documentation formalities, and provide state-of-the-art amenities at cost-effective rates for your unhindered business growth in the UAE. Contact us for your offshore company setup requirements; our team will be glad to assist you.
An offshore company, also referred to as a non-resident company, is a business entity not engaging in considerable business activity in its place of origin.