Set Up an Offshore Company in the UAE, Today’s world wants you to be ready for any occurrence, and far-sighted individuals make arrangements that allow them to be flexible in case of need. You are well-prepared for any unforeseeable goings-on if you timely acquired a residence permit in another country, a house abroad, an offshore undertaking, and a foreign account. You don’t know how to do that? Help is on the way.
Let’s have a more detailed look at offshore entity formation in the UAE for you to appreciate all the pros. But if you are new to the realm of offshores, read an article on offshore company formation on our portal before you make up your mind on offshore company setup in the UAE. You are sure to find lots of insights there on the peculiarities of offshore business and investments. We also invite you to contact our specialists who will answer any questions you may have.
Whether you want to start a business abroad or open an offshore bank account, the portal specialists will help you enjoy a hassle-free experience that will bear fruit. Work on your safety infrastructure – there are lots of good offers waiting for you!
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UAE in Brief
Why should you choose the UAE rather than any other jurisdiction? All in all, there are about 100 offshore destinations in today’s world, so the choice is really wide! Well, here are a few facts about the Emirates to help you look in more detail at this country, and we will discuss the benefits of company formation a little later:
- The UAE is a major trade and banking center in the Middle East
- There are seven emirates here, but we recommend Dubai for offshore company incorporation as it offers the best conditions
- The official language is Arabic, but English is quite widespread in business circles, which simplifies the task
- Local and foreign entities are provided with really good tax incentives
- There are a lot of free economic zones here, including specialized ones, that offer advantageous conditions to freelancers and various legal entities
- A resident of any country can launch a business here as 100% foreign proprietorship is authorized
- Enjoy the freedom of non-controlled payments in any currency
The UAE is a pro-business country that welcomes foreign investors and business owners and creates attractive conditions for all company categories.
Offshore Company in Dubai: Benefits
Offshore companies are often mistakenly associated with dubious schemes and tax evasion. However, this is nothing but the image created for us by journalists that focus on scandalous cases. If you use an offshore company for legitimate purposes, it is just as legal as a company you form back home.
Set up a company in Dubai to take advantage of the following:
- No corporate taxes whatsoever
- Freely move your assets between accounts in the UAE and internationally
- You can own 100% of your company as a foreigner without the need to engage resident shareholders or directors
- You will not have to file any accounting reports or have them audited
- No substance requirements: save on renting a local office
- If you are used to corruption and nepotism, forget about them: they are not practiced in Dubai
- You can take advantage of Dubai’s ports and airports to boost your international trade
- Make use of Dubai’s well-developed infrastructure: warehouses, modern office premises, and housing projects
- Dubai offers stringent confidentiality standards: no information on business owners is disclosed to the public (the only exception is a request from the authorities to do so)
An offshore company in Dubai is a tool specially elaborated for your comfort, and it is an offer not to miss. Contact us today using the link above to launch the establishment procedure!
You can also establish a company in the UAE free zone if you want to, but in this case, it will be an onshore company. Still, let’s look at this chance so that you could compare it to the offshore structure. Here is what you get if you opt for registering an entity in the free zone:
- You are free to engage in your activities in the zone and in other countries
- Carrying out business in the UAE is not allowed (unless you use the services of a local distributor/agent)
- You are free from any corporate taxes for 50 years
- You can fully own your company if you are a non-resident
- You will effortlessly repatriate your profit later on with no restrictions
- The residence/citizenship of directors/shareholders does not matter
- You are required to rent an office in the UAE
- Some emirates will request you to submit accounting reports even if your entity is established in the free zone
- Your free zone company can make use of double tax avoidance agreements (and offshore companies cannot)
- Last but not least, the founding member is entitled to a long-term residence permit, and an offshore company owner has no such right
Which one is better – an offshore company or a company in the free zone? The choice depends on your priorities. If it is hard for you to make an ultimate decision, do not hesitate to get in touch with a specialist by clicking on the above link to the website. We are bound to find a solution through joint efforts!
Steps to Take for Company Formation
- You will need one founder and one director
- Pay the required authorized capital
- Get your company name approved
- Get a local agent to take care of the administrative side
- Opt for a particular free zone
- Collect the set of documents to file
- Set up a company account (with a local or foreign bank)
- Obtain your documents and start your business activities
If you are not sure that you can fill out the documents correctly or find a local agent, entrust the whole thing to our experts. We will give you tips on documents and thoroughly verify each of them before submission and get a reliable local agent for you. Our experts will also discuss the options related to opening a bank account with you and help you get it in no time. All you will have to do is to collect the documents and pay a fee for our services – and, of course, wait a little bit while your company is in progress!
Do not hesitate to click on the above link if you have any questions or doubts: we know how to deal with them!