If you are looking to start an offshore company to manage your affluence and keep it confidential, then PRO business setup will assist in offshore company formation in Dubai, UAE. We help you with better investment opportunities in Jebel Ali, RAK, and Ajman and also in the registration of an offshore company. People who want to invest their money in different projects and they don’t want to disclose it to anyone, can incorporate an offshore entity and then this offshore can invest as a corporate investor in different projects. An offshore company can hold the shares of other companies in UAE or abroad. The UAE is not entitled to alliance of divulgence or disclosure of any information in exchange agreements under any circumstances. The UAE government ensures no disclosure of trade credentials, investment specifics, shares capital or client advise. The offshore company incorporation in UAE enables you to register company setup and open its bank account in UAE. An offshore company registration will safeguard your hard-earned income, and we help simplify the formation of your offshore company in UAE.
Exemption from Corporate Taxes: At present, there is no personal tax or corporation tax imposed neither at the Emirates level nor at the Federal level with limited exceptions, such as oil and foreign banks. However, Municipal fees and duties are imposed in relation to certain special commodities, such as liquor and tobacco and this freedom from tax will equally apply to offshore companies.
100% Foreign Ownership: The International Companies Regulations requires no local shareholding in an offshore company as opposed to the companies incorporated in mainland of UAE, which requires mandatory local shareholding.
Therefore, foreign investors either individual or corporate entities may own 100% share equity.
Simple Registration Procedures and Cost Efficiency: The registration process is simple and expeditious and can be completed within 3 to 4 working days upon submission of the required documentation. Incorporation cost is relatively low as compared with other entities incorporated in free zones or mainland of individual Emirates.
Low Operational Costs: Offshore Companies are not subject to any registration conditions with regard to the leasing of premises, the provision of guarantees and employment of staff. Offshore Companies may conduct the offshore company business through the office of registered agents like Law Firms and accountants approved by the registrar and through whom communication with the company can be maintained.
Share Capital: There is no requirement for any minimum share capital, although the registrar may require that the paid-up capital of the company be commensurate with its proposed activities.
Transferable Shares: Shares in offshore companies are easily and freely transferable by a written instrument.
Limited Liability: The liability of shareholders in an offshore company is limited to their share in the capital of the company. The regulation requires that the name of the offshore company shall end with “Limited”.
Other Benefits: An Offshore Company formation in UAE can be used for international trading, asset protection, tax planning, acquiring real estate properties in the designated areas of UAE, holding, becoming partners and acquiring shares of the other companies, trust funds etc. Capital requirement is only symbolic, and the identity of beneficial owners will be kept confidential by law unless there is suspicion of criminal activity. An Offshore Company may open an account in the UAE banks and operate such accounts. The offshore company shall also have the option of choosing the governing law, either the UAE Law or the law of the applicant country.
1. The activities expressly prohibited under the regulations are banking, insurance and financial services. The authorities shall have the power to add other activities to the list of prohibited activities.
2. UAE Offshore Company formation are not generally permitted by the Regulations to carry on any commercial operations within the UAE.
3. Own an interest in real estate property situated in UAE except in the designated areas of UAE as approved by the authorities.
It is sufficient to state that the object of the offshore company is to engage in any lawful act or activity for which offshore companies may be organized under the regulations. The proposed capital of the offshore company shall be stated in the application form. The information required on an application form should include the full names and addresses of the shareholders, the number of shares proposed to be held by them and the value of the shareholdings. In addition, the names and addresses of the directors (minimum 1 director shall be nominated, shareholders may nominate any other person to act as director of the company), name and addresses of the registered agents and any other particulars that the registrar may require. The application form should also be accompanied by the offshore company’s proposed memorandum and articles of association.
As most other companies an offshore company may enter into contracts, open bank accounts, purchase and sell various products and services, own property. A typical offshore entity, also known as an International business Company (or an offshore IBC) does not pay taxes in its home jurisdiction.
Following can be the uses of an offshore entity:
A trading company can be establish itself in an offshore area. The offshore company would take orders directly from the customer, but have the goods delivered directly to that customer from the manufacturer or place of purchase. The profits arising out of the difference between purchase price and sales price would then be accumulated in the Offshore Company’s bank account.
You can also carry on your consultancy or counseling business by using an offshore company. You will find it easier to manage your company and will have reduced or even zero taxation depending on the jurisdiction in question.
There are a number of good reasons why the use of offshore companies has become so popular when buying property in Dubai. The most obvious reason would be the avoidance of complicated inheritance procedures.
Any kind of intellectual property right (a copyright or trade mark) may be registered in the name of an offshore company. The company may also buy or sell this type of rights.
Offshore companies can be used as a holding company where people can manage all their business under one holding structure.
The UAE is not entitled to any Alliance of divulgence or Disclosure of any information in exchange agreements under any circumstances. The UAE government ensures no disclosure of trade credentials, investment specifics, shares capital or client advise. Offshore company incorporation in UAE enables you to register company setup and open its bank account in UAE. As long as you intended, the advantage of this structure allows you to classify your assets details as you owned by your offshore company until your preference.