OFFSHORE COMPANY FORMATION

OFFSHORE COMPANY FORMATION DUBAI

WHY DUBAI?

The UAE Government has provided strong support to the business and economy through positive regulations. This has put UAE as one of the most preferred countries for doing business, and for residence. Strong performance on other global indicators of safety, technology and innovation have rendered UAE as a global benchmark for economic growth.Dubai is a strategically located city, right at the hub of global travel. It is an ideal link to all parts of the world, making it a practically strong logistics and business centre. This gives offshore companies a strong advantage..

WHAT IS AN OFFSHORE COMPANY?

Offshore Companies are typically any business for services or for manufacturing of goods. The major reason for this preference of offshore companies is to avoid the document attestation and cumbersome paperwork process associated with company documents in business setup under other jurisdictions. For all purposes of legal standing, the offshore entity must appoint a local service agent. This local service agent will act as a link between the Government and the newly formed offshore business entity.

WHAT ADVANTAGES DO YOU GET WITH AN OFFSHORE COMPANY IN DUBAI?

Offshore Companies are typically any business for services or for manufacturing of goods. The major reason for this preference of offshore companies is to avoid the document attestation and cumbersome paperwork process associated with company documents in business setup under other jurisdictions. For all purposes of legal standing, the offshore entity must appoint a local service agent. This local service agent will act as a link between the Government and the newly formed offshore business entity.

WHAT ADVANTAGES DO YOU GET WITH AN OFFSHORE COMPANY IN DUBAI?

Offshore companies are preferred due to the following reasons: • Protection of confidentiality • Investors need not visit the authorities, but documents need to be signed at the office of the registered agent • Protection of assets • Tax optimization • Diversification and investment options • An option for lean headcount and efficient operations • High levels of privacy • With an offshore company, you can still get a banking account in Dubai.

BENEFITS OF AN OFFSHORE AND UAE

• 100% tax free. • 100% customs duty free. • 100% ownership with no local involvement. • Minimum of 1 Director/ Shareholder. • Can own real-estate • No foreign currency restrictions. • Financial and political stability with UAE. • No minimum capital required. • There is no obligation for an offshore company to submit any annual reports or financials. However, the Government reserves the right to demand any documents on account of any suspicion over offshore companies.

WHERE CAN ONE START AN OFFSHORE COMPANY?

Dubai offshore company formation is offered in 2 jurisdictions. These are: • Jebel Ali Free Zone (JAFZA) • Ras Al Khaimah (RAK)

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