Many service providers are there who provide competitive offshore packages such as hiring local employees, services for operating your business, renting of office space, entering into agreements, selling goods and company services, taxation and banking advice, offering investments and preparing contracts. As per the law of UAE, the offshore incorporation requires an agent who acts as a link between the local government and the newly formed offshore enterprise.
The features and regulations for Offshore Business Setup in UAE:
- At least one director and shareholder is required
- The company’s capital can be any sum divided into any denomination
- From the list of registered agents maintained by UAE Free Zone, a registered agent should be appointed by the Company.
- On UAE off shore incorporation companies, 100% tax and duty exemption is present and 100% foreign ownership is permitted.
- You can open a corporate bank account in the state.
- In the UAE Free Zone, the offshore address is located.
- Only in the case of doubt, audited financials will be asked for.
- To incorporate the company, the investors are not needed to visit the authority. But in the registered agent’s office, the documents should be signed.
In spite of the changing financial policy of offshore companies, the offshore companies in UAE guarantee a high level of privacy and secrecy of your business. In the recent times, the Arab Emirates have not made any contracts on the revelation and exchange of confidential information on offshore companies. This thing offers definite benefits for an offshore company in Dubai, UAE. These things attract a number of investors here who want to register an offshore company in Dubai and other Free Economic Zones of UAE.
The advantages of offshore company registration are mentioned below:
- For business activity performed outside UAE, no tax is levied
- The Memorandum of Association and other documents linked with the company are verified by the registrar.
- Minimum 3 and maximum 7 days are required for offshore company registration in Dubai, UAE
- Every registered offshore company must have an official registered company’s address as well as the registered agent.
- One can enjoy a higher level of confidentiality, information on shareholders and directors are not disclosed
- At least one director is mandatory, but their number and residency is not restricted
- 1 owner and shareholder is compulsory for the registration. The shareholder’s place of residency and his citizenship have no restrictions barring the countries that are authorized as per the international rules set by international organizations.
- The shareholder of the company is authorized to run the company.
- No audit is required
If you want to register your company in UAE, remember that it requires a detailed verification of documents and preparation of documents.
So, if you are interested in setting up an offshore company in UAE, you should take help from the business advisors who can help you to save time and reduce costs of offshore company registration considerably.