Offshore Company Formation In Dubai
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Offshore Company formation and Business Setup
We at Consultzone specialize in Offshore Company formation and Offshore business Setup in Dubai. Consult zone professionals make sure that the Company formation is smooth and hassle-free for the client. Our expertise and strong experience in Offshore Company Setup and strong collaboration with the concerned UAE authorities help us to offer fast, secure, and legally compliant services taking care of all the necessary paperwork and eliminating any errors. We make extra effort to make sure to keep the confidentiality of the client’s documents and data throughout the process and afterwards. We handle everything from the registration to final approval. Our experienced professionals navigate the complexities of government agencies, making the process of UAE company formation for the client a smooth and hassle-free affair. Contact us today for reliable, cost-efficient, and hassle-free company setup services in the UAE.
What is an Offshore Company Formation Setup in Dubai?
An offshore company ( also known as a Non-Resident Company or International Business Company ) is a business entity incorporated at a different location other than the entrepreneur’s original one. It offers a legal framework for generating business and profits from another location. In Dubai setting up an offshore firm allows businesses to engage in global trade and expand their operations internationally. It is important to take into notice that offshore companies can’t obtain an operating license for certain activities within the UAE but a company can still obtain certification for its incorporation.
Setting Up an Offshore Company in Dubai
International businesses can benefit greatly by setting up an offshore company. The process of setting up a company is quick and affordable. Company registration is a popular choice in the Middle East as it paves the way to incorporate a business outside the home country and thus benefiting the business in tax advantages.
By establishing an Offshore firm the entrepreneur enjoys a wide range of benefits. Which include efficient enterprise management designs, the ability to implement intelligent international investment strategies, provisions for effective wealth management, operational freedom, and ease of conducting business operations. An offshore company is the gateway to a solid foundation for global success for an entrepreneur.
An offshore business has the advantage of establishing its presence outside of Dubai in offshore locations while businesses in the mainland or free zones cannot do so. Company Setup offers options such as Limited Liability Companies (LLCs), Limited Companies (Ltd.), and Limited Partnerships (LP).
Benefits of Offshore Company setup
Setting up a company in Dubai offers a multitude of advantages for businesses which include favorable taxation policies with zero or low taxes, convenient access to virtual office facilities, the ability to engage in transactions with other businesses, a duty-free environment, fast and efficient incorporation and registration process, no limitations on the number of directors in the company and a range of exceptional privileges. It’s a fantastic opportunity for business growth and success. Some other advantages of an offshore company are:
- Expanding the business by reaching out to customers globally and broadening the customer base.
- Benefitting from a strong and business-oriented legal system that supports the fast expansion of companies.
- The United Arab Emirates offers a flexible regulatory set of rules that provide many benefits to the entrepreneur.
- Benefitting from tax neutrality on earnings made internationally such as personal and corporate tax, capital gains tax, and inheritance taxes.
- Gaining a competitive edge by attracting investors and securing funding from around the world.
- Protecting the valuable resources of the concerned business like business ideas and assets thus helping to ensure better security for the business.
The Following Documents are Essential When Applying for Offshore Company Formation:
- A well-structured business plan outlining your organization’s objectives for a minimum of three years. This will help expedite the application process.
- An original reference letter from your bank or bank statements from the last six months, duly signed and stamped by the bank.
- Proof of business address, which can be in the form of utility bills or a lease agreement.
- Brief profiles or CVs of all shareholders.
- Copies of passports for all shareholders.
- Three options for company name reservation.
- Supporting documents related to the business activities you intend to undertake with your company.
RAK Offshore Company Formation In UAE
The establishment of offshore companies in Ras al Khaimah (RAK) was introduced by the RAK Investment Authority (RAKIA) in 2007. The offshore company formation in Ras al Khaimah was initiated by the RAK Investment Authority (RAKIA) in 2007 offering businesses exceptional flexibility. RAK’s business-friendly approach makes company registration in RAK highly cost-effective compared to other jurisdictions. The presence of a Double Taxation Avoidance Agreement between Ras al Khaimah and 47 other nations around the world makes it an ideal location for financial specialists particularly from these countries to establish their offshore businesses in the UAE. The regulations put in place by the authorities provide comprehensive financial protection and security for entrepreneurs in RAK.
Documents needed for an individual shareholder
- Passport (valid) copy with the UAE entry stamp page for shareholder(s) / director
- Three proposed company names
- Residency proof of the shareholders: (telephone/utility bill/ electricity etc.)
- Original Bank Good Standing Letter (or Bank Reference Letter) for the shareholder (s) – the account must have been functional for at least 2 years or more
- Personal and business profile of each shareholder (s). (CV)
Documents needed for corporate shareholder
- Copy of the business license or incorporation certificate (attested)
- Notarized Memorandum of Association (MOA) or Articles of Association (AOA)
- Notarized certificate of incorporation
- Notarized BR (Board Resolution) and power of attorney
- Notarized certificate of good standing
- Incumbency certificate of the company (mentioning the names of shareholders and directors)
- Utility bills of corporate shareholders and directors as proof of address
- Bank reference of the corporate shareholder
- CVs/Profile of directors/shareholders/secretary
- Passport copies of all directors and shareholders
- Additional documents may be requested by the authorities during the registration process
Which Jurisdiction is Best for my Offshore Business Setup in Dubai?
One of the first things you will need to decide for your offshore business setup is the jurisdiction. It depends on different factors, like your future plans, the nature of the business, assets owned by the business, the applicable regulations, the geopolitical situation of the region, etc.
The two most frequently used regions for offshore business establishment are the Jebel Ali Free Zone Authority (JAFZA) and the RAK International Corporate Centre (RAK ICC).
The outright advantage is that both regions allow 100% foreign ownership. The other plus point is that both areas are tax-free, which means zero corporate tax or income tax. Also, offshore businesses established in these two areas are permitted to own Dubai Properties
Other Advantages of RAK ICC Include –
- It is the fastest-growing area for offshore companies and is also the cheapest.
- The incorporation is comparatively faster here.
- The current strength of the area is approximately 14,000 companies covering 50+ industrial verticals.
Our Offshore Business Setup Services
Our in-house team has experienced members from diversified backgrounds like law, accounts, finance, audit, and management to offer comprehensive services. We support you with –
- Business documentation work.
- Provision of nominee shareholders, directors, and company secretary.
- Opening of bank accounts in Dubai.
- Liaising with concerned authorities in the city.
- Choosing the name of the company and its registration
- Conducting due diligence
- Collating reference letters
- Guidance and other administrative help throughout the process of your business setup.
Also, since you don’t need to be physically present for offshore business setup in Dubai, we will act on your behalf as your local representation.
Additional support services offered by us in this context include assistance with leasing office space, staff employment, and other such provisions even though offshored companies are not required to do any of these registration formalities. We can also assist you with add-on and auxiliary services to make your day-to-day business operations smoother and more effective. These services include auditing, accounting, taxation, outsourcing CFO/PRO, and more.
Speak to us today to understand the complete scope of our services – your one-stop service provider for seamless offshore business setup in Dubai.
Explore Our Services
01
Mainland Company Formation
Opting for the mainland business setup enables your business to trade ...
02
Freezone Company Formation
100% foreign ownership along with a 0% customs duties on imports and exports.
03
Offshore Company Formation
The setup is also known as Non-Resident Company (NRC) or International Business...
