Go Offshore in UAE, to Avail Tax-Efficient Strategies and Run Your Business with the Utmost Ease, Confidentiality and Freedom it deserves!
What is an Offshore Company?
An offshore company can be owned by individuals or corporate bodies and is a business entity which does not carry out any substantial business activity in its country of origin. Also known as non-resident company, an offshore company cannot occupy an office space in the UAE.
Why Set up a Dubai Offshore Company?
In our professional opinion, a Dubai Offshore Company is an excellent corporate structure because:
- A Dubai Offshore Company is tax-free;
- A Dubai Offshore Company portrays a good image to your Clients and suppliers;
- There is no public register of shareholders and directors;
- A Dubai Offshore Company is quick to incorporate.
However, our Clients should note the following:
- Dubai Offshore Company is not permitted to trade in the United Arab Emirates
- Dubai Offshore Company cannot rent local premises in the UAE;
- A Dubai Offshore Company must submit audited financial statements annually to the Dubai Government.
Advantages of Setting up an Offshore Company in UAE
1. Most businesses use offshore company as a holding company to hold licensing of franchises, copyrights, interests in other companies belonging to various jurisdictions, trademarks, and other intellectual property rights.
2. Offshore company setup UAE also excites foreign entrepreneurs due to minimum costs attached to employees and other related expenses, as there is no requirement to setup an onshore office.
3. Offshore company formation UAE has multiple other advantages, such as:
- 100% foreign ownership in Free Zones without requirement of the involvement of any UAE national as a shareholder or sponsor
- 100% import and export tax exemption
- 100% income tax, personal tax, and corporate tax exemption
- 100% repatriation on capital and profit
- Asset protection and investment diversification
- Complete anonymity, confidentiality and privacy in operations
- Ease of opening corporate bank account in Dubai
- Ease of international operations
- Easy procedures for shares transfer
- Income from taxable jurisdiction of an offshore or holding company is not taxable
- Low operational costs, with world class banking and investment management services
- Minimum requirement of one Director or Shareholder
- Multi-currency bank accounts with placement of funds in bank accounts other than the home country
- No foreign currency restrictions
- No minimum capital requirement
- No office space requirements and lesser infrastructural costs
- No value-added taxes or taxes on capital gains or withholding
- Protection of Legal Asset and Investments
- Proximity to Gulf and global markets
- Quick incorporation within 2-3 working days
- Tax Reduction and Profit maximization.