- July 9, 2020
- Posted by: DBS Editorial Team
- Categories: Dubai Business Services, Incorporation in Dubai
How to setup your offshore company in the UAE?
Offshore company setup in the UAE is the most convenient way to begin your business. The UAE has become a perfect centre for businesses and around the globe since the emergence of offshore company development in the UAE since 2003. Offshore company formation in the UAE is secure, discreet and accurately maintained by the UAE government. An offshore company setup gets not only tax and custom-free advantages but also other economic interests. Because of this, the UAE has grown into one of the most vibrant nations for commercial entities in the world.
What is an offshore company?
The term offshore refers to a location outside of one’s national boundaries. Offshore company setup in the UAE means a company is register in the UAE but it operates in your country, or a home firm that produces in UAE and sells the goods at home.
Offshore company formation in UAE has no-tax jurisdiction law and is ideal for wealth management. Also, there are various other reasons why commercial entities prefer offshore company incorporation in UAE. Such as offshore company setups provide complete confidentiality and offer business opportunities without any disruption. Moreover, offshore company setups in UAE have the plan of eradicating diverse types of tax payments such as property sales, capital additions, value-added tax (VAT), profits on business earnings, death duty, etc.
Salient features of setting up an offshore company in UAE
An offshore company setup in Dubai or anywhere else in the UAE has the following characteristics:
- Offshore company setup in the UAE can have a non-UAE, UAE, or corporate citizen as the shareholder.
- Incorporating an offshore company allows international banks to make deposits in UAE bank accounts.
- Setting up an offshore company in UAE does not need to maintain its books and records.
- Also, there is no obligation for the shareholder/director to be available in the UAE for company incorporation.
- Offshore company setup in the UAE does not need to rent an office space in the UAE.
- UAE offshore company formation does not require shareholder to attain a UAE residency visa.
Activities performed by an offshore company in UAE
- Advisory and Consulting services
- Purchasing, selling or holding stakes in companies
- Intermediary brokers (IBs)
- General trading ventures
- Professional and international services
- Investments and joint finances
- Owning property
- Shipping and ship management
Why choose UAE offshore company setup?
Offshore company setup in UAE lets you expand your business and channelize your revenue. With 100% control of your assets in the UAE and lucrative tax benefits – offshore company setup is termed as the best type of business incorporation in the country.
But that’s not all! Let’s look at the various reasons why you must choose UAE offshore company setup in the UAE:
Offshore company setups have limited tax restrictions and can profit in ways that minimize their overall tax liability.
They may keep the name of the underlying system out of documentation by carrying out works in the name of an offshore company.
An offshore company would be a great pick for those who need to do international business along with other investments.
When the owner sells the property; the authority may charge a set percentage of its meaning. This transfer fee can easily bypass by selling the company itself.
Very few property developers around the system allow for more than a particular property owner. In addition, an offshore company in UAE, however, the number of stockholders can be 1-50, and the company owns the property.
Moreover, many of the international and local banks working in UAE offer offshore corporate bank accounts.
In conclusion, there is the availability of excellent banking systems, the latest telecommunication facilities, flexible legislative framework, and simple incorporation & filing claims for offshore companies.
Want to start an offshore company in the UAE?
Offshore business in UAE has continued to offer tax regimes that allow companies several tax advantages as long as business is carried on overseas, and none of the profits are repatriated. Under such situation the company is not subjected to taxation in its home jurisdiction. Offshore business gets a statutorily exemption from tax in their given jurisdiction, however, such offshore companies are not allowed to participate with any kind of business activities within the country.
If you would like to start your offshore company in the UAE book a free consultation with DBS Business Setup today!
Visit our office for a free consultation at Clover Bay Tower Office 1111, Business Bay Dubai, UAE or contact us +97145667485 or WhatsApp us +971555813673.
For more information log in https://www.dubaibusinessservices.com/