adminSetting up an offshore company in Dubai has many perks and privileges. It is by far the most popular business entity type in the UAE among foreign investors. Many people confused it with free zone companies but it is not the case. An offshore company set up in Dubai is an international business entity with no tax or low tax benefits and ease and freedom of business operations. It provides a great business opportunity to investors who are looking for smart international investment in a foreign country.
Offshore company setup in Dubai is an ideal, cost-effective, and tax-efficient business structure for international trading. It can also be referred to as a non-resident company to serve international markets without any administrative, accounting, and tax obligations. Offshore company formations can be used for:
- International Trading
- Holding Company
- Shipping Company
- Owning Real Estate
- Copyright and Patents Registrations
- International Consulting Services
Offshore companies are registered in Dubai but allowed to incorporate in offshore locations outside the city. It can be registered either as a limited company, limited liability company, or limited partnership. An offshore company in Dubai is ruled and regulated by the Jebel Ali Free Zone Offshore Companies Regulations 2003.
Advantages of Offshore Company Setup in Dubai
- 100% foreign ownership of the company
- Legally exempt from corporate tax
- Multi-currency corporate bank accounts in Dubai Bank
- Quick and easy to set up when compared to other business types
- No audit reports
- No obligation to set up a physical office
- Privacy and confidentiality laws
- No restrictions on profits and capital expatriation
- No public disclosure is required
- You can hold multiple trade activities
- No Minimum capital requirement
- No currency restrictions for international transactions
- Minimum operational costs
- Protection of investments and assets
- Corporate bank account in a Dubai Bank
- High repute with international financial authorities
However, offshore companies in Dubai are not allowed for trade activities in the Dubai and UAE. Also, offshore business entities cannot use UAE’s double taxation treaties for global business tax benefits. There are some other restrictions such as these companies are not allowed to employ staff in the UAE and rent local premises.
Dubai Offshore Company Formation
Offshore company setup in Dubai is quick and easy. It requires only a few days to complete the offshore company registration with the authorities. The company formation process starts with filling out an application. Investors need to submit all required information and documents to carry out business activities legally. Hiring professional business consultants and offshore company formation specialists can help in document preparations and application submission without any error or delays.
Documents Required for Offshore Company Formation in Dubai
- Business plan including information about the nature of the business
- Original Bank reference letter
- Proof of Address
- CV of the shareholders.
- Passport copies of the shareholders.
- 3 options for company name reservation.
At Socialite Consultancy Services, we offer complete support and assistance for offshore company setup in Dubai. We have extensive knowledge and years of experience in company formations in the UAE and can help investors across the world to start their business activities in the most cost-effective ways. Contact us for more details.