Company Formation in Abu Dhabi Offshore
Abu Dhabi being the capital of the United Arab Emirates, is now gradually turning out to be one of the best places in the world to set up a business. The strategic location makes it one of the most sought-after places for budding entrepreneurs and businessmen all over the world.
Most of the entrepreneurs prefer setting up an offshore company. They now have a vital part to play on the economy. Offshore company formation in Abu Dhabi is a very profitable business structure for curbing the operation cost of the business, while most of the people prefer offshore business because they do not prefer the tax policies of the country.
The term offshore basically means “outside jurisdiction”. An offshore company is a legal organization which is owned both by any individuals or any corporate body and is set up outside the boundaries of its country of origin. It is to be taken care that the offshore company is not confused with a free zone company.
Why set up an Offshore Company in Abu Dhabi?
There are many benefits of setting up an Offshore company in Abu Dhabi.
Conducting trade Internationally
Transfer of Property
Acquiring Multiple Investors
Economic and financial stability
Simple banking Procedures
As seen above, an offshore company is very beneficial. For setting up an offshore company, you must know the following-
A minimum of 1 director of the company is required, and this number can increase up to 50.
The company can open a corporate bank account in the area.
100% foreign ownership of the company is available to the management of the company.
No tax or duty is levied on such companies.
The company is not mandated to produce an audit report. The report will only be required in case of any doubt.
It is not necessary for the physical presence during the incorporation of an offshore company in Abu Dhabi.