Abu Dhabi is one of the best places to incorporate a company since it’s the capital of the United Arab Emirates. It has become one of the top locations for conducting businesses, and if you incorporate an offshore company you can take advantage of this strategic location to access international markets.
Abu Dhabi offers several choices for business owners in its three jurisdictions. One of the most popular ones is the offshore company because it offers many advantages. The Company Formation in Abu Dhabi Offshore is a pretty simple process and many investors and entrepreneurs around the world want to make business in this place.
Steps for incorporating an Abu Dhabi Offshore Company
The Business Setup in Abu Dhabi Offshore is pretty straightforward and quick since you don’t have to worry about obtaining a business license as happens with Free Zone or Mainland Companies. Therefore, you can carry out this process and have your business up and running in no time.
An Abu Dhabi Offshore Company is a legal entity that is also known as a non-resident company, therefore it can work outside the boundaries of the country where it’s registered. In this regard, the Offshore Company can carry out international transactions outside the UAE.
To incorporate your offshore company you must first select a valid trade name for your business. Then, you need to gather the required documents so you can submit it with the application form. The Authority will review your application and once everything is approved you can start your operations in Abu Dhabi Offshore.
Make sure to comply with the requirements of an offshore company, so you can obtain an outstanding result in your procedure.
Documents required for incorporating an Abu Dhabi Offshore Company
To start your Business in Abu Dhabi Offshore you must have the valid and mandatory documentation. Make sure to gather everything you need so you don’t have to face any delays on your application due to missing or incorrect documents.
Here’s what you need to establish an Abu Dhabi Offshore Company:
- Passport copy for each shareholder
- Proof of address
- Bank reference letter
- AOA and MOA
Requirements for incorporating an Abu Dhabi Offshore Company
To obtain all the benefits of the Abu Dhabi Offshore Company Setup you must first comply with the requirements established by the Authority. It’s worth noting that an Offshore Company is a limited company, therefore it must have the legal structure of such company. In this regard, here are the requirements for an Abu Dhabi Offshore Company:
- It’s necessary to have at least one shareholder and a maximum of 50 shareholders. It’s allowed to have corporate shareholders as long as they have it has the valid company formation documents.
- It’s mandatory to have at least one director
- Companies don’t necessarily have to produce an audit report. However, it’s advisable to have the reports for 10 years from the incorporation date.
- Shareholders don’t need to be present to incorporate the company
- It’s mandatory to incorporate the offshore company as per the Offshore Company Law
- Offshore companies are not allowed to trade within offshore jurisdictions. It’s only allowed to conduct international transactions
- Every offshore company must have a secretary
- Directors can be corporate entities, and a director can assume the role of secretary.
- Shares can be in any currency
Having corporate entities as shareholders, directors or secretary is allowed. However, the quickest way to incorporate your offshore company is by having natural persons to assume these roles. This way you don’t have to submit additional documents when applying for the incorporation of the company.
Advantages of an Abu Dhabi Offshore Company
- Foreign investors can have 100% ownership of the company
- Total repatriation of capital and profits
- 100% custom duties exemption
- There’s no income and personal tax
- You get the chance to carry out multiple business activities
- Offshore companies in Abu Dhabi don’t need a business license
- You have many choices for opening a multi-currency bank account
- It’s not mandatory to rent a physical office space
- Business-friendly environment
- Offshore companies have high level of confidentiality since it’s not mandatory to provide details or information about shareholders and directors
- Access to international markets to conduct international trading
- You can have an UAE address
- An offshore company provides financial stability and flexibility to conduct business
- It allows to have multiple investors
- Cost-effective option for conducting business in the UAE
- You can own investments in Abu Dhabi Offshore
- The offshore company formation in uae is easy and fast since it just takes some weeks.
Permitted activities for an Abu Dhabi Offshore Company
One of the best benefits of offshore company in Dubai is that you don’t have to apply for a business licenses. Since offshore companies are given only a certificate of incorporation, the process can be even faster.
Since there’s not a business license, companies can engage in multiple business activities in Abu Dhabi Offshore. Nevertheless, it’s important to decide on which type of activity you want to focus when you carry out the offshore company formation in Dubai.
Some of the most popular activities carried out in Abu Dhabi Offshore are the following:
- Consultancy services
- Advisory firms
- Commission Agencies
- General trading
- Trading activities
- Real estate
- Property own companies
- Trademark, copyright and patents registration
- Service and professional activities
- International commercial activities
- Professional firms
Abu Dhabi Offshore Company Formation costs
Investors are always looking for the cheapest offshore company formation in UAE so they can start their cost-effective operations. Incorporating a company in an offshore jurisdiction can be a great choice for small businesses and entrepreneurs that want to take advantage of everything Abu Dhabi has to offer.
The Dubai offshore company cost may vary depending on the number of shareholders and the type of each one. In addition, you have to take into consideration registration fees and annual renewal.
Incorporating an offshore company in Abu Dhabi may start from AED 12,000 which is a highly competitive rate compared to other jurisdictions in the UAE.