A business entity setup outside the nation of residence with the end goal of legally lessening tax payments & upward wealth management & profits is known as an Offshore Company. As an economically, politically & socially sturdy country, UAE is the most sought-after location for conducting offshore business in the region. Offshore company formation in UAE offers several advantages such as companies can remarkably enjoy the incredibly low tax regime, the freedom from governmental authorities, and formalities. The low cost of doing business, convenient procedures, and rules make offshore company formation more prominent. In fact, the company formation process for an offshore company in UAE is so simple that it can often be finished in a matter of weeks.
Offshore businesses are tax-exempt & permitted to lead their undertakings from anyplace universally except for the nation of incorporation. Investors can handle on discretion, just as they perform asset fortification, among other such advantages. An Offshore Company positioned in Dubai can be made by at least one investor and have a limit of fifty. Similarly, the organization should be managed by two directors & one secretary, and have their names enrolled with the Dubai Registered Office.
UAE Offshore Company Benefits
- Operational freedom
- 100% foreign ownership
- Advantages of Double Taxation Avoidance Agreement among 115 countries
- Possibility to buy real estate in approved zones
- Minimum capital requirement or Low setup costs
- A doorway for global market expansion
- Access to a stable & business-friendly legal system
- Access to a more flexible regulatory regime
- Better access to global funding
The Procedures Involved in Offshore Company Formation in UAE
- Choose a Field of Business
Offshore company formation isn’t practical for all businesses. Industries related to trading activities have a superior scope. Subsequently, choose your business prior to venturing out to building up an offshore company in UAE.
- Select a Company Name
You need to submit at least three names to the authorities. The incorporation agency will pick one name out of the three & approve. The regulations directive the trade name to end with “Limited”.
- Formulate AOA & MOA
Article of Association & Memorandum of Association is important to be ready for the setup of an offshore company. Choose the director board, board persons, managerial group, and so on, and settle the documents.
- Apply Together with All the Necessary Documents
The application for incorporation of an offshore company should be submitted alongside documents certificates counting proof of residence, authentic copies of passport, and a reference letter from a bank, shareholders details, etc. The document submission varies among the individuals & the corporate business entities. Take a look at how they differ:
For individual shareholder:
- Attested passport copies of the shareholder or owner
- Original bank reference document
- Residential proof
- Details of the shareholder or owner
- Preferred name of the business to be formed
- Mention activities of the newly formed offshore company
- The hierarchy of beneficiaries
For Corporate Shareholders:
- Memorandum of Association
- Board resolution
- Parent company certificate revealing the name of directors or shareholders & duly attested.
- Hierarchy of beneficiaries
Let Connect Services Middle East Be Your Ideal Partner for Offshore Company Formation In UAE
Connect Services Middle East has been established to support, guide, and help business persons in setting up businesses in UAE. With a great experience of setting up offshore companies in the UAE, we provide tailored solutions suiting the business requirements. We have solely selected experts with quite a lot of years of experience in the industrial & commercial field of the UAE. Hence, help you deal with the entire setup process in an error-free way. If you are looking ahead to commencing your offshore company in UAE, get in touch with us today- we would be delighted to help you!