Offshore Companies in Dubai
Offshore companies in Dubai is a serious subject to many business professionals and investors because of its easiness of incorporation, lower operational costs, exemption from taxes, 100% foreign ownership etc. In simple words offshore company in Dubai can be understood as a legal entity established in a tax free or offshore financial centre and which is protected by a specific legislation, high level of privacy, tax exemptions. Further offshore companies in UAE can be described as an entity specifically designed for non residents of the country and offshore company cannot do any business activity in the country of its registration and it doesn’t have any physical existence.
Advantages of offshore companies in UAE
Tax Exemptions: Dubai offshore companies enjoys tax exemptions like corporate taxes personal taxes from the investors and that is the key attraction of such type of entities.100% foreign ownership: There is no local shareholding is required to form a Dubai offshore company, therefore the foreign investors enjoys 100% ownership in the company.
Simple registration procedures and Cost efficiency: The registration process is simple and can be completed within 3-4 working days and the cost involved is also very less compared to other formation of companies.
Low operational costs: This type of company formations are not subject to any registration conditions with regard to the leasing of premises and employment of staff.
Share capital: There is no need of minimum share capital. The registrar may require that the paid up capital of the company must be matched up with the activity of the company.
Limited Liability: The liability of share holders in an offshore company is limited to their share in the capital of the company.
Bank Account: Offshore companies in Dubai can open and operate a bank account in its name in UAE.
Offshore Company Formation requirements:
• Personal profile of applicant.
• Passport copy of applicant.
• Bank reference letter.
• Proof of residence (utility bills like water/electricity bill evidencing the address of the applicant)
• Director’s passport copy. (shall be one director minimum, shareholder can also become a director)
• Power of Attorney in favor of our office to pursue the incorporation process. (Draft will be provided by us) notarized and legalized up to the UAE Embassy/consulate in the country of execution.
For more guidance on Offshore companies in Dubai, you may always feel free to get in touch with Emirates Chartered Accountants Group, Dubai who is expert in the field of company incorporation. Send us mail at email@example.com and we shall be happy to answer you at the earliest.