Offshore Companies in UAE
Offshore Companies in UAE
Offshore companies in UAE is initiated by one or more persons, who may either natural or juristic, submitting a signed application form to the registrar of the offshore companies, together with the relevant prescribed supporting documents. Offshore Business is aimed to engage in any lawful act or activity for which offshore companies may be organized under the regulations. The proposed capital of the offshore company shall be stated in the application form
Highlights of offshore companies
No Tax burden: The main advantage of such type of entity is the tax benefit.
Ownership: There is no local shareholder is required to form an offshore company, therefore the foreign investors enjoys 100% ownership in the company.
Easy registration procedures and Cost efficiency: It will take only a few working days and the cost involved is also very less compared to other formation of companies.
Reduced operational cost: offshore companies are not subject to any registration conditions with regard to the leasing of premises and employment of staff.
Share capital: Minimum share capital is not needed. 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 will be based on the number share holding the in company
Bank Account: they can open up a bank account and operate in the country.
All of the above is attracted by many foreign investors that increases the number of Offshore companies in UAE
Offshore Company Formation requirements
- Applicant’s profile
- Copy of passport
- Reference letter from Bank.
- Residence certificate (electricity /water bill evidencing the address of the applicant)
- Passport copy of the Directors. (one director minimum, shareholder may become a director)
- Power of Attorney in favor of the agent.
Offshore entities may trade or do business only outside of the country in order to be tax exempt and Shareholders and directors of an offshore company may enjoy generally a high level of privacy.
For more information on Offshore companies in UAE, you can always get in touch with Emirates Chartered Accountants Group Dubai; our expert consultants will guide you. Send us mail at info@emiratesca.com and we shall be happy to answer you at the earliest.
