Dubai offshore company formation step by step guide
Offshore company formation in Dubai is by far the most popular business setup formation in the UAE. Businesses that are registered with the jurisdiction of Dubai, but have a base outside of the country, benefit from many tax exemptions and other benefits when compared to their onshore counterparts.
As a result, they provide the ideal systems for business management, wealth management and international investment strategies.
Dubai offers a variety of offshore company forms for business owners and investors, including limited liability companies (LLCs), corporate entities, and partnerships.
Dubai offshore company formation step by step guide
The offshore company formation in Dubai is a simple and easy process that takes only a few weeks to complete. company formation starts with filling out the application with required information and submitting the valid documents such as
Passport of shareholders
Preferred company name
Proof of resident of all shareholders
nature of business to be carried out
The offshore company formation in Dubai can be done in a few weeks unless there occurs an issue in the application and documents submitted. This makes it important to work with a business setup consultant who can help you with filling the application form and submitting the right documents.
Al Hadif Setup is the leading business setup consultant in dubai who can help you with the company formation in dubai without any delays or hurdles and also assist you in employee visas and opening corporate bank accounts.
Advantages of Dubai offshore company formations
Flexibility: Foreign investors are permitted to own 100 percent of offshore companies set up in Dubai, and there is no requirement that shareholders maintain a physical presence (as applies, for example, when setting up businesses in other parts of the UAE).
Confidentiality: The process of forming an offshore company does not require the disclosure of ownership details. This makes companies formed in this way attractive to foreign investors who wish to keep their business dealings private from the government and public.
Tax benefits: Because of its lenient tax regime, the UAE region has attracted foreign investors for many years. This is especially true when it comes to offshore company formations: thanks to the no corporate income tax law, such businesses benefit from favourable conditions that allow them adequate time and financial resources needed in order for a successful start-up.
Bank Account : Offshore companies operate multi-currency bank accounts to conduct international business transactions and ensure the safety of their money.
Your offshore company formation consultant will help you find the best multi-currency banking services provider in UAE and open your required bank accounts.
Dubai has three zones which allows offshore company formation
Jebel Ali Freezone Authorities (JAFZA)
Ras Al Khaimah (RAK)
Ajman Free Zone
Of the above three, JAFZA and RAK are the most popular. These two offshore jurisdictions are tax free and allow 100% foreign ownership. In addition, the UAE has double tax treaty agreements with over 90 countries. These offshore countries can also facilitate multi-currency accounts in the UAE for ease of international transactions. The main disadvantage of an offshore company is that it cannot do business with UAE residents or have a physical presence in the UAE.
Though both JAFZA and RAK have their benefits, RAK is more cost effective. However, JAFZA is the only offshore entity that allows shareholders to legally hold physical premises within the UAE.
JAFZA Features and Benefits
The Jebel Ali Free Zone Authority (JAFZA), following the lead of the Dubai government, began to offer offshore company incorporation in 2003 under Jebel Ali Free Zone Offshore Companies Regulations 2003.
JAFZA offshore company formation : features
Offshore companies require at least one shareholder, but may have corporate shareholders. If there are any international corporate shareholders, they must provide documentation attesting to this fact—usually bank statements or similar records from their headquarters country.
It is important that a company has two directors and its corporate directors are not listed on the public register.
All offshore companies must have a secretary. The same person can act as both the company's director and its secretary
There is no minimum capital requirement to establish an offshore company in JAFZA.
JAFZA offshore company must maintain accounting records for up to 10 years and have them examined by a certified accountant.
JAFZA offshore company benefits
You can gain absolute control of your offshore company by making sure that you, and no one else, owns 100 percent of its shares.
You can legally own physical properties (requires permission from Freezone and developer)
Ownership of shares in a free zone and onshore LLC companies is permitted
Holding a multi-currency bank account for international transactions is also beneficial.
Shareholders and directors have the option of not disclosing themselves on a public register.
RAK offshore company formation : benefits and features
In 2006, the government of Ras al Khaimah launched an international company structure known as RAK Offshore. It was also subject to regulatory authority under the International Companies Regulations 2002-2006 issued by the Ras Al Khaimah Free Trade Zone Authority.
RAK offshore company formation: features
At least one shareholder is required for RAK Offshore companies. Corporate shareholders are also permitted, but any corporate shareholders with international branches or affiliates will have to provide attested company documents.
It requires at least one director, but does not allow corporations or corporate directors. The identities of your company's directors are private and confidential.
All RAK offshore companies must have a secretary. In some cases, the company director can also serve as its secretary.
All you need to start a RAK is an idea. There is no minimum capital requirement.
All RAK offshore companies must keep accounting records that go back at least 7 years. But you do not have to file these documents with the authorities in Ras Al Khaimah.
RAK offshore company benefits
100% foreign ownership of your offshore company
Ownership of shares in free zone and onshore companies is also permitted
The fastest way to incorporate an offshore company in dubai. You can register in 1 week.
Maintain a bank account in multiple currencies for international transactions.
A company’s shareholders and directors can choose to remain anonymous by keeping their personal information off of a public register.
Set up an offshore company in dubai,UAE today
Al Hadif set up is a leading company that can help you set up an offshore company in dubai . We are the experts in creating a legally registered offshore entity . This includes setting up an individual's bank account, creating a corporate entity, setting up incorporation documents, setting up administration services and much more.
CONTACT US
Damac Business Tower 603,
Dubai United Arab Emirates
Phone: +971558104646
Email: info@alhadifsetup.com
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