Offshore Company can be defined as a corporation formed in a foreign country that can only operate outside its country of formation. Offshore companies provide a gateway to operate outside its jurisdiction or its place of complete ownership. Offshore companies provide greater access to global resources such as funding and human resources and it allows companies to expand their market. There are three offshore jurisdictions which are Jebel Ali Company (Dubai), RAK and Ajman. They offer some benefits such as 100% tax exemption etc but serve to different strategic goals. Jebel Ali offshore company is the only one that permits the ownership of the real estate in Dubai.
Jebel Ali Free Zone Offshore Company Registration, Dubai
Jebel Ali Free Zone allows companies to operate with some key benefits that propel their international business growth. Apart from other benefits, companies enjoy 100% tax exemption, no custom import or export duties, 100% business ownership, no restrictions on currency, etc.
JAFZA zone helps businesses expand at a remarkable growth rate. It contributes 21% of Dubai's GDP on a yearly basis. It is home to almost 100 fortune 500 companies.
Are you looking forward to Offshore company formation in Dubai? then you are at the right place. It takes time & a lot of procedures need to be followed taking a toll on the person but with BMS, you don't need to worry about these operational processes. We have years of experience in offshore company setup in Dubai. Our close relationship with government officials helps us to setup your company quickly thus saving from unnecessary delays.
We, at Altaresh BMS, strive hard to help you with offshore company registration in Dubai by making all the legal processes easy for you. If you are looking to register your offshore company then go nowhere as we are here to help you.
Offshore Company is exempted from paying tax & can operate with full ownership in UAE.
Offshore Company can be defined as a corporation formed in a foreign country that can only operate outside its country of formation.
Offshore Companies are allowed to open multi-currency accounts in Dubai and carry out business internationally. They may not carry the business with local residents in the UAE or have physical premises within the UAE.
What Are The Benefits of Offshore Company:
- Offshore companies enjoy the tax-free policy.
- It has 100% foreign ownership
- The offshore company has international invoicing
- You can form a Limited Liability Company.
- Multi-currency bank accounts in the United Arab Emirates.
- Full ownership of the shares.
- Thorough confidentiality
- Bank accounts that support multiple currencies
Salient Features of an Offshore Company in UAE:
An offshore company in Dubai has the below mentioned salient features:
- The director or shareholder of an offshore company can be a non-UAE or UAE resident.
- Offshore companies have the flexibility to maintain worldwide or UAE bank deposits and bank accounts.
- There are no obligations to maintain records or books.
- The shareholder needs not to be physically present in UAE for company incorporation.
- It gives a special license that has to be used for insurance and banking operations of the business.
- It rules out the prerequisite to conducting business within the UAE.
- The shareholders do not need to obtain a UAE residency visa.
Why Choose an Offshore Company?
Owning an offshore company in the UAE will let you run a profitable business. It ensures 100% ownership of assets in the UAE. Moreover, it also keeps you off certain procedures while availing of the lucrative tax benefits. There are some other reasons to opt for an offshore company. These are:
The offshore businesses can be structured in a manner that the company avails maximum profit while minimizing the overall tax liability.
If a person seeks anonymity, then some procedures can help in keeping the name of the underlying person confidential.
An offshore business is a good catch for international businesses. The nature of business and flexible policies make it a pro-foreign investment venture.
For regular businesses, when a property is sold, some part of the value gets transferred to the authority. This transfer fee can be avoided in the case of selling an offshore business.
There are very limited property developers around the globe that allow more than single ownership of a property. For offshore companies, the number of shareholders can range from 1 to 50 and the entire company owns the property.
Various local, as well as international banks operating in UAE, offer specialized offshore corporate bank accounts.
- International Trade
- Property Transfer
- Multiple Investors
- Bank Account
- Economic Stability
The offshore companies have advanced banking system, flexible legislative framework, latest telecommunication, simple incorporation, and easy filing requirements. All these parameters add up to a more stable economic system.
Procedures to Register an Offshore Company in Dubai, UAE
- You should decide on a Company Name.
- Confirming scope of Activities Company is involved like trading, consultancy etc.
- Important to finalize one Director, Secretary & Shareholder.
- Choose Capital of the Company as there is no limit on the capital invested in the business.
- Completion of all documentation process is required.
- Application Form with documents needs to be signed by Director, Secretary & Shareholder.
- After submission of all documents, you will receive a Memorandum of Association (MoA), Share Certificate and Certificate of Incorporation.
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Why choose offshore consultancy services?
Setting up an offshore company in Dubai will benefit you monetarily. It provides a favorable environment for the growth and flourishment of businesses. However, before you set into this vast arena, there are a few factors that you need to consider. When setting up an offshore business in any part of the world, there are a certain set of rules and regulations that need to be followed as per the protocols of the region. Hence, it becomes important to understand, identify, and deal with all the issues that can arise at any point in time. Therefore, it becomes a must to seek help from an offshore company formation services.