In addition to these, UAE offers a third option where global MNCs, or even an overseas company based out of a single country, can set up offshore companies in UAE. Being midway between the Far East and the West, UAE is the ideal location for a virtualized office or company setup. Unlike Mainland and Free zone companies which come with various restrictions, Offshore companies do not have any restriction, and are ideal for overseas companies who would like to invoice their international clients, from UAE. This helps them overcome trade and taxation barriers in their home country (or other countries), thereby increasing their reach to a global market and also optimize the cost of their offerings.
Currently Offshore company formation is the most popular to set up a business in the UAE. The most common benefit is an offshore company setup offers no tax or low tax. Additionally, they offer the supreme systems of wealth management, business management, multiple options of smart international investment strategies, and ease of business operations.
Offshore companies are registered in Dubai but it allows them to set business bases in offshore locations that are positioned outside the city of Dubai. Offshore company formation can take the form of limited liability companies, limited companies and limited partnerships.
Further, all physical assets and revenue accrued from the Offshore operations are fully protected with no restrictions of any kind.
Other Benefits of Offshore Company Registration in Dubai
- 100% Foreign Ownership is allowed, and shareholders need not be a UAE national
- 100% Protection for physical assets and revenue accrued from Offshore operations
- Company can have and operate multiple-currency bank accounts in the UAE
- Tax advantages – Likewise, the UAE region has attracted foreign investors due to its lenient tax regime. No corporate income tax law is the additional reason for offshore company formation.
- Office setup can be virtual; and it’s not mandatory to have an office space
- There are no limits to the capital or investments being made
- No accounting or auditing as per UAE laws is required
- Partners or employees need not have residence visas
- The company’s ownership pattern and other details can be maintained confidentially
- There is no physical transfer of funds required to incorporate the offshore company
- No restrictions on how much Foreign Exchange is procured, spent or reserved
- Easy access to labour in the UAE with no restrictions on recruitment
- Thanks to these benefits, the cost of setting up or maintaining an offshore company in the UAE is significantly low.
- Ideally suited for….
- Offshore operations in Dubai are ideal for the following types of businesses:
- General trading of goods across industry categories
- International Consulting or Advisory Services
- Professional Services such as Medical, Legal, Advertising, etc
- Shipping, Dockyard and Ship-management companies
- Brokers and Agents, across different categories of businesses
- Real Estate and Property Owning (as per UAE laws)
- Investment, Joint Investment and Wealth Management Companies
- Holding Company: Buying, Holding, Selling stakes of companies
Dubai is the central business hub that serves the entire Middle East region. It encourages foreign investors to take advantage of setting up a new business like the offshore companies. Offshore companies are owned and controlled by foreign investors, therefore offshore companies are also known as non-resident or international business companies.
Quickbiz Business Setup Services is always ready to assist with all information and procedures for offshore company formation in Dubai. You are always welcome to contact us in any way.