A Guide To Setup An Offshore Company In The UAE

A Guide To Setup An Offshore Company In The UAE

 

The United Arab Emirates has been an investment destination for a long time. The country offers an excellent business infrastructure, and thus many small and large investors show keenness in investing in this country. For offshore company creation in the UAE, one does not need to undergo any hassles. Following a few simple steps will ensure setting up your offshore company at this place.

Before starting an offshore company in Dubai, you must learn a few crucial things. Knowing the things will make the process easier and swifter. Nevertheless, knowing about investment destinations, tax policies, and other aspects will smoother your investment process.

Benefits of Offshore Company in the UAE

Setting up an offshore company in the UAE is beneficial from multiple aspects. Firstly, the UAE is a well-known business investment destination. Secondly, the country has an impressive ranking in the ease of doing business index. Find some other benefits of investing in the UAE in the following section.

  • Offshore company owners do not have to pay customs duty and additional taxes.
  • The UAE government encourages investments by permitting 100% foreign ownership.
  • Depositing money in the offshore bank account is not mandatory.
  • Investors can invest in any currency of their choice.
  • Opening a corporate bank account in the UAE is simple.
  • The overall cost of offshore company formation in the UAE is affordable.

How Can You Setup Offshore Company in Dubai?

The offshore company creation in the UAE is simple and convenient. Typically, you will find two methods for company formation in this country. Find a guide to these two methods in the following section.

  1. JAFZA

Offshore company formation through the Jebel Ali Freezone Authority (JAFZA) is a simple process, and it brings all the benefits mentioned above for offshore investors. Additionally, the investors will obtain added security and privacy if they invest through JAFZA.

There should be one investor for an offshore company formation. Additionally, there should be two directors and a secretary. A shareholder can be a director and secretary if necessary. Another crucial criterion is having a registered office address in Dubai or other places of the UAE.

After company formation, one should maintain the business accounts with transparency. Every business account must undergo an audit at least once a year. Furthermore, every company formed under the JAFZA should have the word “Limited” in the end.

  1. RAK ICC

Incorporating a company under the Ras Al Khaimah International Corporate Centre (RAK ICC) is cheaper and simpler. A company should have one shareholder, one secretary, and one director. One person can play all three roles in the company formation process. Therefore, small investors have minimal hassles to start an offshore company in the UAE.

Companies formed under the RAK ICC should have written “Incorporated” or “Limited” in the end. There are some restrictions for the companies dealing with finances, funds, trusts, and insurance policies.

You can visit Emirabiz for information and guidance on company formation in the UAE. It offers full guidance on the business setup process in Dubai and other parts of the UAE. 

 

Danny White