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Offshore Company Formation in Dubai
Conduct your Business in any part of the world & get the perks of UAE’s Investor Friendly Law’s.
Overview of Offshore Company in Dubai
An offshore company in Dubai refers to a corporation established outside of one’s national boundaries, primarily for the purposes of financial, legal and tax benefits.
Governed by the respective Offshore Authority, these companies are often formed in designated areas known as ‘offshore jurisdictions’, or ‘tax havens’.
Offshore companies in Dubai, while not allowed to conduct business within the UAE, provide a robust platform for international trading, asset protection, tax planning, and confidentiality.
Company in Dubai
100% Tax
Exemption
No Import/Export Duty
Full Foreign Ownership Rights
Profit and Capital Repatriation
No Physical Office Requirement
Business Anonymity/Confidentiality
No Currency Regulations
Ease of International Transactions
Scope for Business Expansion
Single Shareholder Allowance
No Minimum Capital Requirement
Offshore Locations in Dubai
In the UAE, the allure of establishing Offshore Companies is primarily centered around three jurisdictions: Ras Al Khaimah (RAK), the Jebel Ali Free Zone (JAFZA), and Ajman Offshore.
These zones have carved a niche for themselves in the global business landscape, thanks to their tax friendly stances, which include exemptions from income or corporate tax, and their open door policy allowing 100% foreign ownership.
Bolstering the UAE’s position further, it has inked Double Tax Treaty agreements with over 40 countries, facilitating smoother international business operations.
Features of Offshore Locations
Offshore locations such as Ras Al Khaimah (RAK), Jebel Ali Free Zone (JAFZA), and Ajman offer unique features that cater to various business needs. Each location provides distinct advantages and operational considerations, making them attractive options for businesses looking to optimize their global operations.
- Cost Effective: Ideal for startups and SMEs due to its budget friendly setup and operational costs.
- Streamlined Processes: Simplified registration and licensing procedures.
- Tax Benefits: Exemption from income and corporate tax.
- Foreign Ownership: Allows 100% foreign ownership.
- Banking: Permits opening of multi currency accounts in the UAE.
- Operational Limitations: Cannot engage in business with UAE residents or establish physical offices in the UAE.
- Property Ownership: Exclusive right for offshore companies to own property in Dubai.
- Tax Advantages: No income or corporate tax.
- Full Foreign Ownership: Permits 100% foreign ownership.
- Banking: Allows for the management of multi currency accounts
within the UAE. - Strategic Location: Positioned close to one of the world’s busiest
ports, facilitating global trade. - Operational Limitations: Restricted from doing business with UAE
residents or having physical premises in the UAE.
- Quick Setup: Known for its rapid company registration and setup procedures.
- Efficient Framework: Reduced bureaucratic hurdles, making business operations smoother.
- Tax Benefits: Exempt from income and corporate tax.
- Foreign Ownership: Allows 100% foreign ownership.
- Banking: Facilitates the opening of multi currency accounts in the UAE.
- Strategic Location: Proximity to both Dubai and Sharjah, offering logistical advantages.
- Operational Limitations: Restricted from doing business with UAE residents or having physical premises in the UAE.
Documents required for Offshore Company
Formation in Dubai
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Application Form
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Address Proof
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Passport Copy of the Designated Manager
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Notarized Memorandum of Association (MOA)
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Bank Details & Reference Letter
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Passport Copies of Owner and Shareholders
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Business Plan
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Curriculum Vitae (CV)
FREQUENTLY ASKED QUESTIONS
Dubai indeed offers the possibility of setting up offshore companies. These companies are registered in Dubai but are primarily designed for business operations outside the jurisdiction of its formation.
The process of starting an offshore company in the UAE involves multiple steps: firstly, you have to choose a suitable jurisdiction and decide on the type of company. Following this, you need to gain approval for your company name and business activities, submit all the necessary documentation, and pay the relevant fees. Contact us to know more.
In Dubai, an offshore company is a type of business entity which, despite being legally registered within the city, primarily conducts its operations outside of the locale or the place of its ultimate ownership.
Amongst Dubai's offshore jurisdictions, the Jebel Ali Free Zone stands out for its affordability. It offers competitive pricing structures and a streamlined registration process, making it a cost-effective choice for offshore company formation.
An offshore company registered in Dubai can indeed open a bank account, but they should be prepared to fulfil stricter requirements. These increased measures are part of global banking standards and regulations designed to combat money laundering.
The UAE is home to three primary offshore jurisdictions: Jebel Ali in Dubai, Ras Al Khaimah, and Ajman. These jurisdictions each have their unique benefits, offering a range of options for businesses planning to set up an offshore company.
Offshore companies established in Dubai enjoy a tax-free status. This means that they're not subject to any local or national taxation, thus providing a beneficial environment for international business operations.
With its strategic geographic location, a robust economy, political stability, and zero-tax policy, the UAE ranks as one of the prime locations globally for setting up an offshore company.
Companies may choose to offshore for various reasons. The principal advantages often include lower operational and labour costs, efficient tax structures, global market accessibility, and the ability to take advantage of certain regulations that are specific to the offshore jurisdiction.
Freezone and offshore companies in the UAE have different operational scopes. While a Freezone company is permitted to conduct business within its specific Freezone, throughout the UAE, and overseas, an offshore company is mainly structured for operations outside the UAE.
The jurisdictions for offshore companies in the UAE are strategically placed within specific areas known as offshore jurisdictions. These areas include Jebel Ali in Dubai, Ras Al Khaimah, and Ajman.
An offshore license in the UAE is a crucial legal permit that allows an offshore company to function in accordance with the regulations of its specific offshore jurisdiction.
Offshore companies, as a general rule, are not permitted to buy property in mainland Dubai. However, they may be eligible to invest in real estate within designated freehold areas or other specific zones, subject to certain regulations.
While the UAE is frequently considered a tax haven due to its zero-tax policy for both onshore and offshore companies, it's worth noting that the country has adopted a range of measures to align with international tax transparency and anti-money laundering standards.
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