Establishing an Offshore company in Dubai offers numerous benefits for international investors and businesses. Dubai’s strategic location, robust infrastructure, and favorable regulatory environment make it an ideal choice for Offshore company formation in Dubai. This guide will walk you through the essentials of setting up your business in Dubai with QuickPlus, ensuring a seamless and successful process.
What is an Offshore company in Dubai?
Offshore companies in Dubai are legal entities that allow foreign investors to conduct business outside the UAE. These companies benefit from various advantages, including tax exemptions, confidentiality, and asset protection. Offshore company formation in Dubai is regulated by authorities such as Jebel Ali Free Zone Authority (JAFZA) and RAK International Corporate Centre (RAK ICC).
Why Choose QuickPlus?
Offshore companies in Dubai enjoy complete tax exemptions on corporate income, personal income, and capital gains. This makes it a highly attractive option for international businesses looking to minimize tax liabilities.
Dubai provides a high level of confidentiality for Offshore investments. Shareholder and director information is not publicly disclosed, ensuring privacy and protection of business interests.
Offshore company in Dubai offers full asset protection, shielding assets from potential liabilities and political instability in other regions.
The process of setting up an Offshore company in Dubai is straightforward and efficient. With the help of QuickPlus, the entire process can be completed swiftly, allowing businesses to commence operations without delay.
Why Choose
QuickPlus?
Offshore companies in Dubai enjoy complete tax exemptions on corporate income, personal income, and capital gains. This makes it a highly attractive option for international businesses looking to minimize tax liabilities.
Dubai provides a high level of confidentiality for Offshore investments. Shareholder and director information is not publicly disclosed, ensuring privacy and protection of business interests.
Offshore company in Dubai offers full asset protection, shielding assets from potential liabilities and political instability in other regions.
The process of setting up an Offshore company in Dubai is straightforward and efficient. With the help of QuickPlus, the entire process can be completed swiftly, allowing businesses to commence operations without delay.
Steps to Start an Offshore
Company in Dubai?
1.Choose Your Business Structure
Determine the type of Offshore company that best suits your business needs. Common structures include International Business Company (IBC) and Special Purpose Vehicle (SPV).
2.Select a Jurisdiction
Choose the appropriate jurisdiction for your Offshore company. Popular options in Dubai include JAFZA and RAK ICC. Each jurisdiction offers unique benefits and caters to different business activities.
3.Register Your Company Name
Select and register a unique company name that complies with the regulations of the chosen jurisdiction. The name should not include any restricted words or imply a connection with the UAE government.
4.Submit Required Documentation
Prepare and submit the necessary documentation, including passport copies of shareholders and directors, proof of address, and a detailed business plan. These documents ensure compliance with local regulations and facilitate the approval process.
5.Obtain a Trade License
Apply for a trade license from the relevant authority. The type of license required depends on the nature of your business activities. Common licenses include commercial, service, and holding licenses.
6.Open a Corporate Bank Account
After obtaining your trade license, open a corporate bank account with a reputable bank in Dubai. This is essential for managing business finances and conducting international transactions.
7.Lease Office Space (if required)
Depending on the jurisdiction and business activities, you may need to lease office space. Options range from virtual offices to fully serviced offices within the free zones.
Top Offshore Company
Options in Dubai?
1. Jebel Ali Free Zone Authority (JAFZA)
JAFZA is one of the largest and most prestigious free zones in Dubai, offering world-class infrastructure and a wide range of business support services. It is ideal for businesses engaged in international trade and logistics.
2. RAK International Corporate Centre (RAK ICC)
RAK ICC is known for its cost-effective solutions and streamlined setup process. It is suitable for holding companies, asset protection, and international trading businesses.
Benefits of Offshore Company in Dubai?
Strategic Location
Dubai’s strategic location provides easy access to major markets in the Middle East, Europe, Asia, and Africa, making it an ideal hub for international business operations.
Advanced Infrastructure
Dubai boasts advanced infrastructure, including world-class airports, ports, and telecommunications networks, supporting efficient business operations.
Business-Friendly Environment
Dubai’s regulatory environment is highly advantageous to businesses, with streamlined processes and support from local authorities to ensure quick and efficient company formation.
Diverse Business Opportunities
Offshore companies in Dubai can engage in a wide range of business activities, from international trade and logistics to consultancy and asset management.
Simplify Your Offshore Company Formation with QuickPlus
Navigating the complexities of Offshore company formation can be intimidating. Let QuickPlus assist you by becoming your trusted partner for a seamless and hassle-free Offshore business setup. Experience the convenience of dealing with experts who have in-depth knowledge of the process and can handle everything from documentation to regulatory compliance. Focus on your core business while we take care of the rest QuickPlus offers comprehensive services to ensure your Offshore company in Dubai is smooth and successful. Contact us today to start your journey towards establishing a thriving Offshore business in Dubai.
Frequently Asked
Questions
What is the process for setting up a UAE Offshore company?
- Business plan (At least for 3 years)
- Original Bank reference letter or 6 monthly bank statements (stamped by the bank)
- Proof of Address (e.g., Utility bills)
- CV of the shareholders
- Passport copies of the shareholders
- 3 options for name reservation
- Business activity suitable for an International business corporation.
What are the advantages of establishing an Offshore company in the UAE?
Helping to keep your business dealings private, A simple way to reduce your tax burden, Keep your holdings safe from lawsuits, and more, Access the UAE’s world-renowned banking sector, A low-cost, simple, and speedy way to start a business, Minimal reporting requirements mean easy maintenance, Own your company 100% with no outside influence.
How can an Offshore company in the UAE help me save on taxes?
Offshore companies provide a legal means of minimizing tax burdens. In the UAE, such businesses can benefit from the country’s 0% tax rate on income and enjoy full exemption from customs tax, VAT, capital gains, and withholding tax.
What are the requirements for maintaining an Offshore company in the UAE?
Offshore companies require a minimum of one shareholder and also permit corporate shareholders. If there are international corporate shareholders, they must have attested company documents. At least two directors are required, and corporate directors are not permitted.
What is the minimum capital required to start an Offshore company in UAE?
That is correct. There is no minimum share capital requirement to start an Offshore company in the UAE. However, it is common for the memorandum of association to indicate a share capital, which can be any amount agreed upon by the shareholders.
Can non-residents own an Offshore company in the UAE?
Yes, non-residents can own an Offshore company in the UAE. Shareholders are not required to have a UAE resident visa to incorporate an Offshore company. Instead, they can obtain a certificate of incorporation. This means that individuals and businesses from outside the UAE can establish and own an Offshore company in the UAE.
How long does it take to set up an Offshore company in UAE?
To set up an Offshore company, you will need a business plan and passport copies of shareholders and directors. The process can take anywhere from 2-8 weeks.
What types of businesses are allowed to register as Offshore companies in UAE?
Here are the types of businesses that are allowed to register as Offshore companies in the UAE:
Holding company: A company that holds and manages the shares of other companies.
Joint investment company: A company formed for the purpose of managing and investing in joint ventures.
General trading company: A company that engages in the trading of various goods and products.
Consultancy services: A company that provides professional advice and expertise in a specific area.
International services: A company that provides various international services such as marketing, advertising, and logistics.
Can an Offshore company in the UAE do business within the UAE?
The UAE allows Offshore companies to open multi-currency accounts and conduct business internationally. Offshore companies are prohibited from doing business with UAE residents or having physical premises in the UAE, however.
What are the reporting requirements for an Offshore company in UAE?
Companies are required to keep accounting records for ten years from the date of preparation. Companies must appoint a professional auditor from an approved list to examine and report on those accounts.
Can an Offshore company in the UAE have a bank account in the UAE?
Yes, an Offshore company in the UAE can have a bank account in the UAE. However, the process for opening a bank account for an Offshore company may vary from that of a local company. The bank may require additional documentation and due diligence measures before opening an account. It is advisable to consult with a professional service provider or a bank representative to understand the specific requirements and procedures for opening a bank account for an Offshore company in the UAE.
How can an Offshore company in UAE benefit my international business?
Offshore companies provide a simple way to legally minimize your tax burden. In the UAE, such businesses enjoy full exemption from customs tax, VAT, capital gains, and withholding tax.
What is the difference between an Offshore company and a free zone company in UAE?
Companies registered in the Free Zone can operate business activities directly in the UAE while companies registered in the Offshore category do not have such privileges.
Are there any restrictions on the activities of an Offshore company in the UAE?
Offshore companies may have limited access to local markets in the UAE, which can restrict their business activities.
Can an Offshore company in the UAE own property in the UAE?
Offshore companies are legal persons and thus have the same rights as natural persons to own real property.
What is the role of a registered agent for an Offshore company in the UAE?
The Registered Agent serves as a mediator between the Offshore company and the Government, or between the international business company and any third parties
How can an Offshore company in UAE protect my assets?
Offshore companies in the UAE, including those in Dubai, offer asset protection measures to foreign trustees, allowing them to establish a legal barrier between creditors and assets held within the company.
Can an Offshore company in UAE hire employees?
The UAE’s zero taxation policy is advantageous to Offshore companies, but they are not authorized to sponsor residence visas for their employees. Additionally, Offshore companies are not permitted to employ workers or engage in local UAE trade.
How does an Offshore company in UAE benefit from UAE's double tax treaties?
Companies enjoy several Offshore tax benefits, such as exemption from income tax, customs duties, VAT, capital gains, and withholding tax. Moreover, the UAE’s vast network of double taxation treaties with over 100 countries offers protection to businesses from being taxed on their UAE income in their home country.
Frequently Asked
Questions
What is the process for setting up a UAE Offshore company?
- Business plan (At least for 3 years)
- Original Bank reference letter or 6 monthly bank statements (stamped by the bank)
- Proof of Address (e.g., Utility bills)
- CV of the shareholders
- Passport copies of the shareholders
- 3 options for name reservation
- Business activity suitable for an International business corporation.
What are the advantages of establishing an Offshore company in the UAE?
Helping to keep your business dealings private, A simple way to reduce your tax burden, Keep your holdings safe from lawsuits, and more, Access the UAE’s world-renowned banking sector, A low-cost, simple, and speedy way to start a business, Minimal reporting requirements mean easy maintenance, Own your company 100% with no outside influence.
How can an Offshore company in the UAE help me save on taxes?
Offshore companies provide a legal means of minimizing tax burdens. In the UAE, such businesses can benefit from the country’s 0% tax rate on income and enjoy full exemption from customs tax, VAT, capital gains, and withholding tax.
What are the requirements for maintaining an Offshore company in the UAE?
Offshore companies require a minimum of one shareholder and also permit corporate shareholders. If there are international corporate shareholders, they must have attested company documents. At least two directors are required, and corporate directors are not permitted.
What is the minimum capital required to start an Offshore company in UAE?
That is correct. There is no minimum share capital requirement to start an Offshore company in the UAE. However, it is common for the memorandum of association to indicate a share capital, which can be any amount agreed upon by the shareholders.
Can non-residents own an Offshore company in the UAE?
Yes, non-residents can own an Offshore company in the UAE. Shareholders are not required to have a UAE resident visa to incorporate an Offshore company. Instead, they can obtain a certificate of incorporation. This means that individuals and businesses from outside the UAE can establish and own an Offshore company in the UAE.
How long does it take to set up an Offshore company in UAE?
To set up an Offshore company, you will need a business plan and passport copies of shareholders and directors. The process can take anywhere from 2-8 weeks.
What types of businesses are allowed to register as Offshore companies in UAE?
Here are the types of businesses that are allowed to register as Offshore companies in the UAE:
Holding company: A company that holds and manages the shares of other companies.
Joint investment company: A company formed for the purpose of managing and investing in joint ventures.
General trading company: A company that engages in the trading of various goods and products.
Consultancy services: A company that provides professional advice and expertise in a specific area.
International services: A company that provides various international services such as marketing, advertising, and logistics.
Can an Offshore company in the UAE do business within the UAE?
The UAE allows Offshore companies to open multi-currency accounts and conduct business internationally. Offshore companies are prohibited from doing business with UAE residents or having physical premises in the UAE, however.
What are the reporting requirements for an Offshore company in UAE?
Companies are required to keep accounting records for ten years from the date of preparation. Companies must appoint a professional auditor from an approved list to examine and report on those accounts.
Can an Offshore company in the UAE have a bank account in the UAE?
Yes, an Offshore company in the UAE can have a bank account in the UAE. However, the process for opening a bank account for an Offshore company may vary from that of a local company. The bank may require additional documentation and due diligence measures before opening an account. It is advisable to consult with a professional service provider or a bank representative to understand the specific requirements and procedures for opening a bank account for an Offshore company in the UAE.
How can an Offshore company in UAE benefit my international business?
Offshore companies provide a simple way to legally minimize your tax burden. In the UAE, such businesses enjoy full exemption from customs tax, VAT, capital gains, and withholding tax.
What is the difference between an Offshore company and a free zone company in UAE?
Companies registered in the Free Zone can operate business activities directly in the UAE while companies registered in the Offshore category do not have such privileges.
Are there any restrictions on the activities of an Offshore company in the UAE?
Offshore companies may have limited access to local markets in the UAE, which can restrict their business activities.
Can an Offshore company in the UAE own property in the UAE?
Offshore companies are legal persons and thus have the same rights as natural persons to own real property.
What is the role of a registered agent for an Offshore company in the UAE?
The Registered Agent serves as a mediator between the Offshore company and the Government, or between the international business company and any third parties
How can an Offshore company in UAE protect my assets?
Offshore companies in the UAE, including those in Dubai, offer asset protection measures to foreign trustees, allowing them to establish a legal barrier between creditors and assets held within the company.
Can an Offshore company in UAE hire employees?
The UAE’s zero taxation policy is advantageous to Offshore companies, but they are not authorized to sponsor residence visas for their employees. Additionally, Offshore companies are not permitted to employ workers or engage in local UAE trade.
How does an Offshore company in UAE benefit from UAE's double tax treaties?
Companies enjoy several Offshore tax benefits, such as exemption from income tax, customs duties, VAT, capital gains, and withholding tax. Moreover, the UAE’s vast network of double taxation treaties with over 100 countries offers protection to businesses from being taxed on their UAE income in their home country.
