Offshore Company Setup

Offshore Company Setup:

A company can be established offshore, which is away from the UAE mainland and not in a free zone. You could establish an offshore company in RAK Offshore (officially the Ras Al Khaimah International Corporate Centre or RAK ICC), which is a Company Registry containing details of offshore companies; or overseas.

An offshore company is a legal business which is established with the intention of operating outside its registered jurisdiction or location of ownership. In the majority of cases, offshore companies do not need to occupy physical office space, but in turn, it cannot undertake any extensive business activities in the country of its origin. Offshore companies can be created and owned by individuals or institutions. Its shares can also be easily and freely transferred by a written instrument without any legal restrictions.

Offshore company set up in Dubai is a fast-growing sector. It is typically built with provisions to minimise or eliminate taxes associated with property sales, capital gains, value-added tax (VAT), death duties, and profits on business earnings.

For entrepreneurs looking for offshore company registration in Dubai, they can get the favoured considerations, including the ability to create or maintain wealth, hold or protect property and other assets, and offer international trading, contracting and consulting services from a single location.

Benefits of Offshore Company setup in Dubai provide an assurance of confidentiality over ownership and related financial affairs. Establishing an offshore company in UAE provides several business benefits to an entrepreneur which includes the below:

✔            Provides a stable and business-friendly legal system.

✔            Flexible regulatory regime can be availed.

✔            Tax neutrality

✔            Separation and protection of assets is possible.

✔            Easy gateway to international markets

✔            Access to global funding

Incorporation of offshore companies is relatively easy, quick, and simplified. The establishment process of an offshore business can be completed in a few days.

Choosing a favourable jurisdiction for an offshore company registration in Dubai depends on a number of factors which are mentioned below;

⮚             Laws and regulations of the country as suitable to the business.

⮚             Political and geopolitical climate of the region in relation to future plans.

⮚             Exact nature of the business and business activity.

⮚             Type of assets that will be held by an offshore business.

Offshore companies permit 100% foreign ownership and possess free jurisdictions that levy no income tax or corporate tax. All offshore companies in UAE can open multi-currency accounts in the country and can carry out business internationally.