How to Register Offshore Company in United Arab Emirates
Credit: Iran Front Page
Opening a company on the other side of the world is no longer a dream, but a reality touched by many businessmen from different countries. An offshore company in the UAE today is one of the best opportunities for legal earnings in a developed country with low taxes.
The opening of borders has led to the fact that current entrepreneurs have the right to earn money not only in the country where they were born but also far, far beyond its borders.
Every year, the UAE is becoming a more and more popular jurisdiction among businessmen around the world. This is mainly due to the successful economic policies of Dubai and other emirates and the active efforts of the authorities to attract international business.
The UAE offshore zone stands out among other jurisdictions, because companies registered here will have a good reputation, but the tax climate and audit requirements are more like classic offshore zones. That is, it can be argued that the UAE took the best from all world zones, creating optimally comfortable conditions for foreign entrepreneurs.
Offshore zone of the United Arab Emirates is not subject to the attention of international bodies for illegal money laundering. Financial reporting in companies opened in the offshore zone of the UAE is minimized. Offshore company formation in UAE will ensure your business with impeccable reputation and confidentiality.
Key benefits of offshore company in UAE
By registering an offshore company in the UAE, you can conduct your business activities only outside the territory of the United Arab Emirates, while it is allowed to buy and own real estate in the country, as well as shares of local companies. An offshore company is allowed any legal business activity with the exception of banking and insurance business.
The main advantages of opening such type a company:
- A business can be 100% owned by foreign founders or shareholders.
- Profit is tax-free.
- There are no customs fees for export and import of goods.
- There are no restrictions on the export of capital and profits.
- It is not required to contribute to share capital.
- There is no requirement to submit an annual audit report.
- High level of privacy.
You can open a bank account for UAE offshore company both in the Emirates themselves and in any country in the world. We can recommend you bank account opening in UAE because the banking system of this country is reliable and well developed. If you decide to do it, you can choose from a variety of well-established local or well-known international banks.
Procedure for opening an offshore company
For an offshore company in the UAE, there are three possible options for registration: Jebel Ali Free Zone (Dubai), RAK Free Zone (Ras Al Khaimah) and Ajman Free Zone. There are certain differences in the requirements for investors, the cost and timing of registration in these areas, but in general, they are similar to each other. As for the process of forming an offshore company in the UAE, it usually takes several days – from 2 to 5 days depending on the type of company and the specific zone.
The first step in registering an offshore company is to select a registrar partner from among authorized companies. This partner will help you during the whole process of registration and further activity of the company; therefore, it is worthwhile to approach its choice as responsibly as possible. For example, under this link https://uae-consult.com/en you will find a reliable registrar.
After you have chosen your partner in the UAE, you need to collect a list of documents that he will tell you and send them to register the company.