Offshore company registration refers to setting up a business outside the owner or owners’ country of residence.
It is an option for those who wish to avoid the complicated business setup process and business regulations in their current domicile while taking advantage of the benefits of offshore business registration.
When it comes to offshore company formation, UAE is a preferred destination. An offshore company in the UAE enjoys the following benefits.
An offshore company in the UAE is exempt from paying taxes on income, inheritance and sales. It is also exempt from corporate and personal taxes.
The UAE is a thriving logistics and trading hub with state-of-the-art airports, ports and roads. The government also continues to invest in the UAE’s logistics infrastructure. Furthermore, its strategic location makes it a stellar base of operations for trading concerns focused on Asia, Africa and Europe.
With the help of Emirates First, offshore company registration in UAE jurisdictions is a pretty straightforward process. Only one shareholder is required and, depending on the specific location of incorporation, one may not even have to travel to the UAE to complete the process.
Offshore companies in the UAE may be 100% foreign-owned. One does not need local shareholders or directors.
Offshore companies in the UAE are exempt from annual auditing. In some jurisdictions, offshore companies may even have limited rights to invest in the country’s real estate.
UAE offshore companies, moreover, are not required to make ownership and financial information public. This can help entities protect and preserve their assets, such as their intellectual property.
Finally, offshore companies registered in the UAE have no minimum capital requirements.
UAE offshore companies can open a multi-currency UAE bank account, which they can use in their transactions to save on exchange rate fees.
Offshore companies do not need to rent or buy offices in the UAE, and they do not need to hire staff. They must only have a registered business address in the UAE.
The UAE is known for its political and economic stability, and UAE offshore companies benefit from having a prestigious business address.
Offshore company registration in UAE is an ideal choice to enjoy the benefits of a secure economy, tax exemption, efficient banking and accounting system, privacy laws, and of course, the most encouraging commercial framework of the UAE.
Note that offshore companies cannot do business in the UAE, whether in the free zones or UAE mainland. They are registered in the UAE, but their business activities must be focused outside of the UA
Emirates First can answer any questions regarding the activities offshore companies are allowed to do in the UAE.