- December 18, 2015
- Posted by: aon
- Category: Blog
UAE Offshore Company – A Lucrative Business Option
With an environment that’s conducive to setting up a business, state-of-the-art infrastructure, strategic location between Asia, Africa and Europe, tax free nation and a growing economy, United Arab Emirates is among the leading nations where establishing an offshore company is a sure-shot profitable venture for international entrepreneurs and investors.
UAE majorly has four offshore jurisdictions. These are Ajman Offshore, JAFZA (Jebel Ali Free Zone Offshore), RAKIA (Ras Ul Khaimah Investment Authority) and RAK FTZ (Ras Ul Kahimah Free Trade Zone Offshore). For those planning to set up an offshore company in UAE, here are some features and regulations you must be aware of: –
- There is no restriction on the company’s capital.
- Minimum of one shareholder and director are required for incorporating an offshore company.
- All shares must be fully paid at the time of allocation and bearer shares or differential class of shares is not permitted.
- There is no obligation of depositing the capital raised in bank.
- 100 per cent duty and tax exemptions exist for UAE offshore company incorporation.
- It is essential to seek the assistance of an agent (legal firms, consultants, auditors) from the approved list of registered agents maintained by the UAE free zone for establishing an offshore company.
- It is not necessary for the investors to visit the authorities for incorporating the company. However, they are required to duly sign all the relevant documents at the registered agent’s office.
- Zero corporate tax applies for first 50 years.
- There are no currency restrictions attached.
While incorporating an offshore company in UAE may seem to be an easy process, often businesses face problems during the setup due to lack of proper knowledge about UAE’s commercial laws and regulations. Therefore, it is best to seek the assistance of a professional business consultant who can guide you through the entire incorporation process and even take care of all the legal formalities that follow.
Establish your own offshore company in UAE and enjoy the perks of a global presence.