- August 9, 2016
- Posted by: Aswani
- Category: Blog
Over the years UAE has emerged as a global business hub. Its several advantages such as strategic location, diversified and open market, with outstanding growth potential has made it a lucrative investment destination for foreign investors.
The UAE market offers several business entity options like, Free Zone Company, Limited Liability Company, joint venture, Professional firms and Offshore Company etc. However, the UAE offshore company formation is considered as one of the most advantageous of all.
Benefits of UAE offshore company formation
The sole reason of establishing any business is to reap long-term profits from it. Hence, UAE is fast emerging as an appealing destination because of the huge financial rewards that accompany numerous projects. However, the benefits of offshore company formation in UAE are not just limited to the financial aspects. The several advantages of offshore business are listed below.
Besides the benefit of tax exemption, the offshore company formation in UAE allows 100% foreign ownership.
An offshore company can be in virtual form. It is not necessary for an offshore company to have an office in UAE. However, it may own real estate properties which are approved by the authorities of the UAE.
An offshore company respects privacy and the business can be carried out in complete anonymity. Moreover, it is not necessary for an offshore company to hold public record of directors and shareholders.
An offshore company is registered faster as it has a faster incorporation process.
An offshore company can open a corporate bank account, which is largely flexible. The bank accounts can support multiple currencies.
An offshore company is exempted from any income tax, corporate tax, personal tax or custom duty.
It is not necessary for an investor to meet the authorities in order to incorporate the company. A registered agent can get the documents signed by the investor at his/ her office and complete the procedure.
Guidelines to UAE offshore company formation should follow:
The company name should not pursue listed businesses such as banking or insurance. The company name should end only with LTD, Ltd, LIMITED or Limited.
The number of Director, Shareholder, and secretary is limited to one. Each of these should have visited UAE in the last 6 months and should be able to show an entry stamp on passport.
The time period of company incorporation can take as long as 24 to 48 hours. However, the time period to open bank account can take 2 to 4 weeks depending on the corporate structure.
Why Choose an Offshore Consultancy Service
In order to setup an offshore company in any part of world one requires thorough research and understanding of legal formalities. Hence, it is advisable to opt for an offshore consultancy service who is an expert in establishing offshore companies. This offshore consultancy service will help you in UAE offshore company formation and render services necessary to complete the legal procedure.
So, setting up your business in UAE can reap good profits even with limited capital investment if you have the support of a reliable offshore consultancy service.