- February 20, 2017
- Posted by: Aswani
- Category: Blog
A company often loses a considerable amount of profit in the form of taxes and custom duties. A high degree of taxation also escalates the operational costs within the company. In such a scenario, many entrepreneurs prefer setting up their business in an area, which has minimal taxation policy.
Why Form an Offshore Company in Dubai?
In order to ensure that your organization is not losing out its profit by paying a huge amount of taxes, one should consider setting up an Offshore Company in Dubai. An Offshore Company in Dubai is one of the most profitable settlements. The benefits of this type of formation are listed below:
Huge minimization of taxes
One can conduct his business in complete confidentiality
One need not set up a huge administrative office
This reduces the operational cost of the company. One need not take place on rent to set up his office.
It has a lower capital requirement
The owner can enjoy 100% ownership of the Offshore Company.
Offshore Company has a quick incorporation time.
An Offshore Company can have a bank account that supports multiple currencies.
Therefore, one should set up his business with the help of consultancies who offer offshore company formation service in Dubai.
How to apply for offshore company formation?
In order to ensure the successful setup of an offshore company, keep the following things in mind:
An Offshore Company cannot conduct its business in fields like banking, insurance etc.
The Company name should end with limited or LTD.
There can be one Shareholder, Director and Secretary or it can be a corporate entity.
One should have visited Dubai in the past 6 months to show an entry stamp on the passport.
The Offshore Company formation is easy but the screening process is stringent. Therefore, it is advisable to seek a business consultant in Dubai, which will help you a lot in forming your business. By doing this, you ensure that the business incorporation is accomplished at the earliest.