- October 3, 2016
- Posted by: aon
- Category: Blog
UAE Offshore Company Formation and the Role of Consultancy Services
Every entrepreneur sets up his business in an attempt to secure maximum legitimate profits. However, the countries which have a high taxation percentage dig deeper in the pockets of the entrepreneurs. Besides, such situations hold back the company to go ahead and represent its brand globally.
Why Dubai is a lucrative business setup destination ?
However, Dubai has emerged out as one of the most lucrative business setup destinations. This is because Dubai has developed business friendly policies over the years which conform to maximum profit retention by the organization. Also, the location of Dubai aids to its stature of a global business market. Dubai is accessible by several countries via flights which has made it turn up as a global market.
Benefits of Offshore Formation
There are several benefits of setting up an offshore company which are listed as follows:
- It ensures 100% ownership unlike the LLC which requires a local national to be a 51% stakeholder.
- The incorporation of an offshore company is the fastest. An offshore company can be incorporated in just 2 to 3 working days.
- This respects the anonymity of the directors and stakeholders.
- The organization is the sole entity to reap the profit.
- These companies are exempted from any tax or custom duty fee.
- It gives you the freedom to run your business.
- A legal consultant can work through your documents to implement this company. You need not be present in meeting the officers at every level of the steps.
- One of the greatest benefits of setting up an offshore company is the presence of your company in virtual form. You need not find a place suitable for a representative office.
- This is ideal for any kind of business.
- There are no restrictions on the currencies which can be associated with the bank account accounts.
Things to keep in mind while forming an offshore company
Although Dubai offshore company formation is fast and easy, there are a few things which should be considered while setting up an offshore company in Dubai.
- The number of secretary, director and shareholder is limited to just one.
- Each of them should have visited the UAE in the past 6 months to show a valid entry stamp.
- The offshore company should not be setup concerning business such as banking or insurance.
- The offshore company name can end only with LTD, Ltd, LIMITED or limited.
The Role of Consultancy services
Since it is not possible for every individual to know about the procedures and policy of a different country, one can find several consultancy services to come to one’s aid. The sole aim of these services is to help in business formation, including set up an offshore company for you at the earliest.
These companies can also act as your local agents and act on the deals which will be beneficial for your company. They also make sure that all your documents are furnished in the correct manner to the right person so that the UAE offshore company formation is achieved at the earliest. Besides setup services, one can outsource different other tasks from such consultancies like payroll, business audits etc.