Offshore Company set up in Dubai– Definition, Benefits, and activities
Setting up an offshore company set is the preferred way to start your business up in Dubai. This type of company has made UAE a perfect hub for businesses and MNCs around the world since its first inception in UAE in 2003. Offshore companies are renowned and well–supported by the UAE government.
The advantages of offshore companies are not limited to the tax and custom-free benefits, but also there are economic benefits. This fact has made the UAE one of the most vibrant destinations for investors to set up their businesses.
As one of the most booming economies globally and considered as the best places to conduct business, offshore company incorporation in UAE provides for all the essential and superior facilities for a successful business.
What is an Offshore Company?
In a financial context “offshore” refers to any business or investment made outside the country of residence. In other words, an offshore company is a legal entity established in an offshore legal center.
It can be owned by corporate bodies or individuals, and it does not perform any substantial business activity in its home country. An offshore company is not permitted to occupy office space in the UAE.
Featured attributes of an Offshore Company in Dubai
An offshore company in Dubai, or the UAE as a whole, has the following characteristics and attributes:
- Can have a director or shareholder to be non-UAE, UAE, or corporate resident.
- Can manage UAE or overseas bank accounts and deposits.
- No requirement for the shareholder/director to be actually available in the UAE for company incorporation.
- No need for an actual office in UAE
- No need to keep business within the UAE
- No need to obtain a UAE residency visa.
Activities Can be performed by Offshore companies in UAE
- Advisory and Consulting services
- Buying, selling, or holding shares of companies
- Intermediary brokers (IBs)
- General trading activities
- Professional and international services
- Investments and joint investments
- Owning property
- Shipping and ship management
Contact us to help you set up your offshore business, or for any queries related to the investment industry…