03 May Offshore Company Formation in Dubai – Concept and Privileges
Setting up an offshore company is the ideal way to start your business in Dubai. Since this type of company has made the UAE an ideal hub for business and multinational companies from all over the world since it was first established in the UAE in 2003. Offshore companies are highly supported by the UAE government.
Offshore companies also enjoy many, many advantages that are not limited to exemption from taxes and customs only, Rather, it goes beyond to include other economic advantages, Which made the United Arab Emirates one of the most vital destinations for investment. Being one of the most prosperous economies in the world and one of the best places to do business, Establishing an offshore company in the UAE now provides all the basic and advanced facilities to start a successful business.
What are offshore companies or offshore companies?
The word “offshore” or offshore companies refers within the financial context, To any business or any investment made outside the country of residence. In other words, An offshore company is a legal entity incorporated in an offshore legal center. can be owned by companies or individuals, These companies do not carry out any significant commercial activity in their home country. Also, an outside company may not acquire office space in the United Arab Emirates, as is the case in free zone companies and within Dubai.
Distinctive features of an offshore company in Dubai
An offshore company in Dubai enjoys: or in the United Arab Emirates as a whole, With the following advantages
– The director or shareholder can be a non-national of the United Arab Emirates, or from the United Arab Emirates, or resident
– He can manage bank accounts and deposits from inside or outside the UAE
The shareholder/manager is not required to be physically present in the United Arab Emirates to establish the company
Shareholders/Directors do not need to come in person to set up a company in the UAE
Having a physical office in the UAE is not necessary
Maintaining business records within the UAE is not necessary
– No need to obtain a UAE residence visa
Activities suitable for offshore companies in the United Arab Emirates
Consulting services
Buying, selling or owning shares of companies
– Brokers (IBs)
General trading activities
Professional and international services
– Possession
A – Investment and joint investments
– Shipping (sea transportation) and ship management
Contact us now to help you establish your offshore company. And for any other inquiries in the field of investment in the Emirates, the Etqan team is ready to help.
Contact us today and get a free consultation to implement all your business plans!