An offshore company is a legal business entity organized in an offshore financial center or a tax haven, being protected by specific legislation which guarantees some special status for the offshore companies formed under the jurisdiction. An offshore company generally enjoys a status of full tax exemption and a high level of privacy and security.
In the United Arab Emirates, there are two offshore jurisdictions – Dubai & Ras Al Khaimah. They offer similar services but following different strategic objectives of offshore company incorporation.Why an offshore company?
Business owners choose offshore company formations essential to take advantage of tax-saving incentives, as well as strict confidentiality laws that provide a level of security and anonymity not normally found in traditional ‘onshore’ jurisdictions. Offshore financial centers also offer supportive corporate laws, protective legal systems and appropriate asset-sheltering structures.Benefits of Offshore Company Incorporation
1.You are free to trade in any section of the UAE with few or any restrictions.
2.There are no restrictions on registration, visas and legal requirements.
3.There are no restrictions on recruitment.
4.You don’t need to conduct yearly audits.
5.It is not a standard country. The United Arab Emirates could be a ‘real’ country including a ‘real economy’ and nowadays it’s one amongst the quickest growing countries within the world with one amongst the very best standards of living.
6.UAE isn’t a part of the Organization for Economic Cooperation and Development (OECD) therefore there’s no exchange of knowledge. UAE isn’t on the OECD ‘blacklist’ of charge havens (nor the FATF blacklist).
7.UAE offshore firms benefit Physical appearance within the UAE isn’t needed for offshore company incorporation
8.Incorporation of an offshore company takes 24 hours
9.100% taxation exemption, 100% company tax freedom, 100% capital and profit return
10.No capital gains tax: no VAT (value supplemental tax); no income tax
11.It may maintain bank accounts and securities within the UAE or worldwide
12.It is not duty-bound to take care of its books and documents or give reports on its activities
13.It may hold shares in several UAE and corporations worldwide Privacy
14.Dubai offshore business directors’ and shareholders’ info isn’t public.
15.Advantageous geographical location creates notable opportunities for incorporation of business & industrial firms within the United Arab Emirates.
16.Since the UAE is found between Asia and Europe, the space from the UAE to the most powerful cities of the planet is much similar. it’s terribly simple to prepare and adjust the provision of product to numerous countries by air or ocean transport from the Emirates.
17.An important advantage of Dubai Media City Company Formation is a presence within the country of offices of enormous international banks.
18.The absence of limitations on profit payment, interchange transactions and capital movements build the UAE one amongst the safest countries for investors.
19.Another side in favor of the incorporation of business within the UAE is a stable currency.
20.The UAE follows global best practices and performs a conducive environment for businesses to operate, and presents ample opportunities for both investors from the region and around the world,
21.The government supports the private sector in a free trade regime with low tariff barriers and minimum legal hurdles.
22.A well-developed banking structure, the opening of free capital import and export, the income tax exemption and a comprehensive business protection system all these factors make doing business in the UAE promising and profitable.