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Offshore Company Formation
There are immense ways to set up your business here in the UAE. Broadly, the business is set up in the Mainland free zone and offshore in the UAE. An offshore company can be owned by individuals or enterprises that do not carry business in its country of origin. One of the main reasons for an offshore company incorporation is that it has complete confidentiality over financial matters. The offshore company registration remains lucrative due to tax benefits, bank account opening in the UAE, international exposure, etc.
Salient features of offshore company setup
- The offshore company has no obligations to maintain its books and records.
- There is no need for a shareholder to be physically available
- No need to obtain a UAE visa
- No need to carry business within the UAE
- There is no need for physical office space
Activities that can be carried out by an Offshore company in the UAE
- Advisory services
- Shareholding companies
- Consulting services
- General trading
- International and professional services
- Owning property
Benefits of registering an offshore company
- Low-cost setup of your international business entity.
- Quick and fast company registration
- 100% foreign ownership and duty exemptions available
- Taxation benefits
- No minimum capital requirement
- Multi-currency bank accounts
- No foreign currency restrictions
Regulations for offshore companies registered in the UAE?
- Cannot do business in the Mainland
- No provisions for importing goods into the UAE market
- No leasing of office space, commercial premises or residence visa for stakeholders
There are 3 major offshore locations for entrepreneurs and businessmen:
RAK
RAK is one of the most chosen locations for company formation. It has luxurious accommodation and a comfortable spot for a business. The company formation in RAK offshore is cost-efficient and has tax exemption benefits. It provides businessmen with total banking security and privacy.
Number of shareholders required for RAK company is a minimum of 1
Document Required
- Bank reference letter
- Proof of residence
- Passport copies
- Bank statement for the last 6 months
Ajman
Ajman offshore serves as an investment medium for companies and benefits zero taxation. They are non-residents companies and does not issue an operating license. Companies will only get an incorporation certificate. Obtaining licenses in Ajman offshore company is effective and the process is hassle-free, there are multiple visa options for a business set up in here.
Number of shareholders required for Ajman company is a minimum of 1
Document Required
- Passport copy of the shareholders
- Proof of residence of the shareholders
- Bank reference letter
- MOA
JAFZA
JAFZA offshore company is well-defined as a non-resident company that has a corporate legal structure in Jebel Ali Free zone Dubai, UAE, the company formation – 2003 permits the incorporation of an offshore company by individuals or by establishments, setting up a company in JAFZA offshore allows 100% foreign ownership, taxation benefits, minimal operational cost, and easy process for incorporating.
Number of shareholders required for JAFZA company is a minimum of 1
Document Required
- Application form
- Passport copy of the shareholders
- Proof of residence of the shareholders
- Bank reference letter
MSZ Consultancy provides you complete assistance for choosing the right type of offshore company that suits your business activity. Our team of experts helps in setting up your company hassle-free. Contact us for perfect business solutions.
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1407, Mai Tower, Al Nahda, Dubai
United Arab Emirates, P.O.Box 19845
+971 58 982 7842
+971 4 229 7508
info@mszconsultancy.com
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