UAE is a land of business opportunities. There are immense ways to set up your business here in UAE. Based on the business activity, nature of business, ownership and other criterions, the options are numerous. Broadly the business is set up in Mainland, Freezone, and Offshore in the UAE.
The requirements and regulations vary across the business setup locations in the UAE with varying complexities. The most cost-effective and quick setup is the Freezone whereas the Mainland has advantages in terms of doing domestic business in the UAE (Clients/target market is inside of UAE) and the offshore has regulations in terms of executing the domestic business activity in the UAE.
Let us delve into further details on offshore business registration in the UAE, their benefits, types of business activities and their regulations.
Mainly offshore companies are registered in the three popular jurisdictions within the UAE:
- Jebel Ali
Business Activities that an Offshore Company formation is the best fit for
- Advisory Services
- Shareholding and Management of other companies
- Consulting Services
- General Trading
- International Profession Services
- Personal/Corporate Investment Companies
- Shipping Management Services
It is to be noted that there is no provision for Offshore companies to do business within the UAE. All business activities are to be channeled internationally.
Offshore Business Entities
There are two types of Offshore Business Entities:
The offshore jurisdiction allows company registration with a single stakeholder. By providing the required documents and complying with the regulations one can set up a business seamlessly in any of the offshore locations in Dubai, UAE.
For registering a corporate entity in offshore locations of UAE you are required to produce the corporate entities papers along with the documents of the individual shareholders.
The offshore authorities would require certain information on your existing company such as the incorporation certificate, certificate of good standing and bank statements in order to pass your company registration and issue the required legal permissions for operating your offshore business.
To learn more about offshore companies in Dubai, you can read our blog here: Offshore Company in Dubai
The need for a registered agent for offshore company formation is a pre-requisite in the UAE. The registered agents are the liaisons between your company and the local government entities.
The Offshore Company Incorporation Package offered by Aurion Business Consultants includes bank account opening assistance too.
Key benefits from Company Formation in UAE, Dubai Offshore
Company registration in the offshore locations of UAE will fetch you the following competitive advantages:
- Low-cost setup of your international business entity
- Quick and fast company registration – 2days
- 100% foreign ownership, tax and duty exemptions available
- Opening of Corporate Bank Account in UAE
- Registered Agent for all your paperwork, registered local address, company setup support
- Company registration in UAE with just one Stakeholder and up to 50
- Company registration in UAE with Incorporated or Limited Suffix
- Highest level of privacy protection with confidential stakeholder information
- Any proportional division of Share Capital amount by the investors
There are few regulations for the offshore companies registered in Dubai, UAE
The offshore companies registered in Dubai, UAE cannot do business within the UAE. However, they can open a bank account with the UAE banks. They can also interact with their registered agents in Dubai for business support requirements and explore new opportunities like setting up an onshore company in UAE.
The offshore companies are not allowed to import any goods to the UAE market. Neither can these companies lease offices or other commercial premises in the UAE nor can their stakeholders apply for a residency visa.
Despite the regulation, offshore company registration in the UAE seems profitable for international investors mainly due to the tax benefit. Also, the strategic location of Dubai, ease of starting an offshore company in Dubai and the opening of a bank account are other key triggers for company incorporation. Having a business license in Dubai, UAE definitely adds value to international business operations.
To know more on Offshore Company Registration in Dubai, talk to the company incorporation experts right away!
Contact Us: Aurion Business Consultants