Ingenious Corporate Services – Company Set-up in Dubai, United Arab Emirates
Offshore Company Setup in UAE
A cartload of opportunities, high-quality life, business-friendly policies, a wide range of cultural and economic variations, world-class roads, air and sea connections, high subsidies, a professional environment, trailblazing economic zones, presence of the world’s best talent, negligible taxes and the whole nine yards, it’s not difficult to see why investors and entrepreneurs from the world over are enamored of the United Arab Emirates for their first or the next venture.
We all want freedom from taxes. But we want the best of the best public facilities as well. That’s why we always hanker after tax havens like the United Arab Emirates to live, work or do business. Spoiler alert: When it is about the UAE, take the term with a pinch of salt as the country is not entirely tax-free, neither for tourists, residents, and citizens nor for businesses. Several taxes such as tolls, municipality tax, excise tax, sin taxes, corporate tax on oil & gas corporations and international banks, and taxes on tourist facilities were already here. A few have been introduced in recent years, including VAT (in 2018) and federal corporate tax (in 2022). Despite the pinch of tax salt, the country doesn’t lose its desirability for business formation amongst foreign investors. One of many reasons that make the country a top choice for business setup worldwide is that all its popular emirates offer modern, bespoke jurisdictions for company formation – Onshore (or Mainland), Free zone, and Offshore – each with unique perks. And just like the former two, the latter is an equally great option for company formation in the UAE. While onshore and free zone companies can operate from within the UAE, offshore companies can’t. As the name implies, offshore entities are authorized to function outside the UAE. Suppose you are looking to register a company in the UAE but don’t want to be subject to any taxes. In that case, offshore company formation is just right for you. How? That’s what this page will talk about.
Why should I set up an offshore business in the UAE?
Presently, foreign investors have three choices for offshore company registration in UAE. Here’re they:
- Ras Al Khaimah International Corporate Centre (RAKICC)
- Jebel Ali Free Zone (JAFZA)
- Ajman Free Zone
What is offshore company formation in UAE?
Often confused with UAE Free Zone companies, an offshore company in UAE is a legal business entity formed to carry out economic activities outside its registered jurisdiction and/or the location of its ultimate ownership. The primary reason for utilizing an offshore corporate structure is tax savings. However, when it comes to offshore company setup in UAE, there are myriad other reasons too.
How to register an offshore company in the UAE?
The offshore business setup process is as easy as ABC. Just three steps, and voila!
Step 1
Obtain an office address for your offshore company. A registered agent in the chosen free zone providing offshore company formation will help you with that.
Step 2
Prepare all the company corporation documents as per the checklist. Contact us for more information on paperwork.
Step 3
Submit all the relevant documents along with your application to the intended free zone authority and receive your certificate of incorporation.
How to register an offshore company in the UAE?
The offshore business setup process is as easy as ABC. Just three steps, and voila!
Step 1
Obtain an office address for your offshore company. A registered agent in the chosen free zone providing offshore company formation will help you with that.
Step 2
Prepare all the company corporation documents as per the checklist. Contact us for more information on paperwork.
Step 3
Submit all the relevant documents along with your application to the intended free zone authority and receive your certificate of incorporation.
Why should I set up an offshore business in the UAE?
An offshore company formation in UAE brings with it a host of benefits, including:
- An offshore company in UAE is not subject to any taxes, unlike all Mainland and some free zone establishments.
- The offshore corporate form acts as a gateway for international market expansion.
- A UAE offshore company can access a stable and business-friendly legal system.
- The regulatory regime is more flexible for offshore companies in UAE.
- UAE-based offshore businesses can enjoy tax neutrality on international earnings in respect of (depending on the jurisdiction) personal or company income, capital gains, and inheritance taxes.
- Global funding is comparatively easy for offshore establishments in UAE.
- It provides a vehicle to separate or protect assets, such as Intellectual Property, from operating entities.
- 100% foreign ownership
- The easy and swift company incorporation process
- No restrictions on the number of shareholders
- The Corporate Director is permitted.
- No office requirement
- Cost-efficient registration and renewal fees
- No requirement to file financial accounts
- No requirement for minimum capital
- Constitutional documents can be issued in dual languages.
For professional assistance in offshore company incorporation in UAE
Contact us, your offshore business setup consultant in Dubai, UAE, at Ingenious Corporate Services and share your requirements. Our company setup experts will help you every step of the way to your offshore company in the jurisdiction. Book your free Zoom consultation right here, to ensure we are the right business advisor for you.
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