Offshore Company formation in Dubai
Dubai has opened its doors wide for the business world. The emirate has done a tremendous job in building the ideal workspace, be it in the free zone, offshore, or mainland. They have not compromised on the quality of the infrastructure or any other service for that matter. Investors from across the globe have been rushing into the emirate, to enjoy its extravagant ambience, business policies, and all other factors that point to the unique world it has created for global investors. Setting up of business in Dubai has become a life goal for many and the demand for offshore companies is on the rise. Tax benefits have always remained the prime attraction for offshore business formation but despite it, the infrastructure, strategic location, business policies, and easy access has paved way for this trend.
Offshore Company Formation in Dubai
Offshore is a major jurisdiction for setting up a business, but what exactly is an offshore company?
An offshore company is a business entity that is formed in a low-tax or no-tax jurisdiction with the intention to legally minimize the tax payment and enhance the investor‘s wealth management. An offshore company in Dubai can have a single shareholder and can even have shares in other companies. It need not be a physical entity but must be registered in Dubai. It provides the luxury of having a virtual office in Dubai, making it the perfect option for those companies that wish to open up international branches.
What are the features of an offshore company?
- 100% ownership for foreign expatriates
- 100% repatriation of profits
- No currency restrictions
- No minimum capital required
- Complete confidentiality and security of assets
- Can conduct international business
- Can maintain corporate bank accounts in UAE
Dubai has one offshore jurisdiction and that is JAFZA offshore. Jebel Ali Free Zone(JAFZA) is an ideal and most preferred location to flourish your business; thanks to the multitude of opportunities and facilities it offers. A global hub for trading and manufacturing, JAFZA offshore promises utmost confidentiality and privacy.
How to set up an offshore company in JAFZA, Dubai?
In order to set up an offshore company in Dubai, all you have to do is fill up an application and provide the necessary (given below) documents:
- Passport copies of all share holders
- CVs of share holders
- Address proof (it could be the lease agreement, utility bills, etc.)
- Reference letter from the bank or bank statement of the past 6 months, if required
- 3 desired names for the company
- Type of business activity chosen
It usually takes 10-12 working days to set up an offshore company in JAFZA.
Business setup service provider for offshore company setup in Dubai
A business consultant or a business setup service provider will assist in completing the entire business registration process and will make things easier for you. They will look into the required documents and do the needful and will even get the approval form.
Jumeira Consultants have been helping clients with offshore company formation in Dubai for years and with our ample knowledge about the emirate and the jurisdiction, we can be of great help to you. We also provide investment options for offshore companies. Jumeira Consultants have a team of experienced and professionally qualified personnel to look into the requirements of our clients. We ensure to offer accurate and timely services and never compromise on the quality of our service. Jumeira Consultants has been updating ourselves with the changes in company incorporation rules and regulations as well.
Apart from business setup services, we offer business consultancy services, mergers and acquisitions, tax residency certificates, trade licenses and many other services.