Offshore Companies in the UAE
The United Arab Emirates is an inviting place for doing business. The state is characterized by the presence of free economic zones, stable political and financial systems, and modern infrastructure. Therefore, the offshore company formation in UAE is popular among foreign investors with the help of Dynasty Business Adviser.
The country especially attracts the attention of businessmen from countries with underdeveloped economies. For them, регистрация оффшора в ОАЭ is available in JAFZA, RAKIA, and Ajman Free Zones.
Advantages and Disadvantages of Offshore Companies in the UAE
For entrepreneurs, registering a firm in the Emirates has many advantages:
Registration is fast and affordable
The opportunity to be the sole owner of the company is available
No need to report financial profit and pay income taxes
All information about a foreign businessman remains confidential
No currency restrictions
It is very convenient that in the UAE, economic zones for offshore companies are located near ports, train stations, and airports. Everything has been done to facilitate the adaptation of foreign entrepreneurs as much as possible.
As in any system, there are restrictions in registering an offshore company in the UAE:
A ban was imposed on conducting activities without a special license.
A ban on cooperation with local businesses was imposed.
A businessman is not eligible to obtain a resident visa.
However, despite this, many entrepreneurs choose the UAE because of its advantageous geographic location, which allows them to conduct various types of activities.
Registration Procedure
To register a firm, the following documents are submitted:
Copy of a passport
CV about the experience of the founder of the firm
Document confirming the place of residence
The name of the offshore company. In the end, there must be the word Limited or Ltd.
After submitting the application, all the details are clarified. An audit is underway. Legal entities additionally need to submit the constituent documents of the enterprise. Individuals need to get a checking account with one of the banks in the UAE.
