Offshore Company Formation
An offshore company is a company that does not carry any substantial business activities in its country of formation. Literally, the word “offshore” means “beyond anything”, and in this context means a legal form of organization that is outside the jurisdiction of the country, which has no office in its territory, nor is it engaged in business activities in the country. Typically, an offshore company is organized for the purpose of investment, acquisition of equity of third party organizations, financing, registration of patents, purchase of real estate and yachts and tax planning (both personal and corporate).
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Mostly one would open an offshore company to secure confidentiality over their financial matters and increase wealth without interruption.
Offshore companies can eliminate or cut down many types of tax payments such as: Capital gains, V.A.T., Death duty, profits on business earnings and property sales.
Amidst the variety of offshore zones, the United Arab Emirates stands out for its impeccable reputation. Thanks to the transparency of the processes of registration and operation, offshore companies in UAE do not raise any concerns of fiscal authorities and international banks.
Benefits Of Opening An Offshore Company in the UAE
- 100% foreign ownership
- 100% exemption from taxes / duties
- 100% ownership in Free Zones
- No capital gains tax
- 100% foreign ownership
- 100% exemption from taxes / duties
- 100% ownership in Free Zones
- No capital gains tax
Main Features Of A UAE Offshore Company
- It does not need to have physical offices in the UAE
- t may not carry on business within the UAE
- It may not obtain UAE residence visa
- It may have corporate shareholder/corporate director
- It may have UAE resident as director or shareholder
- It may have non UAE resident as director or shareholder
- It does not require the shareholder/ director to be physically present in the UAE during the incorporation of the Company
- It may own real estate in the UAE, with prior authorization from RAK Investment Authority
- 100% exemption from taxes / duties
- It may maintain bank accounts and deposits in the UAE or any other jurisdiction
- It may not do banking and insurance without special license
- It is not obliged to maintain its books and records
- It may hold shares in other UAE and worldwide Companies
- Quick set up within 48 hours
