Offshore company refers to a company that is formed in a jurisdiction outside one’s own jurisdiction. It is another way of saying offshore corporation. An offshore setup is one which all the activities should be based outside UAE and only banking transactions are allowed in UAE. An offshore sector helps one to setup a business […]
Investors do not need to pay corporate or personal income tax. Bank secrecy You do not have to be physically present (IN RAK) in order to start a business in the offshore jurisdiction Privacy is given utmost importance. The formation, maintenance and operation of a company in offshore jurisdiction come together with exceptional transparency of […]
Both offshore jurisdictions offer most of the services and the advantages are similar such as: Lower tax liability – No double tax agreements Limited reporting requirements Minimum capital requisites Absence of public register Strict confidentiality policies But there are some key differences as well. If you are a business looking forward to setting up a […]
There are three offshore jurisdictions in the UAE. They are: Ras Al Khaimah, ( RAK Offshore), which is under the jurisdiction of Ras Al Khaimah Investment Authority (RAKIA) Dubai Offshore, which is under the supervision of the Jebel Ali Free Zone Authority (JAFZA) Ajman Free Zone, which offers Offshore Licenses to companies that seek to […]
Free remittance of profits Security of property rights Access to tax treaties Customs and duty exemptions Greater privacy Validity and Authority of contracts Limited restrictions Higher revenues and returns Exceptional political stability Access to the best jurisdictions Banking privacy Access to foreign insurance Government cooperation Foreign investment inducements Highly stable legal systems State-of-the-art banking facilities […]
Bizvest can help you set up an offshore company in the UAE if you can furnish the following documents: Copies of passports of director and shareholder; Recommendation letter from bank; Certificate confirming residential address of shareholders- this includes statement from the account, which specifies the address; bill for payment of utility services. Bizvest provides cost […]
Exemption from taxation; 100 % ownership by foreign legal entities and individuals; No requirement for a minimum amount of registered capital; Confidentiality; No restrictions on expatriation of capital and profits; No need to provide accounting records and audit; Fast registration – within 3-5 days; No customs duties on imported and exported goods Offshore Company Formation […]
Technically this is not possible, but an Offshore company can be a shareholder of any UAE Mainland and/or Free Zone companies. This in fact permits it to engage with the UAE market and undertake business activities through a subsidiary company. But as per the law, an Offshore company cannot do business in the UAE if […]
Those businesses who do not have the primary need to participate in any business within the UAE (whether onshore or within one of the free zones) can set up a company under the offshore regulatory system. Usually the offshore based companies are Holding Companies. Some Free Zones allow these companies to act as a medium […]