Everything You Should Know Before Registering an Offshore Company in Dubaiby Bounnie Miller Content Writter
Dubai is an economically sound country and a global hub of commerce. It is one of the renowned jurisdictions in the world known for incorporating offshore companies. Since it offers a business-friendly environment, starting a business in Dubai leads to high profits and global customer reach.
When you register an offshore company in Dubai, it will be fully exempted from taxation, and you will be permitted to open banks accounts within Dubai as well as abroad.
The main features/benefits of an offshore company in Dubai include:
- Low or zero taxes
- Freedom from state regulation
- Ease of international operations
- There is a higher level of confidentiality of business information
- The shareholder of the company is also eligible to operate the company
- A director of an offshore company can be nominal. They can have any citizenship
- It is quite easy to register an offshore company in Dubai. The incorporation process is faster.
Steps for Registering an Offshore Company In Dubai
Here are the steps to register an offshore company:
Decide the Name of the Company
The first and foremost thing is to choose the name for your offshore company. It is always better to give three names for the company so that the registration authorities can finalize one out of them. Also, make sure that the company name ends with Ltd or Limited only.
Confirm the Scope of Activity
By default, offshore companies are General Trading firms. However, others may include consultancy, investing in property or to acting as a holding company.
Finalize the Shareholders, Director And Secretary For Your Company
For an offshore company, you are allowed to have one shareholder, one director and one secretary. Each of these can either be an individual or a corporate entity. The legal name, address, contact details and other mandatory documentation will also be required during registration.
Choose the Capital
For offshore company setup in uae, there is no limit for investing in your business' capital. The capital of your company can be any amount, and it can be divided into any denomination.
The following documents are generally required to register an offshore company in Dubai:
- Authentic copy of the Passport of the shareholder and the director of the company
- Original proof of address- if you are using your utility bill, telephone bill, etc., as address proof it should not be older than three months
- A reference letter from the bank
- A brief resume of the shareholder
This guide will help you in smooth registration of your offshore company.
Created on Dec 4th 2019 06:03. Viewed 747 times.