Al Khat Al Aali
Offshore Company Formation
Offshore Company Setup : Offshore Companies are virtual companies with no office requirement or visa eligibility. The shareholders will get certificate of incorporation or provide required documents and sign their memorandum and article of association with offshore authority. Presence of expat is not required thus the company can be formed in two days subject to government approval. Offshore companies can hold bank account without any shareholder being a resident of the country
Jurisdictions of Offshore in UAE
Ajman Offshore
The Ajman Free Zone Authority is in charge of making rules for Ajman Offshore. Like other offshore jurisdictions, it has a ``zero taxation system`` and protects the privacy and security of the company. Best for IT Consultancy, Management Consultancy and Marketing
JAFZA Offshore
Jebel Ali Offshore Company is the Jebel Ali Free Zone Authority (JAFZA) introduced regulations in 2003 for the establishment of Jebel Ali Free Zone Offshore Companies. The international business community can now establish offshore entities at JAFZA in line with other international offshore jurisdictions.
RAK Offshore
RAKIA Offshore established by the Ras Al Khaimah Investment Authority (RAKIA) may not seem the obvious choice of jurisdiction, but a closer examination of the benefits that RAKIA and the UAE have to offer makes this venue an attractive option.
ADGM Offshore
ADGM is committed to providing a highly-efficient, business friendly and transparent registration platform to facilitate and process all of its dealings, We handle handles all aspects of incorporation, registration and licensing of legal entities in ADGM.
Different Steps Involved in Offshore Company Formation
A physical entity is not required for an offshore company, but it must be registered in Dubai. It offers the convenience of having a virtual office in Dubai, making it an ideal choice for businesses looking to expand internationally.
In order to establish an offshore business in the United Arab Emirates, one must go through a series of procedures. The procedure of forming an offshore company in Dubai is clear and simple.
- Select a Company Name
After deciding on the business activity it’s time to give your business a name. There are a few things to consider before naming a business in the UAE. You must adhere to a set of naming guidelines that are both strict and straightforward.
- Submit an Application for Business Setup
After deciding on a company name, applicants must complete an application form and submit a collection of supporting papers, which include address and identity proof of shareholders and directors, well-drafted business strategy, passport copies of the shareholders and directors and CV of the shareholders.
- Submission of the Documents
Following the collection of the necessary documents, they must be presented to the appropriate authorities, who will assess them and provide the necessary permissions.
- Presentation of the Memorandum and Articles of Association
Following that, the Memorandum of Association (MOA) and Articles of Association (AOA) must be written in English. After the paperwork has been prepared, they are inspected by the authority; if approved, you can start your business.
- Open a Bank Account
The final step is to create an offshore bank account, which allows business owners to conduct transactions with more convenience.
Advantages of Offshore Company
- Offshore company ensures full ownership for foreign expatriates with100% repatriation of profits. Offshore companies provide complete confidentiality and security of assets.
- An offshore business operating in Dubai is free from all annual accounting and tax responsibilities.
- The no-corporate-income-tax law benefits offshore business operations.
- Multi-currency bank accounts are permitted for offshore firms, facilitating international commercial transactions and ensuring money security.
- Banks, governments, and other organisations across the world recognize Dubai corporate documentation because they are multilingual.
- When compared to other forms of businesses in the UAE, forming an offshore company is fast and easy.
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