Everything About Setting Up Offshore Companies In Dubai

Undoubtedly, the offshore company incorporation in Dubai is the most efficient method of running a business. These companies are entirely exempt from the taxation systems in UAE and you are also permitted to open bank accounts inside and outside of the country.

The process of offshore company incorporation takes place within a few days and at attractive prices. You can establish different kind of businesses in this category in the UAE and also internationally. However, you cannot apply for residential visas for the directors or shareholders in offshore companies. Also, it does not allow any good to be imported into the market of UAE.

Reasons For Registering Your Business With Off-Shore Company

There are several reasons to get your business registered with offshore companies. For instance, you get to enjoy a tax-free corporate entity and low investment costs. Let’s check out the other reasons for setting up an offshore company in Dubai.

• You can choose the bank of your choice and open an account in Dubai. UAE has a plethora of banks that can prove essential and valuable for your nature of the business. So choose the most suitable bank according to your business requirements.
• You don’t need to translate your documents for written or verbal communication. Most of the people at UAE understands English and thus there will be no communication problems.
• The offshore company incorporation takes place quite fast and the costs are also not high. Further renewals and administrations can also be done without any hassle. The process might get a lot simpler if you hire a registration agent.
• The offshore companies provide support for various niches of business. You can have a word with your registration agent to get the complete list.
• Another reason is that you will get banking stability along with a business-friendly and stable legal system for your business. So you can gain access to a more flexible regulation regime with ease.

What Are The Documents Required For Setting Up Offshore Companies For Individual Shareholders?

If you have prior experience in this field, then mention that in your CV and submit it to the authority

• Photocopy of the passport. However, you might need the original copy during the opening of account in UAE.
• A reference letter from the bank
• Proof of residential address and that can also be a utility bill from your native country.

Documents Required To Set Up Offshore Companies For Individual Shareholders

In case of corporate shareholders in an offshore company, make sure you keep the following documents handy.

• A reference letter from the bank and the bank statement
• A certificate of good standing along with the latest date
• All the incorporation ICC documents including incorporation certificate and memorandum
• All documents related to the corporate shareholder directors

Initially, the process might seem complicated and you may also miss out on some of the documents. Thus, it is better to consult with an agent to set up your business smoothly. Even if you want to know about Dubai Freezone company setup cost, you are free to ask that to the registration agents in Dubai.

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