BUSINESS SETUP IN RAS AL KHAIMAH OFFSHORE
Start your own business in UAE
Easy Offshore business setup in Dubai with the business experts at RTS Business Consulting
If you want to start your business in the UAE and see it grow, an offshore company is perfect for you. An Offshore company is known as a non-resident company because it can be owned by a person or an enterprise that lives anywhere in the world. Although the company isn’t in Dubai, they will still get all the advantages of a UAE company like no corporate, personal, import, or export taxes. One of the main reasons for Offshore business setup in Dubai is complete confidentiality over financial matters. If you think an offshore company is right for your business, let the experts at RTS Business Consulting help you through the business setup process.
How to Setup a Company in Dubai Offshore
With tax benefits, confidentiality, low costs, and global recognition, it’s no wonder business is so popular on Dubai’s Offshore. If you’re ready to set up your company and start seeing the big benefits, there are several legal procedures that you have to go through. Here are the steps for business registration in Dubai Offshore
01 Company name
First, you’ll have to suggest three names that you want for your company. The name can’t contradict the intended business activities, and it can’t include the name of cities, countries, or continents. Registration authorities will pick the final name.
02 Determine the business activity
03 Finalize the ownership structure
04 Provide documents
05 Bank account opening
Next, you’ll have to decide what type of business you plan on having. This can be a company like a consultancy, trading, professional services, and more. Your business activity will determine your business license.
Now, you’ll have to submit the documents and your application for approval. You’ll also be issued your Certificate of Incorporation, MOA, and Share Certificates during this step.
Now, you’ll have to choose the structure of the business. This includes directors, shareholders, and principals. You’ll have to have at least one shareholder and two directors for Offshore business setup Dubai.
You’ll have to get all the documents together to apply for your bank account. You’ll need:
- Copy of passport
- Bank statement
- Bank forms
Freezone Locations
Documents required
- Copy of passports for the directors and shareholders
- Proof of address from the last three months
- A concise Curriculum Vitae of shareholders
- Reference letter issued by a Bank
- Memorandum of Association (MOA)
- Share Certificate
Features for Offshore Business Setup in Dubai
There are so many great qualities for offshore business setup in Dubai. Below are some of the features that make business on the Offshore so much unique than doing business on anywhere else in the UAE:
- The offshore company has no obligations to maintain its books and records – Because this company setup is so unique, you won’t have to inform the government about your company’s finances with audits, forms, etc.
- There is no need for a shareholder to be physically available – Shareholders do not need to have a visa in the UAE, so they don’t need to be present.
- No need to obtain a UAE visa – You won’t have to worry about visa fees and renewals because you don’t need a visa for an offshore company because a physical office is not required.
- No need to carry business within the UAE – The company is not physically in the UAE, so you don’t need to do business in the country.
- There is no need for physical office space – Since the business is done outside of the jurisdiction where the company is registered, there’s no need to have a physical office.
Companies Allowed in Offshore Dubai
- An Offshore company is like other companies in the UAE. Here are the uses of an offshore entity:
International Trading
A trading company can be formed on Dubai Offshore. How does it work? The company would have to take orders from the customer and then have the goods delivered straight from the manufacturer to the customer.
Professional Services
You can use an offshore business to have a consultancy, advisory services, or counseling business.
Property Owning Companies
You can use an Offshore company to help avoid complicated inheritance procedures.
Investment Companies
With an Offshore Company, people can invest their money in different projects.
Copyrights, Trademarks, and Patents
Any kind of copyright or trademark can be registered in the name of an offshore company.
Holding Companies
Offshore companies can be used as a holding company, so business owners can manage all their business under one structure.
Benefits to Business Setup in Dubai Offshore
- Low-cost setup of your international business entity
- Quick and fast company registration
- 100% foreign ownership and duty exemptions available
- Taxation benefits
- No minimum capital requirement
- Multi-currency bank accounts
- No foreign currency restrictions
Benefits to JAFZA Offshore Business Setup
- Jebel Ali is a jurisdiction that offers offshore companies in the UAE. The area has no levy on income tax or corporate tax and allows 100% foreign ownership. The jurisdiction is located just outside of Dubai and is just an hour away from Abu Dhabi, which is the UAE’s capital city. The area is known for being the world’s largest shipping port, which allows international companies to enjoy the special privileges of the Free Zone like no corporate tax, no personal or income tax, no import or export duties, and no restriction on the currency.
Here are the requirements for a JAFZA Offshore company:
- A minimum of one shareholder is required
- A minimum of two directors are required
- Every company must have a secretary
- No minimum share capital requirements
- Every company needs to keep accounting records for 10 ye