Offshore Company Formation Dubai | 5 Key Questions

Offshore company formation Dubai: Considerations when looking for a location for your offshore company

5 Key questions

1. How do you use an offshore company formation in Dubai to keep your wealth confidential?

Offshore company formation Dubai: If you have wealth or income, which you would like to be kept confidential then an offshore company formation in Dubai, UAE, or in Ras Al Khaimah, UAE is a safe option to take.

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The UAE is not a signatory to any treaty of disclosures or information exchange agreements. This means that no investment, trade, shares, or client information needs to be divulged.

You can register an offshore company and open its bank account in Dubai.

The advantage of this structure is that you then have your assets owned by your offshore company for as long as you wish.

All public records will show that your wealth is owned not by you but by a company, which only you know that you own.

For added confidentiality, you can choose someone else as your nominee shareholder and have this nominee give you a power of attorney.

The benefit of this is it allows you to manage the bank account and the company without your name on it.

The process is simple and confidential and can be completed in no time at all.

Your presence in the branch of your chosen bank is required only for a day. Thereafter you can manage your business via the internet.

You can choose from 3 offshore company formation jurisdiction options:

• Offshore company formation in Dubai
• Offshore company formation Ras Al Khaimah
• Offshore company formation Ajman

Ras Al Khaimah is only 90 minutes away from Dubai.

The company registrars are not legally obligated to reveal any information to anyone, even government structures, except the authorized signatory.
Banks adhere to this rule as well.

2. Why should you feel that forming and operating an offshore company in Dubai or in Ras Al Khaimah is more discreet than other places in the world?

How does Dubai differ from countries like Gibraltar, Singapore, Mauritius, Seychelles, Belize, Hong Kong, Panama, or the island of Cyprus?

About 57 million passengers traveled to Dubai in 2012 alone so your visits to Dubai will attract no attention.

This is because unlike most offshore tax havens, offshore company registration is not the main business in Dubai or Ras Al Khaimah.

Scores of global tourists visit the shores of Dubai from foreign countries for all that is on offer.

Dubai is also the thriving business hub of the entire Middle Eastern region.

Dubai is the financial home to many active, legitimate international businesses and corporations.

You can form an offshore company in Dubai or in RAK with bank accounts and visit Dubai to manage your company without attracting any attention in Dubai or your home country.

This very crowded and bustling nature of Dubai makes offshore company formation in Dubai a natural choice for those who seek confidentiality.

This is true of offshore company formation in Ras Al Khaimah too.

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3. How does Dubai and Ras Al Khaimah make it attractive for you to keep your wealth confidential?

There is no public record of an offshore company’s corporate directors or shareholders in Dubai or Ras Al Khaimah. They are not required to disclose any information to any authority.

You pay no income tax, capital gains tax, inheritance tax, or any tax on funds transfers you might make.

Dubai has no taxation department. You will not be required to appoint an accounting firm to perform an audit for tax purposes. There are no such requirements.

Therefore any personal information and details of offshore company activities will remain private in Dubai; this holds true also in Ras Al Khaimah.

Dubai, Ras Al Khaimah, and the other UAE Emirates are not parties to any international exchange of information agreements. This is not predicted to change, as Dubai and Ras Al Khaimah do not gain any taxes by participating in such treaties.

This provides you with high levels of security, privacy, and asset protection should you choose offshore company formation in Dubai or Ras Al Khaimah.

Dubai’s superior banking privacy regulations are enforced strictly; your bank account details are not in danger of being revealed. Even spouses cannot have access unless they hold a legalized authority document.

4. What options do you have in and around Dubai?

You can register your offshore company in the UAE in 3 different locations. All of which are equally confidential and you can open a bank account in a Dubai based bank.

Offshore company formation in Dubai jurisdiction is located in Jebel Ali Free Zone, Jebel Ali Offshore.

Ras Al Khaimah has located about 100 Km away from Dubai and has 2 offshore jurisdictions (RAKIA and RAK FTZ).

Ajman has located about 12 km away from Dubai.

5. How do these different zones compare? Are they equally confidential?

When you compare offshore company formation in Dubai and offshore company formation Ras Al Khaimah, your wealth is equally secure and confidential in both of them.

However, there are some important differences:

• Mainly in costs of registration
• Documents demanded from shareholders
• Permitted activities
• Property registration scope

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