1. Q: What are the facilities available from the bank?

A: The account will be a multi currency account (i.e. AED, USD, EURO, and GBP), having a same account number for all the respective currencies… There is no any restriction for transferring the money.

Moreover, the features are:

  • I-Banking
  • Debit Card
  • Cheque Book
  • E-Statement

2. Q: Why do you need me to attest the documents?

A: For confirming the validity and to make sure that someone is confirming the original.

3. Q: After Incorporation, are the renewal charges expensive?

A: No, less than incorporation charges. Not only Govt fee, but our service fee is also less. Additional charges applicable only if you require additional services.

4. Q: After incorporation, when I will get the original documents?

A: If you are in UAE within 3-4 hours after incorporation. If you are abroad we will send the documents by same day by courier.

5. Q: With an offshore company, am I eligible for a visa or for buying property in that country?

A: No, you are not eligible for visa. But you can buy properties.

6. Q: Where – meaning which jurisdictions- do you form the companies?

A: We work with individuals and corporations wanting to register an offshore company in Seychelles, Mauritius, RAK or BVI. The service depends upon the client’s requirement. Once client confirm they want an offshore company, we can open a bank account for their offshore company in any of the four locations that we offer- RAK, Seychelles, BVI or Mauritius.

7. Q: Can we do business in the UAE with a Ras Al Khaimah offshore company?

A: It is possible to have a bank account for your company in the UAE. It is also possible to raise invoices in the name of this company or sign contracts, buy property, register assets in UAE. However it is not possible to directly set up a business, distribute goods or get a trade license in the name of this company.

8. Q: Can we have an office and visa?

A: You cannot have an office or a retail space in the name of the offshore company. No visa is granted to offshore company.

9. Q: How much does it cost?

A: The costs depend upon what exactly you want – your offshore services “shopping list” – incorporation, bank account, nominee services, apostil services, and also on which jurisdiction you choose for the company. It also matter where you open the bank account. An RAK- UAE company with Dubai bank account costs USD 3800, where as in Seychelles incorporation costs about USD 2000.

10. Q: What is the advantage of having an offshore company?

A: Offshore Company being domiciled in another country is often insulated from the tax laws of the home country of the owner. It also affords confidentiality since the identity of the owners of offshore companies is never revealed unless there is a suspicion of criminal act or money laundering. Some offshore companies are also immune to local inheritance laws in most countries so it is easy to pass on assets to your descendents. Offshore company is economical to form compared to other forms of companies.

Offshore companies are faster to form than most other ways of setting up business. Being international in nature Offshore Company is a very good option to consolidate income from various activities located in different countries all over the world.

11. Q: Will Varal disclose my background to others?

A: Never, you can trust us like your wife or children. Your personal records will handle only the person who has authorized to do it and all records pertaining to you will keep in our safe.

12. Q: Can Varal set up my company within 3 days?

A: Yes – we can setup company within three days.

13. Q: If Varal is the registered agent, they can influence my banking transactions at a later stage?

A: We are authorized agents for Ras Al Khaimah Investment Authority -RAKIA for offshore incorporation. We have authorized agents working for us in other jurisdictions. We can’t check about your bank account, incorporated co and bank a/c are 2different entities.

14. Q: On what guarantee I will send the advance payment to them?

A: We are the registered company in the UAE with a trade license and an office subject to UAE laws. Not delivering after a payment is made is an offence. You can track the progress of your job on monitoring site.

15. Q: After incorporation, Varal will charge any hidden charges?

A: There is no any hidden charge.

16. Q: Which is the cheapest option, jurisdiction to make an offshore company?

A: If you want a company with a local bank account Seychelles is the cheapest option. It is however best to think this through from the point of view of business needs.

17. Q: How do you compare in price with other agents?

A: Although our prices compare favorably with other agents we like to emphasize our accent on serving the client devotedly as the return on your costs. Prices are high or low compared to what you get in return. A mistaken detail, a missed form, delayed incorporation or needless hassle can cost you more than you save.

18. Q: What is the guarantee that an offshore company is really tax immune? What happens if I get taxed?

A: In the case of tax matters it best to consult your local tax attorney for the acceptability of offshore as the solution. Tax laws differ from country to country. However most people find this – offshore – to be best solution to safeguard international assets or income from wealth or income tax.

19. 8 Reasons Why You May Think An Offshore Company With Bank Account Is Not For You

  1. Too expensive
  2. I am not rich
  3. What will be the use to me
  4. How will I control it in a foreign land
  5. Too complicated
  6. I have to disclose information about me
  7. How do I know this is not a scam? It sounds too simple to be legal
  8. Will I really own my assets and wealth? Or will you?
FAQ was last modified: April 13th, 2015 by Finnie Samuel

Finnie Samuel

He has good software skills, is dependable and has the ability to get along well with others.

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