Offshore Company Dubai

Offshore Companies Dubai | Create A Tax Free Company

Offshore companies Dubai: Can help you find a way to invest your money in an offshore bank account that offers privacy, security and a tax-free haven

Corporate structures applicable to offshore company formation Dubai

Offshore companies Dubai: An offshore company in Dubai provides certain global inexpensive and virtually tax-free trade corporate structures to pursue details and perform international business undertakings.

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The many features of such corporate structures for offshore company formation in Dubai include the following:

  • Quick and easy formation or establishment procedures in these zones.
  • Full foreign ownership allowed.
  • Total duty and tax exemptions.
  • No minimum finance capital required.
  • Opening of multiple customer currency bank accounts permitted.
  • Confidentiality assured.

The operations of foreign businesses in the United Arab Emirates (UAE), including offshore company formation Dubai, are governed by Federal Law No. 8 (1984), as amended by Federal Law No. 13 (1988), otherwise known as the Commercial Companies Law, and the firm market bylaws relevant thereto.

Offshore Companies Dubai | Create A Tax Free Company

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Offshore companies Dubai: Get a free quote now by filling in the box on the right and discover how to create a tax free company

The pertinent work provisions of the group regulations are summarized in the following three established broad terms:

1. All commercial companies in Dubai (excluding the Free zones) and elsewhere in the UAE must have no less than fifty-one percent (51%) local equity.

2. The requirements as to minimum capital asset levels, directors, shareholders, and procedures for incorporation are outlined in specific reporting terms.

3. Professional business organizations in the UAE are classified into seven (7) types, each of which is fully defined in the regulations.

In relation to No. 3 above, offshore company formation Dubai may involve any one of the following 7 business incorporation types:

1. General Partnership Company
2. Limited Partnership (also called Partnership in Commendams)
3. Licensed Public Shareholding Company
4. Private Personal Shareholding Company
5. Joint Venture Company
6. Share Partnership Company
7. Limited Liability Company

Of these seven business incorporation types, the last one is the type most preferred by individuals or corporations planning on offshore companies Dubai rather than onshore companies.

The laws governing offshore company formation Dubai was enacted in 2003 in what is today considered the largest and fastest growing free economic zone in the world – the Jebel Ali Free Zone (which actually was founded two years later in 2005).

Said laws guarantee secure conditions and privacy for investors without the usual excessive complexity and/or lack of flexibility in administration as may be present in many other offshore jurisdictions and countries.

Offshore companies Dubai: Get a free quote now by filling in the box on the right and discover how to create a tax free company

The following is an outline of the typical structures covering the forming of offshore company formation Dubai:

Company name:

An offshore company in Dubai is required to affix the word “Limited” (or its shortened form – “Ltd.”) at the end of its name. This is to serve as an indication of the “limited liability” status of the company.

The words “Insurance,” “reinsurance,” and “Banking” (as well as all activities that may be associated with any of these words) are not allowed to be used in the company name.

Local registered agent and office:

One of the specific requirements in offshore company formation Dubai is the maintenance of a local Registered Agent, which must be approved by the local authorities in the emirate.

In addition to this, the company must have a local Registered Office. In usual cases, the local Registered Agent provides the local Registered Office.

Company Directors and Secretary:

The number of Directors of an offshore company in Dubai must not be less than two. The company likewise is required to have one Secretary. Any one of the company Directors may also act as the Secretary.

Together, however, the Directors and the Secretary cannot be a corporate entity. While a register of Directors must be kept or maintained at the Registered Office, the same is not intended for public consumption solutions.

Offshore Companies Dubai | Create A Tax Free Company

Varal Team Member

Offshore companies Dubai: Get a free quote now by filling in the box on the right and discover how to create a tax free company

Company shareholders:

An offshore company in Dubai may have only one shareholder or as many as fifty shareholders. Each shareholder has a minimum liability for his/her share in the company’s capital.

Again as mentioned earlier, full foreign ownership of a company is allowed and no register of shareholders (and/or directors) is made available to the public.

A very important requirement in offshore companies Dubai is the need for shareholders to visit the Jebel Ali Free Zone Authority (JAFZA) and sign the incorporation papers before the authorized JAFZA official in the middle east.

If the shareholders cannot be physically present at JAFZA for this purpose, nominated consultants may be armed with a power of attorney to sign the documents on behalf of the shareholders. Said power of attorney must be legalized or notarized by the United Arab Emirates Embassy.

Minimum capital share:

Offshore companies in Dubai are allowed to choose their own minimum capital. Full payment of all shares must be done once allotted per government financial policy.

The following are not permitted: creation of different classes of shares; issuance of bearer shares; and joint shareholding.

There is no need for annual reports to be filed with the local authorities, although it is required that accounts be audited and distributed to the shareholders of the company.

In addition, accounting records for registration of an offshore company may be retained anywhere in the world as the Company Directors so choose.

Perhaps of utmost importance to investors in registered offshore companies Dubai is the emirate’s tax-free scheme – that is, an offshore company in Dubai does not have to pay taxes on capital gains or profit.

Generally, the period involved in achieving offshore companies Dubai is about one week’s time.

Offshore Companies Dubai | Create A Tax Free Company

Varal Team Member

Offshore companies Dubai: Get a free quote now by filling in the box on the right and discover how to create a tax free company

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Offshore Company Dubai was last modified: June 8th, 2019 by Manu Raj

Manu Raj

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