Business In Dubai – Dubai is one of the best places to do business in as an entrepreneur, and there are different types of setup for the UAE entrepreneurs. One of the most sought-after solutions for international investors is offshore company setup in Dubai. This business format makes it possible for the foreign investors to avail numerous benefits which include asset protection, tax benefits, and easy conduct of business. Here, we will look at what offshore company formation in Dubai is, what are its benefits, and how Flyingcolour can help you in the offshore company formation in Dubai process.
Key Highlights of Setting Up Offshore Company in Dubai
- 100% Foreign Ownership: You can have full ownership in an offshore company in Dubai with no local sponsor or local partner involved.
- No Need For Local Office: A free zone company is not obliged to rent an office space in the UAE, which means it’s also suitable for non-local business owners.
- Taxation: Dubai has a very favourable tax environment as there are no corporate or income tax applicable to offshore companies which attract many business owners.
- Privacy: The offshore company in Dubai provides you with privacy and no public record is available to disclose the company/shareholder/financials.
Why to Opt Offshore Company Formation in Dubai?
Dubai offshore company setup has many advantages, that’s why it’s becoming increasingly popular for foreign investors and companies aiming to establish in the UAE. Here’s the reason why people select Dubai offshore companies so often:
Tax Advantages
Tax benefits exist and are possibly the most attractive reasons to form the company offshore in Dubai. Offshore companies enjoy:
- No corporate tax on profits
- No income tax on wages, dividends etc.
- No capital tax on assets or transaction
Dubai is appealing for foreign investors who are looking to minimize their tax burden and obtain the following benefits.
Asset Protection and Privacy
Dubai offshore companies provide men with very substantial asset protection advantages, which is why they are so popular with anyone who wants to protect their assets. Legal Dubai provides protections allowing offshore companies to hold real estate, intellectual property, and other investments with a degree of security.
And offshore companies have privacy in that they do not need to disclose company or shareholders details publicly. It provides business owners with a higher level of confidentiality.
Global Business Operations
Dubai’s position in the middle of Europe, Asia, and Africa provides a gateway of incomparable access to global marketplaces. An offshore company in Dubai enables business owners to have a presence in one of the most vibrant and developing global markets but without an actual office and local employees.
Its infrastructure, international airports and seaports make it easy for offshore companies to participate in global trade, financial services, and investments.
Low Operational Costs
Forming an offshore company in Dubai is usually cheaper when compared with mainland company setup in Dubai. There’s no requirement to have an office or employees and as a result, overheads are very low. Moreover, in a free zone such as Malta, and also in offshore jurisdictions you will not only benefit from an easy and simple process (less admin means less costs), you will also save time and money on the longer term.
Ease of Setup and Operation
Company formation in Dubai ‘offshore’ jurisdictions – In Dubai, the process of incorporating a company offshore is quite straightforward. The registration and licensing requirements are easy and fast to accomplish, meaning that businesses can get up and running in no time. In addition, the existing legal systems offer convenience in operating the company and lessen the complexity of running a business in a new jurisdiction.
Steps of Setting Up an Offshore Company in Dubai
The formation of an offshore company in Dubai is uncomplicated, everything is summarised in the following steps:
Step 1: Pick Your Offshore Jurisdiction
Some of the Dubai free zones offer offshore company setup facilities. A jurisdiction that suits your business is important to choose. Top picks are JAFZA, RAK Free Zone, and DSO.
Step 2: Choose the Name of Your Business
Pick a name for your offshore firm. The name has to conform to the UAE’s naming guidelines and not create any conflict with any current sold trademark.
Step 3: Gather the Necessary Documents
To finalize the registration of the offshore company you will be required to submit the following documents:
- A copy of the passport for shareholders and directors
- Evidence of address (for shareholders and directors)
- A specimen of the company name and its activity wanted
- A deadline (as applicable to the free zone)
- A business plan (as per free zone prerequisite)
Step 4: Register Your Company
Lodge your visa and necessary documentation with the appropriate offshore authority for approval. Your firm will be registered and your Certificate of Incorporation will be issued to you.
Step 5: Open a Bank Account
You will have to open a corporate bank account in Dubai shortly after registration, to help your business carry financial transactions. International and local banks provide a wide selection of banking services in Dubai.
Step 6: Obtain Your License
As soon as your offshore company is registered, you’ll obtain your business license that legally approves you to conduct your business. With this, you can now carry on with international business.
How Can You Benefit From Flyingcolour Business Setup in an Offshore Company Formation in Dubai
At Flyingcolour Business Setup, we deal in business setup in Dubai and we are your one-stop solution for setting up a company in the UAE. We provide a number of services which help assist you in the fast and easy setting up of your offshore company. Our services include:
- Consultation and Advice: We will advise you on the best offshore location and type of business for your needs.
- Documentation Assistance: We do all the paperwork for you and prepare your documents properly so that they are submitted to the consulate in time.
- Registration and License: We manage all, from registration till getting your business setup complying with UAE law.
- Bank Account Help: We help you to open a company bank account in Dubai and advise on the best banking solutions.
- Continuing Support: Once your business is up and running, we provide ongoing support to help keep your business in compliance and successful.
Conclusion
There are a great number of benefits of forming an offshore company in Dubai such as tax advantages, asset security, and the ability to enter into global markets. It’s a good option for overseas investors and companies who want to have a UAE presence but don’t require a physical office. Business Formation in Dubai now will be hassle-free with the help of Flyingcolour Business Setup.
Ready to start a Dubai offshore company of your own? Get in touch with Flyingcolour Business Setup now and start the ball rolling for growing your business in one of the world’s fastest-moving business landscapes.
