5 Reasons to start a business on Dubai offshore
Foreign investors starting Dubai offshore businesses can enjoy incredible benefits and advantages...
1. Taxes are relatively low
The taxation system of the UAE government is different from other countries of the world. It is relatively problem free and acceptable to most people. Dubai has a simple and well defined tax system, the tax system is categorized in to separations. That is income tax and zakat, zakat is an income tax applicable to expatriates but applicable only to local citizens. Foreign investment with higher tax saving options and lower tax rates is encouraged as taxation is default. This is the main reason why offshore businesses are growing in the emirates. The advantage of starting your offshore company here is that it allows you to save tax and invest more capital for business growth. Once you have registered your business for tax related services you can approach local agencies and consultancies.
2. Complete ownership
In any country in the world, investors who want to invest money in a business there want the business to be their own in every sense. Here’s the obvious benefit of setting up offshore companies. They are trying to set up a business in Dubai, as the expatriates will have full ownership of their business. Ownership issues are one of the biggest barriers to starting a business in a foreign country. It makes perfect sense to manage your business only if you have a local partner. With an offshore company in Dubai, where you start up, you can experience 100% ownership of your own business. Therefore, you can ensure that a significant portion of the income generated from the business remains in the business itself. The full ownership has the capacity to take independent decisions in all matters.
3. Minimal and very easy documentation process
There are a lot of things that are generally completely wrong with the offshore business. Among them is the perception that offshore business requires a lot of documentation. That’s right, documentation is a crucial part of any business set up procedure. The same is true of offshore business; the documentation process in Dubai is simpler and more manageable as most o the registration process is paperless. In fact, an offshore company needs very few documents, most of which are notarized. Documents include passport, visa, registration papers, bank statements and details of the owners.
4. Simple and easy set up procedure
No matter what the registration process, everyone wants very easy things that are not complicated at all. The business registration process for Dubai, is simpler than you might expect. Registration is fully systematic; this means that the whole process can be done in such a way that any business can be registered in a short period of time. In order to register your company name with the relevant authorities, you need to choose a legal form.
The next step is to fill out an application and submit it to the local authorities for confirmation of company registration. You will need to open an offshore bank account, its purpose is to invest the company’s capital requirements after approval of the documents. You can make the set up process much easier by choosing the services of any trusted professional consultancy.
5. Banking service with incredible benefits
Opening an offshore bank account is easy for any investor who wants to start a business in Dubai. The eligibility to apply for an offshore bank account of yours is nothing other than is to complete your business registration process. An offshore banking facility offers you a number of benefits such as increased security, international investment options, tax savings on deposits, and better credit services. Choosing a suitable bank will ensure high quality professional services that will give you full support and assistance in banking procedures. That’s why it’s important to open an offshore bank account, as an expatriate, we offer some of the best banking services that are highly regulated and transparent to ensure the protection of your assets.