Offshore

OFFSHORE JURISDICTION

An offshore company is a company incorporated or registered in a jurisdiction that is different from where its investors or owners or shareholders reside. In other words, it’s a non-resident company. Offshore companies are governed by the jurisdiction regulations where they are incorporated or registered.

OFFSHORE IN UAE SHOULD NOT BE CONFUSED WITH FREE ZONE in UAE

What is the difference between a shareholder and a director in an Offshore Company?

The shareholder is the person who owns the company through a share certificate. A company can be owned by one or several shareholders. The shareholder can be an individual or a company.

Can an offshore company act as a Holding Company?

Yes, it is possible.

A Holding Company incorporated to own shares in other companies either in UAE or abroad. They do not engage in commercial activities or provide goods or services.

Can you obtain a UAE residency visa through a UAE Offshore company?

It is NOT possible to obtain a UAE residency visa via the incorporation of an offshore company in the UAE.

Any other costs that may need to be considered?

  • Renewal Cost
  • LIQUIDATION Costs
  • Audit Costs
  • Amendment Cost
  • Registered Agent Service Cost

FEW BENEFITS OF UAE OFFSHORE

  • No income tax or corporate tax and permit 100% foreign ownership.
  • No need for a physical office in UAE.
  • Can use the address of the registered agent in the UAE
  • Bank account opening is possible in UAE with multi-currency
  • Company can have a wide variety of activities.
  • It is still recommended to group activities and name them precisely. It will help when you apply for a bank account.
  • company will end with the word "Limited."
  • Offshore company is permitted to own UAE real estate directly.

Few of the World's oldest offshore jurisdictions

Delaware

Since 1965 the American state of Delaware has been allowed to develop offshore structures.

There are two types of offshore companies formed in Delaware: a Delaware Corporation Company and a Delaware Limited Liability Company (LLC). There are some critical differences in these two entities' structure and operating requirements, but Delaware's essential features and advantages as a jurisdiction for offshore company formation generally apply to both. The Delaware LLC is the preferred and more popular of the two types. For simplicity, unless expressly stated otherwise, all information in this article pertains to a Delaware LLC.

The state is recognized as being the most favourable when it comes to investment funds.

British Virgin Islands (BVI)

The British Virgin Islands is a leading international finance centre with a reputation for tax neutrality, modern legislation and high regulatory standards.

Cayman Islands

The Cayman Islands is a highly regulated and politically stable jurisdiction offering a wide array of services, including mutual funds, company management, structured financing, shipping registration, insurance and securities listings on the stock exchange.

Luxembourg

Luxembourg is one of Europe's leading financial centres, with renowned expertise in private banking and investment funds and a location for international business and private equity. Luxembourg incorporates many offshore business centre advantages into an onshore EU financial services centre of global standing.

Contact Us for Business Counselling to assist you from Formation and choose the proper jurisdiction or establish your business in Dubai or elsewhere in the UAE. The company formation processes, rules and requirements for incorporating a new company can vary wildly. We at Bizvise can help you navigate the complexity.

The formation of an offshore company is a good idea for foreign investors and expatriates who dream of business success in Dubai. The formation of an offshore company is possible if all the documentation required to comply with the rules and regulations of the UAE Government is done in the respective departments. It is important to note that offshore companies should not be formed on their own effort. There are many business setup consultancies in the UAE and many are loyal. The formation of an offshore company can only be attempted with the support of such business setup consultancies or platforms. Bizvise in the UAE is very reliable and it is wise to seek their services. The formation of an offshore company in Dubai is a process that can be done without complications. All you need to do is give them an out let and the support they need to keep going. In some cases, there may be slight delay due to errors in the application and the documents. This is because of the errors in the application and the documents. It is important to note that with good experience and knowledgeable business set up consultancy support, such delays usually do not occur, so relying on the Bizvise service will not cause such problems.

As mentioned earlier, it would be easier to collaborate with consultants like Bizvise in Dubai to form an offshore company, for which a reasonable fee would be required. Bizvise support will be of great benefit as Dubai Offshore Company Formation experts who assist in the preparation of application documents and information. Consultancy services will, of course include the active presence of a UAE offshore company formation specialist. We not only assist in other related work, but also handle visa applications for investors and employees and open corporate bank accounts for them.

Benefits of setting up a Dubai Offshore company

Here any foreign investor can fully enjoy all the benefits of the UAE Government; all the rigid things have been removed. In addition to tax breaks, there is also the issue of ownership.

Many of the foreign investors have been barred and are now allowed to set up 100% offshore companies in Dubai. Moreover, as in other business formations in the UAE investors do not need a physical location. As such, the formation of an offshore company is a boon to any foreign investor.

Confidentiality:

There is another particularity; the UAE Government does not disappoint investors who want to hide their identity. Therefore, the details of the company owners were not disclosed during the offshore company formation process. Some business people, however, want to maintain the anonymity of their business dealings in the UAE and beyond, making it ideal for such foreign investors to set up offshore companies.

An offshore company in Dubai can be defined in many ways; in a sense an offshore company is a business entity that operates outside its place of origin or outside its original location of registration. This quickly made moves globally and became the inspiration for business world.

In this regard, with the rise of the formation of an offshore company in Dubai, UAE in 2003, its vibrancy was felt around the world. The UAE soon became a major hub for business around the world. Perhaps, investors and entrepreneurs have different motives behind forming an offshore company.

Documents Required Starting an Offshore Company in Dubai – UAE

  • Business plan (At least for 3 years).
  • Original Bank reference letter or 6 monthly bank statements (stamped by the bank).
  • Proof of Address
  • CV of the shareholders.
  • Passport copies the shareholders.
  • 3 options for name reservation.
  • Business Activity.

How much does it cost to open an offshore company in Dubai ?

Dubai Offshore Company – Formation Costs

UAE Offshore Company

Basic Package 3,290 USD
Business package incl. bank account opening 3,990 USD
Privacy Package incl. bank account and nominee service 4,990 USD
Annual fee from the second year from 3,090 USD
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