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.

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